Assertio Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Assertio Holdings, Inc. reported fourth quarter net product sales of $29.6 million, a slight increase from$28.7 million in the previous quarter, and full year net product sales of $120.8 million, down from$149.5 million in 2023 [1][4][11] - The company generated cash flow from operations of $11.5 million in the fourth quarter and$26.4 million for the full year, with cash and investments totaling $100.1 million at year-end [1][11] - Assertio's CEO highlighted 2024 as a year of stabilization, focusing on Rolvedon as the primary asset and enhancing the leadership team [2][3] Financial Performance - Fourth quarter net loss was$10.5 million, compared to a net loss of $2.9 million in the previous quarter and a net loss of$57.4 million in the same quarter of 2023 [4][11] - Adjusted EBITDA for the fourth quarter was a loss of $0.5 million, down from a gain of$5.3 million in the prior quarter [11][25] - Gross margin decreased to 61% in the fourth quarter from 74% in the third quarter, primarily due to higher inventory write-downs [4][11] Product Sales - Rolvedon net product sales reached $15.4 million in the fourth quarter, an increase of$0.4 million from the previous quarter, while Indocin net product sales were $5.5 million, down from$5.7 million [4][11] - The company expects 2025 to be transformational, focusing on revenue growth initiatives for Rolvedon and Sympazan [3][4] Strategic Initiatives - Assertio is pursuing an acquisition strategy to enhance its commercial assets and scale for near-term growth [4][3] - The company aims to manage legal exposure and associated costs while simplifying its structure [3][4] Balance Sheet and Guidance - Assertio's initial guidance for 2025 includes net product sales between $108 million and$123 million and adjusted EBITDA between $10 million and$19 million [6] - As of December 31, 2024, the company had total assets of $284.7 million and total liabilities of$163.7 million [19][21]