From GlobeNewswire: 2024-11-11 16:02:00

Assertio Holdings, Inc. reported third quarter total net product sales of $28.7 million, with Rolvedon net product sales at $15.0 million. Cash and short-term investments stood at $88.6 million. CEO Brendan O’Grady highlighted stable performance of Rolvedon and new sales tactics for Sympazan to drive growth. Adjusted EBITDA for the quarter was $5.3 million.

Key financial highlights for the third quarter included stable Rolvedon net product sales, decreased Indocin net product sales, and an increased gross margin of 74%. SG&A expenses were lower at $16.7 million. Adjusted EBITDA increased to $5.3 million due to lower SG&A expenses.

Cash, cash equivalents, and short-term investments for the quarter were $88.6 million. Debt at September 30, 2024 was $40.0 million from the Company’s 6.5% convertible notes. Board updates saw Peter Staple and Dr. Jeffrey Vacirca retire, with Heather Mason appointed as Board Chair and David Stark as an independent director.

Assertio’s management will host a conference call to discuss third quarter financial results on Monday, November 11, 2024, at 4:30 p.m. Eastern Time. Adjusted earnings for the third quarter were $2.4 million, with adjusted earnings per share of $0.03. For the nine months ended September 30, 2024, adjusted earnings were $8.2 million, with adjusted earnings per share of $0.09.



Read more at GlobeNewswire:: Assertio Reports Third Quarter 2024 Financial Results