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Sep 30, 2023
Assertio Q3 2023 Earnings Report
Assertio's Q3 2023 results were impacted by the loss of Indocin exclusivity and Rolvedon's underperformance, but the non-personal platform drove profitable growth on other assets.
Key Takeaways
Assertio Holdings reported disappointing Q3 2023 financial results, primarily due to the loss of Indocin exclusivity and lower-than-expected Rolvedon results. Net product sales increased slightly year-over-year, but the company experienced a significant net loss due to a charge for loss on impairment of intangible assets. Despite these challenges, the non-personal platform continues to drive growth for other assets like Sympazan and Otrexup.
Net product sales increased to $35.1 million from $34.3 million year over year.
A charge of $238.8 million was recorded for loss on impairment of intangible assets.
Cash and cash equivalents totaled $76.9 million at the end of the quarter.
Adjusted EBITDA decreased to $12.9 million from $21.4 million in the prior year quarter.
Forward Guidance
No specific forward guidance is provided in the document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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