Assertio Inc. (NASDAQ: (ASRT) stock declined by 2.63% at last close whereas the ASRT stock price gained by 46.85% in the after-hours trading session. Assertio is a renowned commercial pharmaceutical firm that provides patients with unique solutions.
ASRT stock’ Financial Highlights
Assertio announced financial results for the third quarter of 2021. Given below are the highlights:
- The company has generated net product sales of $26.0 million for the third quarter of 2021.
- The Non-GAAP Adjusted EBTIDA for the third quarter for 2021 was $15.8 million, this is the highest since the fourth quarter of 2019.
- The company’s Quarterly Net Cash Flows from Operating Activities for the third quarter of 2021 were $4.7 million. This is the second Consecutive Quarter of Positive Cash Flows from Operating Activities and the highest since the fourth quarter of 2019.
However,
The Company’s top focus was and continues to be the wellbeing and safety of its employees, their families, and the people it serves following the COVID-19 pandemic in early 2020. The amount to which the COVID-19 pandemic will tend to impact its operations will be determined largely by upcoming projects, particularly new information on the severity of the outbreak that may become available. It will also depend on the government’s attempts to contain or treat the outbreak’s effects, the appearance of new COVID-19 variations and the potential for additional outbreaks, and the distribution, public acceptability, and efficacy of COVID-19 vaccinations, including those for emerging variants.
Dan Peisert, President and CEO of Assertio stated,
This quarter marks the completion of many notable accomplishments in Assertio’s transformation, as their restructuring is done and they’ve moved their focus to develop the company. Their findings show that their investments in digital capabilities, as well as the soundness of their business, are gaining traction.
They’ve raised their full-year net product sales and non-GAAP adjusted EBITDA expectations. They constructed their commercial model and built a lean, efficient organization in a short amount of time. Assertio is well placed for the next phase of expansion through company development due to its execution against their main priorities.
