{"id":456295,"date":"2021-03-11T16:04:15","date_gmt":"2021-03-11T21:04:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456295"},"modified":"2021-03-11T16:04:15","modified_gmt":"2021-03-11T21:04:15","slug":"assertio-reports-fourth-quarter-and-full-year-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/assertio-reports-fourth-quarter-and-full-year-2020-financial-results\/","title":{"rendered":"Assertio Reports Fourth Quarter and Full Year 2020 Financial Results"},"content":{"rendered":"
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\n Full Year Net Product Sales of $93.5 Million; Full Year Pro-Forma Revenue of $119.2 Million in Line with Guidance<\/em>
\n <\/strong>\n <\/p>\n

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\n Post Year-end Raised $45.3 Million in Cash, Net of Expenses, from Closing of Registered Direct Offerings<\/em>
\n <\/strong>\n <\/p>\n

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\n Announces Promotion of Chief Financial and Accounting Officers and Management Team <\/em>
\n <\/strong>\n <\/p>\n

LAKE FOREST, Ill., March 11, 2021 (GLOBE NEWSWIRE) — Assertio Holdings, Inc. (\u201cAssertio\u201d or the \u201cCompany\u201d) (Nasdaq: ASRT), a leading commercial pharmaceutical company bringing differentiated products to patients, today reported financial results for the fourth quarter and full year ended December 31, 2020 and provided a corporate update.<\/p>\n

\n Financial Highlights: <\/strong>
\n
\n (unaudited)<\/strong>\n <\/p>\n\n\n\n\n\n\n
(in millions)<\/td>\n\n Fourth-Quarter 2020<\/strong>\n <\/td>\n\n Full-Year 2020<\/strong>\n <\/td>\n<\/tr>\n
\n Net Product Sales (GAAP)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 29.8\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 93.5\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Pro-Forma Net Product Sales (Non-GAAP)<\/strong>
\n
\n (1)<\/strong>
\n <\/sup>\n <\/td>\n		\n $<\/strong>\n <\/td>\n\n 30.1\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 119.2\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net Loss (GAAP)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n (24.4<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n (28.1<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\n Adjusted EBITDA (Non-GAAP)<\/strong>
\n
\n (1)<\/strong>
\n <\/sup>\n <\/td>\n		\n $<\/strong>\n <\/td>\n\n 9.4\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 22.4\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n (1) All non-GAAP measures included in this earnings release are reconciled to the corresponding GAAP measures in the schedules attached<\/sup>\n <\/p>\n

\u201cAs we close the chapter on 2020, we reflect on several strategic shifts, including a move toward digital marketing, enhanced patient services, an increasing shift to our hub model, and a leaner operational profile with increased cash. These changes position us to be at the forefront of reinventing specialty pharma through engagement that physicians and patients find convenient and can access during their own time,\u201d said Dan Peisert, President and Chief Executive Officer of Assertio.<\/p>\n

\u201cCOVID-19 has rapidly accelerated the trend toward virtual engagement. We look forward to sharing more about how we are refining our commercial platform in the near future. We are also actively seeking additional assets that will address unmet needs for patients, be synergistic with our new commercial platform, and bring value to Assertio.\u201d<\/p>\n

\n Full Year 2020 and Subsequent Highlights:<\/strong>\n <\/p>\n