Assertio Therapeutics (ASRT) Misses Q2 EPS by 32c, Revenues Miss

Assertio Therapeutics (NASDAQ: ASRT) reported Q2 EPS of ($0.35), $0.32 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $20.62 million versus the consensus estimate of $25.33 million.

Even in what has been an unprecedented time with patient volume and elective surgeries down due to COVID-19, we completed our merger and achieved second quarter 2020 pro forma net product sales of $27.7 million—slightly ahead of pro forma net product sales for the first quarter of 2020 and better than what we had expected,” said Todd Smith, president and chief executive officer. “During the quarter, we launched our new commercial strategy which included establishing a Neurology-focused sales team, training our sales force on our combined portfolio and improving our distribution. In addition, we established a medical science liaison team to gather medical insights and provide access to current scientific information about our products. Along with commercial execution, we believe we are in a strong financial and operational position to focus on bringing in additional products.”

For earnings history and earnings-related data on Assertio Therapeutics (ASRT) click here.

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