Assertio Holdings expands board with new director

LAKE FOREST, Ill. - Assertio Holdings, Inc. (NASDAQ:ASRT), a commercial pharmaceutical company, today announced the addition of Sigurd (Sig) Kirk to its board of directors. Kirk, a seasoned executive with over two decades of experience in the pharmaceutical industry, will contribute to the Audit and Compensation committees.

Kirk's extensive background includes a significant tenure at Allergan (NYSE:AGN) plc, where he was the Executive Vice President of Corporate Business Development and played a pivotal role in over 75 deals. His career also spans leadership positions at Barr Pharmaceuticals, now part of Teva Pharmaceuticals, Inc., and an early tenure at Deloitte & Touche as an Audit Manager.

Interim CEO Heather Mason expressed confidence in Kirk's appointment, citing his strategic business development and financial expertise as valuable assets for Assertio's growth ambitions. The company aims to leverage its digital non-personal promotion platform and oncology sales force to enhance commercial asset performance.

Assertio's business model revolves around acquiring or licensing approved products and marketing them through various channels, including a sales force and non-personal promotion. The company also focuses on market access through payer contracting and trade and distribution.

This appointment follows the recent addition of Sravan Emany to the board last fall, reflecting Assertio's commitment to aligning board expertise with its evolving business strategies.

The information in this article is based on a press release statement from Assertio Holdings, Inc.

As Assertio Holdings, Inc. (NASDAQ:ASRT) continues to strengthen its board with strategic appointments, the company's financial health and market performance remain a focal point for investors. With an adjusted market capitalization of $88.3 million, Assertio's size in the pharmaceutical market is modest, yet the company holds a strong cash position relative to its debt, a reassuring sign for stakeholders.

InvestingPro Tips highlight that Assertio's management has been proactive in repurchasing shares, signaling confidence in the company's value proposition. Additionally, despite analysts' expectations of a sales decline in the current year, Assertio is trading at a low revenue valuation multiple, which may present a value opportunity for investors.

On the financial front, the company's revenue for the last twelve months as of Q4 2023 stands at $152.07 million, with a high gross profit margin of 82.23%. However, with a negative price-to-earnings (P/E) ratio of -0.75, the market reflects concerns over profitability, aligning with the InvestingPro Tip that analysts do not anticipate the company will be profitable this year.

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Investors should note the recent price volatility, with a significant 61.59% drop over the last six months, and an overall decline of 84.79% over the past year. This price movement is critical for those considering the timing of their investment decisions.

For those seeking more in-depth analysis and additional InvestingPro Tips, Assertio Holdings has a total of 9 tips available on InvestingPro. To access these insights and enhance your investment strategy, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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