Assertio Therapeutics (ASRT) Tops Q3 EPS by 16c; Raises FY EPS Guidance

Assertio Therapeutics (NASDAQ: ASRT) reported Q3 EPS of $0.42, $0.16 better than the analyst estimate of $0.26. Revenue for the quarter came in at $77.5 million versus the consensus estimate of $73.7 million.

“Our third-quarter performance positions us well to achieve our neurology franchise net sales and adjusted EBITDA goals for the full year,” said Arthur Higgins, President and CEO of Assertio. “We remain focused on diversifying our commercial portfolio and advancing the development of cosyntropin depot, which we plan to file for FDA approval by year end. In addition, this year we’ve secured $97 million in non-dilutive cash, which improves our leverage position as we continue to focus on debt reduction. Lastly, and significantly, we amended and strengthened our commercial agreement with Collegium.”

GUIDANCE:

• Confirms Full-Year Net Sales Guidance Range for the Neurology Franchise
• Raises Full-Year Earnings Guidance and Confirms Adjusted EBITDA Guidance

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

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