Assertio Holdings, Inc. reported a net loss of $21.6 million for the fiscal year ending December 31, 2024, a significant improvement compared to a net loss of $331.9 million in 2023. The company generated $120.8 million in net product sales, down from $149.5 million in the previous year. The decline in revenue was primarily attributed to a decrease in sales of INDOCIN products, which faced increased competition from generics, resulting in a drop from $87.2 million in 2023 to $26.8 million in 2024. In contrast, ROLVEDON, Assertio's lead product acquired through the Spectrum Merger in July 2023, contributed $60.1 million in sales, reflecting a full year of sales compared to only five months in 2023.
The company’s total revenues for 2024 were $125 million, down from $152.1 million in 2023. The cost of sales increased to $39.2 million from $27 million, driven by a shift in product mix and higher inventory write-downs. Research and development expenses rose to $3.8 million, primarily due to costs associated with the same-day dosing clinical trial for ROLVEDON, which was completed in late 2024. Selling, general, and administrative expenses decreased to $75.1 million, down from $78.6 million, largely due to reduced transaction-related expenses from the Spectrum Merger.
Assertio's operational metrics showed a cash flow from operations of $26.4 million in 2024, down from $49.6 million in 2023. The company ended the year with cash, cash equivalents, and short-term investments exceeding $100 million, which it expects will support ongoing operations and potential product acquisitions. The workforce was streamlined following the Spectrum Merger, with a headcount of 58 employees as of March 2025, reflecting a focus on efficiency and cost management.
Looking ahead, Assertio anticipates continued challenges in the competitive landscape, particularly for INDOCIN products due to ongoing generic competition. The company is focused on enhancing the market presence of ROLVEDON and exploring additional product acquisitions to bolster its portfolio. Assertio's management remains cautious about the impact of pricing pressures and reimbursement challenges from third-party payors, which could affect future revenue growth. The company is actively monitoring its financial position and may seek additional capital if cash needs exceed current expectations.
About Assertio Holdings, Inc.
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