Core Viewpoint - Assertio Holdings, Inc. is set to release its fourth quarter and full year 2024 financial results on March 12, 2025, after market close, followed by a live webcast of the earnings conference call [1]. Group 1: Financial Results Announcement - The financial results for the fourth quarter and full year 2024 will be announced on March 12, 2025 [1]. - A live webcast of the earnings conference call will take place at 4:30 p.m. Eastern Time on the same day [1]. Group 2: Access Information - Investors can access the live webcast and conference call information through Assertio's investor relations website [2]. - It is recommended to connect at least 10 minutes prior to the webcast for any necessary software downloads [2]. - For those preferring to join by telephone, a specific dial-in number and call ID are provided [2]. Group 3: Webcast Replay - A replay of the earnings call will be available approximately two hours after the live call on Assertio's investor website [3]. Group 4: Company Overview - Assertio is a pharmaceutical company focused on marketing differentiated products in oncology, neurology, and pain management [4].

Core Insights - Assertio Holdings, Inc. has appointed Mark Reisenauer as an independent director to its Board of Directors, who will also serve on the Compensation Committee [1][2] - Reisenauer brings over 30 years of experience in oncology and hematology, having previously held significant roles at Astellas Pharmaceuticals, Micromet, and Abbott Laboratories [2][3] - The company aims to enhance its commercial platform and explore new pharmaceutical assets under Reisenauer's leadership [2] Company Overview - Assertio is a commercial pharmaceutical company that offers differentiated products to patients, built through acquisition or licensing of approved products [3] - The company has comprehensive commercial capabilities, including marketing through a sales force and non-personal promotion, market access through payor contracting, and trade and distribution [3]

Core Insights - Assertio Holdings, Inc. announced positive results from a clinical trial of Rolvedon® (eflapegrastim-xnst) injection for early stage breast cancer patients, presented at the San Antonio Breast Cancer Symposium [1][2] Group 1: Clinical Trial Results - The open-label, single-arm study involved 13 sites in the US, where patients received Rolvedon 30 minutes post-chemotherapy [2] - Rolvedon demonstrated a neutrophil count recovery time of 1.8 days and a febrile neutropenia rate of 2%, with no patients requiring hospitalization for febrile neutropenia [2] - No new safety signals were identified during the trial [2] Group 2: Company Statements - The CEO of Assertio expressed satisfaction with the trial results, emphasizing the potential of Rolvedon to improve the lives of patients undergoing chemotherapy [3] - The Senior Vice President of Medical highlighted the encouraging safety and efficacy profile of Rolvedon, supporting its potential to enhance patient outcomes and quality of life [4] Group 3: Company Overview - Assertio is a commercial pharmaceutical company with capabilities in marketing, market access, and distribution, built through acquisition or licensing of approved products [5]

Core Insights - Five stocks have been added to the Zacks Rank 1 (Strong Buy) List, indicating strong potential for investment Group 1: Company Earnings Estimates - Makita Corporation (MKTAY) has seen a 6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Assertio Holdings, Inc. (ASRT) has experienced an 11.8% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Choice Hotels International, Inc. (CHH) has reported a 6.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Leonardo DRS, Inc. (DRS) has seen a 7% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Brookline Bancorp, Inc. (BRKL) has experienced a 6.5% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3]

