[Executive Summary](index=1&type=section&id=Executive%20Summary) Assertio reported strong Q2 2025 net product sales and cash growth, narrowing full-year guidance amidst strategic transformation [Q2 2025 Performance Overview](index=1&type=section&id=Q2%202025%20Performance%20Overview) Assertio reported Q2 2025 total net product sales of $28.8 million, with cash and investments increasing to $98.2 million. The company narrowed its full-year guidance, reflecting first-half performance and improved operational efficiencies - Assertio reported Q2 2025 total net product sales of **$28.8 million**[1](index=1&type=chunk)[3](index=3&type=chunk) - Cash and investments increased to **$98.2 million** as of June 30, 2025[1](index=1&type=chunk)[3](index=3&type=chunk)[4](index=4&type=chunk) - The company is narrowing its full-year guidance for Net Product Sales and Adjusted EBITDA[1](index=1&type=chunk)[7](index=7&type=chunk) [Strategic Priorities and Transformation](index=1&type=section&id=Strategic%20Priorities%20and%20Transformation) Assertio is executing 2025 transformation priorities to achieve sustainable near-term growth and long-term value, including operational streamlining, divestment of Assertio Therapeutics, and product consolidation to optimize cost structure - The company is implementing 2025 transformation priorities to create sustainable near-term growth and increased long-term value[2](index=2&type=chunk) - Steps include streamlining operations, divesting Assertio Therapeutics, and consolidating products from previously acquired subsidiaries to optimize cost structure[2](index=2&type=chunk) [Financial Highlights (Unaudited)](index=1&type=section&id=Financial%20Highlights%20(Unaudited)) This section details Q2 2025 GAAP and Non-GAAP financial metrics, balance sheet position, cash flow, and product-specific sales performance [Key Financial Metrics (GAAP & Non-GAAP)](index=1&type=section&id=Key%20Financial%20Metrics%20(GAAP%20%26%20Non-GAAP)) For Q2 2025, Net Product Sales (GAAP) decreased to $28.8 million from $30.7 million YoY. Net Loss (GAAP) widened to $(16.4) million from $(3.7) million. Adjusted EBITDA (Non-GAAP) increased to $5.6 million from $3.1 million Three Months Ended June 30, 2025 vs. 2024 | Metric | June 30, 2025 (in millions) | June 30, 2024 (in millions) | Change (YoY) | | :----------------------------- | :------------ | :------------ | :----------- | | Net Product Sales (GAAP) | $28.8 | $30.7 | (6.19%) | | Net Loss (GAAP) | $(16.4) | $(3.7) | (343.24%) | | Loss Per Share (GAAP) | $(0.17) | $(0.04) | (325.00%) | | Adjusted EBITDA (Non-GAAP) | $5.6 | $3.1 | 80.65% | | Adjusted Earnings Per Share (Non-GAAP) | $0.02 | $0.01 | 100.00% | Six Months Ended June 30, 2025 vs. 2024 | Metric | June 30, 2025 (in millions) | June 30, 2024 (in millions) | Change (YoY) | | :----------------------------- | :------------ | :------------ | :----------- | | Net Product Sales (GAAP) | $54.8 | $62.6 | (12.46%) | | Net Loss (GAAP) | $(29.9) | $(8.2) | (264.63%) | | Loss Per Share (GAAP) | $(0.31) | $(0.09) | (244.44%) | | Adjusted EBITDA (Non-GAAP) | $5.9 | $10.4 | (43.27%) | | Adjusted Earnings Per Share (Non-GAAP) | $(0.03) | $0.05 | (160.00%) | [Balance Sheet and Cash Flow](index=1&type=section&id=Balance%20Sheet%20and%20Cash%20Flow) As of June 30, 2025, cash, cash equivalents, and short-term investments increased to $98.2 million from $87.3 million as of March 31, 2025, driven by Adjusted EBITDA performance and favorable working capital, despite an $8.2 million transfer due to the Assertio Therapeutics divestment. Debt remained at $40.0 million - Cash, cash equivalents, and short-term investments totaled **$98.2 million** as of June 30, 2025, an increase from **$87.3 million** as of March 31, 2025[4](index=4&type=chunk) - The increase in cash was driven by Adjusted EBITDA performance and favorable working capital, partially offset by an **$8.2 million** transfer related to the Assertio Therapeutics divestment[4](index=4&type=chunk)[5](index=5&type=chunk) - Debt as of June 30, 2025, was **$40.0 million**, consisting of 6.5% convertible notes with no maturities until September 2027[5](index=5&type=chunk) [Product Sales Performance](index=1&type=section&id=Product%20Sales%20Performance) Rolvedon net product sales increased to $16.1 million (YoY), driven by higher volume and a favorable adjustment, while Sympazan sales grew to $3.2 million due to increased sales support. Indocin sales decreased to $3.0 million due to generic competition, as expected Q2 2025 Product Net Sales Performance | Product | Q2 2025 Net Sales (in millions) | Q2 2024 Net Sales (in millions) | Change (YoY) | Key Drivers | | :-------- | :---------------- | :---------------- | :----------- | :---------- | | Rolvedon | $16.1 | $15.1 | 6.62% | Higher