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ASRT Assertio

Assertio Holdings, Inc. operates as a holding company. The firm develops pharmaceuticals. It engages in the provision of solutions to advance patient care in the areas of neurology, orphan and specialty medicines. The company was founded on August 7, 1995 and is headquartered in Lake Forest, IL.

Company profile

Ticker
ASRT
Exchange
CEO
Todd N. Smith
Employees
Incorporated
Location
Fiscal year end
Former names
Assertio Therapeutics, Inc, DEPOMED INC, DEPOMED INC
SEC CIK
Subsidiaries
Assertio Therapeutics, Inc. • Depo DR Sub, LLC • Depo NF Sub, LLC • Assertio Management, LLC • Assertio Distribution, LLC • Alligator IP, LLC • Zyla Life Sciences, Inc. • Zyla Life Sciences US Inc. • Egalet Limited ...
IRS number
850598378

ASRT stock data

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Calendar

5 Aug 21
19 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Assertio earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 54.43M 54.43M 54.43M 54.43M 54.43M 54.43M
Cash burn (monthly) 2.2M 414.58K 4.82M 4.32M 747K (positive/no burn)
Cash used (since last report) 8.02M 1.51M 17.56M 15.71M 2.72M n/a
Cash remaining 46.41M 52.92M 36.87M 38.72M 51.71M n/a
Runway (months of cash) 21.1 127.6 7.6 9.0 69.2 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Sep 21 Peisert Daniel A. Common Stock Payment of exercise Dispose F No No 0.93 851 791.43 92,030
18 Sep 21 Peisert Daniel A. Common Stock Option exercise Acquire M No No 0 2,905 0 92,881
18 Sep 21 Peisert Daniel A. RSU Common Stock Option exercise Dispose M No No 0 2,905 0 0
15 Aug 21 Peisert Daniel A. Common Stock Payment of exercise Dispose F No No 1.21 132 159.72 89,976
15 Aug 21 Peisert Daniel A. Common Stock Option exercise Acquire M No No 0 453 0 90,108
15 Aug 21 Peisert Daniel A. RSU Common Stock Option exercise Dispose M No No 0 453 0 0
31 Jul 21 Ajay Patel Common Stock Payment of exercise Dispose F No No 1.26 2,271 2.86K 23,988.934
31 Jul 21 Ajay Patel Common Stock Option exercise Acquire M No No 0 8,060 0 26,259.934
31 Jul 21 Ajay Patel RSU Common Stock Option exercise Dispose M No No 0 8,060 0 8,060
20 May 21 Peisert Daniel A. Common Stock Buy Acquire P No No 1.54 15,909 24.5K 89,655

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

24.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 44 62 -29.0%
Opened positions 4 8 -50.0%
Closed positions 22 11 +100.0%
Increased positions 6 19 -68.4%
Reduced positions 29 15 +93.3%
13F shares
Current Prev Q Change
Total value 13.97M 27.6M -49.4%
Total shares 10.97M 41.69M -73.7%
Total puts 161.93K 456.1K -64.5%
Total calls 986.85K 1.03M -3.9%
Total put/call ratio 0.2 0.4 -63.1%
Largest owners
Shares Value Change
D. E. Shaw & Co 2.32M $830K 0.0%
Vanguard 1.92M $3M -75.8%
Jacobs Levy Equity Management 1.04M $1.62M +1.2%
BLK Blackrock 782.45K $1.22M -79.0%
Littlejohn & Co 781.43K $1.22M +27.1%
Mariner 701.4K $1.09M -64.9%
Renaissance Technologies 681.59K $1.06M -82.6%
Ci Investments 584.47K $912K -75.0%
Tekla Capital Management 410.58K $640K -75.0%
Geode Capital Management 336.81K $525K -75.7%
Largest transactions
Shares Bought/sold Change
Highbridge Capital Management 0 -6.16M EXIT
Vanguard 1.92M -6M -75.8%
Renaissance Technologies 681.59K -3.24M -82.6%
BLK Blackrock 782.45K -2.94M -79.0%
Acadian Asset Management 0 -2.33M EXIT
Ci Investments 584.47K -1.75M -75.0%
Mariner 701.4K -1.3M -64.9%
Tekla Capital Management 410.58K -1.23M -75.0%
Geode Capital Management 336.81K -1.05M -75.7%
D. E. Shaw & Co. 79.28K -758.01K -90.5%

