Assertio (ASRT) 10-Q10 Aug 202020 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	Aug. 03, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-39294
Entity Registrant Name	ASSERTIO HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-0598378
Entity Address, Address Line One	100 South Saunders Road
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Lake Forest
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60045
City Area Code	224
Local Phone Number	419-7106
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	ASRT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Smaller Reporting Company	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		107,121,683
Entity Central Index Key	0001808665
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 59,403	$ 42,107
Accounts receivable, net	34,753	42,744
Inventories, net	25,398	3,412
Prepaid and other current assets	15,909	15,688
Total current assets	135,463	103,951
Property and equipment, net	7,349	3,497
Intangible assets, net	179,716	400,535
Goodwill	14,147	0
Investments, net	1,579	13,064
Other long-term assets	7,470	6,123
Total assets	345,724	527,170
Current liabilities:
Accounts payable	28,535	16,193
Accrued rebates, returns and discounts	52,440	58,943
Accrued liabilities	31,564	18,948
Current portion of long-term debt	7,374	80,000
Contingent consideration, current portion	8,700	0
Interest payable	2,754	8,375
Other current liabilities	3,005	2,094
Total current liabilities	134,372	184,553
Long-term debt	91,834	271,258
Contingent consideration	20,859	168
Other long-term liabilities	13,681	13,233
Total liabilities	260,746	469,212
Commitments and contingencies
Shareholders’ equity:
Common stock	11	8
Additional paid-in capital	478,037	457,751
Accumulated deficit	(393,070)	(399,801)
Total shareholders’ equity	84,978	57,958
Total liabilities and shareholders' equity	$ 345,724	$ 527,170

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Total revenues	$ 20,617	$ 57,203	$ 41,534	$ 115,132
Costs and expenses:
Cost of sales (excluding amortization of intangible assets)	5,238	2,124	6,637	4,699
Research and development expenses	1,626	1,263	2,667	3,056
Selling, general and administrative expenses	28,131	24,755	55,445	49,800
Amortization of intangible assets	4,855	25,443	12,650	50,887
Restructuring charges	6,519	0	6,519	0
Total costs and expenses	46,369	53,585	83,918	108,442
(Loss) income from operations	(25,752)	3,618	(42,384)	6,690
Other income (expense):
Loss on extinguishment of convertible notes	(16,272)	0	(47,880)	0
Interest expense	(1,604)	(14,842)	(10,278)	(31,396)
Loss on prepayment of Senior Notes	0	0	(8,233)	0
Other loss	(499)	(1,240)	(3,824)	(1,849)
Total other (expense) income	(18,219)	(16,082)	41,691	(33,245)
Net loss before income taxes	(43,971)	(12,464)	(693)	(26,555)
Income tax benefit (expense)	9,472	(1,141)	7,424	(1,351)
Net (loss) income	(34,499)	(13,605)	6,731	(27,906)
Comprehensive (loss) income	$ (34,499)	$ (13,605)	$ 6,731	$ (27,906)
Basic net (loss) income per share (in dollars per share)	$ (0.35)	$ (0.21)	$ 0.07	$ (0.43)
Diluted net (loss) income per share (in dollars per share)	$ (0.35)	$ (0.21)	$ 0.07	$ (0.43)
Shares used in computing basic net (loss) income per share (in shares)	98,558	64,480	89,835	64,405
Shares used in computing diluted net (loss) income per share (in shares)	98,558	64,480	90,236	64,405
Product sales, net
Revenues:
Total revenues	$ 20,165	$ 25,937	$ 29,417	$ 52,387
Commercialization agreement, net
Revenues:
Total revenues	0	31,003	11,258	61,859
Royalties and milestones
Revenues:
Total revenues	452	263	859	886
Gralise
Revenues:
Total revenues	(116)	17,800	431	31,078
Other income (expense):
Loss (Gain) on sale of assets	(850)	0	126,655	0
NUCYNTA
Other income (expense):
Loss (Gain) on sale of assets	$ 1,006	$ 0	$ (14,749)	$ 0

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Warrants and Options	Convertible debt	Common Stock	Additional Paid-In Capital	Additional Paid-In CapitalWarrants and Options	Additional Paid-In CapitalConvertible debt	Accumulated Earnings (Deficit)	Accumulated Other Comprehensive Loss
Balances (in shares) at Dec. 31, 2018				64,185
Balances at Dec. 31, 2018	$ 220,335			$ 6	$ 402,934			$ (182,600)	$ (5)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of options (in shares)				14
Issuance of common stock upon exercise of options	25				25
Issuance of common stock in conjunction with vesting of restricted stock units (in shares)				132
Stock-based compensation	2,702				2,702
Shares withheld for payment of employee's withholding tax liability	(216)				(216)
Net income (loss)	(14,301)							(14,301)
Balances (in shares) at Mar. 31, 2019				64,331
Balances at Mar. 31, 2019	208,545			$ 6	405,445			(196,901)	(5)
Balances (in shares) at Dec. 31, 2018				64,185
Balances at Dec. 31, 2018	220,335			$ 6	402,934			(182,600)	(5)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(27,906)
Comprehensive loss	(27,906)
Balances (in shares) at Jun. 30, 2019				64,821
Balances at Jun. 30, 2019	197,439			$ 6	407,944			(210,506)	(5)
Balances (in shares) at Mar. 31, 2019				64,331
Balances at Mar. 31, 2019	208,545			$ 6	405,445			(196,901)	(5)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock under employee stock purchase plan (in shares)				64
Issuance of common stock under employee stock purchase plan	158				158
Issuance of common stock in conjunction with vesting of restricted stock units (in shares)				426
Stock-based compensation	2,634				2,634
Shares withheld for payment of employee's withholding tax liability	(293)				(293)
Net income (loss)	(13,605)							(13,605)
Comprehensive loss	(13,605)
Balances (in shares) at Jun. 30, 2019				64,821
Balances at Jun. 30, 2019	197,439			$ 6	407,944			(210,506)	(5)
Balances (in shares) at Dec. 31, 2019				80,888
Balances at Dec. 31, 2019	57,958			$ 8	457,751			(399,801)	0
Increase (Decrease) in Stockholders' Equity
Issuance of common stock in conjunction with vesting of restricted stock units (in shares)				434
Reacquisition of equity component of 2021 Notes and 2024 Notes			$ (16,814)				$ (16,814)
Stock-based compensation	1,934				1,934
Shares withheld for payment of employee's withholding tax liability	(271)				(271)
Net income (loss)	41,230							41,230
Balances (in shares) at Mar. 31, 2020				81,322
Balances at Mar. 31, 2020	84,037			$ 8	442,600			(358,571)	0
Balances (in shares) at Dec. 31, 2019				80,888
Balances at Dec. 31, 2019	57,958			$ 8	457,751			(399,801)	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	6,731
Comprehensive loss	6,731
Balances (in shares) at Jun. 30, 2020				107,092
Balances at Jun. 30, 2020	84,978			$ 11	478,037			(393,070)	0
Balances (in shares) at Mar. 31, 2020				81,322
Balances at Mar. 31, 2020	84,037			$ 8	442,600			(358,571)	0
Increase (Decrease) in Stockholders' Equity
Issuance of common stock under employee stock purchase plan (in shares)				76
Issuance of common stock under employee stock purchase plan	49				49
Issuance of common stock in conjunction with vesting of restricted stock units (in shares)				215
Issuance of common stock in conjunction with vesting of restricted stock units	0				0
Issuance of common stock in conjunction with the Zyla Merger (in shares)				25,479
Issuance common stock, warrants, and stock options in conjunction with the Zyla Merger	22,931	$ 11,626		$ 3	22,928	$ 11,626
Reacquisition of equity component of 2021 Notes and 2024 Notes			$ (2,718)				$ (2,718)
Stock-based compensation	3,593				3,593
Shares withheld for payment of employee's withholding tax liability	(41)				(41)
Net income (loss)	(34,499)							(34,499)
Comprehensive loss	(34,499)							(34,499)
Balances (in shares) at Jun. 30, 2020				107,092
Balances at Jun. 30, 2020	$ 84,978			$ 11	$ 478,037			$ (393,070)	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating Activities
Net (loss) income	$ 6,731	$ (27,906)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss on extinguishment of convertible Notes	47,880	0
Loss on prepayment of Senior Notes	8,233	0
Depreciation and amortization	13,319	51,503
Accretion of debt discount and debt issuance costs	5,511	12,220
Recurring fair value measurement of assets and liabilities	3,629	(85)
Stock-based compensation	5,527	5,336
Provision for inventory and other assets	1,808	196
Other	(9)	3,150
Changes in assets and liabilities:
Accounts receivable	29,414	2,900
Inventories	512	195
Prepaid and other assets	4,810	30,492
Accounts payable and other accrued liabilities	(13,337)	(14,890)
Accrued rebates, returns and discounts	(39,757)	(11,951)
Interest payable	(7,524)	(2,451)
Net cash (used in) provided by operating activities	(45,159)	48,709
Investing Activities
Purchases of property and equipment	(9)	(621)
Cash acquired in Zyla Merger	7,585	0
Proceeds from sale of investments	6,000	0
Purchases of marketable securities	0	(7,864)
Maturities of marketable securities	0	750
Net cash provided by (used in) investing activities	512,802	(7,735)
Financing Activities
Payments on Revolver	(10,000)	0
Proceeds from issuance of common stock	0	183
Shares withheld for payment of employee's withholding tax liability	(841)	(509)
Net cash used in financing activities	(450,347)	(83,575)
Net increase (decrease) in cash and cash equivalents	17,296	(42,601)
Cash and cash equivalents at beginning of year	42,107	110,949
Cash and cash equivalents at end of period	59,403	68,348
Supplemental Disclosure of Cash Flow Information
Net cash paid for income taxes	396	420
Cash paid for interest	11,213	21,571
Capital expenditures incurred but not yet paid	0	287
Senior Notes
Financing Activities
Payments in connection with debt settlement and extinguishment	(171,775)	0
Convertible debt
Financing Activities
Payments in connection with debt settlement and extinguishment	(264,731)	0
Promissory note
Financing Activities
Payments on Promissory Note	(3,000)	0
Gralise
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Gain (loss) on sale	(126,655)	0
Investing Activities
Proceeds from sale	130,261	0
NUCYNTA
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Gain (loss) on sale	14,749	0
Investing Activities
Proceeds from sale	$ 368,965	$ 0

