The following is a summary of the Assertio Holdings, Inc. (ASRT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Assertio reported a second quarter revenue of $30.7 million, down from $31.9 million in the previous quarter.

• Rolvedon sales were $15.1 million, increasing from $14.5 million quarter-over-quarter.

• Indocin sales decreased to $6.9 million from $8.7 million due to generic competition.

• Gross margin was 71%, with a clean gross margin (excluding inventory step-up amortizations) at 73%.

• Operating expenses were slightly reduced while generating a GAAP net loss of $3.7 million, improving from a $4.5 million loss from the previous quarter.

• Cash from operations was $7.4 million, bringing total available cash to $88.4 million.

Business Progress:

• Completed Rolvedon enrollment for same day dosing trial, anticipating results presentation at a major conference this year.

• Focusing on competitive market positions with assets post-exclusivity loss, particularly for Indocin and introduction of other generic competitors.

• Scaling capabilities and preparing for strategic acquisitions that are accretive and align with Assertio's commercial model.

Opportunities:

• Rolvedon continues to exhibit strong demand growth, enhancing its role as a primary growth driver.

• Possibility to pursue acquisitions that leverage Assertio's strong cash reserves and fit its commercial model.

Risks:

• Continued erosion of Indocin's market share and revenue due to generic competition.

More details: Assertio IR

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