Last10K.com

Assertio Therapeutics, Inc (ASRT) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Assertio Therapeutics, Inc

HISTORY TOOLS
CIK: 1005201 Ticker: ASRT

Exhibit 99.1
 image0a01.jpg
Assertio Therapeutics Announces Fourth-Quarter and Full-Year 2018 Financial Results

-- Reports Neurology Franchise Annual Net Sales of $110.3 million, at the High End of Guidance Range --

-- Files NDA for Long-acting Cosyntropin and Receives FDA Notification of Acceptance --

-- Issues Full-Year 2019 Guidance for Earnings and Neurology Franchise Net Sales --

Lake Forest, Ill., March 6, 2019 - Assertio Therapeutics, Inc. (NASDAQ: ASRT) today reported financial results for the fourth quarter and year ended December 31, 2018, and provided an update on its business performance and strategic initiatives.

Financial Highlights:
(unaudited)
 
Fourth-Quarter 2018
Full-Year 2018
(in millions, except earnings per share)
GAAP
Non-GAAP (3)
GAAP
Non-GAAP (3)
Total Revenues (1) (2)
42.6
62.8
311.8
278.0
Net Income/(Loss)
(24.1)
23.1
36.9
93.2
Earnings/(Loss) Per Share
$(0.38)
$0.30
$0.57
$1.22
Adjusted EBITDA
—
41.0
—
155.3
(1) Fourth-quarter 2018 includes a $21.3 million adjustment reversal for the non-cash value assigned to inventory transferred to Collegium.
(2) Full-year 2018 includes a ($25.2) million adjustment reversal for the non-cash value assigned to inventory transferred to Collegium.
(3) All non-GAAP measures included in this earnings news release are reconciled to the corresponding GAAP measures in the schedules attached.

“Assertio’s 2018 financial performance met, or exceeded, our goals for the full year,” said Arthur Higgins, President and CEO of Assertio. “We delivered adjusted EBITDA at the high end of our current guidance range, and ahead of our original target, as well as neurology franchise sales at the high end of our current guidance range. In addition, we made significant progress throughout the year advancing our strategic, financial and operational goals, including the NDA filing of our long-acting cosyntropin. We look forward to another productive year ahead as we continue the transformation of Assertio into a biopharma company with sustainable growth and a promising pipeline."

Business Highlights:

•
FDA Accepted Filing of 505(b)(2) NDA Filing for Cosyntropin: On February 19, 2019, the Company received notification of acceptance for filing from the U.S. Food and Drug Administration for its 505(b)(2) New Drug Application for its injectable formulation of long-acting cosyntropin (synthetic adrenocorticotropic hormone, or ACTH). The Company, together with its partner West Therapeutic Development, LLC, seeks approval for the use of long-acting cosyntropin as a diagnostic drug in the screening of patients presumed to have adrenocortical insufficiency. The PDUFA date is October 19, 2019.

•
Strong Cash Generation and Debt Reduction: In 2018, the Company secured $97.0 million in non-dilutive cash through strategic transactions, of which approximately $65.0 million was received in 2018; the balance of $32 million was received on January 30, 2019. These cash inflows, as well as the Company’s own cash-flow generation, reduced total secured debt by $82.5 million from $365.0 million as of December 31, 2017 to $282.5 million as of December 31, 2018. As of December 31, 2018, the Company had cash and cash equivalents of $110.9 million.


1
The following information was filed by Assertio Therapeutics, Inc (ASRT) on Wednesday, March 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Assertio Therapeutics, Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Assertio Therapeutics, Inc.