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization On May 20, 2020, Assertio Holdings, Inc. (Assertio or the Company) completed a Merger (the Zyla Merger) with Zyla Life Sciences (Zyla) pursuant to an Agreement and Plan of Merger (Merger Agreement), dated as of March 16, 2020. Prior to the consummation of the Zyla Merger, Assertio Therapeutic, Inc. implemented a holding company reorganization (Assertio Reorganization) pursuant to an Agreement and Plan of Merger, dated as of May 19, 2020, by and among Assertio Therapeutics, Inc., the Company and a wholly-owned subsidiary formed to effectuate the Assertio Reorganization. As a result of the Assertio Reorganization, Assertio Therapeutics, Inc. became a direct, wholly-owned subsidiary of the Company, with the Company assuming Assertio Therapeutics, Inc.’s listing on the Nasdaq Stock Market and being deemed as successor issuer to Assertio Therapeutics, Inc. under applicable securities law. Each issued and outstanding share of common stock, $0.0001 par value per share, of Assertio Therapeutics, Inc. immediately prior to the Assertio Reorganization automatically converted into an equivalent corresponding share of common stock, $0.0001 par value per share, of the Company having the same designations, rights, powers, preferences, qualifications, limitations and restrictions as the converted share of Assertio Therapeutics, Inc. common stock. Unless otherwise noted or required by context, the Company uses “Assertio” to refer to Assertio Reorganization and Assertio Holdings, Inc. following the Assertio Reorganization. Assertio is a commercial pharmaceutical company offering differentiated products to patients. The Company’s commercial portfolio of branded products focuses on three areas: neurology; hospital; and pain and inflammation. The Company has built its commercial portfolio through a combination of increased opportunities with its existing products, as well as through the acquisition or licensing of additional approved products. The Company’s primary marketed products include: SPRIX Nasal Spray ® (ketorolac) A nonsteroidal anti-inflammatory drug (NSAID) indicated in adult patients for the short term (up to five days) management of moderate to moderately severe pain that requires analgesia at the opioid level. CAMBIA ® (diclofenac potassium for oral solution) A prescription medicine used to treat migraine attacks in adults. It does not prevent or lesson the number of migraines one has, and it is not for other types of headaches. It contains diclofenac potassium, an NSAID. INDOCIN ® (indomethacin) Suppositories INDOCIN ® (indomethacin) Oral Suspension A suppository form and oral solution of indomethacin approved for: • Moderate to severe rheumatoid arthritis including acute flares of chronic disease • Moderate to severe ankylosing spondylitis • Moderate to severe osteoarthritis • Acute painful shoulder (bursitis and/or tendinitis) • Acute gouty arthritis ZIPSOR ® (diclofenac potassium) Liquid filled capsules) A prescription NSAID used for relief of mild-to-moderate pain in adults (18 years of age and older) Additional commercially available products include ZORVOLEX® (diclofenac), VIVLODEX® (meloxicam) (collectively the SOLUMATRIX products), and OXAYDO® (oxycodone HCI, USP) tablets for oral use only —CII. On February 13, 2020, the Company completed the sale of its remaining rights, title and interest in and to the NUCYNTA® franchise to Collegium Pharmaceutical, Inc. (Collegium) for $375.0 million, less royalties, in cash at closing. Collegium assumed certain contracts, liabilities and obligations relating to the NUCYNTA products, including those related to manufacturing and supply, post-market commitments and clinical development costs. Collegium also paid for certain inventories relating to the products. On January 10, 2020, the Company completed the sale of Gralise ® (gabapentin) to Golf Acquiror LLC, an affiliate to Alvogen, Inc. (Alvogen), for cash proceeds of $130.3 million. The total value included $75.0 million in cash at closing, with the balance receivable as 75% of Alvogen’s first $70.0 million of Gralise net sales after the closing (consideration receivable). Alvogen also paid for certain inventories relating to Gralise. On June 3, 2020, the Company entered into an agreement with Alvogen to settle the remaining balance of $39.7 million in consideration receivable, whereby the Company reduced the consideration receivable by $0.9 million and Alvogen paid $38.8 million in cash. Basis of Presentation The unaudited condensed consolidated financial statements of Assertio and its subsidiaries and the related footnote information of the Company have been prepared pursuant to the requirements of the Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules and regulations, certain footnotes or other financial information that are normally required by U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. In the opinion of the Company’s management, the accompanying interim unaudited condensed consolidated financial statements include all adjustments necessary for a fair presentation of the information for the periods presented. The results for the three and six months ended June 30, 2020 are not necessarily indicative of results to be expected for the entire year ending December 31, 2020 or future operating periods. The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited financial statements and the related notes thereto for the year ended December 31, 2019 included in Assertio Therapeutics, Inc.’s Annual Report on Form 10-K filed with the SEC on March 10, 2020 (the 2019 Form 10-K). The Consolidated Condensed Balance Sheet as of December 31, 2019 has been derived from the audited financial statements at that date, as filed in the Company’s 2019 Form 10-K. In connection with the preparation of the financial statements for the three and six months ended June 30, 2020, the Company evaluated whether there were conditions and events, considered in the aggregate, which raised substantial doubt as to the entity's ability to continue as a going concern within twelve months after the date of the issuance of these financial statements noting that there did not appear to be evidence of substantial doubt of the entity's ability to continue as a going concern. Principles of Consolidation The condensed consolidated financial statements of Assertio include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are used when accounting for amounts recorded in connection with acquisitions, including initial fair value determinations of assets and liabilities as well as subsequent fair value measurements. Additionally, estimates are used in determining items such as sales discounts and product returns, depreciable and amortizable lives, share-based compensation assumptions and taxes on income. Although management believes these estimates are based upon reasonable assumptions within the bounds of its knowledge of the Company’s business and operations, actual results could differ materially from these estimates. Segment Information The Company manages its business within one reportable segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. To date, substantially all of the Company’s revenues from product sales are related to sales in the United States. Acquisitions The Company accounts for acquired businesses using the acquisition method of accounting under ASC 805, Business Combinations (ASC 805), which requires that assets acquired and liabilities assumed be recorded at date of acquisition at their respective fair values. The fair value of the consideration paid, including contingent consideration, is assigned to the underlying net assets of the acquired business based on their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Significant judgments are used in determining the estimated fair values assigned to the assets acquired and liabilities assumed and in determining estimates of useful lives of long-lived assets. Fair value determinations and useful life estimates are based on, among other factors, estimates of expected future net cash flows, estimates of appropriate discount rates used to present value expected future net cash flows, the assessment of each asset’s life cycle, and the impact of competitive trends on each asset’s life cycle and other factors. These judgments can materially impact the estimates used to allocate acquisition date fair values to assets acquired and liabilities assumed and the resulting timing and amounts charged to, or recognized in current and future operating results. For these and other reasons, actual results may vary significantly from estimated results. Any changes in the fair value of contingent consideration resulting from a change in the underlying inputs is recognized in operating expenses until the contingent consideration arrangement is settled. Changes in the fair value of contingent consideration resulting from the passage of time are recorded within interest expense until the contingent consideration is settled. If the acquired net assets do not constitute a business under the acquisition method of accounting, the transaction is accounted for as an asset acquisition and no goodwill is recognized. In an asset acquisition, the amount allocated to acquired in-process research and development (IPR&D) with no alternative future use is charged to expense at the acquisition date. Revenue Recognition Under ASC 606, Revenue from Contracts with Customers (ASC 606), the Company recognizes revenue when its customer obtains control of the promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation, when (or as) the performance obligation is satisfied. The Company assesses the term of the contract based upon the contractual period in which the Company and Collegium have enforceable rights and obligations. Variable consideration arising from sales or usage-based royalties, promised in exchange for a license of the Company’s Intellectual Property, is recognized at the later of (i) when the subsequent product sales occur or (ii) the performance obligation, to which some or all of the sales-based royalty has been allocated, has been satisfied. The Company recognizes a contract asset relating to its conditional right to consideration for completed performance obligations. Accounts receivable are recorded when the right to consideration becomes unconditional. A contract liability is recorded for payments received in advance of the related performance obligation being satisfied under the contract. Product Sales The Company sells commercial products to wholesale distributors and specialty pharmacies. Product sales revenue is recognized when title has transferred to the customer and the customer has assumed the risks and rewards of ownership, which typically occurs on delivery to the customer. The Company’s performance obligation is to deliver product to the customer, and the performance obligation is completed upon delivery. The transaction price consists of a fixed invoice price and variable product sales allowances, which include rebates, discounts and returns. Product sales revenues are recorded net of applicable sales tax and reserves for these product sales allowances. Receivables related to product sales are typically collected one Product Sales Allowances—The Company considers products sales allowances to be variable consideration and estimates and recognizes product sales allowances as a reduction of product sales in the same period the related revenue is recognized. Product sales allowances are based on actual or estimated amounts owed on the related sales. These estimates take into consideration the terms of the Company’s agreements with customers, historical product returns, rebates or discounts taken, estimated levels of inventory in the distribution channel, the shelf life of the product and specific known market events, such as competitive pricing and new product introductions. The Company uses the most likely method in estimating product sales allowances. If actual future results vary from the Company’s estimates, the Company may need to adjust these estimates, which could have an effect on product sales and earnings in the period of adjustment. The Company’s sales allowances include: Product Returns—The Company allows customers to return product for credit with respect to that product within six months before and up to 12 months after its product expiration date. The Company estimates product returns and associated credit on NUCYNTA, Gralise, CAMBIA, Zipsor, Lazanda and products acquired from Zyla, INDOCIN, ZORVOLEX, VIVLODEX and OXAYDO. Estimates for returns are based on historical return trends by product or by return trends of similar products, taking into consideration the shelf life of the product at the time of shipment, shipment and prescription trends, estimated distribution channel inventory levels and consideration of the introduction of competitive products. The Company did not assume financial responsibility for returns of NUCYNTA previously sold by Janssen Pharma or Lazanda product previously sold by Archimedes Pharma US Inc. Under the Commercialization Agreement with Collegium for NUCYNTA, the divestiture of Lazanda to Slán and the divestiture of Gralise to Alvogen, the Company is only financially responsible for product returns for product that were sold by the Company, which are identified by specific lot numbers. The following are the respective shelf lives from manufacture date for the Company’s products: • SPRIX Nasal Spray 30 months; • CAMBIA 24 months to 48 months; • INDOCIN products 36 months; • ZIPSOR 36 months; • SOLUMATRIX products 36 months; and, • OXAYDO 24 months. Because of the shelf life of the Company’s products and its return policy of issuing credits with respect to product that is returned within six months before and up to 12 months after its product expiration date, there may be a significant period of time between when the product is shipped and when the Company issues credit on a returned product. Accordingly, the Company may have to adjust these estimates, which could have an effect on product sales and earnings in the period of adjustments. Wholesaler and Pharmacy Discounts—The Company offers contractually determined discounts to certain wholesale