$ASRT reports strong FY2022 revenue growth and portfolio expansion potential
Mar 8th 2023, 9:03 pm
Analyst Summary: Specialty pharmaceutical company Assertio Holdings, Inc. (NASDAQ:ASRT) has reported strong financial results for Q4 and FY 2022, with a full-year revenue increase of 18% YoY to $438.8 million. This growth was attributed to increased sales of Indocin, a full quarter of Otrexup, and the addition of Sympazan. The non-personal commercial platform and related cost savings, combined with the acquisition of Otrexup, also contributed to the positive change in its business. Assertio's CEO, Dan Peisert, commented that the company is "actively engaged in evaluating multiple prospective opportunities to expand and diversify [its] business." The company's balance sheet is well-positioned to support this growth, with a note exchange in February 2023 further positioning it to pursue meaningful business development opportunities. However, Assertio's Adjusted EBITDA guidance for 2023 does not include the effect of the potential acquisition of new portfolio assets. Meanwhile, the company continues to build its commercial portfolio by identifying new opportunities within its existing products as well as acquiring or licensing additional approved products. Though non-GAAP measure adjusted EBITDA rose 59% YoY in Q4, shareholders should note that the Company's Q1 2023 expected revenue will likely see typical seasonality and the loss of Cambia exclusivity.