Assertio Holdings, Inc. SEC 10-Q Report
Lesedauer 1 min
Assertio Holdings, Inc., a specialty pharmaceutical company focused on oncology, neurology, and pain management, has released its Form 10-Q report for the third quarter. The report provides a detailed overview of the company's financial performance and operational highlights, reflecting the challenges and strategic initiatives undertaken during the period.
Financial Highlights
- Total Revenues: $26.5 million, a decrease from $32.4 million in the prior year period, primarily due to lower net product sales across key products.
- Loss from Operations: $(13.2) million, an increase from $(4.3) million in the prior year period, driven by higher selling, general and administrative expenses and increased amortization of intangible assets.
- Net Loss: $(13.5) million, an increase from $(4.5) million in the prior year period, reflecting the impact of decreased revenues and increased operating expenses.
- Basic and Diluted Net Loss Per Share: $(0.14), compared to $(0.05) in the prior year period, reflecting the increased net loss.
Business Highlights
- Revenue Segments: ROLVEDON net product sales decreased due to lower net pricing, despite higher volume. INDOCIN products experienced a decline in sales due to increased competition from generic entrants. Sympazan sales decreased due to unfavorable payor mix and lower volume, while SPRIX sales saw a slight increase.
- Product Portfolio: The company markets products in oncology, neurology, and pain management, with ROLVEDON as the lead product. Other key products include Sympazan, INDOCIN, Otrexup, SPRIX, and CAMBIA.
- Operational Strategy: The company employs a sales force and omni-channel promotional model to market its products, focusing on patient-centric approaches and differentiated products.
- Future Outlook: The company anticipates continued pressure on ROLVEDON pricing due to increased discounts and rebates. INDOCIN sales are expected to face further challenges from new and existing generic competition.
- Sales and Marketing: Selling and marketing expenses decreased, reflecting cost management efforts, while compliance expenses increased, indicating a focus on regulatory adherence.
- Restructuring Efforts: The company undertook restructuring to improve efficiencies within its sales and marketing organization, with expected completion by the end of the third quarter of 2025.
SEC Filing: Assertio Holdings, Inc. [ ASRT ] - 10-Q - May. 12, 2025