volume, $5.4 million favorable adjustment to prior period returns reserve, partially offset by lower pricing | | Sympazan | $3.2 | $2.7 | 18.52% | Impact of additional in-person sales support in key markets | | Indocin | $3.0 | $6.9 | (56.52%) | Previously announced generic competition affecting both volume and pricing, in line with expectations | [Operational Highlights and Strategic Execution](index=2&type=section&id=Operational%20Highlights%20and%20Strategic%20Execution) This section details core product performance, portfolio optimization efforts, cost savings initiatives, and ongoing corporate structure simplification for future growth [Core Product Performance](index=2&type=section&id=Core%20Product%20Performance) Rolvedon achieved its highest quarterly unit demand and market share, while Sympazan recorded its third consecutive quarter of new prescription growth, supported by an expanded prescriber base and upcoming presentation of new real-world evidence data - Rolvedon delivered the highest quarterly unit demand and achieved the highest market share to date in its competitive segment[11](index=11&type=chunk) - Sympazan produced its 3rd consecutive quarter of new prescription growth, driven by a substantial increase in the prescriber base during the first half of 2025[11](index=11&type=chunk) - Plans were announced to present a Sympazan abstract at ANA2025 in September, showcasing new real-world evidence data for patients with Lennox-Gastaut Syndrome[11](index=11&type=chunk) [Portfolio Optimization and Cost Savings](index=2&type=section&id=Portfolio%20Optimization%20and%20Cost%20Savings) Assertio ceased commercialization efforts for Otrexup to improve operating expenses and focus on core growth assets. The company also reduced legal exposure by resolving multiple prior legal matters and continued to simplify its corporate structure, leading to lower operating costs - Ceased commercialization efforts for Otrexup to improve operating expenses and focus on core growth assets[11](index=11&type=chunk) - Reduced legal exposure and associated operating expenses by resolving multiple prior legal matters[11](index=11&type=chunk) - Continued steps to simplify its corporate structure, resulting in a nimbler organization with lower operating costs[11](index=11&type=chunk) [Corporate Structure and Future Growth](index=2&type=section&id=Corporate%20Structure%20and%20Future%20Growth) Assertio is actively identifying and executing opportunities to integrate new growth drivers into its commercial platform through acquisitions, licensing, or other transactions, alongside its ongoing corporate simplification efforts - Continued strategic activities to identify and execute opportunities to bring new growth drivers into Assertio's commercial platform through acquisition, licensing or other transactions[11](index=11&type=chunk) [Outlook Update](index=2&type=section&id=Outlook%20Update) This section provides an updated full-year 2025 guidance for Net Product Sales and Adjusted EBITDA, reflecting recent performance and strategic decisions [Full-Year 2025 Guidance](index=2&type=section&id=Full-Year%202025%20Guidance) Assertio narrowed its full-year 2025 guidance for Net Product Sales and Adjusted EBITDA, reflecting strong first-half performance, the decision to cease Otrexup commercialization, and improved operational efficiencies Full-Year 2025 Guidance Update | Metric | Previous Guidance (in millions) | Updated Guidance (in millions) | | :----------------- | :---------------- | :--------------- | | Net Product Sales (GAAP) | $108.0 to $123.0 | $108.0 to $118.0 | | Adjusted EBITDA (Non-GAAP) | $10.0 to $19.0 | $11.0 to $19.0 | - The guidance narrowing reflects first-half performance, the decision to cease commercialization of Otrexup, and improved operational efficiencies[7](index=7&type=chunk) [Company Information](index=2&type=section&id=Company%20Information) This section provides an overview of Assertio's business, investor contact details, and information regarding the Q2 2025 conference call and webcast [About Assertio](index=2&type=section&id=About%20Assertio) Assertio is a pharmaceutical company with comprehensive commercial capabilities, offering differentiated products to address patient needs, primarily in oncology, neurology, and pain management - Assertio is a pharmaceutical company with comprehensive commercial capabilities[10](index=10&type=chunk) - The company focuses on marketing differentiated products in oncology, neurology, and pain management[10](index=10&type=chunk) [Investor Relations](index=3&type=section&id=Investor%20Relations) Investor inquiries are directed to Matt Kreps, Managing Director at Darrow Associates - Investor contact is Matt Kreps, Managing Director at Darrow Associates[12](index=12&type=chunk) [Conference