distributors and specialty pharmacies that purchase directly from it. These discounts are either taken off invoice at the time of shipment or paid to the customer on a quarterly basis one Prompt Pay Discounts—The Company offers cash discounts to its customers (generally 2% of the sales price) as an incentive for prompt payment. Based on the Company’s experience, the Company expects its customers to comply with the payment terms to earn the cash discount. Patient Discount Programs—The Company offers patient discount co-pay assistance programs in which patients receive certain discounts off their prescriptions at participating retail and specialty pharmacies. The discounts are reimbursed by the Company approximately one month after the prescriptions subject to the discount are filled. Medicaid Rebates—The Company participates in Medicaid rebate programs, which provide assistance to certain low income patients based on each individual state’s guidelines regarding eligibility and services. Under the Medicaid rebate programs, the Company pays a rebate to each participating state, generally two Chargebacks—The Company provides discounts to authorized users of the Federal Supply Schedule (FSS) of the General Services Administration under an FSS contract with the Department of Veterans Affairs. These federal entities purchase products from the wholesale distributors at a discounted price, and the wholesale distributors then charge back to the Company the difference between the current retail price and the price the federal entity paid for the product. Managed Care Rebates—The Company offers discounts under contracts with certain managed care providers. The Company generally pays managed care rebates one Medicare Part D Coverage Gap Rebates — The Company participates in the Medicare Part D Coverage Gap Discount Program under which it provides rebates on prescriptions that fall within the “donut hole” coverage gap. The Company generally pays Medicare Part D Coverage Gap rebates two Royalty Revenue For arrangements that include sales-based royalties and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes royalty revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). The Company currently has the right to receive royalties based on sales of CAMBIA in Canada, which are recognized as revenue when the related sales occur as there are no continuing performance obligations by the Company under those agreements. Milestones For arrangements that include milestones, the Company recognizes such revenue using the most likely method. As part of adopting ASC 606, the Company evaluated whether the future milestones should have been included as part of the transaction price in periods before January 1, 2018. The Company concluded that because of development and regulatory risks at the time, it was probable that a significant revenue reversal could have occurred. At the end of each subsequent reporting period, the Company re-evaluates the probability or achievement of each such milestone and any related constraint, and if necessary, adjusts its estimates of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenue in the period of adjustment. Leases The Company adopted ASC 842, Leases (ASC 842), on January 1, 2019 using the modified retrospective approach with cumulative effect. There was no adjustment to the Company's opening balance of accumulated deficit resulting from the adoption of this guidance. In addition, the Company elected the package of practical expedients, which among other things, allowed for the carryforward of the historical lease classification. The Company did not elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. Prior to the adoption of ASC 842, the Company accounted for its operating leases in accordance with ASC 840. Under ASC 840, only capital leases were recognized on the balance sheet and therefore the Company’s operating leases were reflected in the financial statement footnotes. The adoption of ASC 842 did not materially affect the Company’s Condensed Consolidated Statements of Comprehensive Income. The Company assesses contracts for lease arrangements at inception and, if applicable, upon any partial or full lease termination event. Operating right-of-use (ROU) assets and liabilities are recognized at the lease commencement date equal to the present value of future lease payments using the implicit, if readily available, or incremental borrowing rate based on the information readily available at the commencement date. ROU assets include any lease payments as of commencement and initial direct costs but exclude any lease incentives. Lease and non-lease components are generally accounted for separately and the Company recognizes operating lease expense straight-line over the term of the lease. Operating leases are included in other long term assets, other current liabilities, and other long term liabilities in the Condensed Consolidated Balance Sheet. The Company accounts for operating leases with an initial term of 12 months or less on a straight-line basis over the lease term in the Condensed Consolidated Statements of Comprehensive Income. Stock Based Compensation The Company’s stock-based compensation generally includes stock options, restricted stock units (RSUs), performance share units (PSUs), and purchases under the Company’s employee stock purchase plan (ESPP). The Company accounts for forfeitures as they occur for each type of award. Stock-based compensation expense related to restricted stock unit awards (RSUs) is based on the market value of the underlying stock on the date of grant and the related expense is recognized ratably over the requisite service period. The stock-based compensation expense related to PSUs is estimated at grant date based on the fair value of the award. The PSU awards are measured exclusively to the relative total shareholder return (TSR) performance, which is measured against the three-year TSR of a custom index of companies. The actual number of shares awarded is adjusted to between zero and 200% of the target award amount based upon achievement in each of the three expense is recognized ratably over the requisite service period regardless of whether or not the market condition is satisfied. The Monte Carlo valuation model considers a variety of potential future share prices for Assertio and our peer companies in a selected market index. The Company uses the Black-Scholes option valuation model to determine the fair value of stock options and ESPP shares. The determination of the fair value of stock-based payment awards on the date of grant using an option valuation model is affected by our stock price as well as assumptions, which include the expected term of the award, the expected stock price volatility, risk-free interest rate and expected dividends over the expected term of the award. The Company uses historical option exercise data to estimate the expected term of the options. The Company estimates the volatility of our common stock price by using the historical volatility over the expected term of the options. The Company bases the risk-free interest rate on U.S. Treasury zero coupon issues with terms similar to the expected term of the options as of the date of grant. The Company does not anticipate paying any cash dividends in the foreseeable future, and therefore, uses an expected dividend yield of zero in the option valuation model. Stock-based compensation expense related to the ESPP and options is recognized on a straight-line basis over its respective term. Intangible and Long-Lived Assets Intangible assets consist of purchased developed technology and trademarks that are accounted for as definite-lived intangible assets subject to amortization. The Company determines the fair value of acquired intangible assets as of the acquisition date. Discounted cash flow models are typically used in these valuations, which require the use of significant estimates and assumptions, including but not limited to, developing appropriate discount rates and estimating future cash flows from product sales and related expenses. The fair value recorded is amortized on a straight-line basis over the estimated useful life of the asset. The Company estimated the useful life of the assets by considering competition by products prescribed for the same indication, the likelihood and estimated future entry of non-generic and generic competition for the same or similar indication and other related factors. The Company evaluates purchased intangibles for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. The impairment loss is calculated as the excess of the carrying amount over the fair value. Estimating future cash flows and fair value related to an intangible asset involves significant estimates and assumptions. If the Company’s assumptions are not correct, there could be an impairment loss or, in the case of a change in the estimated useful life of the asset, a change in amortization expense. The Company assess the recoverability of our long-lived assets, which include property and equipment and product rights whenever significant events or changes in circumstances indicate impairment may have occurred. If indicators of impairment exist, projected future undiscounted cash flows associated with the asset are compared to the carrying amount to determine whether the asset’s value is recoverable. Any resulting impairment is recorded as a reduction in the carrying value of the related asset and a charge to operating results. Goodwill Under the purchase method of accounting pursuant to ASC 805, Goodwill is calculated as the excess of the purchase price over the fair value of the assets acquired and liabilities assumed. Goodwill, which is not tax-deductible, is recognized within other long-term assets, and is not amortized but subject to an annual review for impairment. Goodwill is tested for impairment at the reporting unit level at least annually or when a triggering event occurs that could indicate a potential impairment by assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that the fair value of net assets are below their carrying amounts. A reporting unit is the same as, or one level below, an operating segment. The Company’s operations are currently comprised of a single reporting unit. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 Financial Instruments-Credit Losses (ASU 2016-13 or Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. The Company adopted this standard on January 1, 2020 and updated its internal controls to include certain forward-looking considerations in the current process of developing and recognizing credit losses for in scope financial assets, which primarily included accounts receivable and a $3.5 million investment in a company engaged in medical research. ASC 326 had an immaterial impact to our allowance for credit losses reported in accounts receivable on our Condensed Consolidated Balance Sheet upon adoption. The investment is structured as a long-term loan receivable with a convertible feature and carried at amortized cost with accruing interest. To calculate the expected credit loss allowance, the Company utilized a probability-of-default method (PDM). This process estimates the probability of the loan being successfully paid back or converted into equity based on the ability of the investee to obtain FDA acceptance of its research. As of June 30, 2020, the Company estimated an expected credit loss of approximately $1.9 million, which was recognized in Other (expense) income in the Company’s Condensed Consolidated Statement of Comprehensive Income in the first quarter of 2020 and is included in Investments, net in the Company’s Condensed Consolidated Balance Sheet. The Company’s expected credit losses can vary from period to period based on several factors, such as progress of the medical research and FDA submission, and overall economic environment and the ability of the investee to fund its operations. The primary factor that contributed to the provision for expected credit losses as of the second quarter of 2020 was an evaluation of probability of default to exist based on the outlook of the macro environment due to the COVID-19 pandemic and its impact to delay the FDA acceptance process combined with the investee’s ability to fund its operations and raise capital if required. In June 2018, the FASB issued ASU 2018-18 Collaborative Arrangements (ASU 2018-18), which clarifies the interaction between ASC 808, Collaborative Arrangements (ASC 808) and ASC 606, Revenue from Contracts with Customers (ASC 606). The update clarifies that certain transactions between participants in a collaborative arrangement should be accounted for under ASC 606 when the counterparty is a customer. In addition, the update precludes an entity from presenting consideration from a transaction in a collaborative arrangement as revenue if the counterparty is not a customer for that transaction. The Company adopted the standard as of January 1, 2020 and have applied modified retrospective transition method to the date of initial application of ASC 606. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Accounting for Cloud Computing Arrangements (Subtopic 350-40), which provides new guidance on the accounting for implementation, set-up, and other upfront costs incurred in a hosted cloud computing arrangement. Under the new guidance, entities will apply the same criteria for capitalizing implementation costs as they would for an internal-use software license arrangement. Effective January 1, 2020, the Company adopted the standard using the prospective approach to eligible costs incurred on or after the date of adoption. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13 Fair Value Measurement Disclosure Framework (ASU 2018-03), which is part of a broader disclosure framework project by the FASB to improve the effectiveness of disclosures by more clearly communicating the information to the user. The Company adopted the standard as of January 1, 2020 and included these disclosures in the condensed consolidated financial statements. The additional elements of this release did not impact the Company's condensed consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (ASU 2019-12): Simplifying the Accounting for Income Taxes