Financial Performance - Total revenues for Q3 2024 were $29,204, a decrease of 18.5% compared to $35,627 in Q3 2023[7] - Product sales, net for Q3 2024 were $28,705, down 18.2% from $35,137 in Q3 2023[7] - Net loss for Q3 2024 was $2,921, significantly improved from a net loss of $279,544 in Q3 2023[7] - Basic net loss per share for Q3 2024 was $(0.03), compared to $(3.42) in Q3 2023[7] - Total revenues for the three months ended September 30, 2023, were $36,718, and for the nine months ended September 30, 2023, were $159,528[32] - The net loss for the three months ended September 30, 2023, was $(314,282), and for the nine months ended September 30, 2023, was $(323,288)[32] - For the three months ended September 30, 2024, the Company reported a net loss of $2.9 million, with a basic and diluted net loss per share of $(0.03)[109] Expenses and Costs - Total costs and expenses for Q3 2024 were $32,252, a decrease from $263,898 in Q3 2023[7] - Research and development expenses for Q3 2024 were $1,005, down from $1,316 in Q3 2023[7] - Selling, general and administrative expenses for Q3 2024 were $16,726, a decrease from $21,005 in Q3 2023[7] - Amortization expense for the three months ended September 30, 2024, was $6.7 million, compared to $10.2 million for the same period in 2023, a decrease of 34.3%[43] - Selling, general and administrative expenses decreased by $4.3 million from $21.0 million for the three months ended September 30, 2023, to $16.7 million for the same period in 2024[172] - Research and development expenses rose to $2.5 million for the nine months ended September 30, 2024, up from $1.8 million in the same period of 2023, mainly due to ongoing clinical activities for ROLVEDON[200] - Selling, general and administrative expenses decreased to $53.6 million for the nine months ended September 30, 2024, from $54.7 million in the same period of 2023, attributed to lower transaction-related expenses and other cost reductions[201] Cash and Equity - Cash and cash equivalents at the end of the period were $37,981, down from $76,888 at the end of the previous year[14] - The company experienced a net decrease in cash and cash equivalents of $35,460 during the reporting period[14] - Shareholders' equity as of September 30, 2024, was $130,518, down from $192,873 as of September 30, 2023[9] - The company had 95,361 common shares outstanding as of September 30, 2024, an increase from 94,553 shares as of September 30, 2023[9] - The company’s total cash and cash equivalents as of September 30, 2024, amounted to $78.577 million, with $25.792 million classified as Level 1 and $52.785 million as Level 2[115] Acquisitions and Mergers - The acquisition of Spectrum Pharmaceuticals was completed on July 31, 2023, with a total fair value of consideration transferred amounting to $252,873, which includes $216,294 in Assertio shares issued[20][23] - The company completed the acquisition of Spectrum Pharmaceuticals on July 31, 2023, with Spectrum becoming a wholly-owned subsidiary[148] - Acquisition costs related to the Spectrum Merger recognized for the nine months ended September 30, 2023, were $8.5 million, with no costs recognized for the same period in 2024[29] - The contingent value rights (CVRs) associated with the Spectrum acquisition could result in additional payments of up to $44.7 million based on achieving specific sales milestones for the product ROLVEDON[24] - The contingent value rights (CVR) related to the Spectrum Merger could yield up to $0.20 based on future sales milestones of ROLVEDON, with specific targets set at $175 million for 2024 and $225 million for 2025[150] Legal Matters - The company is involved in multiple opioid-related litigations, including over 2,000 cases in the Multi-District Litigation court, with no trial dates set yet[79] - The company intends to vigorously defend itself in the qui tam lawsuit filed against it, which alleges violations of the federal False Claims Act and other laws[83] - The company is currently in negotiations with the DOJ regarding a potential settlement of the qui tam lawsuit, with mediation scheduled for December 2, 2024[85] - Assertio is involved in multiple securities class action lawsuits alleging false or misleading statements regarding the impact of INDOCIN sales and the Spectrum Merger on profitability[93] - The company has been named in several lawsuits across various states, asserting opioid-drug related claims against it[81] - The company has recorded a liability for a settlement agreement in principle regarding California state court lawsuits, which is not expected to materially impact its financial statements[76] Product Sales - ROLVEDON product sales for the three months ended September 30, 2024, were $15,021, compared to $7,132 for the same period in 2023, representing a 110% increase[33] - Total product sales for Q3 2024 were $28.7 million, a decrease of 6.5% from $30.7 million in Q2 2024, and a decrease of 18.2% from $35.1 million in Q3 2023[153] - INDOCIN net product sales for Q3 2024 were $5.7 million, a decrease of 17.4% from $6.9 million in Q2 2024, and a decrease of 68.5% from $17.9 million in Q3 2023[155] - ROLVEDON net product sales increased to $44.6 million for the nine months ended September 30, 2024, from $7.1 million in the same period of 2023, driven by the acquisition of Spectrum and higher volume[189] - Total product sales, net, decreased to $91.3 million for the nine months ended September 30, 2024, from $117.0 million in the same period of 2023, reflecting a shift in product mix and increased sales allowances[196] Future Expectations - The company expects total future amortization expense for its intangible assets to be $92,359, with the highest expected in 2025 at $19,407[44] - The company expects cost of sales as a percentage of sales to be negatively affected due to changes in product volume and mix for the remainder of 2024[167] - The company anticipates ongoing challenges for INDOCIN sales due to increasing competition from generic products[190] - The company expects continued negative impact on average selling prices for ROLVEDON due to higher discounts and rebates for the remainder of 2024[189]