Call and Webcast](index=2&type=section&id=Conference%20Call%20and%20Webcast) Assertio's management hosted a conference call on August 11, 2025, at 4:30 p.m. Eastern Time to discuss Q2 2025 financial results and corporate strategy, with webcast and dial-in details provided - A conference call was hosted on Monday, August 11, 2025, at 4:30 p.m. Eastern Time to discuss Q2 2025 financial results and corporate strategy[8](index=8&type=chunk)[9](index=9&type=chunk) - Webcast and replay information is available on Assertio's investor relations website[9](index=9&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward%20Looking%20Statements) This section outlines the inherent risks and uncertainties associated with forward-looking statements, emphasizing that actual results may differ materially due to various factors, including market acceptance of products, generic competition, execution of strategic plans, and regulatory compliance - Forward-looking statements discuss future plans, trends, events, results, or financial condition based on current beliefs and involve risks and uncertainties[13](index=13&type=chunk) - Key risks include the ability to grow sales and commercial success of products (e.g., Rolvedon), impact of generic competition (e.g., Indocin), ability to execute corporate structure simplification and business development, and compliance with legal and regulatory requirements[13](index=13&type=chunk) - Assertio disclaims any obligation to update forward-looking statements, except as required by law[13](index=13&type=chunk) [Non-GAAP Financial Measures](index=5&type=section&id=Non-GAAP%20Financial%20Measures) This section defines non-GAAP financial measures, their purpose in supplementing GAAP results, and details specified items excluded from these calculations [Definition and Purpose](index=5&type=section&id=Definition%20and%20Purpose) Non-GAAP measures are used to supplement GAAP results, offering useful operating metrics for analysts, investors, lenders, and management to assess performance, and are not intended as substitutes for GAAP measures - Non-GAAP measures (EBITDA, Adjusted EBITDA, Adjusted Earnings, Adjusted EPS) supplement GAAP results as useful operating metrics[14](index=14&type=chunk) - These measures provide supplementary information for analysts, investors, lenders, and management to assess performance and are used internally for understanding, managing, and evaluating performance, including bonus determination[14](index=14&type=chunk) - Non-GAAP measures should be considered in addition to, not a substitute for, or superior to, GAAP financial measures[14](index=14&type=chunk) [Specified Items and Revisions](index=5&type=section&id=Specified%20Items%20and%20Revisions) Specified items, considered significant and non-indicative of current operations, are excluded from non-GAAP measures. Beginning Q1 2025, legal settlement costs are also excluded, with prior periods recast for consistency - Specified items, such as adjustments to interest, income tax, depreciation, amortization, sales reserves, stock-based compensation, legal settlements, divestiture losses, restructuring charges, and transaction-related costs, are excluded from non-GAAP measures[15](index=15&type=chunk) - Beginning Q1 2025, legal settlement costs incurred during the period are excluded from Adjusted EBITDA, and prior period amounts have been recast to conform to this presentation[16](index=16&type=chunk) [Condensed Consolidated Financial Statements (Unaudited)](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated statements of comprehensive loss, balance sheets, and cash flows for the reported periods [Statements of Comprehensive Loss](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20LOSS) For Q2 2025, total revenues were $29.2 million, down from $31.1 million YoY. Net loss was $(16.4) million, significantly higher than $(3.7) million in Q2 2024, primarily due to a loss on Assertio Therapeutics divestiture Condensed Consolidated Statements of Comprehensive Loss (Three Months Ended June 30) | Metric (in thousands) | 2025 | 2024 | Change (YoY) | | :-------------------- | :--- | :--- | :----------- | | Product sales, net | $28,822 | $30,695 | (6.10%) | | Royalty revenue | $400 | $431 | (7.19%) | | Total revenues | $29,222 | $31,126 | (6.12%) | | Total costs and expenses | $37,257 | $34,743 | 7.24% | | Loss from operations | $(8,035) | $(3,617) | (122.14%) | | Loss on Assertio Therapeutics divestiture | $(8,174) | $0 | N/A | | Net loss and comprehensive loss | $(16,352) | $(3,674) | (344.99%) | | Basic and diluted net loss per share | $(0.17) | $(0.04) | (325.00%) | Condensed Consolidated Statements of Comprehensive Loss (Six Months Ended June 30) | Metric (in thousands) | 2025 | 2024 | Change (YoY) | | :-------------------- | :--- | :--- | :----------- | | Product sales, net | $54,818 | $62,557 | (12.45%) | | Royalty revenue | $894 | $1,017 | (12.19%) | | Total revenues | $55,712 | $63,574 | (12.37%) | | Total costs and expenses | $76,977 | $71,528 | 7.62% | | Loss from operations | $(21,265) | $(7,954) | (167.35%) | | Loss on Assertio Therapeutics divestiture | $(8,174) | $0 | N/A | | Net loss and comprehensive loss | $(29,893) | $(8,184) | (265.27%) | | Basic and diluted net loss per share | $(0.31) | $(0.09) | (244.44%) | [Balance Sheets](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of June 30, 2025, total assets were $273.8 million, a decrease from $284.7 million at December 31, 2024. Total liabilities increased to $180.5 million from $163.7 million, while total shareholders' equity decreased to $93.3 million from $121.1 million Condensed Consolidated Balance Sheets (as of June 30, 2025 vs. December 31, 2024) | Metric (in thousands) | June 30, 2025 | December 31, 2024 | Change | | :-------------------- | :------------ | :---------------- | :----- | | Cash and cash equivalents | $47,086 | $50,588 | (6.92%) | | Short-term investments | $51,097 | $49,466 | 3.30% | | Total current assets | $210,209 | $202,549 | 3.78% | | Intangible assets, net | $62,006 | $80,471 | (22.94%) | | Total assets | $273,780 | $284,732 | (3.85%) | | Total current liabilities | $132,529 | $114,688 | 15.56% | | Long-term debt | $39,046 | $38,813 | 0.60% | | Total liabilities | $180,482 | $163,651 | 10.29% | | Total shareholders' equity | $93,298 | $121,081 | (22.80%) | [Statements of Cash Flows](index=8&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) For the six months ended June 30, 2025, net cash provided by operating activities was $6.6 million, a decrease from $14.9 million YoY. Net cash used in investing activities was $(9.9) million, significantly less than $(43.3) million YoY, primarily due to proceeds from maturities of short-term investments Condensed Consolidated Statements of Cash Flows (Six Months Ended June 30) | Metric (in thousands) | 2025 | 2024 | Change (YoY) | | :-------------------- | :--- | :--- | :----------- | | Net cash provided by operating activities | $6,553 | $14,895 | (55.99%) | | Net cash used in investing activities | $(9,875) | $(43,320) | 77.18% | | Net cash used in financing activities | $(180) | $(281) | 35.94% | | Net decrease in cash and cash equivalents | $(3,502) | $(28,706) | 87.79% | | Cash and cash equivalents at end of period | $47,086 | $44,735 | 5.26% | - The significant decrease in net cash used in investing activities in 2025 was partly due to **$57.6 million** in proceeds from maturities of short-term investments, compared to none in 2024[22](index=22&type=chunk) [Non-GAAP Reconciliations](index=9&type=section&id=Non-GAAP%20Reconciliations) This section provides detailed reconciliations of GAAP net loss and EPS to non-GAAP EBITDA, Adjusted EBITDA, Adjusted Earnings, and Adjusted EPS [GAAP Net Loss to Non-GAAP EBITDA and Adjusted EBITDA](index=9&type=section&id=RECONCILIATION%20OF%20GAAP%20NET%20LOSS%20TO%20NON-GAAP%20EBITDA%20and%20ADJUSTED%20EBITDA) For Q2 2025, GAAP Net Loss was $(16.4) million, leading to an EBITDA of $(6.3) million. After various adjustments, Adjusted EBITDA was $5.6 million, an increase from $3.1 million in Q2 2024 Reconciliation of GAAP Net Loss to Non-GAAP EBITDA and Adjusted EBITDA (Three Months Ended June 30) | Metric (in thousands) | 2025 | 2024 | Change (YoY) | | :-------------------- | :--- | :--- | :----------- | | GAAP Net Loss | $(16,352) | $(3,674) | (344.99%) | | EBITDA (Non-GAAP) | $(6,259) | $3,944 | (258.69%) | | Adjusted EBITDA (Non-GAAP) | $5,605 | $3,050 | 83.77% | Reconciliation of GAAP Net Loss to Non-GAAP EBITDA and Adjusted EBITDA (Six Months Ended June 30) | Metric (in thousands) | 2025 | 2024 | Change (YoY) | | :-------------------- | :--- | :--- | :----------- | | GAAP Net Loss | $(29,893) | $(8,184) | (265.27%) | | EBITDA (Non-GAAP) | $(9,523) | $6,019 | (258.20%) | | Adjusted EBITDA (Non-GAAP) | $5,890 | $10,428 | (43.52%) | - Significant adjustments for Q2 2025 included **$9.2 million** for loss on Assertio Therapeutics divestiture and related charges, and **$3.8 million** for expenses related to decommercialization of Otrexup[23](index=23&type=chunk)[25](index=25&type=chunk) [GAAP Net Loss and EPS to Non-GAAP Adjusted Earnings and EPS (Three Months)](index=10&type=section&id=RECONCILIATION%20OF%20GAAP%20NET%20LOSS%20and%20NET%20LOSS%20PER%20SHARE%20TO%20NON-GAAP%20ADJUSTED%20EARNINGS%20and%20ADJUSTED%20EARNINGS%20PER%20SHARE%20(Three%20Months)) For Q2 2025, GAAP Net Loss was $(16.4) million, resulting in Adjusted Earnings (Non-GAAP) of $1.5 million, or $0.02 per diluted share, an increase from $0.7 million, or $0.01 