ACQUISITIONS

ACQUISITIONS	6 Months Ended
ACQUISITIONS	Jun. 30, 2020
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Business Combination Zyla Life Sciences On May 20, 2020, Assertio completed the Zyla Merger pursuant to the Agreement and Plan of Merger dated March 16, 2020. Upon consummation of the Zyla Merger, each issued and outstanding share of Zyla common stock converted into 2.5 shares of Assertio Holding’s common stock (the Exchange Ratio), and each outstanding option or warrant to purchase Zyla common stock converted into the right to purchase shares of Assertio’s common stock. The Company anticipates the Zyla Merger will capture operating and product portfolio synergies, accelerate revenue growth and create shareholder value. The following table reflects the acquisition date fair value of the consideration transferred with respect to the Zyla Merger: Total number of Company ordinary shares issued 25,478,539 Assertio share price as of May 20, 2020 $ 0.90 Fair value of common shares issued (in thousands) $ 22,931 Fair value of warrants and stock options issued (in thousands) (1) 11,626 Taxes paid by the Company on behalf of Zyla (in thousands) 529 Total purchase consideration (in thousands) $ 35,086 (1) Represents 4,972,365 of Zyla warrants outstanding as of May 20, 2020 at the Exchange Ratio or 12,430,913 Company warrants. The Company’s warrants were valued using the Company’s share price of $0.90 as of May 20,2020. As these shares are exercisable at any time at an exercise price of $0.0004 per share and Assertio will issue replacement awards for these shares, these shares have been determined to represent consideration transferred. In addition represents merger consideration portion of the fair value of Zyla outstanding stock options as of May 20, 2020 which were converted to Company stock options at the Exchange Ratio. Costs incurred that were directly attributable to facilitating the close of the Zyla Merger approximated $4.2 million and $6.6 million for the three and six months ended June 30, 2020, respectively. These fees were recorded to the Selling, general and administrative expenses in the Condensed Consolidated Statements of Comprehensive Income. Pursuant to ASC 805, one of the companies in the transactions shall be designated as the acquirer for accounting purposes based on the evidence available. For accounting purposes, Assertio was treated as the acquiring entity. The Zyla Merger transaction was accounted for as a business combination under the acquisition method of accounting in accordance with ASC 805. Under this method, the acquisition was recorded by allocating the purchase price consideration to the tangible and intangible assets acquired and liabilities assumed from Zyla, based on the estimated fair values at the acquisition date. The excess of purchase price over the fair value of the acquired net assets was recorded as goodwill. The results of operations of this transaction have been included in the Company’s condensed consolidated financial statements from the date of acquisition. The following table reflects the estimated preliminary fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands): Cash $ 7,585 Accounts receivable 23,133 Inventories 26,742 Property and equipment 4,512 Intangible assets 160,900 Other assets 9,629 Total identifiable assets acquired $ 232,501 Accounts payable 21,574 Accrued rebates, returns and discounts 33,254 Other accrued liabilities 15,434 Contingent consideration (a) 29,400 Debt (b) 111,900 Total liabilities assumed $ 211,562 Net identifiable assets acquired 20,939 Goodwill (c) 14,147 Net assets acquired $ 35,086 The fair value of identified asset and identified liabilities have been measured based on preliminary estimates using assumptions that management believes are reasonable, based on information that is currently available. The initial accounting for this acquisition is considered preliminary, and is subject to adjustments upon receipt of additional information relevant to the acquisition, valuations for certain tangible assets acquired and liabilities assumed, the valuation of intangible assets acquired and related deferred income taxes, if applicable. This valuation is in process and the preliminary values reported are based on initial information that continues to be subject to the completion of the valuation and allocation of the assets acquired. Accordingly, the preliminary purchase price allocation is subject to further adjustment as additional information becomes available and final valuations are completed. The final purchase price allocation may differ from what is currently reflected in the condensed consolidated financial statements. (a) Contingent consideration was recognized and measured at an estimated fair value as of the acquisition date. The contingent consideration liability assumed is the result of Zyla’s previous acquisition of INDOCIN. The liability assumed included contingent consideration related to royalties payable in the form of an earnout provision based on INDOCIN product revenue estimates and a probability assessment with respect to the likelihood of achieving the level of net sales that would trigger the contingent payment. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in fair value measurement accounting. The key assumptions in determining the fair value are the discount rate and the probability assigned to the potential milestones being achieved. At each reporting date, the Company will subsequently re-measure the contingent consideration obligation to estimated fair value. Any changes in the fair value of contingent consideration will be recognized in operating expenses until the contingent consideration arrangement is settled. (b) The fair value of acquired debt is comprised of the following (in thousands): Series A-1 Notes $ 50,000 Series A-2 Notes 45,000 Royalty rights obligation 3,900 Promissory note 3,000 Credit agreement 10,000 $ 111,900 Upon the Zyla Merger, the Company assumed and immediately paid off a $3.0 million promissory note. The promissory note was scheduled to mature on July 31, 2020. Additionally upon the Zyla Merger, the Company assumed and immediately paid off a $10.0 million credit agreement. The credit agreement was recognized by Zyla as a related party transaction as the lenders were also holders of a portion of the Zyla’s 13% Notes that were issued on January 31, 2019. The Credit Agreement was scheduled to mature on March 20, 2022. See Note 9, Debt , for further information regarding assumed Debt. (c) The Company recognized $14.1 million of goodwill which represents the fair value of assets net of the fair value of liabilities assumed in excess of consideration paid. Goodwill arising from the Zyla Merger is not expected to be deductible for tax purposes and is subject to material revision as the purchase price allocation is completed. The goodwill recognized is attributable primarily to expected synergies and the assembled workforce of Zyla. Stock-based Compensation Plan On June 4, 2020, the Company filed a Registration Statement with the SEC to register the Zyla Life Sciences Amended and Restated 2019 Stock-Based Incentive Compensation Plan (the 2019 Zyla Plan). The 2019 Zyla Plan was assumed in connection with the Zyla Merger. Pursuant to the Zyla Merger Agreement, each outstanding Zyla stock option was cancelled and converted into a stock option to purchase the Company’s Common Stock on the same terms and conditions with (1) the number of shares of Company Common Stock subject to each such option equal to (i) the number of shares of the common stock subject to the option multiplied by (ii) the Merger Exchange Ratio, which was 2.5, rounded, if necessary, to the nearest whole share and (2) an exercise price per share (rounded to the nearest whole cent) equal to the original exercise price of the Zyla stock option divided by (B) the Exchange Ratio. This resulted in the issuance of 5.0 million options with an average fair market value of $0.62 per share value, of which $0.4 million was recognized as merger consideration. The term of Zyla options may not exceed 10 years from the date of grant. An option shall be exercisable on or after each vesting date in accordance with the terms set forth in the option agreement. The right to exercise an option generally vests over three years at the rate of at least 33% , by the end of the first year and then ratably in monthly installments over the remaining vesting period of the stock option. Warrant Agreements Upon the Zyla Merger, the Company assumed Zyla’s warrant agreements (the “Warrant Agreements”) with Iroko Pharmaceuticals, Inc. (“Iroko”) certain of Iroko’s affiliates and certain other parties entitled to receive shares of the Company’s common stock as consideration pursuant to Zyla’s prior agreements or in satisfaction of certain claims pursuant to the Zyla’s prior reorganization plan. The warrants are exercisable at any time at an exercise price of $0.0001 per share, subject to certain ownership limitations including, with respect to Iroko and its affiliates, that no such exercise may increase the aggregate ownership of the Company’s outstanding common stock of such parties above 49% of the number of shares of its common stock then outstanding for a period of 18 months. All of the Company’s outstanding warrants have similar terms whereas under no circumstance may the warrants be net-cash settled. As such, all warrants are equity-classified . See Note 14, Net Income (Loss) per Share. Supplemental unaudited proforma information is based upon accounting estimates and judgments that the Company believes are reasonable. This supplemental unaudited pro forma financial information has been prepared for comparative purposes only, and is not necessarily indicative of what actual results would have occurred, or of results that may occur in the future. The following table reflects the pro forma consolidated total revenues and net loss for the periods presented, as if the acquisition of Zyla had occurred on January 1, 2019. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Total revenues $ 28,655 $ 79,345 $ 68,637 $ 154,624 Net loss $ (47,509) $ (33,140) $ (24,519) $ (66,087) The unaudited proforma financial results for the three and six months ended June 30, 2020 and 2019 reflect adjustments directly attributed to the business combination. Additionally, the supplemental unaudited proforma information for the six months ended June 30, 2019 was adjusted and excludes income of $115.2 million related to Zyla’s January 2019 Reorganization. See Note 3, Revenue , for revenue for the period since the acquisition date to June 30, 2020 related to Zyla acquired products. As the Company operates as one operating entity, earnings of Zyla since the acquisition date are impractical to calculate separate from the consolidated company.

REVENUE

REVENUE	6 Months Ended
REVENUE	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregated Revenue The following table reflects summary revenue, net for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Product sales, net: CAMBIA $ 7,780 $ 6,758 $ 14,054 $ 15,566 Zipsor 3,535 1,524 5,866 5,755 INDOCIN products (1) 5,434 — 5,434 — SPRIX Nasal Spray (1) 1,602 — 1,602 — SOLUMATRIX products (1) 836 — 836 — OXAYDO (1) 517 — 517 — Gralise (116) 17,800 431 31,078 NUCYNTA and Lazanda product sales adjustments 577 (145) 677 (12) Total product sales, net 20,165 25,937 29,417 52,387 Commercialization agreement, net — 31,003 11,258 61,859 Royalties and milestone revenue 452 263 859 886 Total revenues $ 20,617 $ 57,203 $ 41,534 $ 115,132 (1) Products acquired in connection with Zyla Merger represent product sales, net for the period of May 20, 2020 through June 30, 2020. Product Sales For the three and six months ended June 30, 2020, product sales primarily consisted of sales from CAMBIA, Zipsor, INDOCIN products, SPRIX Nasal Spray, SOLUMATRIX products, and OXAYDO. The Company began shipping and recognizing product sales for INDOCIN products, SPRIX Nasal Spray, SOLUMATRIX products, and OXAYDO in May 2020 upon the completion of the Zyla Merger. The Company completed the sale of Gralise to Alvogen on January 10, 2020, and therefore ceased recognizing product sales related to Gralise effective on the transaction close date. Product sales related to Gralise during the three and six months ended June 30, 2020 primarily relate to sales reserve estimate adjustments related to sales recognized in prior periods. The Company ceased recognizing product sales related to NUCYNTA in January 2018 and the NUCYNTA Commercialization Agreement in February 2020 (see Commercialization Agreement below). The Company divested and ceased recognizing product sales related to Lazanda in November 2017. Product sales related to NUCYNTA and Lazanda during the three and six months ended June 30, 2020 and 2019 relate to sales reserve estimate adjustments related to sales recognized in prior periods. Commercialization Agreement In December 2017, the Company and Collegium entered into the Commercialization Agreement (Commercialization Agreement), pursuant to which the Company granted Collegium the right to commercialize the NUCYNTA franchise of pain products in the U.S. Pursuant to the Commercialization Agreement, Collegium assumed all commercialization responsibilities for the NUCYNTA franchise effective January 9, 2018, including sales and marketing. In November 2018 the Company entered into an amendment to the Commercialization Agreement (Commercialization Amendment). Prior to the November 2018 amendment, the consideration related to the license and facilitation services was fixed and recognized ratably over the contract term. Following the November 2018 amendment, the royalty payments represented variable consideration that are subject to the sales-based royalty exception for licenses of intellectual property and are recognized at the later of (i) when the subsequent product sales occur or (ii) the performance obligation, to which some or all of the sales-based royalty has been allocated, has been satisfied. In addition, the Company was responsible for royalty payments to a third party related to sales of NUCYNTA. Prior to the November 2018 amendment, Collegium became primarily responsible for these royalties in connection with the Commercialization Agreement; however, a portion of these payments remained the responsibility of the Company. Following the November 2018 amendment, effective January 1, 2019, Collegium became responsible for the third-party royalty payments entirely. As the Company was not actively commercializing NUCYNTA, such royalties were recorded by the Company on a systematic basis in proportion to the underlying net product sales, subject to the sales-based royalty exemption for license of intellectual property, and were included as gross-to-net adjustments in the related revenue line in the Company’s Condensed Consolidated Statements of Comprehensive Income. Such amounts, over the course of the calendar year, had no net impact. Effective February 13, 2020, the Company divested its rights, title and interest in and to its NUCYNTA franchise of products in the U.S. to Collegium. In connection with the sale, the Commercialization Agreement terminated at closing with certain specified provisions of the Commercialization Agreement surviving in accordance with the terms of the purchase agreement. During the first quarter of 2020, the Company recognized net revenue from the Commercialization Agreement of $11.3 million. This included variable royalty revenue of $13.1 million offset by the amortization of the $1.8 million net contract asset in connection with the termination of the Commercialization Agreement as a result of the divestiture of NUCYNTA to Collegium. For the three and six months ended June 30, 2019, the Company recognized $1.0 million and $2.1 million, respectively, of net expense related to the third-party royalties which were paid by Collegium on behalf of Assertio. Collegium paid the full royalty owed to the third-party in 2019 and such amounts, over the course of the calendar year, had no net impact to the Company’s Condensed Consolidated Statement of Comprehensive Income. Contract Assets The following table reflects changes in the Company’s contract assets as of June 30, 2020 (in thousands): Balance as of Balance as of December 31, 2019 Additions Deductions June 30, Contract asset - Collegium, net 1,896 — (1,896) — The Collegium contract asset, net represented the conditional right to consideration for completed performance under the Commercialization Agreement arising from the transfer of inventory to Collegium on the date of closing of the agreement in January 2018 net of the contract liability of $10.0 million resulting from the upfront payment received and the $8.8 million of warrants received in connection with the Commercialization Amendment. In connection with the divestiture of NUCYNTA to Collegium the Company amortized the remaining balance of the contract asset in the first quarter of 2020. Royalties and Milestone Revenue In November 2010, the Company entered into a license agreement with Tribute Pharmaceuticals Canada Ltd. (now known as Nuvo Pharmaceuticals, Inc.) granting them the rights to commercially market CAMBIA in Canada. Nuvo independently contracts with manufacturers to produce a specific CAMBIA formulation in Canada. The Company receives royalties on net sales on a quarterly basis as well as certain one-time contingent milestone payments upon the occurrence of certain events. The Company recognized revenue related to CAMBIA in Canada, $0.5 million and $0.9 million for the three and six months ended June 30, 2020, respectively, and $0.3 million and $0.9 million for the three and six months ended June 30, 2019, respectively.

