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.
The Buxton Helmsley Group (BHG) urges Assertio stockholders to vote against all director nominees at the upcoming annual meeting on May 23, 2024. BHG criticizes Assertio’s board for failing in oversight, inadequate disclosures, and poor strategic decisions, including a costly acquisition of Spectrum Pharmaceuticals. Analysts have dropped coverage of Assertio, citing a loss of faith in leadership. BHG proposes adding two new directors to bring better oversight and restore value for stockholders. The group also recommends strategic alternatives, including a possible sale to enhance operating profit.
Assertio Holdings, Inc. will present at the Citizens JMP Life Sciences Conference in New York City on May 13, 2024. Ajay Patel, Chief Financial Officer, will lead the presentation at 12:00 pm Eastern Time. Investors can request meetings with the Company through JMP representatives or contact Assertio investor relations. Presentation information will be available on the event day at https://investor.assertiotx.com. To listen to the webcast, connect to the website link 15 minutes before the live webcast.
Assertio Holdings, Inc. reported strong first-quarter financial results, with net product sales of $31.9 million. Rolvedon product sales increased, while Indocin sales decreased due to generic competition. The company's gross margin was 65%, SG&A expenses decreased, and adjusted EBITDA improved. Assertio generated $7.5 million in cash flow, ending the quarter with $80.7 million in cash and cash equivalents. The company reiterated its 2024 financial guidance of $110-125 million in net product sales and $20-30 million in adjusted EBITDA.
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