per diluted share, in Q2 2024 Reconciliation of GAAP Net Loss and EPS to Non-GAAP Adjusted Earnings and EPS (Three Months Ended June 30) | Metric | 2025 Amount (in thousands) | 2025 Diluted EPS | 2024 Amount (in thousands) | 2024 Diluted EPS | | :-------------------------------- | :------------------------- | :--------------- | :------------------------- | :--------------- | | Net loss (GAAP) | $(16,352) | $(0.17) | $(3,674) | $(0.04) | | Adjusted earnings (Non-GAAP) | $1,514 | $0.02 | $659 | $0.01 | - Key adjustments included amortization of intangible assets (**$9.2 million**), loss on Assertio Therapeutics divestiture and related charges (**$9.2 million**), and expenses related to decommercialization of Otrexup (**$3.8 million**)[27](index=27&type=chunk) [GAAP Net Loss and EPS to Non-GAAP Adjusted Earnings and EPS (Six Months)](index=11&type=section&id=RECONCILIATION%20OF%20GAAP%20NET%20LOSS%20and%20NET%20LOSS%20PER%20SHARE%20TO%20NON-GAAP%20ADJUSTED%20EARNINGS%20and%20ADJUSTED%20EARNINGS%20PER%20SHARE%20(Six%20Months)) For the six months ended June 30, 2025, GAAP Net Loss was $(29.9) million, leading to an Adjusted Loss (Non-GAAP) of $(2.4) million, or $(0.03) per diluted share, compared to Adjusted Earnings of $4.3 million, or $0.05 per diluted share, in the prior year Reconciliation of GAAP Net Loss and EPS to Non-GAAP Adjusted Earnings and EPS (Six Months Ended June 30) | Metric | 2025 Amount (in thousands) | 2025 Diluted EPS | 2024 Amount (in thousands) | 2024 Diluted EPS | | :-------------------------------- | :------------------------- | :--------------- | :------------------------- | :--------------- | | Net loss (GAAP) | $(29,893) | $(0.31) | $(8,184) | $(0.09) | | Adjusted (loss) earnings (Non-GAAP) | $(2,441) | $(0.03) | $4,349 | $0.05 | - Key adjustments for the six months included amortization of intangible assets (**$18.5 million**), loss on Assertio Therapeutics divestiture and related charges (**$9.3 million**), and expenses related to decommercialization of Otrexup (**$3.8 million**)[31](index=31&type=chunk)

Core Insights - Assertio Holdings, Inc. reported total net product sales of $28.8 million for the second quarter of 2025, a decrease from $30.7 million in the same period last year [1][3] - The company narrowed its guidance for net product sales and adjusted EBITDA for the full year, reflecting first-half performance and operational efficiencies [9] Financial Performance - Net product sales for the first half of 2025 totaled $54.8 million, down from $62.6 million in the first half of 2024 [3] - The net loss for the second quarter was $16.4 million, compared to a net loss of $3.7 million in the prior year quarter [3][20] - Adjusted EBITDA for the second quarter was $5.6 million, an increase from $3.1 million in the prior year quarter [3][20] Product Performance - Rolvedon achieved net product sales of $16.1 million, up from $15.1 million in the prior year quarter, driven by higher volume and favorable adjustments [6] - Sympazan's net product sales increased to $3.2 million from $2.7 million, attributed to additional sales support [6] - Indocin's net product sales decreased to $3.0 million from $6.9 million due to generic competition [6] Cost Management - Selling, general and administrative (SG&A) expenses decreased to $17.0 million from $18.4 million, aided by a one-time benefit from employee retention tax credits [6] - The company is streamlining operations and consolidating products from acquired subsidiaries to optimize costs [2][14] Balance Sheet and Cash Flow - As of June 30, 2025, cash and investments totaled $98.2 million, up from $87.3 million at the end of the first quarter [5] - The company reported a debt of $40.0 million, consisting of 6.5% convertible notes with no maturities until September 2027 [7] Strategic Initiatives - Assertio has ceased commercialization of Otrexup to focus on core growth assets and improve operating expenses [14] - The company plans to present new data on Sympazan at the American Neurological Association Annual Meeting in September [14]

Core Viewpoint - Assertio Holdings, Inc. is set to release its second quarter 2025 financial results on August 11, 2025, after market close, followed by a live webcast conference call to discuss the results and strategic plans for 2025 [1]. Group 1 - The financial results announcement is scheduled for August 11, 2025, after market close [1]. - A live webcast conference call will take place at 4:30 p.m. Eastern Time on the same day to discuss the financial results and provide updates on the company's strategic plans for 2025 [1]. - Investors can access the live webcast and related materials through Assertio's investor relations website [2]. Group 2 - Assertio is a pharmaceutical company focused on oncology, neurology, and pain management, offering differentiated products to meet patient needs [4]. - The company emphasizes its comprehensive commercial capabilities in the pharmaceutical sector [4]. Group 3 - A replay of the conference call will be available approximately two hours after the live event on Assertio's investor website [3]. - For those wishing to join by telephone, a specific dial-in number and call ID have been provided [2].