ACCOUNTS RECEIVABLES, NET

ACCOUNTS RECEIVABLES, NET	6 Months Ended
ACCOUNTS RECEIVABLES, NET	Jun. 30, 2020
Receivables [Abstract]
ACCOUNTS RECEIVABLES, NET	ACCOUNTS RECEIVABLES, NET The following table reflects accounts receivables, net, as of June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2019 Receivables related to product sales, net $ 34,653 $ 38,353 Receivables from Collegium — 4,104 Other 100 287 Total accounts receivable, net $ 34,753 $ 42,744

INVENTORIES, NET

INVENTORIES, NET	6 Months Ended
INVENTORIES, NET	Jun. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET The following table reflects the components of inventory, net as of June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2019 Raw materials $ 1,320 $ 1,065 Work-in-process 6,965 426 Finished goods 17,113 1,921 Total $ 25,398 $ 3,412

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	6 Months Ended
PROPERTY AND EQUIPMENT, NET	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET The following table reflects property and equipment as of June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2019 Furniture and office equipment $ 2,846 $ 2,557 Machinery and equipment 3,655 2,731 Laboratory equipment 221 221 Leasehold improvements 11,320 9,858 18,042 15,367 Less: Accumulated depreciation and amortization (10,693) (11,870) Property and equipment, net $ 7,349 $ 3,497

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
INTANGIBLE ASSETS AND GOODWILL	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL The following table reflects the gross carrying amounts and net book values of intangible assets and goodwill as of June 30, 2020 and December 31, 2019 (dollar amounts in thousands): June 30, 2020 December 31, 2019 Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Impairment Net Book Value Products rights: INDOCIN 5.9 $ 107,500 $ (1,941) $ 105,559 $ — $ — $ — $ — SPRIX 5.9 52,500 (948) 51,552 — — — — CAMBIA 3.5 51,360 (33,595) 17,765 51,360 (31,027) — 20,333 Zipsor 1.7 27,250 (23,213) 4,037 27,250 (22,044) — 5,206 Other (1) Less than 1 year 900 (97) 803 — — — — NUCYNTA — — — — 1,019,978 (455,192) (189,790) 374,996 Total Intangible Assets $ 239,510 $ (59,794) $ 179,716 $ 1,098,588 $ (508,263) $ (189,790) $ 400,535 Goodwill $ 14,147 $ — $ 14,147 $ — $ — $ — $ — (1) Represents product rights for Oxaydo and Solumatrix products. Amortization expense was $4.9 million and $12.7 million for the three and six months ended June 30, 2020, respectively, and $25.4 million and $50.9 million for the three and six months ended June 30, 2019, respectively. In connection with the Zyla Merger, the Company acquired identified intangible assets comprised of definite-lived product rights for INDOCIN, SPRIX Nasal Spray, and other (include product rights for OXAYDO and SOLUMATRIX products) which are amortized on a straight-line basis over their respective estimated useful lives of 5.9 years, 5.9 years and less than one year. The respective fair values were determined to be $107.5 million, $52.5 million, and $0.9 million, as of the Zyla Merger date of May 20, 2020 (see Note 2, Acquisitions ). In addition, the Company recognized $14.1 million of goodwill related to the fair value of the underlying net tangible and identifiable intangible assets net of liabilities resulting from the Zyla Merger. Refer to “Note 2. Acquisitions” for additional details. In February 2020, the Company divested its remaining rights, title and interest in and to the NUCYNTA franchise of products from the Company. The Company derecognized the remaining carrying value of $369.1 million of the NUCYNTA product rights in the first quarter of 2020. The following table reflects future amortization expenses the Company expects for its intangible assets (in thousands): Year Ending December 31, Estimated Amortization Expense 2020 (remainder) $ 17,520 2021 34,492 2022 32,335 2023 31,591 2024 26,667 Thereafter 37,111 Total $ 179,716

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
ACCRUED LIABILITIES	Jun. 30, 2020
Accounts Payable and Accrued Liabilities, Current [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES The following table reflects accrued liabilities as of June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2019 Accrued compensation $ 7,999 $ 6,188 Accrued consent fees 4,500 — Accrued restructuring costs 5,283 3,763 Other accrued liabilities 13,782 8,997 Total accrued liabilities $ 31,564 $ 18,948

