Welcome to our dedicated page for Assertio Holdings news (Ticker: ASRT), a resource for investors and traders seeking the latest updates and insights on Assertio Holdings stock.
Assertio Holdings, Inc. reports developments for a commercial pharmaceutical business that markets differentiated products primarily in oncology. Company updates focus on product sales, commercial execution, portfolio changes, and financial results for its single reportable segment, including activity tied to Rolvedon and other branded pharmaceutical assets.
Recent announcements also cover capital-structure and corporate governance matters, material agreements, shareholder-related processes, and completed portfolio transactions. Assertio has reported the sale of U.S. rights to several branded products, including INDOCIN, SPRIX, SYMPAZAN, CAMBIA, ZIPSOR, and OTREXUP, while continuing to frame its commercial strategy around oncology-focused products.
Assertio Holdings (NASDAQ: ASRT) announced key leadership changes with the creation of a new Transformation Office. Paul Schwichtenberg, current Chief Commercial Officer and former CFO, has been appointed as Chief Transformation Officer (CTO). In his previous roles, Schwichtenberg implemented efficiency measures, pricing strategies, and debt refinancing that improved profitability and strengthened the company's balance sheet.
Mary Pietryga will assume the role of Chief Commercial Officer effective December 16, 2024. Pietryga joins from Teva Pharmaceuticals, where she served as VP and Head of Global Biosimilar Portfolio. Her experience includes leadership positions at Peregrine Market Access, Pacira Biosciences, and other major pharmaceutical companies.
The Buxton Helmsley Group (BHG), which recently converted its position in Assertio Holdings (NASDAQ: ASRT) to a short interest, has called for a Senate Committee investigation into alleged clinical data fraud at Spectrum Pharmaceuticals, now owned by Assertio. This request follows the resignation of Assertio's Chairman and oncologist board member, announced shortly after BHG's release of a 20-page exposé. The report cites former executives-turned-whistleblowers who claim to possess evidence of clinical data tampering related to the cancer treatment Rolvedon. BHG criticizes Assertio's CEO Brendan O'Grady's dismissal of the allegations and the company's failure to engage with whistleblowers or review their evidence.
Assertio Holdings (NASDAQ: ASRT) reported Q3 2024 financial results with total net product sales of $28.7 million, including $15.0 million from Rolvedon. The company posted a net loss of $2.9 million, or $(0.03) per share. Rolvedon sales remained stable quarter-over-quarter, while Indocin sales decreased to $5.7 million due to generic competition. The company maintained a strong balance sheet with $88.6 million in cash and short-term investments. Gross margin improved to 74% from 71% in Q2, and Adjusted EBITDA increased to $5.3 million from $5.0 million in the previous quarter.
The Buxton Helmsley Group (BHG), which holds a short position in Assertio Holdings (NASDAQ: ASRT), has released evidence supporting allegations of product-related fraud at Spectrum Pharmaceuticals, now owned by Assertio. The evidence includes a memo showing requests to delete adverse event data and audit reports revealing major discrepancies in clinical trial data. BHG has filed a whistleblower complaint with the SEC and calls on Assertio's board to release their full investigation report and documentation of communication with whistleblowers. BHG claims Assertio's recent denial fails to address specific allegations, including alleged 'hush money' offers to whistleblowers.
Assertio Holdings (NASDAQ: ASRT) has issued a response to allegations made by short-seller Alex Parker of Buxton Hemsley Group. CEO Brendan O'Grady strongly refuted claims about Rolvedon's safety and the company's accounting practices, stating they are false and baseless. The company revealed that Parker, who initially positioned himself as an activist investor, attempted to negotiate payment of his legal fees in exchange for dropping his activist activities. After unsuccessful attempts to extract money and a board position, Parker has now shifted to a short-selling position. Assertio is considering legal and regulatory action in response.
Buxton Helmsley Group (BHG) has announced its transition from a long to a short position in Assertio Holdings (ASRT), citing serious concerns over alleged product-related fraud. The investment fund claims to have uncovered evidence from multiple former Spectrum executives-turned-whistleblowers regarding safety issues with Rolvedon, a product acquired through the Spectrum Pharmaceuticals merger. BHG alleges that Assertio's board has failed to properly investigate these concerns, despite reported inquiries from various federal health agencies. The fund suggests the Spectrum acquisition was rushed due to Assertio's flagship product Indocin facing imminent generic competition, potentially defrauding both Assertio and Spectrum stockholders.
Assertio Holdings (Nasdaq: ASRT) announced it will release its third quarter 2024 financial results on Monday, November 11, 2024, after market close. The company will host a live webcast earnings conference call at 4:30 p.m. Eastern Time. Investors can access the webcast through Assertio's investor relations website, with connection recommended 10 minutes prior to start. For telephone access, participants can dial +1-646-307-1963 with call ID 3278948. A replay will be available approximately two hours after the call on the company's investor website.
Assertio Holdings, a pharmaceutical company listed on Nasdaq as ASRT, has announced its participation in the Maxim Group 2024 Healthcare Virtual Summit. The company's CEO, Brendan O'Grady, will engage in a fireside chat discussion on October 15, 2024, at 1:00 pm Eastern Time.
The discussion will be hosted by Maxim Group research analyst Naz Rahman. Investors interested in listening to the event can register through the provided link. This participation underscores Assertio's commitment to engaging with the investment community and showcasing its comprehensive commercial capabilities in offering differentiated pharmaceutical products to patients.
Assertio Holdings, Inc. (NASDAQ: ASRT), a pharmaceutical company, has announced the granting of inducement awards to two newly-hired employees. The Compensation Committee of the Company's Board of Directors approved the grants on October 1, 2024, consisting of:
- 16,325 restricted stock units (RSUs)
- 24,670 stock options
These awards were granted in accordance with NASDAQ Listing Rule 5635(c)(4) as material inducements for employment. The options have an exercise price of $1.15 per share, equal to the closing price of Assertio's common stock on the grant date. Both RSUs and options will vest equally over three years, beginning on the first anniversary of the grant date, subject to continued service with the company.
Assertio Holdings, Inc. (Nasdaq: ASRT), a pharmaceutical company, has announced its participation in two upcoming investor conferences in New York City. Ajay Patel, the company's Chief Financial Officer, will host investor meetings at both events:
1. The HC Wainwright Conference from September 10-11, 2024, at the Lotte New York Palace Hotel.
2. The Lake Street Capital Markets BIG8 Conference on September 12, 2024, at the Yale Club.
Investors interested in meeting with Assertio can register and request meetings through their respective HC Wainwright or Lake Street representatives. This participation demonstrates Assertio's commitment to engaging with investors and showcasing their comprehensive commercial capabilities in offering differentiated pharmaceutical products to patients.