Group 1: Company Overview - Assertio (ASRT) is a specialty pharmaceutical company focused on branded prescription medications for neurology, inflammation, and pain [1] - Bridgeline Digital (BLIN) operates as a digital engagement company, offering a platform that integrates Web Content Management, e-commerce, e-marketing, Social Media management, and Web Analytics [2] - Booz Allen Hamilton (BAH) provides management and technology consulting, analytics, engineering, digital solutions, mission operations, and cyber expertise to governments, corporations, and not-for-profit organizations [3] Group 2: Earnings Estimates - The Zacks Consensus Estimate for Assertio's current year earnings has been revised downward by 83.3% over the last 60 days [1] - Bridgeline Digital's current year earnings estimate has been revised downward by almost 47.1% over the last 60 days [2] - Booz Allen Hamilton's current year earnings estimate has been revised downward by 6.8% over the last 60 days [3]

Financial Performance & Outlook - The company's Q1 2025 net product sales were $26 million[27] - The company's Q1 2025 non-GAAP adjusted EBITDA was $02 million[27] - The company's Q1 2025 operating cash flow was -$125 million[27] - The company anticipates full-year 2025 net product sales of $108-123 million[27] - The company anticipates full-year 2025 non-GAAP adjusted EBITDA of $10-19 million[27] Strategic Priorities - The company is focused on a "Transformation" phase to catalyze future growth potential[28, 29] - The company aims to simplify its corporate structure and processes[28, 29, 36] - The company intends to divest declining or non-core assets[28, 29, 36] - The company will prioritize investment in growth assets like Rolvedon and Sympazan[28, 29, 36] - The company seeks to reduce legal exposure[28, 29, 36] - The company plans to use its balance sheet to close a strategic transaction[28, 29, 36]

Assertio Holdings (ASRT) Conference Summary Company Overview - Assertio Holdings is a specialty pharmaceuticals company with a market cap of approximately $70 million and shares trading at around 70¢ [2][4] - The company is focused on long-term growth and has a leadership team with extensive commercial experience in various therapeutic areas [5][6] Core Assets and Financial Performance - Assertio's core assets include Rovidone and SYMPAZAN, with Rovidone being a novel long-acting G-CSF approved in the last twenty years, targeting a market worth about $1 billion [8][9] - The company reported net sales of $26 million for the first quarter and maintains a positive adjusted EBITDA with a cash balance of nearly $90 million [9] - The financial outlook for the year includes projected net sales of $108 to $123 million and non-GAAP EBITDA of $10 to $20 million [10] Transformation and Growth Strategy - The company is in a transformation phase, simplifying its corporate structure and optimizing its asset portfolio, focusing on growth assets like Rovidone and SYMPAZAN [12][15] - Assertio aims to reduce legal exposure, which will allow for reinvestment into the business and positively impact EBITDA [13][14] - Business development is seen as a key enabler for future growth, with a focus on oncology, neurology, and rare diseases [14] Product Insights - Rovidone contributes over half of the total net sales and is expected to grow modestly this year, with plans to expand into the commercial segment by 2026 [19][21] - SYMPAZAN, an oral film formulation for Lennox Gastaut syndrome, is projected to grow to $13 million this year and has the potential to reach $25 million in the coming years [28] Competitive Landscape - The market for white blood cell stimulants is competitive, with Rovidone competing against biosimilars like Neulasta. Assertio is focused on managing average selling prices (ASP) smartly to sustain growth [23][24] Legal and Operational Improvements - Assertio has successfully reduced its litigation overhead, particularly related to opioid litigation, which has allowed for a cleaner balance sheet and operational focus [36][38] - The company has divested certain assets to streamline operations and eliminate legal distractions [38] Future Outlook - The CEO expressed optimism about the company's trajectory, aiming for significant growth and improved operational efficiency over the next year [41][42] - Assertio is positioned to explore mergers and acquisitions to enhance its portfolio, supported by a strong balance sheet with $40 million in convertible debt due in 2027 [34][35] Key Takeaways - Assertio is undergoing a transformation aimed at growth, with a focus on optimizing its asset portfolio and reducing legal distractions [12][15] - The company has a solid financial outlook and is strategically positioned to capitalize on growth opportunities in specialty pharmaceuticals [10][14] - Assertio's leadership is optimistic about future performance, with plans to enhance product offerings and expand market presence [41][42]