DEBT

DEBT	6 Months Ended
DEBT	Jun. 30, 2020
Long-term Debt, Unclassified [Abstract]
DEBT	DEBT The following table reflects the Company’s debt as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Series A-1 Notes (1) $ 50,000 $ — Series A-2 Notes (1) 45,000 — 2.50% Convertible Notes due 2021 335 145,000 5.00% Convertible Notes due 2024 (2) — 120,000 Royalty rights obligation (3) 3,899 — Senior Notes (4) — 162,500 Total principal amount 99,234 427,500 Unamortized debt discounts (24) (70,699) Unamortized debt issuance costs (2) (5,543) Carrying value 99,208 351,258 Less: current portion of long-term debt (7,374) (80,000) Net, long-term debt $ 91,834 $ 271,258 (1) In connection with the Zyla Merger on May 20, 2020, the Company assumed the obligations of Zyla under its Existing Indenture, and Assertio and the other subsidiaries of the Company (other than Depo DR) became guarantors of Zyla's 13% Senior Secured Notes due 2024. (2) In connection with 2024 Notes tendered and accepted for purchase in the Offers have been retired and canceled as of June 30, 2020. (3) In connection with the Zyla Merger on May 20, 2020, the Company assumed the obligations of Zyla under its royalty rights agreement with each holder of its Secured Notes. (4) During the first quarter of 2020, the Company repaid in full the outstanding aggregate principal amount of senior secured notes (Senior Notes) 13% Senior Secured Notes due 2024 In accordance with the Zyla Merger, Assertio assumed $95.0 million aggregate principal amount of 13% senior secured notes due 2024 (the Secured Notes) issued pursuant to an indenture (the Existing Indenture) entered into on January 31, 2019, by and among Zyla Life Sciences, the guarantors party thereto (the Guarantors) and Wilmington Savings Fund Society, FSB (as successor to U.S. Bank National Association), as trustee and collateral agent (the Trustee). The Secured Notes were issued in two series: $50.0 million of Series A-1 Notes and $45.0 million of Series A-2 Notes. The Secured Notes are reported within current portion of long-term debt and long-term debt on the Condensed Consolidated Balance Sheets. The fair value of assumed debt has been measured based on preliminary estimates using assumptions that management believes are reasonable, and based on information that is currently available. As of May 20, 2020, the Existing Indenture was modified by a Supplemental Indenture (the Supplem ental Indenture and the Existing Indenture, as so modified, the Indenture), pursuant to which Assertio (the Issuer) assumed the obligations as issuer of the Secured Notes and the subsidiaries of Assertio became guarantors of the Secured Notes. The Supplemental Indenture, among other things, provides for certain amendments to the restrictive covenants in the Indenture. Interest on the Secured Notes accrues at a rate of 13% per annum and is payable semi-annually in arrears on May 1 and November 1 of each year (each, a Payment Date). The Existing Indenture also requires amortization payments of outstanding principal on the Secured Notes equal to 10% per annum, payable semi-annually on each Payment Date The Secured Notes are senior secured obligations of the Issuer and are secured by a lien on substantially all assets of the Issuer and the guarantors. The stated maturity date of the Secured Notes is January 31, 2024. Upon the occurrence of a Change of Control, subject to certain conditions (as defined in the Existing Indenture), holders of the Secured Notes may require the Issuer to repurchase for cash all or part of their Secured Notes at a repurchase price equal to 100% of the principal amount of the Secured Notes to be repurchased, plus accrued and unpaid interest to the date of repurchase. The Issuer may redeem the Secured Notes at its option, in whole or in part from time to time, at a redemption price equal to 100% of the principal amount of the Secured Notes being redeemed, plus accrued and unpaid interest, if any, through the redemption date. No sinking fund is provided for the Secured Notes. Pursuant to the Supplemental Indenture, Assertio and its restricted subsidiaries must also comply with certain covenants, including limitations on the issuance of debt; the issuance of preferred and/or disqualified stock; the payment of dividends and other restricted payments; the prepayment, redemption or repurchase of subordinated debt; mergers, amalgamations or consolidations; engaging in certain transactions with affiliates; and the making of investments. In addition, the Issuer must maintain a minimum level of consolidated liquidity, based on unrestricted cash on hand and availability under any revolving credit facility, equal to the greater of (1) the quotient of the outstanding principal amount of the Secured Notes divided by 9.5 and (2) $7.5 million. On July 31, 2020, the Company voluntarily redeemed $10.0 million of aggregate principal plus accrued interest on its Secured Notes due 2024. Royalty Rights Obligation In accordance with the Zyla Merger, the Company assumed a royalty rights agreements (the Royalty Rights) with each of the holders of its Secured Notes pursuant to which the Company will pay the holders of the Secured Notes an aggregate 1.5% royalty on Net Sales (as defined in the Existing Indenture) through December 31, 2022. The Royalty Rights were determined to be a freestanding element with respect to the Secured Notes and the Company is accounting for the Royalty Rights obligation relating to future royalties as a debt instrument. The Company has Royalty Rights obligations of $3.9 million as of June 30, 2020, with $1.4 million cla ssified as current and $2.5 million classified as non-current debt in the Company’s Condensed Consolidated Balance Sheets. The accounting for the Royalty Rights requires the Company to make certain estimates and assumptions about the future net sales. The estimates of the magnitude and timing of net sales are subject to significant variability due to the extended time period associated with the financing transaction, and are thus subject to significant uncertainty. Senior Notes On April 2, 2015, the Company issued $575.0 million aggregate principal amount of senior secured notes (the Senior Notes) for aggregate gross proceeds of approximately $562.0 million pursuant to a Note Purchase Agreement dated March 12, 2015 (Note Purchase Agreement), among the Company and Deerfield Private Design Fund III, L.P., Deerfield Partners, L.P., Deerfield International Master Fund, L.P., Deerfield Special Situations Fund, L.P., Deerfield Private Design Fund II, L.P., Deerfield Private Design International II, L.P., BioPharma Secured Investments III Holdings Cayman LP, Inteligo Bank Ltd. and Phemus Corporation (collectively, the Purchasers) and Deerfield Private Design Fund III, L.P., as collateral agent. The Company used $550.0 million of the net proceeds received upon the sale of the Senior Notes to fund a portion of the Purchase Price paid to Janssen Pharma in connection with the NUCYNTA acquisition. The Senior Notes had a maturity date of April 14, 2021 (unless earlier prepaid or repurchased), were secured by substantially all of the assets of the Company and any subsidiary guarantors, and bore interest at the rate equal to the lesser of (i) 9.75% over the three month London Inter-Bank Offer Rate (LIBOR), subject to a floor of 1.0% and (ii) 11.95% (through the third anniversary of the purchase date) and 12.95% (thereafter). The interest rate was determined at the first business day of each fiscal quarter, commencing with the first such date following April 2, 2015. The interest rate for the three months ended June 30, 2020 and 2019 was 11.65% and 12.54%, respectively. As of February 2020, the Company had repaid in full all outstanding indebtedness, and terminated all commitments and obligations, under its Note Purchase Agreement. The Company used proceeds from the sale of Gralise and NUCYNTA to repay the outstanding principal of $162.5 million. In addition, the Company paid approximately $4.9 million and $4.4 million in prepayment premiums and accrued exit fees, respectively, plus accrued but unpaid interest. In connection with the termination of the Note Purchase Agreement, the Company was released from all security interests, liens and encumbrances under the Note Purchase Agreement. Convertible Notes 2.50% Convertible Senior Notes Due 2021 On September 9, 2014, the Company issued $345.0 million aggregate principal amount of 2.50% Convertible Senior Notes Due 2021 (the 2021 Notes) which mature on September 1, 2021 and bear interest at the rate of 2.50% per annum, payable semi-annually in arrears on March 1 and September 1 of each year, beginning March 1, 2015. On August 13, 2019, the Company exchanged (the Convertible Note Exchange) $200.0 million aggregate principal amount of the 2021 Notes for a combination of (a) its new $120.0 million aggregate principal amount of 5.00% Convertible Senior Notes due August 15, 2024 (the 2024 Notes), (b) an aggregate cash payment of $30.0 million, and (c) an aggregate of 15.8 million shares of the Company’s common stock. The Company did not receive any cash proceeds from the issuance of the 2024 Notes or the issuance of the shares of its common stock. Upon completion of the Convertible Note Exchange, the aggregate principal amount of the 2021 Notes was reduced by $200.0 million to $145.0 million, the unamortized debt discount and debt issuance costs was reduced by $26.1 million to $18.9 million and the carrying amount of the equity component was reduced by $6.2 million to $112.8 million. On February 19, 2020, the Company entered into separate, privately negotiated purchase agreements (Purchase Agreements) with a limited number of holders of the Company’s currently outstanding 2021 Notes and 2024 Notes. The Company used proceeds from the sale of Gralise and NUCYNTA to repurchase $102.5 million aggregate principal amount of 2021 Notes for a cash payment plus accrued but unpaid interest. The repurchase of the 2021 Notes was accounted for in accordance with ASC 470-50, Debt Modifications and Extinguishments (ASC 470-50). During the first quarter 2020, the Company recognized a $10.3 million loss on debt extinguishment, which represented the difference between the carrying value and the fair value of the 2021 Notes just prior to the repurchase plus transaction costs. The Company also recognized reacquisition of $0.3 million in additional paid-in capital related to the equity component of the 2021 Notes based on the excess of the fair value of total considerations provided against the fair value of the 2021 Notes just prior to the repurchase. On April 8, 2020, the Company completed its public tender offers to purchase the 2021 Notes for cash in an amount equal to $995.00 per $1,000 principal amount (exclusive of accrued and unpaid interest) from each registered holder of the 2021 Notes. As a result of the tender offer, a total of $42.1 million in aggregate principal amount of the 2021 Notes were properly tendered and purchased by the Company. The tender offer of the 2021 Notes was accounted for in accordance with ASC 470-50. During the three months ended June 30, 2020, the Company recognized a $3.9 million loss on debt extinguishment, which represented the difference between the carrying value and the fair value of the 2021 Notes just prior to the tender offer plus transaction costs. As a result of the February 2020 repurchase and the April 2020 tender offer transactions, the aggregate principal amount of the 2021 Notes was reduced to $0.3 million and the unamortized debt discount and debt issuance costs eliminated as of June 30, 2020. Based on the Company’s intention to settle in cash the total remaining outstanding aggregate principal of 2021 Notes, the liability component of the 2021 Notes is classified as part of current portion of long-term debt on the Company’s Condensed Consolidated Balance Sheet as of June 30, 2020. The closing price of the Company’s common stock did not exceed 130% of the $19.24 conversion price, for the required period during the three or six months ended June 30, 2020. As a result, the remaining 2021 Notes were not convertible as of June 30, 2020. 5.00% Convertible Senior Notes Due 2024 On August 13, 2019, as part of the Convertible Note Exchange, the Company issued $120.0 million aggregate principal of 2024 Notes which mature on August 14, 2024 and bear interest at a rate of 5.0%, payable semiannually in arrears on February 15 and August 15 of each year, beginning on February 15, 2020. On February 19, 2020, the Company entered into separate, privately negotiated purchase agreements (Purchase Agreements) with a limited number of holders of the Company’s currently outstanding 2021 Notes and 2024 Notes. The Company used proceeds from the sale of Gralise and NUCYNTA to repurchase $85.5 million aggregate principal amount of 2024 Notes for a cash payment plus accrued but unpaid interest. The repurchase of the 2024 Notes was accounted for in accordance with ASC 470-50. During the first quarter 2020, the Company recognized a $21.3 million loss on debt extinguishment, which represented the difference between the carrying value and the fair value of the 2024 Notes just prior to the repurchase plus transaction costs. The Company also recognized reacquisition of $16.8 million in additional paid-in capital related to the equity component of the 2024 Notes based on the excess of the fair value of total considerations provided against the fair value of the 2024 Notes just prior to the repurchase. On April 8, 2020, the Company completed its public tender offers to purchase the 2024 Notes for cash in an amount equal to $995.00 per $1,000 principal amount (exclusive of accrued and unpaid interest) from each registered holder of the 2024 Notes. As a result of the tender offer, a total of $34.5 million in aggregate principal amount of the 2024 Notes were properly tendered and purchased by the Company. The tender offer of the 2024 Notes was accounted for in accordance with ASC 470-50. During the three months ended June 30, 2020, the Company recognized a $12.4 million loss on debt extinguishment, which represented the difference between the carrying value and the fair value of the 2024 Notes just prior to the tender offer plus transaction costs. The Company also recognized reacquisition of $2.7 million in additional paid-in capital related to the equity component of the 2024 Notes based on the excess of the fair value of total considerations provided against the fair value of the 2021 Notes just prior to the repurchase. As a result of the February 2020 repurchase and the April 2020 tender offer transactions, the 2024 were settled and retired in full with no principal amount and the unamortized debt discount and debt issuance costs recognized as of June 30, 2020. Interest Expense Debt discount and debt issuance costs are amortized as interest expense using the effective interest method. The following table reflects interest expense, net included in the Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Stated coupon interest $ 1,476 $ 8,758 $ 4,778 $ 19,120 Amortization of debt discount and debt issuance costs 125 6,056 5,511 12,220 Total interest expense $ 1,601 $ 14,814 $ 10,289 $ 31,340

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
STOCK-BASED COMPENSATION	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company’s stock-based compensation generally includes stock options, restricted stock units (RSUs), performance share units (PSUs), and purchases under the Company’s employee stock purchase plan (ESPP). The following table reflects stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Cost of sales $ 18 $ 50 $ 41 $ 50 Research and development expense 80 76 243 349 Selling, general and administrative expense 2,496 2,508 4,244 4,937 Restructuring charges 999 — 999 — Total $ 3,593 $ 2,634 $ 5,527 $ 5,336 The recognized tax benefit on total stock-based compensation expense during the three and six months ended June 30, 2020 and 2019 was $0.3 million and $0.8 million. During the six months ended June 30, 2020 the Company granted 7.2 million RSUs at an average fair market value of $0.83 per share and 5.7 million options at an average fair market value of $0.50 per share, which includes 5.0 million in options granted as part of the Zyla Merger.

LEASES

LEASES	6 Months Ended
LEASES	Jun. 30, 2020
Leases [Abstract]
LEASES	LEASES The Company has non-cancelable operating leases for its offices and laboratory facility, automobiles used by its sales force, and certain operating leases for office equipment. The Company relocated its corporate headquarters from Newark, California to Lake Forest in 2018 and subsequently entered into two subleases which, together, account for the entirety of the Newark facility. Each sublease contained abated rent periods resulting in reduced operating lease cash flows through May 2019. Operating lease costs and sublease income related to the Newark facility are accounted for in Other loss in the Condensed Consolidated Statements of Comprehensive Income. The Company has the right to renew the term of the Lake Forest lease for one period of five years, provided that written notice is made to the Landlord no later than twelve months prior to the expiration of the initial term of the Lease. In connection with the Zyla Merger, the Company assumed an operating lease for offices in Wayne, Pennsylvania and operating leases for automobiles used by its sales force. The following table reflects lease expense for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, 2020 Six Months Ended June 30, Financial Statement Classification 2020 2019 2020 2019 Operating lease cost Selling, general and administrative expenses $ 216 $ 178 $ 373 $ 365 Operating lease cost Other loss 147 147 295 295 Total lease cost $ 363 $ 325 $ 668 $ 660 Sublease Income Other loss $ 346 $ 361 $ 693 $ 723
LEASES	LEASES The Company has non-cancelable operating leases for its offices and laboratory facility, automobiles used by its sales force, and certain operating leases for office equipment. The Company relocated its corporate headquarters from Newark, California to Lake Forest in 2018 and subsequently entered into two subleases which, together, account for the entirety of the Newark facility. Each sublease contained abated rent periods resulting in reduced operating lease cash flows through May 2019. Operating lease costs and sublease income related to the Newark facility are accounted for in Other loss in the Condensed Consolidated Statements of Comprehensive Income. The Company has the right to renew the term of the Lake Forest lease for one period of five years, provided that written notice is made to the Landlord no later than twelve months prior to the expiration of the initial term of the Lease. In connection with the Zyla Merger, the Company assumed an operating lease for offices in Wayne, Pennsylvania and operating leases for automobiles used by its sales force. The following table reflects lease expense for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, 2020 Six Months Ended June 30, Financial Statement Classification 2020 2019 2020 2019 Operating lease cost Selling, general and administrative expenses $ 216 $ 178 $ 373 $ 365 Operating lease cost Other loss 147 147 295 295 Total lease cost $ 363 $ 325 $ 668 $ 660 Sublease Income Other loss $ 346 $ 361 $ 693 $ 723

