- Assertio ( NASDAQ: ASRT ) has reported prelim net product sales of $49M-$50M (vs. $46.90M estimated ) for its fourth quarter, representing an year-over-year growth of at least 54%. This also marks the drugmaker's highest quarter of net product sales in the past five years.
- Q4 adjusted EPS is expected to come in at $0.31-$0.32 compared to $0.21 consensus estimate.
- For full year, the company estimates net product sales between $154M-$155M and adjusted EPS of $1.18-$1.19. Analysts project the company to earn $0.64 on revenue of $152.78M.
- CEO comments: "Assertio’s preliminary 2022 results demonstrated our ability to scale net product sales and generate substantial cash flow to fund our growth objectives, both organic and strategic. We ended 2022 with cash and cash equivalents of $64.9 million, which was greater than our September cash balance even after funding $25 million of asset purchase payments for Otrexup and Sympazan in the fourth quarter."
- The firm will announce fourth quarter and audited full year 2022 financial results on March 8, 2023.
- Shares were down around 5% in premarket trading
For further details see:
Assertio sees Q4 adjusted earnings of $0.31-$0.32