Assertio Holdings Inc Stock Price, News & Analysis

Assertio Holdings, Inc. (NASDAQ: ASRT) announced that it will release its fourth quarter and full year 2020 financial results on March 11, 2021, after market close. A conference call with management is scheduled for 4:30 p.m. Eastern Time on the same day. Assertio is noted for its differentiated pharmaceutical products in neurology, hospital, and pain and inflammation segments. Investors can access the live webcast and replay via the company’s investor website.

Assertio Holdings, Inc. (NASDAQ: ASRT) announced the closure of a registered direct offering, raising approximately $34.3 million at $0.98 per share.

After fees, the net proceeds are about $32.1 million, meant for general corporate purposes and working capital.

The offering was made under an effective shelf registration statement and involved Roth Capital Partners as the placement agent.

Assertio Holdings, Inc. (NASDAQ: ASRT) announced a securities purchase agreement with institutional investors to sell 35 million shares at $0.98 per share, raising approximately $34.3 million before expenses. The registered direct offering is set to close on February 12, 2021. Funds will be used for general corporate purposes. The offering falls under a shelf registration statement declared effective by the SEC on February 4, 2021. Roth Capital Partners is the sole placement agent for this transaction.

Assertio Holdings, Inc. (NASDAQ: ASRT) has completed a registered direct offering of common stock priced at $0.62 per share, totaling approximately $14 million in gross proceeds. After fees and expenses, net proceeds are expected to be around $13 million, which will be used for general corporate purposes, including working capital. This offering was conducted under an effective shelf registration statement filed with the SEC.

Assertio Holdings, Inc. (NASDAQ: ASRT) has announced a registered direct offering of 22,600,000 shares at a price of $0.62 per share, expected to close on February 9, 2021. The offering aims to raise approximately $14 million before fees. Proceeds will be allocated for general corporate purposes and working capital. Roth Capital Partners acted as the sole placement agent. This is being offered under a shelf registration statement filed with the SEC, and details will be available in a prospectus supplement.

Assertio Holdings, Inc. (Nasdaq: ASRT) announced a Confidential Settlement Agreement with Navigators Specialty Insurance, resolving a dispute over coverage of opioid lawsuits against its subsidiary Assertio Therapeutics. Navigators will pay $5 million of its $10 million primary policy by February 17, 2021. Additionally, Assertio updated its restructuring cost estimate to $11-12 million, reflecting non-cash charges and a pending non-cash impairment charge of at least $9 million for Q4 2020.

Assertio Holdings (Nasdaq: ASRT) has received a 180-day grace period, extending until June 28, 2021, to comply with the $1.00 bid price requirement for maintaining its Nasdaq listing. The company's shares will transfer to the Nasdaq Capital Market starting December 30, 2020, although trading is not expected to be affected. If the share price does not meet the requirement, Assertio plans to consider a reverse stock split to regain compliance. Assertio is focused on monitoring this requirement closely.

Assertio Holdings announced a restructuring plan aimed at reducing costs by approximately $45 million annually. This comes in response to changes in market conditions and the ongoing effects of the COVID-19 pandemic. The plan will include severance charges estimated between $8 million and $10 million to be recognized in late 2020 and 2021. Following the restructuring, Dan Peisert will transition from CFO to CEO, succeeding Todd Smith, who resigns to support the company’s reduced infrastructure.

Assertio Holdings, Inc. (Nasdaq: ASRT) announced that President and CEO Todd Smith will present at the Stifel 2020 Virtual Healthcare Conference on November 17, 2020, at 11:20 am ET. Investors can access a live audio webcast of the presentation on the Company’s website, with a replay available afterward. Assertio focuses on delivering differentiated pharmaceutical products, with a strong portfolio in neurology, hospital, and pain inflammation. The Company has expanded through licensing, mergers, and acquisitions, aiming to be the partner of choice in healthcare.