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Cosette Pharmaceuticals Supply Agreement Pursuant to the Zyla Merger, the Company assumed a Collaborative License, Exclusive Manufacture and Global Supply Agreement with Cosette Pharmaceuticals, Inc. (formerly G&W Laboratories, Inc.) (the “Supply Agreement”) for the manufacture and supply of INDOCIN Suppositories to Zyla for commercial distribution in the United States. The Company is obligated to purchase all of its requirements for INDOCIN Suppositories from Cosette Pharmaceuticals, Inc., and are required to meet minimum purchase requirements for the calendar year 2020. The term of the Supply Agreement extends through July 31, 2023, and there are no minimum requirements in any of the other subsequent years. Total commitments to Cosette Pharmaceuticals, Inc are $6.5 million in 2020. Catalent Pharma Solutions Commercial Supply Agreement Pursuant to the Zyla Merger, the Company assumed a Commercial Supply Agreement (“CSA”) with Catalent Pharma Solutions (“Catalent”) for the manufacture of certain specified products. Based on the CSA, the Company is obligated to purchase certain minimum amounts of manufacturing and product maintenance services on an annual basis for the term of the contract (“Minimum Requirement”) through September 2021. Total commitments to Catalent are $1.0 million through the period ending September 2021. Jubilant HollisterStier Manufacturing and Supply Agreement Pursuant to the Zyla Merger, the Company assumed a Manufacturing and Supply Agreement (the “Agreement”) with Jubilant HollisterStier LLC (“JHS”) pursuant to which the Company engaged JHS to provide certain services related to the manufacture and supply of SPRIX® (ketorolac tromethamine) Nasal Spray for the Company’s commercial use. Under the Agreement, JHS will be responsible for supplying a minimum of 75% of the Company’s annual requirements of SPRIX through July 30, 2022. The Company has agreed to purchase a minimum number of batches of SPRIX per calendar year from JHS over the term of the Agreement. Total commitments to JHS are $2.9 million through the period ending July 30, 2022. Pursuant to the Zyla Merger, the Company assumed the following rights and obligations. Purchase Agreement with Iroko Pharmaceuticals, Inc. On October 30, 2018, Zyla entered into a Purchase Agreement with Iroko pursuant to which, upon the terms and subject to the conditions set forth therein, Zyla acquired certain assets and rights of Iroko, referred to in the Purchase Agreement as the “Transferred Assets,” and assumed certain liabilities of Iroko, referred to in the Purchase Agreement as the “Assumed Liabilities,” including assets related to Iroko’s marketed products, the SOLUMATRIX products under the iCeutica License Agreement and the INDOCIN products. The Iroko Products Acquisition was completed by Zyla on January 31, 2019. iCeutica License Agreement Pursuant to the Purchase Agreement, on the Effective Date, Zyla assumed the rights and obligations of Iroko and its subsidiaries pursuant to the Amended and Restated Nano-Reformulated Compound License Agreement, dated October 30, 2018 (the “iCeutica License”), with iCeutica Inc. and iCeutica Pty Ltd. (collectively, “iCeutica”) to license certain technology and intellectual property related to iCeutica’s SOLUMATRIX® technology, meloxicam and certain other rights of iCeutica. Pursuant to the iCeutica License, iCeutica granted to Zyla (as the assignee of Iroko) a sole and exclusive, world-wide right and license under certain iCeutica intellectual property to make, use, sell, offer and import certain products made from the compounds indomethacin, diclofenac, naproxen and meloxicam. In consideration of the grant of the iCeutica License, Zyla is obligated to pay to iCeutica a mid-single digit royalty on all Net Sales of any licensed products, including pro rata portions of any combination products that include a licensed product. The iCeutica License will terminate on a country-by-country basis upon the expiration of the last-to-expire of any licensed patent rights in such country, and otherwise twenty years after the date of the first commercial introduction of a licensed product in such country. Either party may terminate the license in its entirety if the other party materially breaches the License Agreement, subject to applicable cure periods. The iCeutica License also contains customary provisions for an agreement of this type related to intellectual property matters, confidentiality, representations and warranties and indemnification. On January 27, 2020, Zyla entered into a Second Amended and Restated Nano-Reformulated Compound License Agreement with iCuetica (the “Amended iCeutica License”). Under the Amended iCeutica License, effective on January 1, 2020, Zyla would pay a fixed annual license fee, which is subject to reduction if Zyla terminates its rights to one or more of the licensed products, in lieu of an obligation to reimburse iCeutica for ex-U.S. patents costs. Legal Matters Glumetza Antitrust Litigation Antitrust class actions and related direct antitrust actions have been filed in the Northern District of California against the Company and several other defendants relating to the drug Glumetza ® . The named class representatives in the currently pending actions include Meijer, Inc., Bi-Lo, LLC, Winn-Dixie Logistics, Inc., City of Providence, and KPH Healthcare Services, Inc. These class representatives seek to represent a putative class of direct purchasers of Glumetza. In addition, several retailers, including CVS Pharmacy, Inc., Rite Aid Corporation, Walgreen Co., the Kroger Co., the Albertsons Companies, Inc., H-E-B, L.P., and Hy-Vee, Inc., have filed substantially similar direct antitrust claims based on alleged assignments of claims from direct purchaser wholesalers. On December 23, 2019, the Company filed a motion to dismiss all claims in the actions. That motion was heard by the District Court on February 20, 2020. On March 5, 2020 the District Court issued an order denying the motion to dismiss. However, based on the order on the motion, claims previously filed by a putative class of end payor plaintiffs were voluntarily dismissed. On July 30, 2020, Humana Inc. also filed a complaint against the Company in the Northern District of California alleging similar claims related to Glumetza®. These antitrust cases arise out of a Settlement and License Agreement (the Settlement) that the Company, Santarus, Inc. (Santarus) and Lupin Limited (Lupin) entered into in February 2012 that resolved patent infringement litigation filed by the Company against Lupin regarding Lupin’s Abbreviated New Drug Application for generic 500 mg and 1000 mg tablets of Glumetza. The antitrust plaintiffs allege, among other things, that the Settlement violated the antitrust laws because it allegedly included a “reverse payment” that caused Lupin to delay its entry in the market with a generic version of Glumetza. The alleged “reverse payment” is an alleged commitment on the part of the settling parties not to launch an authorized generic version of Glumetza for a certain period. The antitrust plaintiffs allege that the Company and its co-defendants, which include Lupin as well as Bausch Health (the alleged successor in interest to Santarus) are liable for damages under the antitrust laws for overcharges that the antitrust plaintiffs allege they paid when they purchased the branded version of Glumetza® due to delayed generic entry. Plaintiffs seek treble damages for alleged past harm, attorneys’ fees and costs. Fact discovery has closed, and the parties are currently conducting expert discovery. A hearing on the direct purchasers’ class certification was held on August 6, 2020. The Company intends to defend itself vigorously in these matters. Securities Class Action Lawsuit and Related Matters On August 23, 2017, the Company, two individuals who formerly served as its chief executive officer and president, and its former chief financial officer were named as defendants in a purported federal securities law class action filed in the U.S. District Court for the Northern District of California (the District Court). The action ( Huang v. Depomed et al. , No. 4:17- cv-4830-JST, N.D. Cal.) alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 relating to certain prior disclosures of the Company about its business, compliance, and operational policies and practices concerning the sales and marketing of its opioid products and contends that the conduct supporting the alleged violations affected the value of Company common stock and is seeking damages and other relief. In an amended complaint filed on February 6, 2018, the lead plaintiff (referred to in its pleadings as the Depomed Investor Group), which seeks to represent a class consisting of all purchasers of Company common stock between July 29, 2015 and August 7, 2017, asserted the same claims arising out of the same and similar disclosures against the Company and the same individuals as were involved in the original complaint. The Company and the individuals filed a motion to dismiss the amended complaint on April 9, 2018. On March 18, 2019, the District Court granted the motion to dismiss without prejudice, and the plaintiffs filed a second amended complaint on May 2, 2019. The second amended complaint asserted the same claims arising out of the same and similar disclosures against the Company and the same individuals as were involved in the original complaint. The Company and the individuals filed a motion to dismiss the second amended complaint on June 17, 2019. The lead plaintiff filed an opposition to the motion on August 1, 2019. The Company and the individuals filed a reply in support of their motion to dismiss on August 30, 2019. The District Court held oral argument on December 18, 2019. On March 11, 2020, the District Court granted the motion to dismiss the second amended complaint. On April 9, 2020, the plaintiffs filed a notice of appeal with the United States Court of Appeals for the Ninth Circuit. The Company believes that the action is without merit and intends to contest it vigorously. In addition, five shareholder derivative actions were filed on behalf of the Company against its officers and directors for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets, and violations of the federal securities laws. The claims arise out of the same factual allegations as the class action. The first derivative action was filed in the Superior Court of California, Alameda County on September 29, 2017 ( Singh v. Higgins et al ., RG17877280). The second and third actions were filed in the Northern District of California on November 10, 2017 ( Solak v. Higgins et al ., No. 3:17-cv-6546-JST) and November 15, 2017 ( Ross v. Fogarty et al ., No. 3:17-cv-6592- JST). The fourth action was filed in the District of Delaware on December 21, 2018 ( Lutz v. Higgins et al , No. 18-2044-CFC). The fifth derivative action was filed in the Superior Court of California, Alameda County on January 28, 2019 ( Youse v. Higgins et al , No. HG19004409). On December 7, 2017, the plaintiffs in Solak v. Higgins, et al. voluntarily dismissed the first federal derivative action. The Ross , Singh , and Lutz actions were stayed on January 18, 2018, January 23, 2018, and January 11, 2019, respectively, pending the resolution of the motion to dismiss in the securities class action. On May 28, 2019, during a brief lift of the stay in the Singh and Youse actions while the parties’ motion to consolidate was pending, after having been ordered to respond to the Singh and Youse complaints, the Company did so by filing demurrers. On July 12, 2019, the Singh and Youse actions were consolidated, and the consolidated matter was stayed pending the resolution of the motion to dismiss in the federal class action. The plaintiffs have indicated that they intend to file an amended consolidated complaint. The Company believes that these actions are without merit and intends to contest them vigorously. Opioid-Related Request and Subpoenas As a result of the greater public awareness of the public health issue of opioid abuse, there has been increased scrutiny of, and investigation into, the commercial practices of opioid manufacturers generally by federal, state, and local regulatory and governmental agencies. In March 2017, the Company received a letter from then-Sen. Claire McCaskill (D-MO), the then-Ranking Member on the U.S. Senate Committee on Homeland Security and Governmental Affairs, requesting certain information from the Company regarding its historical commercialization of opioid products. The Company voluntarily furnished information responsive to Sen. McCaskill’s request. Since 2017, the Company has received and responded to subpoenas from the U.S. Department of Justice (DOJ) seeking documents and information regarding its historical sales and marketing of opioid products. The Company has also received and responded to subpoenas or civil investigative demands focused on its historical promotion and sales of Lazanda, NUCYNTA, and NUCYNTA ER from various state attorneys general seeking documents and information regarding the Company’s historical sales and marketing of opioid products. In addition, the Company received and responded to a subpoena from the State of California Department of Insurance (CDI) seeking information relating to its historical sales and marketing of Lazanda. The CDI subpoena also seeks information on Gralise, a non-opioid product formerly in the Company’s portfolio. In addition, the Company received and responded to a subpoena from the New York Department of Financial Services seeking information relating to its historical sales and marketing of opioid products. The Company also from time to time receives and complies with subpoenas from governmental authorities related to investigations primarily focused on third parties, including healthcare practitioners. The Company is cooperating with the foregoing governmental investigations and inquiries. Multidistrict Opioid Litigation A number of pharmaceutical manufacturers, distributors and other industry participants have been named in numerous lawsuits around the country brought by various groups of plaintiffs, including city and county governments, hospitals and others. In general, the lawsuits assert claims arising from defendants’ manufacturing, distributing, marketing and promoting of FDA-approved opioid drugs. The specific legal theories asserted vary from case to case, but most of the lawsuits include federal and state statutory claims as well as claims arising under state common law. Plaintiffs seek various forms of damages, injunctive and other relief and attorneys’ fees and costs. For such cases filed in or removed to federal court, the Judicial Panel on Multi-District Litigation issued an order in December 2017, establishing a Multi-District Litigation court (MDL Court) in the Northern District of Ohio (In re National Prescription Opiate Litigation, Case No. 1:17-MD-2804). Since that time, more than 2,000 such cases that were originally filed in U.S. District Courts, or removed to federal court from state court, have been transferred to the MDL Court. The Company is currently involved in a subset of the lawsuits that have been transferred to the MDL Court. The Company is also involved in other federal lawsuits that have not yet been transferred to the MDL Court pending a determination of whether those lawsuits should proceed in state or other originating court. Plaintiffs may file additional lawsuits in which the Company may be named. Plaintiffs in the pending federal cases involving the Company include individuals, county and municipal governmental entities, employee benefit plans, hospitals, health clinics and health insurance providers who assert federal and state statutory claims and state common law claims, such as conspiracy, nuisance, fraud, negligence, gross negligence, deceptive trade practices, and products liability claims (defective design/failure to warn). In these cases, plaintiffs seek a variety of forms of relief, including actual damages to compensate for alleged personal injuries and for alleged past and future costs such as to provide care and services to persons with opioid-related addiction or related conditions, injunctive relief, including to prohibit alleged deceptive marketing practices and abate an alleged nuisance, establishment of a compensation fund, disgorgement of profits, punitive and statutory treble damages, and attorneys’ fees and costs. These lawsuits are in the earliest stages of proceedings, and the Company intends to defend itself vigorously in these matters. State Opioid Litigation Related to the cases in the MDL Court noted above, there have been hundreds of similar lawsuits filed in state courts around the country, in which various groups of plaintiffs assert opioid-drug related claims against similar groups of defendants. The Company is currently named in a subset of those cases, including cases in Alabama, Arkansas, Florida, Missouri, Pennsylvania, Texas and Utah. Plaintiffs may file additional lawsuits in which the Company may be named. In the pending cases involving the Company, plaintiffs are asserting state common law and statutory claims against the defendants similar in nature to the claims asserted in the MDL cases. Plaintiffs are seeking past and future damages, disgorgement of profits, injunctive relief, punitive and statutory treble damages, and attorneys’ fees and costs. These lawsuits are likewise in their earliest stages, and the Company intends to defend itself vigorously in these matters. Insurance Litigation On January 15, 2019, the Company was named as a defendant in a declaratory judgment action filed by Navigators Specialty Insurance Company (Navigators) in the U.S. District Court for the Northern District of California (Case No. 3:19-cv-255). Navigators is the Company’s primary product liability insurer. Navigators is seeking declaratory judgment that opioid litigation claims noticed by the Company (as further described above under “Multidistrict Opioid Litigation” and “State Opioid Litigation”) are not covered by the Company’s life sciences liability policies with Navigators. The Company filed a counterclaim on February 28, 2019. Navigators filed an answer on April 11, 2019. This litigation is ongoing. The Company filed a summary judgment briefing relating to Navigators’ duty to defend the opioid litigation on July 31, 2020, and expects to receive a ruling in 2021. General The Company cannot reasonably predict the outcome of the legal proceedings described above, nor can the Company estimate the amount of loss, range of loss or other adverse consequence, if any, that may result from these proceedings or the amount of any gain in the event the Company prevails in litigation involving a claim for damages. As such the Company is not currently able to estimate the impact of the above litigation on its financial position or results of operations. The Company may from time to time become party to actions, claims, suits, investigations or proceedings arising from the ordinary course of its business, including actions with respect to intellectual property claims, breach of contract claims, labor and employment claims and other matters. The Company may also become party to further litigation in federal and state courts relating to opioid drugs. Although actions, claims, suits, investigations and proceedings are inherently uncertain and their results cannot be predicted with certainty, other than the matters set forth above, the Company is not currently involved in any