Financial Performance - Total net product sales for Q3 2024 were $28.7 million, a decrease from $30.7 million in Q2 2024 and $35.1 million in Q3 2023[1][3] - Rolvedon net product sales remained stable at $15.0 million in Q3 2024, compared to $15.1 million in Q2 2024[2][4] - Indocin net product sales decreased to $5.7 million in Q3 2024 from $6.9 million in Q2 2024, impacted by generic competition[3][4] - Total revenues for the three months ended September 30, 2024, were $29,204, a decrease of 18.1% compared to $35,627 for the same period in 2023[16] - Product sales, net for the three months ended September 30, 2024, were $28,705, down 18.5% from $35,137 in the prior year[16] Expenses and Margins - Gross margin increased to 74% in Q3 2024, up from 71% in Q2 2024, due to reduced inventory write-downs[3][4] - SG&A expenses decreased to $16.7 million in Q3 2024 from $18.4 million in Q2 2024, primarily due to lower sales and marketing costs[3][4] - Research and development expenses increased to $1,005 for the three months ended September 30, 2024, compared to $1,316 in the same period last year[16] - Stock-based compensation for the three months ended September 30, 2024, was $1,296 thousand, down from $1,408 thousand in the previous quarter[25] - Amortization of intangible assets for the three months ended September 30, 2024, was $6,671 thousand, consistent with the previous quarter[25] Cash and Assets - Cash and short-term investments totaled $88.6 million as of September 30, 2024, slightly up from $88.4 million at June 30, 2024[5] - Cash and cash equivalents decreased to $37,981 as of September 30, 2024, down from $73,441 at the end of 2023[18] - Total assets decreased to $275,999 as of September 30, 2024, compared to $286,419 at the end of 2023[18] - The company had total current assets of $181,156 as of September 30, 2024, an increase from $171,062 at the end of 2023[18] Net Loss and Earnings - The net loss for the nine months ended September 30, 2024, was $11,105, significantly improved from a net loss of $274,558 in the same period of 2023[20] - The company reported a basic net loss per share of $0.03 for the three months ended September 30, 2024, compared to a loss of $3.42 in the same period last year[16] - GAAP net loss for the three months ended September 30, 2024, was $2,921 thousand, compared to a loss of $3,674 thousand for the previous quarter[22] - Adjusted earnings (Non-GAAP) for the nine months ended September 30, 2024, were $8,225, with a diluted EPS of $0.09, compared to $35,585 and a diluted EPS of $0.46 for the same period in 2023[26] - The diluted earnings per share (EPS) for the three months ended September 30, 2024, was $(0.03), compared to $(0.04) in the previous quarter[25] Strategic Initiatives - The company has implemented new sales and marketing tactics for Sympazan to enhance prescriber awareness and prescription growth[2] - The Rolvedon same-day dosing trial results will be presented at the San Antonio Breast Cancer Symposium in December 2024[2] - Assertio is evaluating new approaches to grow existing assets and considering the acquisition of additional assets for further growth[2] Liabilities and Cash Flow - Total liabilities were $145,481 as of September 30, 2024, a slight decrease from $148,416 at the end of 2023[18] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $14,860, down from $43,897 in the same period of 2023[20] - Total interest income for the three months ended September 30, 2024, was $(887) thousand, compared to $(842) thousand in the previous quarter[23] Impairment and Transaction Costs - The company reported a loss on impairment of intangible assets amounting to $238,831 thousand for the nine months ended September 30, 2023[25] - The company incurred transaction-related expenses of $2,736 thousand associated with the acquisition of Spectrum, which closed on July 31, 2023[25] - The company recorded a loss on impairment of intangible assets amounting to $238,831 for the nine months ended September 30, 2023[26] - The company reported transaction-related expenses of $8,539 for the nine months ended September 30, 2023[26]

