MediaProduction Investment thesis Okay, admitted: This one's a troubled child. At one point in 2015, the common stock of Assertio Holdings, Inc. (NASDAQ:ASRT) traded at ~$130. Less than a year later it had lost more than half of that value, and with the exception of a spike in late 2016, Assertio's share price has known only one way: Down. In addition to the poor performance on the stock exchange, Assertio caught the eye of Beckers Hospital Review which placed Assertio on its list of 31 drug makers at h ...

LAKE FOREST, Ill., Jan. 05, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT), a specialty pharmaceutical company that acquires, commercializes and develops safe and effective therapies that make a difference in the lives of patients, announced that effective January 2, 2024, the Compensation Committee of the Company's Board of Directors granted two newly-hired employee a total of 16,498 restricted stock units ("RSUs") and 18,654 stock options ("options"). The RSUs ...

Financial Data and Key Metrics Changes - Net product sales for Q3 2023 were $35.1 million, an increase from $34.3 million in the prior year but a decrease from $40.1 million in the previous quarter [17] - Adjusted EBITDA for Q3 was $12.9 million, down from $24.8 million last quarter and $21.4 million in the prior year quarter [21] - GAAP net loss for Q3 was $279.5 million compared to net income of $4.2 million in the prior year quarter, impacted by a $238.8 million impairment charge [25][24] Business Line Data and Key Metrics Changes - ROLVEDON generated $7.1 million in net product sales for the two months post-acquisition, with total sales of $8 million for Q3 [14][18] - INDOCIN family net sales decreased by 18% year-over-year due to generic competition [17] - Otrexup net sales were $2.8 million, down from $3 million in the prior year quarter, while Sympazan net sales increased by 4.2% to $2.1 million [19] Market Data and Key Metrics Changes - The net average selling price (ASP) decreased by 14% year-over-year due to short-term incentives previously offered to customers [19] - Inventory levels at the end customer level were approximately two months of demand at the end of Q3, down from four months at the end of Q2 [14] Company Strategy and Development Direction - The company is focused on stabilizing its base business and acquiring additional assets for diversification and long-term growth [8] - Management changes were announced to enhance oversight of market access, pricing, and distribution, indicating a strategic shift to improve operational efficiency [9] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment in Q3 results but emphasized the importance of business transformation and the strength of the balance sheet [5][7] - The competitive landscape for INDOCIN has become more challenging due to the entry of generics and compounded products, impacting sales [11][12] Other Important Information - The company is not providing formal guidance but is committed to maximizing the long-term potential of ROLVEDON and other products [10][37] - A restructuring plan was implemented following the acquisition of Spectrum, which included $3 million in restructuring charges [24] Q&A Session Summary Question: Can you break down the impact of inventory adjustments on INDOCIN sales? - Management indicated they do not have a specific dollar amount for the inventory adjustment but acknowledged it was a factor in the decline [28][30] Question: What is the market share situation with the compounder and generic products? - Management stated they are tracking slightly below the expected erosion curve but are still within statistical control [31][32] Question: Were short-term incentives for ROLVEDON offered by Spectrum? - Yes, the incentives were offered by Spectrum and will not continue under Assertio [34] Question: What is the outlook for ROLVEDON sales? - Management is not providing specific estimates but is focused on maximizing the brand's long-term potential [36][37] Question: How active is the company in seeking additional deals? - The company is accelerating business development efforts and is well-positioned to capitalize on opportunities [40][42] Question: What is the current pricing situation for INDOCIN? - Pricing is impacted at the wholesaler level, with competitors offering lower prices, affecting Assertio's sales [63]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 001-39294 ASSERTIO HOLDINGS, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Delaware 85-0598378 (STATE OR OTHER JURISDICTION O ...