Continue

Assess how Assertio Therapeutics, Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Assertio Therapeutics, Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Legal
Other
Filter Subcategory:
All
Expense
Income
Earnings
Product
Debt
Dividend
Geography
Other
Inside Assertio Therapeutics, Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii: Valuation And Qualifying Accounts
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income / Loss
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Accounts Receivables, Net
Accounts Receivables, Net (Tables)
Accounts Receivables, Net - Schedule Of Accounts Receivable, Net (Details)
Accrued Liabilities
Accrued Liabilities (Tables)
Accrued Liabilities - Schedule Of Accrued Liabilities (Details)
Acquisitions And Dispositions
Acquisitions And Dispositions - Narrative (Details)
Cash, Cash Equivalents And Short-Term Investments
Cash, Cash Equivalents And Short-Term Investments (Tables)
Cash, Cash Equivalents And Short-Term Investments - Narrative (Details)
Cash, Cash Equivalents And Short-Term Investments - Schedule Of Fair Value Hierarchy For Financial Assets And Liabilities (Details)
Cash, Cash Equivalents And Short-Term Investments - Schedule Of Gross Unrealized Losses And Fair Value Of Investments (Details)
Cash, Cash Equivalents And Short-Term Investments - Summary Of Changes In Fair Value Of All Financial Liabilities (Details)
Cash, Cash Equivalents And Short-Term Investments - Summary Of Securities Classifies As Cash And Cash Equivalents And Short-Term Investments (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Leases (Details)
Commitments And Contingencies - Legal Matters (Details)
Commitments And Contingencies - Schedule Of Future Minimum Lease Payments (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Principal Amounts Of Senior Notes Repayable (Details)
Debt - Summary Of Carrying Value Of Senior Notes (Details)
Debt - Summary Of Interest Expense Of Convertible Notes (Details)
Debt - Summary Of Interest Expense Of Senior Notes (Details)
Debt - Summary Of Liability Component Of Convertible Notes (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of (Benefit) Provision For Income Taxes (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Deferred Tax Liabilities (Details)
Income Taxes - Schedule Of Effective Income Tax Reconciliation (Details)
Income Taxes - Schedule Of Unrecognized Tax Benefits (Details)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Schedule Of Future Amortization Expenses (Details)
Intangible Assets - Schedule Of Gross Carrying Amounts And Net Book Value Intangible Assets (Details)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Details)
License And Collaborative Arrangements
License And Collaborative Arrangements - Narrative (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Schedule Of Anti-Dilutive Shares (Details)
Net Income (Loss) Per Share - Schedule Of Basic And Diluted Earnings Per Share (Details)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Policies)
Organization And Summary Of Significant Accounting Policies (Tables)
Organization And Summary Of Significant Accounting Policies - Advertising Costs (Details)
Organization And Summary Of Significant Accounting Policies - Concentration Of Risk (Details)
Organization And Summary Of Significant Accounting Policies - Investments (Details)
Organization And Summary Of Significant Accounting Policies - Organization (Details)
Organization And Summary Of Significant Accounting Policies - Principles Of Consolidation (Details)
Organization And Summary Of Significant Accounting Policies - Property And Equipment (Details)
Organization And Summary Of Significant Accounting Policies - Recently Adopted And Issued Accounting Pronouncements (Details)
Organization And Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Organization And Summary Of Significant Accounting Policies - Schedule Of Product Shipments And Accounts Receivable, By Distributor (Details)
Organization And Summary Of Significant Accounting Policies - Segment Information (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Narrative (Details)
Property And Equipment - Schedule Of Property And Equipment (Details)
Restructuring Charges
Restructuring Charges (Tables)
Restructuring Charges - Narrative (Details)
Restructuring Charges - Schedule Of Accrued Restructuring And Severance Costs (Details)
Restructuring Charges - Schedule Of Restructuring Activities (Details)
Revenue
Revenue (Tables)
Revenue - Narrative (Details)
Revenue - Schedule Of Disaggregated Revenue From Contracts With Customers (Details)
Revenue - Summary Of Contract Assets And Liabilities (Details)
Schedule Ii: Valuation And Qualifying Accounts (Details)
Selected Quarterly Financial Data (Unaduited) (Tables)
Selected Quarterly Financial Data (Unaduited) - Schedule Of Quarterly Financial Information (Details)
Selected Quarterly Financial Data (Unaudited)
Shareholders' Equity
Shareholders' Equity - Narrative (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Equity Match Program (Details)
Stock-Based Compensation - Restricted Stock Units Narrative And Activity (Details)
Stock-Based Compensation - Schedule Of Fair Value Assumptions (Details)
Stock-Based Compensation - Schedule Of Stock-Based Compensation Expense (Details)
Stock-Based Compensation - Stock Options Narrative And Activity (Details)
Subsequent Events
Subsequent Events - Narrative (Details)
Ticker: ASRT
CIK: 1005201
Form Type: 10-K Annual Report
Accession Number: 0001005201-19-000040
Submitted to the SEC: Mon Mar 11 2019 4:00:47 AM EST
Accepted by the SEC: Mon Mar 11 2019
Period: Monday, December 31, 2018
Industry: Pharmaceutical Preparations

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/asrt/0001005201-19-000040.htm