Core Viewpoint - Assertio Holdings, Inc. will be presenting at the virtual Alliance Global Partners Healthcare Company Showcase on May 21, 2025, highlighting its focus on patient needs in the pharmaceutical sector [1]. Company Overview - Assertio is a pharmaceutical company with comprehensive commercial capabilities, offering differentiated products aimed at addressing patients' needs [3]. - The company's primary focus areas include oncology, neurology, and pain management [3]. Event Details - Brendan O'Grady, the CEO of Assertio, will participate in a fireside chat that will be webcast live at 11:20 a.m. ET [2]. - Interested participants can register for the event through a provided link or visit the company's investor relations website [2].

Core Insights - Assertio (ASRT) reported a quarterly loss of $0.14 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.06, marking an earnings surprise of -133.33% [1] - The company's revenues for the quarter ended March 2025 were $26.49 million, missing the Zacks Consensus Estimate by 5.23% and down from $32.45 million a year ago [2] - Assertio shares have declined approximately 30% year-to-date, contrasting with the S&P 500's decline of -3.8% [3] Financial Performance - Over the last four quarters, Assertio has surpassed consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is -$0.06 on revenues of $27.54 million, and for the current fiscal year, it is -$0.12 on revenues of $116.78 million [7] Market Outlook - The estimate revisions trend for Assertio is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] - The Medical - Drugs industry, to which Assertio belongs, is ranked in the top 27% of over 250 Zacks industries, suggesting a favorable industry outlook [8]

Financial Data and Key Metrics Changes - In Q1 2025, net product sales were $26 million, slightly ahead of expectations, compared to $31.9 million in the prior year quarter [6][15] - Gross margin increased to 70% from 65% a year ago, although the prior year's gross margin was 78% when excluding inventory step-up [17] - GAAP net income for Q1 was a loss of $13.5 million, compared to a loss of $4.5 million in the prior year [19] - Adjusted EBITDA for Q1 was $200,000, down from $7.4 million in the prior year quarter [19] Business Line Data and Key Metrics Changes - ROLVOIDON sales were stable, with strong demand expected to continue [6][7] - SYMPAZAN prescriptions increased by 6.5% year over year, indicating a positive trend [7] - Indocin sales were $5.5 million, down from $8.7 million in the prior year due to generic competition [16] Market Data and Key Metrics Changes - The company is focusing on expanding payer coverage, having recently strengthened relationships with Cigna [6][10] - The primary business for ROLVOIDON is in community oncology Medicare Part B, with plans to expand into hospital settings [31] Company Strategy and Development Direction - The company is in a transformation phase aimed at reducing legal exposure, simplifying corporate structure, and prioritizing growth investments [10][11] - The growth phase is expected to begin in 2026, with a focus on becoming a leading specialty pharma company [10][14] - The company plans to divest non-core assets to reallocate resources towards growth [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the full year net product sales and adjusted EBITDA outlook [6][21] - The company is optimistic about ongoing strategic conversations that may enhance its commercial portfolio [46] - Management does not foresee immediate risks from tariffs or drug pricing changes, given current inventory levels [59][61] Other Important Information - Cash and investments as of March 31, 2025, totaled $87.3 million, down from $100.1 million at the end of 2024 [19] - The company has settled multiple legal matters, which is expected to reduce legal costs moving forward [11][12] Q&A Session Summary Question: Was there any value movement regarding the opioid litigation matters? - Management indicated that there was nominal value received in the settlement [23] Question: How should cash be used to bring down accrued liabilities? - Management expects the use of cash to occur relatively evenly