Financial report summary

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Risks
  • If we do not successfully commercialize our products, our business, financial condition and results of operations will be materially and adversely affected.
  • Our commercialization, collaborative and other arrangements may give rise to disputes over commercial terms, contract interpretation and ownership or protection of our intellectual property and may adversely affect the commercial success of our products.
  • We and our commercial partners may be unable to compete successfully in the pharmaceutical industry.
  • If we or our commercialization partners are unable to negotiate acceptable pricing or obtain adequate reimbursement for our products from third-party payors, our business will suffer.
  • Business interruptions can limit our ability to operate our business and adversely impact the success of our commercialization partners.
  • Data breaches and cyber-attacks can compromise our intellectual property or other sensitive information and cause significant damage to our business.
  • Our success is dependent in large part upon the continued services of our executive management team with whom we do not have employment agreements.
  • Despite our corporate structure, creditors of either Assertio Therapeutics or Zyla could be successful in piercing the corporate veil and reaching the assets of one another, which could have an adverse effect on us and our operating results, results from continued operations, and financial condition.
  • Governmental investigations and inquiries, regulatory actions and lawsuits brought against us by government agencies and private parties with respect to Assertio Therapeutics’ historical commercialization of opioids can adversely affect our business, financial condition and results of operations.
  • We face risks relating to product liability losses and other litigation liability for which we may be unable to maintain or obtain adequate protection.
  • Pharmaceutical marketing is subject to substantial regulation in the U.S. and any failure by us or our commercial and collaborative partners to comply with applicable statutes or regulations can adversely affect our business.
  • Healthcare reform can increase our expenses and adversely affect the commercial success of our products.
  • We are not always able to protect our intellectual property and are subject to risks from liability for infringing the intellectual property of others.
  • Settlements to ANDA litigation can be challenged and have the potential to lead to significant damage awards.
  • Our existing capital resources are not necessarily sufficient to fund our future operations or product acquisitions and strategic transactions that we may pursue.
  • Acquisition of new and complementary businesses, products and technologies is a key element of our corporate strategy. Failure to successfully identify and acquire such businesses, products or technologies will limit our business growth and prospects.
  • Strategic transactions that fail to achieve the anticipated results and synergies will cause our business to suffer.
  • Failure to integrate any business, product or technology we acquire, will cause our business, financial condition and operating results to suffer.
  • The market price of our common stock historically has been volatile. Our results of operations have and may continue to fluctuate and affect our stock price.
  • We have incurred operating losses in the past and may incur operating losses in the future.
  • We have significant amounts of long-lived assets which depend upon future positive cash flows to support the values recorded in our balance sheet. We are subject to increased risk of future impairment charges should actual financial results differ materially from our projections.
  • Our customer concentration can materially adversely affect our financial condition and results of operations.
  • Our product revenues have typically been lower in the first quarter of the year as compared to the fourth quarter of the preceding year.
  • Changes in fair value of contingent consideration assumed as part of our acquisitions and the Zyla Merger can adversely affect our results of operations.
  • If we are unable to satisfy regulatory requirements relating to internal controls, our stock price could suffer.
  • Our financial results are impacted by management’s assumptions and use of estimates.
  • The development of drug candidates is inherently difficult and uncertain, and we cannot be certain that any of our future product candidates or those of our collaborative partners will be approved for marketing or, if approved, will achieve market acceptance.
  • We and our collaborative partners customarily depend on third-party contract research organizations, clinical investigators and clinical sites to conduct clinical trials with regard to product candidates, and if they do not perform their regulatory, legal and contractual obligations, or successfully enroll patients in and manage our clinical trials, we and our collaborative partners may not be able to obtain regulatory approvals for product candidates.
  • Failure to obtain or maintain regulatory approval for our products, our raw materials or future product candidates, will limit our ability to commercialize our products, and our business will suffer.
  • We are subject to risks associated with NDAs submitted under Section 505(b)(2) of the FDCA.
  • Our business could be impacted as a result of actions by activist shareholders, including as a result of a potential proxy contest for the election of directors at our annual meeting.
  • We are subject to risks related to unsolicited takeover attempts in the future.
  • We do not intend to pay dividends on our common stock, so any returns on shares of our common stock will be limited to changes in the value of our common stock.
  • Our common stock may be delisted from the Nasdaq Capital Market if we are unable to regain compliance with Nasdaq's continued listing standards.
Management Discussion
  • (1)Products acquired in connection with May 20, 2020 Zyla Merger.
  • For the three and six months ended June 30, 2021, product sales primarily consisted of sales from INDOCIN Products, CAMBIA, Zipsor and SPRIX. We began shipping and recognizing product sales for INDOCIN Products and SPRIX upon the Zyla Merger on May 20, 2020.
  • CAMBIA net product sales for the three and six months ended June 30, 2021 decreased $1.7 million from $7.8 million to $6.1 million and $1.5 million from $14.1 million to $12.6 million, respectively, primarily due to lower volume partially offset by favorable payor mix.
Content analysis
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