LAKE FOREST, Ill. - Assertio Holdings, Inc. (NASDAQ:ASRT), a commercial pharmaceutical company with a market capitalization of $91.66 million, announced yesterday that its clinical trial for Rolvedon (eflapegrastim-xnst) injection showed promising results for patients with early-stage breast cancer. According to InvestingPro data, the company maintains an impressive 70% gross profit margin despite current market challenges. The trial results were presented at the San Antonio Breast Cancer Symposium, hosted by the American Association of Cancer Research and the University of Texas Health Science Center at San Antonio.
The open-label, single-arm study, which included participants across 13 U.S. sites, involved dosing patients with Rolvedon 30 minutes after their chemotherapy sessions. The drug demonstrated an average of 1.8 days to neutrophil count recovery and a febrile neutropenia rate of 2%. Notably, none of the patients required hospitalization or intervention for febrile neutropenia, and no new safety concerns were identified.
Brendan O'Grady, CEO of Assertio Therapeutics (NASDAQ:ASRT), expressed satisfaction with the trial outcomes, emphasizing the potential of Rolvedon to significantly benefit patients undergoing chemotherapy. Dr. Howard Franklin, SVP of Medical (TASE:PMCN) at Assertio, also highlighted the encouraging safety and efficacy profile of the drug, supporting its same-day dosing regimen. While the company's stock currently trades at $0.95, InvestingPro analysts have set price targets ranging from $2.15 to $4.00, suggesting significant potential upside.
Assertio specializes in offering differentiated products through acquisition or licensing of approved products, with a focus on enhancing patient outcomes and quality of life. The company's commercial capabilities span marketing, market access through payer contracting, and trade and distribution.
The details of the study and its findings are available on the San Antonio Breast Cancer Symposium's website. This press release statement serves as the source of the information presented. For a comprehensive analysis of Assertio's financial health and growth prospects, including additional ProTips and detailed valuation metrics, investors can access the full research report on InvestingPro.
In other recent news, Beam Therapeutics announced the appointment of Sravan K. Emany as Chief Financial Officer. Emany, who brings extensive experience from his tenure at Ironwood Pharmaceuticals (NASDAQ:IRWD), is expected to play a key role in Beam's capital formation and allocation strategy. This development is concurrent with the company's ongoing advancement of its portfolio of genetic medicines, focusing on hematology and genetic diseases.
In parallel, Assertio Holdings reported its third-quarter financial results for 2024, registering revenues of $29.2 million and a net loss of $0.03 per share, which was better than the analyst's expectation of a $0.05 per share loss. The company's gross margins improved to 74% in the third quarter, up from 71% in the second quarter of 2024. H.C. Wainwright maintained a Buy rating on Assertio shares with a steady $4.00 price target.
Assertio's leadership also saw changes with Heather Mason stepping in as the new Chairwoman of the Board. The company plans to expand the market presence of Rolvedon and capitalize on the under-tapped Sympazan market. These are recent developments in the ongoing efforts of Assertio to maintain its competitive position in the market.
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