throughout the year [25] Question: Any updates on same day dosing and NCCN? - Management is executing a twelve-month strategy and hopes for publication in a peer-reviewed journal by mid-summer [27] Question: Progress on expanding Rovodon into hospital settings? - The strategy involves building payer coverage to unlock commercial channels and hospital access [32] Question: Why not adjust the adjusted EBITDA guidance down after Q1 results? - Management believes there are still too many variables to adjust the guidance down at this time [34] Question: Expectations for Indocin's generic competition? - Management anticipates two more generics entering the market in 2025, which will impact revenue [41] Question: Any updates on strategic business development? - Management is optimistic about ongoing positive conversations for potential growth opportunities [46] Question: Impact of tariffs and drug pricing changes? - Management does not foresee immediate risks from tariffs or drug pricing changes [59][61]

Financial Data and Key Metrics Changes - In Q1 2025, net product sales were $26 million, slightly ahead of expectations, compared to $31.9 million in the prior year quarter [5][13] - Adjusted EBITDA for Q1 was $200,000, down from $7.4 million in the prior year quarter, primarily due to lower net sales and gross margin [16] - GAAP net income for Q1 was a loss of $13.5 million, compared to a loss of $4.5 million in the prior year [16] Business Line Data and Key Metrics Changes - ROLVOIDON sales were $13.1 million, down from $14.5 million in the prior year, impacted by lower pricing but partially offset by higher volume [13] - SYMPAZAN sales decreased to $2.2 million from $2.6 million, affected by pricing and volume [14] - Indocin net product sales were $5.5 million, down from $8.7 million, due to generic competition [13] Market Data and Key Metrics Changes - The demand for ROLVOIDON remains strong, with expectations for net sales to continue increasing throughout the year [6] - The promotional strategy for SYMPAZAN has shown effectiveness, with total prescriptions up 6.5% year over year [6] Company Strategy and Development Direction - The company is in the transformation phase of its three-phase strategy, focusing on reducing legal exposure, simplifying corporate structure, prioritizing growth investments, divesting non-core assets, and leveraging its balance sheet for strategic transactions [8][9] - The growth phase is expected to begin in 2026, aiming to establish the company as a leading specialty pharma entity [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving sustainable near-term growth and increasing long-term value, despite challenges from generic competition and pricing pressures [18] - The company is optimistic about ongoing conversations for strategic transactions that could enhance its business [44] Other Important Information - The company has settled multiple legal matters, including significant lawsuits, which is expected to reduce legal costs and refocus resources on business operations [9][10] - As of March 31, 2025, cash and investments totaled $87.3 million, down from $100.1 million at the end of 2024 [16] Q&A Session Summary Question: Was there any value movement regarding the opioid litigation matters? - The company received nominal value in the settlement [20] Question: How should cash be used to bring down accrued liabilities? - The company expects to manage this relatively evenly throughout the year, primarily driven by ROLVOIDON's ASP-based pricing [21] Question: Any updates on same-day dosing progress with NCCN? - The company is on track for a publication in a peer-reviewed journal and plans to approach NCCN for inclusion in guidelines for 2026 [23][24] Question: Progress on expanding ROLVOIDON into the hospital setting? - The company is focusing on building payer coverage to unlock commercial channels and penetrate hospitals [29] Question: Why maintain the adjusted EBITDA guidance despite Q1 results? - The company believes there are still too many variables to adjust the guidance down at this time [30] Question: Expectations for Indocin's generic competition? - The company anticipates two more generics entering the market this year, which will impact revenue [39] Question: Any updates on strategic business development opportunities? - The company is optimistic about ongoing positive conversations for potential strategic transactions in 2025 [44] Question: Impact of tariffs and drug pricing changes? - The company does not foresee immediate risks from tariffs or drug pricing changes, as it primarily sells within the U.S. [57][59] Question: Confirmation of revenue guidance post-divestiture? - The company confirmed it is maintaining its revenue guidance of $108 million to $122 million [61]