Assertio Holdings Inc Stock Price, News & Analysis

Assertio Holdings, Inc. reported net product sales of $24.8 million for Q2 2021, a significant increase from $20.2 million in Q2 2020. The company also raised its full year guidance for net product sales to $91-$96 million, up from $85-$92 million. Despite a net loss of $14.2 million in Q2, improved execution of cost-saving measures is expected to enhance adjusted EBITDA to between $34-$37 million. The company's transition to a non-personal promotional model has also contributed positively.

In addition, a legal reserve of $11.3 million was established, and the company regained compliance with NASDAQ after a reverse stock split.

Assertio Holdings (NASDAQ: ASRT) plans to release its second quarter 2021 financial results on August 5, 2021, after market close. A conference call hosted by management will follow at 4:30 p.m. Eastern Time. Investors can access the live webcast and replay on the company's investor website. Assertio specializes in pharmaceutical products in neurology, hospital, and pain management. The company has achieved growth through licensing, mergers, and acquisitions.

Assertio Holdings, Inc. (ASRT) announced it has regained compliance with the Nasdaq's minimum bid price requirement, signaling a positive development for the company. The notification letter from Nasdaq confirms that the compliance issue is now resolved. Assertio continues to focus on its portfolio of branded prescription products in neurology, hospital, and pain management areas, driven by strategic growth through licensing and acquisitions.

Assertio Holdings, Inc. (NASDAQ: ASRT) announced a one-to-four reverse stock split effective May 18, 2021. This means that every four shares will convert into one share, without altering the par value per share. Adjustments will also be made to stock options, warrants, and equity compensation plans. Fractional shares will be compensated based on the stock's closing price on May 17, 2021. The company will continue trading under the symbol ASRT.

Assertio Holdings, Inc. (NASDAQ: ASRT) announced a partial adjournment of its 2021 Annual Meeting on May 11, 2021, primarily to gather additional votes for Proposals 2 and 3. Proposal 2, concerning a Reverse Split and Proportional Authorized Shares Reduction, has over 80% support from votes cast but requires approval from more than 50% of all outstanding shares. Proposal 3 also shows strong preliminary support of over 76%. Leading advisory firms recommend both proposals, aiming at compliance with Nasdaq listing requirements. The reconvened meeting is set for June 9, 2021.

Assertio Holdings, Inc. (ASRT) reported a net product sales of $26.4 million for Q1 2021, a decrease from $28.3 million pro forma sales in Q1 2020. The company's net income fell to $4.5 million from $41.2 million year-over-year. However, Adjusted EBITDA surged to $15.7 million compared to $3.9 million in the previous year. Assertio anticipates full-year 2021 net sales between $85.0 million and $92.0 million. The company has raised $45.3 million in cash to enhance liquidity and implemented a restructuring plan aiming for $45 million in annualized cost savings.

Assertio Holdings and Cove have partnered to enhance patient access to CAMBIA (diclofenac potassium) and SPRIX (ketorolac tromethamine) through Cove’s telemedicine platform. This collaboration aims to facilitate consultations with licensed physicians who can prescribe these medications for migraine treatment and pain management. The initiative aligns with Assertio's strategy for digital engagement and direct-to-patient care models, potentially expanding their reach in the market and improving patient convenience.

Assertio Holdings, Inc. (NASDAQ: ASRT) will announce its first quarter 2021 financial results on May 6, 2021, after market close. Management will host a conference call at 4:30 p.m. ET to discuss these results. Investors can access the live webcast at Assertio's investor relations website. Assertio is recognized for its differentiated pharmaceutical products in neurology, hospital, and pain management, having experienced growth through licensing and acquisitions.

Assertio Holdings reported full-year 2020 net product sales of $93.5 million and pro forma revenue of $119.2 million, aligning with guidance. The company raised $45.3 million in cash through direct offerings, enhancing liquidity. Assertio achieved $40 million in annual cost savings and expects an additional $45 million post-restructuring. Significant debt repayment included $450.2 million in 2020. However, the company faces challenges due to COVID-19's impact on elective procedures and a decline in prescription volumes.