Assertio Holdings Files Q3 2024 10-Q

TL;DR

**Assertio Holdings Q3 10-Q is in. Check financials for latest pharma performance.**

AI Summary

Assertio Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the year. Key financial details and operational updates are provided for this period, reflecting the company's performance in the pharmaceutical preparations sector.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Assertio Holdings, Inc., crucial for understanding the company's current health and future prospects in the pharmaceutical market.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Assertio Holdings is subject to regulatory, market, and competitive risks inherent in the healthcare industry.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-11-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024-07-01 — Q3 Start Date (Beginning of the third fiscal quarter.)
• 2023-07-01 — Q3 2023 Start Date (Beginning of the third fiscal quarter for the prior year, for comparison.)

Key Players & Entities

• Assertio Holdings, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-12 (date) — Filing date
• 2834 (other) — Standard Industrial Classification for Pharmaceutical Preparations

FAQ

Key Financial Figures

• $0.0001 — nge on which registered: Common Stock, $0.0001 par value ASRT The Nasdaq Stock Market

Filing Documents

• asrt-20240930.htm (10-Q) — 1251KB
• exhibit311-q32024.htm (EX-31.1) — 11KB
• exhibit312-q32024.htm (EX-31.2) — 11KB
• exhibit321-q32024.htm (EX-32.1) — 6KB
• exhibit322-q32024.htm (EX-32.2) — 6KB
• 0001808665-24-000042.txt ( ) — 7346KB
• asrt-20240930.xsd (EX-101.SCH) — 55KB
• asrt-20240930_cal.xml (EX-101.CAL) — 94KB
• asrt-20240930_def.xml (EX-101.DEF) — 257KB
• asrt-20240930_lab.xml (EX-101.LAB) — 576KB
• asrt-20240930_pre.xml (EX-101.PRE) — 427KB
• asrt-20240930_htm.xml (XML) — 1180KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 Condensed Consolidated Statements of Shareholders' Equity for the three and nine months ended September 30, 2024 and 2023 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 Notes to Condensed Consolidated Financial Statements

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Controls and Procedures

Item 4. Controls and Procedures

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings

Risk Factors

Item 1A. Risk Factors

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Exhibits

Item 6. Exhibits

Signatures

Signatures 2

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS ASSERTIO HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) (Unaudited) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 37,981 $ 73,441 Short-term investments 50,598 — Accounts receivable, net 44,944 47,663 Inventories, net 39,788 37,686 Prepaid and other current assets 7,845 12,272 Total current assets 181,156 171,062 Property and equipment, net 624 770 Intangible assets, net 92,359 111,332 Other long-term assets 1,860 3,255 Total assets $ 275,999 $ 286,419 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 13,153 $ 13,439 Accrued rebates, returns and discounts 60,482 58,137 Accrued liabilities 12,964 18,213 Contingent consideration, current portion 3,000 2,700 Other current liabilities 505 954 Total current liabilities 90,104 93,443 Long-term debt 38,840 38,514 Other long-term liabilities 16,537 16,459 Total liabilities 145,481 148,416 Commitments and contingencies (Note 15 ) Shareholders' equity: Common stock, $ 0.0001 par value, 200,000,000 shares authorized; 95,360,756 and 94,668,523 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. 9 9 Additional paid-in capital 793,157 789,537 Accumulated deficit ( 662,648 ) ( 651,543 ) Total shareholders' equity 130,518 138,003 Total liabilities and shareholders' equity $ 275,999 $ 286,419 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 ASSERTIO HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in thousands, except per share data) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Product sales, net $ 28,705 $ 35,137 $ 91,262 $ 116,989 Royalties and milestones 499 490 1,516 1,910 Other revenue — — — 185 Total revenues 29,204 35,627 92,778 119,084 Costs and e