Acquisition and Merger - The company completed the acquisition of Spectrum Pharmaceuticals on July 31, 2023, under a merger agreement, enhancing its portfolio in oncology products [116]. - Each share of Spectrum common stock was converted into the right to receive 0.1783 shares of the company's common stock and a contingent value right worth up to $0.20 per share based on future sales of ROLVEDON [117][119]. - The company anticipates that the results of Spectrum will be included in its consolidated financial statements from the effective date of the merger [119]. Financial Performance - Total revenues for the three months ended June 30, 2023, were $40.99 million, an increase of 2.4% from $35.13 million in the same period of 2022 [130]. - Total product sales, net, for the six months ended June 30, 2023, were $81.85 million, an increase of 15.4% from $70.98 million in the same period of 2022 [130]. - For the six months ended June 30, 2023, net income was $5.0 million, a decrease from $16.9 million for the same period in 2022 [166]. - Cash provided by operating activities was $41.3 million for the six months ended June 30, 2023, compared to $41.9 million in the same period in 2022 [165]. - Cash used in investing activities for the six months ended June 30, 2023, was $0.8 million, significantly lower than $16.5 million in the same period in 2022 [167]. - Cash used in financing activities for the six months ended June 30, 2023, was $35.3 million, compared to $9.9 million in the same period in 2022 [168]. Product Sales and Market Competition - INDOCIN net product sales increased by $5.2 million to $28.1 million for the three months ended June 30, 2023, compared to $22.8 million in 2022, driven by favorable net pricing despite a decrease in volume [132]. - Otrexup net product sales rose by $1.0 million to $3.6 million for the three months ended June 30, 2023, compared to $2.6 million in 2022, primarily due to higher volume [133]. - CAMBIA net product sales decreased by $4.4 million to $1.8 million for the three months ended June 30, 2023, compared to $6.2 million in 2022, mainly due to lower volume from generic competition [134]. - A generic version of INDOCIN Suppositories received FDA approval in August 2023, which may impact future sales and market competition [121][124]. - The company is focused on maintaining its market position despite the entry of generics and is developing strategies to enhance sales and marketing efforts [123][124]. Expenses and Financial Management - Selling, general, and administrative expenses increased by $6.2 million to $16.8 million for the three months ended June 30, 2023, primarily due to costs associated with the Spectrum Merger and higher marketing expenses [142]. - Research and development expenses were $0.5 million for both the three and six months ended June 30, 2023, representing costs associated with the proposed clinical trial for INDOCIN suppositories [141]. - Amortization of intangible assets decreased to $6.28 million for the three months ended June 30, 2023, from $7.97 million in 2022, primarily due to the full amortization of CAMBIA and Zipsor intangible assets [146]. - Other expense decreased from $2.36 million to $0.09 million for the three months ended June 30, 2023, primarily due to lower interest expenses [147]. - Debt-related expenses for the six months ended June 30, 2023, included an induced conversion expense of approximately $8.8 million related to a $30.0 million transaction [148]. - For the three and six months ended June 30, 2023, total interest expense decreased by $1.5 million and $2.7 million, respectively, compared to the same period in 2022, primarily due to lower interest incurred on outstanding debt [150]. Future Outlook and Strategy - The company expects potential future payments from the contingent value rights based on achieving specific sales targets for ROLVEDON, with $175 million in sales expected for 2024 and $225 million for 2025 [119]. - The company is committed to executing its business strategy, including product acquisitions and partnerships, to drive future growth [124]. - The company expects existing cash to be sufficient to fund operations and required payments under debt agreements for the next twelve months [159]. Tax and Financing Activities - The company recorded an income tax expense of $3.9 million for the three months ended June 30, 2023, representing an effective tax rate of 31.3% [152]. - The company completed a Convertible Note Exchange, exchanging $30.0 million principal amount of 2027 Convertible Notes for 6,990,000 shares of common stock and $10.5 million in cash [157]. - The company issued $70.0 million in aggregate principal amount of 2027 Convertible Notes, which are expected to reduce future cash interest expenses [156]. - The company has an ATM offering program with an aggregate offering price of up to $25.0 million, which was suspended following the issuance of the 2027 Convertible Notes [159]. Risks and Challenges - The company faces risks related to litigation, regulatory compliance, and market conditions that could affect its financial performance and operational results [126][127].

Assertio Holdings Inc. (NASDAQ:ASRT) Q2 2023 Earnings Call Transcript August 3, 2023 4:30 PM ET Company Participants Matt Kreps - Investor Relations Dan Peisert - President and CEO Paul Schwichtenberg - Senior Vice President and CFO Tom Riga - Outgoing CEO of Spectrum Pharmaceuticals Conference Call Participants Thomas Flaten - Lake Street Capital Markets Hamed Khorsand - BWS Financial Inc Jim Sidoti - SIDOTI & Company Scott Henry - Roth Capital Operator Good morning, and welcome to the Assertio Holdings In ...

Assertio Holdings, Inc. (NASDAQ:ASRT) Q4 2022 Earnings Conference Call March 8, 2023 4:30 PM ET Company Participants Matt Kreps - Darrow Associates, Investor Relations Dan Peisert - President & Chief Executive Officer Paul Schwichtenberg - Senior Vice President & Chief Financial Officer Conference Call Participants Thomas Flaten - Lake Street Scott Henry - ROTH Capital Hamed Khorsand - BWS Financial Mitra Ramgopal - Sidoti Operator Good afternoon and welcome to the Assertio Holdings' Fourth Quarter and Full ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 001-39294 ASSERTIO HOLDINGS, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Delaware 85-0598378 (STATE OR OTHER JURISDICTION OF (I ...

Assertio Holdings, Inc. Q4 2022 Financial Results -ASSERTIO= About This Presentation Statements in this communication that are not statements of historical fact are forward-looking statements that reflect Assertio's current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39294 ASSERTIO HOLDINGS, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 85-0598378 (STATE OR OTHER JURISDICTION OF (I.R.S ...