Financial Data and Key Metrics Changes - Total product sales for Q3 2024 were $28.7 million, down from $30.7 million in Q2 2024, primarily due to a decline in INDOCIN sales [32] - ROLVEDON sales were $15 million in Q3 2024, compared to $15.1 million in Q2 2024, driven by continued volume growth offset by lower net pricing [32] - INDOCIN sales decreased to $5.7 million in Q3 2024 from $6.9 million in Q2 2024, attributed to lower net pricing due to generic competition [33] - Reported gross margin improved to 74% in Q3 2024 from 71% in Q2 2024, primarily due to inventory step-up amortization and write-downs not repeating [33] - GAAP net income for Q3 2024 was a loss of $2.9 million, an improvement from a loss of $3.7 million in Q2 2024 [35] - Adjusted EBITDA for Q3 2024 was $5.3 million, up from $5 million in Q2 2024, due to lower operating expenses [35] Business Line Data and Key Metrics Changes - ROLVEDON maintained a stable market share of approximately 33% in the oncology community clinic space, despite a dip in demand due to seasonality [22] - INDOCIN's market share is holding steady at around 50% of the ex-compounding market, with efforts to maintain and optimize pricing [25] - Sympazan has seen record demand levels in prescriptions due to new sales and marketing tactics, indicating potential for growth [26] Market Data and Key Metrics Changes - The GCSF market is highly competitive, with pricing declines anticipated to continue as market share equalizes [41] - ROLVEDON is positioned as a safe and effective non-biosimilar GCSF, which is resonating well with providers and patients [23] Company Strategy and Development Direction - The company is focused on stabilizing operations while transitioning from INDOCIN to ROLVEDON, aiming for transformational growth [18] - Plans to expand ROLVEDON's market presence into hospitals and community oncology clinics are underway, with a long-term growth strategy in mind [47] - The company is exploring both smaller and larger acquisition opportunities to enhance its portfolio, with a focus on strategic fit and pricing [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in ROLVEDON's safety and efficacy, emphasizing its role in future growth [10] - The company is committed to maintaining a strong balance sheet and executing a focused go-to-market strategy [20] - Management acknowledged the challenges posed by generic competition and dynamic pricing in the GCSF market but remains optimistic about future growth [41][47] Other Important Information - The company announced changes in its Board of Directors, including the retirement of Peter Staple and the appointment of Heather Mason as Chairwoman [14][16] - The same-day dosing trial for ROLVEDON concluded, with data to be presented at an upcoming symposium, which could influence future market positioning [24] Q&A Session Summary Question: Guidance for the remainder of the year - The company is maintaining its guidance range due to ongoing fluctuations in key areas, focusing on stabilizing the business and monitoring the competitive landscape [38] Question: Update on potential acquisitions - The company is considering both smaller and larger deals, with a preference for a more robust acquisition if the right opportunity arises [39] Question: Pricing stabilization for ROLVEDON - The GCSF market remains competitive, and pricing declines are expected to continue as market share stabilizes [41] Question: Timeline for NCCN guidelines on same-day dosing - The data will be made public in December, with a potential six-month timeline for consideration by NCCN [42] Question: Future growth expectations for ROLVEDON - The company anticipates continued growth for ROLVEDON as it expands into new markets, viewing it as a long-term asset [47] Question: SG&A expense outlook - SG&A expenses are expected to remain at current levels, reflecting seasonal trends and restructuring efforts [48] Question: Board member retirements - Peter Staple's retirement was planned due to approaching term limits, while Dr. Vacirca stepped back to focus on other business interests [50][51] Question: Market dynamics driving new customers to ROLVEDON - ROLVEDON's appeal lies in its safety and effectiveness, along with strategic contracting that helps maintain market share [53] Question: Future gross margin trends - The company aims to maintain gross margins between 70% and 75% in 2024, despite anticipated erosion due to product mix changes [58]

Assertio (ASRT) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this drugmaker would post a loss of $0.02 per share when it actually produced a loss of $0.04, delivering a surprise of -100%. Over the last four quarters, the company has surpassed co ...

Third Quarter Total Net Product Sales of $28.7 Million Rolvedon Net Product Sales of $15.0 Million Cash and Short-Term Investments of $88.6 Million LAKE FOREST, Ill., Nov. 11, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (Nasdaq: ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, today reported financial results for the third quarter ended September 30, 2024. "Third quarter results reflected solid perform ...

Claims about Rolvedon and Assertio’s Accounting Practices are False and Baseless Short-seller’s Press Release is Another Improper Attempt to Enrich Himself at Assertio’s Expense Company Considering Taking Legal and Regulatory Action LAKE FOREST, Ill., Nov. 11, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq: ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, today issued the following letter from Chi ...