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	6 Months Ended
RESTRUCTURING CHARGES	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES The Company continually evaluates its operations to identify opportunities to streamline operations and optimize operating efficiencies as an anticipation to changes in the business environment. In November 2019, the Company announced an acceleration of cost-saving initiatives that included a decision to discontinue its relationship with its contract sales organization, a reduction in the use of certain outside vendors and consultants, and the reorganization of certain functions resulting in a reduction of staff at its headquarters office and remote positions during the fourth quarter of 2019. As a result, $3.9 million of severance and benefits costs for the reduction of staff were recognized during the year ended December 31, 2019. The 2019 cost-saving initiative was substantially complete as of December 31, 2019. In April 2020, the Company executed a limited reduction to its sales force due to the impact of COVID-19 on its ability to see in-person providers who prescribe our products. As a result, $0.6 million of severance and benefits costs was recognized during the three months ended June 30, 2020. This initiative was completed during the second quarter of 2020. Subsequent to the Zyla Merger in May 2020, the Company began implementing reorganization plans of its workforce and other restructuring activities to realize the synergies of the Zyla Merger and to re-align resources to strategic areas and drive growth. The reorganization plan primarily focused on reduction of staff at the Company’s headquarters offices. As a result, $4.8 million of severance and benefits costs, $1.0 million of stock-based compensation expense associated with equity modifications for certain executives and $0.1 million of other exit costs were recognized as restructuring cost during the three months ended June 30, 2020. The following table reflects total expenses related to restructuring activities recognized within the Condensed Consolidated Statement of Comprehensive Income as restructuring costs (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2020 Employee compensation costs $ 5,435 $ 5,435 Equity compensation costs 999 999 Other exit costs 85 85 Total restructuring costs $ 6,519 $ 6,519 The following table reflects cash activity relating to the Company’s accrued restructure as of June 30, 2020 (in thousands): Employee compensation costs Other exit costs Total Balance at December 31, 2019 $ 3,763 $ — $ 3,763 Cash paid (2,431) — (2,431) Balance at March 31, 2020 $ 1,332 $ — $ 1,332 Net accrual additions 5,435 85 5,520 Cash paid (1,484) (85) (1,569) Balance at June 30, 2020 $ 5,283 $ — $ 5,283

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	6 Months Ended
NET INCOME (LOSS) PER SHARE	Jun. 30, 2020
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME (LOSS) PER SHAREBasic net (loss) income per share is calculated by dividing the net (loss) income by the weighted-average number of shares of common stock outstanding during the period. Diluted net (loss) income per share is calculated by dividing the net income by the weighted-average number of shares of common stock outstanding during the period, plus potentially dilutive common shares, consisting of stock options and convertible debt. The 12,430,913 shares of common stock issuable upon the exercise of warrants are included in the number of outstanding shares used for the computation of basic and diluted loss per share (see Note 2, Acquisitions ). The Company uses the treasury-stock method to compute diluted earnings per share with respect to its stock options and equivalents. The Company uses the if-converted method to compute diluted earnings per share with respect to its convertible debt. For purposes of this calculation, options to purchase stock are considered to be potential common shares and are only included in the calculation of diluted net (loss) income per share when their effect is dilutive. The following table reflects the calculation of basic and diluted earnings per common share for the three and six months ended June 30, 2020 and 2019 (in thousands, except for per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Basic net income (loss) per share Net (loss) income $ (34,499) $ (13,605) $ 6,731 $ (27,906) Weighted average common shares and warrants outstanding 98,558 64,480 89,835 64,405 Basic net (loss) income per share $ (0.35) $ (0.21) $ 0.07 $ (0.43) Diluted net income (loss) per share Net (loss) income $ (34,499) $ (13,605) $ 6,731 $ (27,906) Weighted average common shares and warrants outstanding 98,558 64,480 89,835 64,405 Add: effect of dilutive stock options, awards, and equivalents — — 401 — Denominator for diluted income (loss) per share 98,558 64,480 90,236 64,405 Diluted net loss per share $ (0.35) $ (0.21) $ 0.07 $ (0.43) The following table reflects outstanding potentially dilutive common shares that are not included in the computation of diluted net income (loss) per share, because to do so would be anti-dilutive, for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 2.5% Convertible Notes debt 2021 234 17,931 2,685 17,931 5.0% Convertible Notes debt 2024 1,105 — 13,738 — Stock options, awards and equivalents 10,500 7,027 7,826 6,568 Total potentially dilutive common shares 11,839 24,958 24,249 24,499

FAIR VALUE

FAIR VALUE	6 Months Ended
FAIR VALUE	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table reflects the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 Financial Statement Classification Level 1 Level 2 Level 3 Total Assets: Money market funds Cash and cash equivalents $ 77 $ — $ — $ 77 Total $ 77 $ — $ — $ 77 Liabilities: Short-term contingent consideration Contingent consideration, current portion $ — $ — $ 8,700 $ 8,700 Long-term contingent consideration Contingent consideration — — 20,859 20,859 Total $ — $ — $ 29,559 $ 29,559 December 31, 2019 Financial Statement Classification Level 1 Level 2 Level 3 Total Assets: Collegium warrants Investments $ — $ 9,629 $ — $ 9,629 Total $ — $ 9,629 $ — $ 9,629 Liabilities: Contingent consideration Contingent consideration liability $ — $ — $ 168 $ 168 Total $ — $ — $ 168 $ 168 Cash equivalents primarily consisted of money market funds with overnight liquidity and no stated maturities. The Company classified cash equivalents as Level 1, due to their short-term maturity, and measured the fair value based on quoted prices in active markets for identical assets. Pursuant to the Zyla Merger, the Company assumed a contingent consideration obligation which is measured at fair value. The contingent consideration fair value represents the estimated fair value of the royalty payments (Royalty Consideration) owed by the Company to Iroko. The Company has obligations to make contingent payment consideration for future royalties to Iroko based upon annual INDOCIN product net sales over $20.0 million. The Company recorded the fair value of these contingent liabilities, based on the likelihood of contingent earn-out payments. The earn-out payments are subsequently remeasured to fair value each reporting date. The Company classified the acquisition-related contingent consideration liabilities to be settled in cash as Level 3, due to the lack of relevant observable inputs and market activity. Changes in assumptions described above could have an impact on the payout of contingent consideration. As of June 30, 2020, the balance of assumed contingent consideration from the Zyla Merger was $8.7 million and $20.7 million and classified as short-term and long-term Contingent consideration, respectively, in the Condensed Consolidated Balance Sheet. The fair value of the contingent consideration was determined on the date of acquisition, May 20, 2020, using an option pricing model under the income approach based on estimated INDOCIN product revenues over 10 years, and discounted to present value at a rate of 11.0%. The fair value of the contingent consideration is remeasured each reporting period, with changes in the fair value resulting from a change in the underlying inputs are recognized in operating expenses until the contingent consideration arrangement is settled. Changes in the fair value of contingent consideration resulting from the passage of time are recorded within interest expense until the contingent consideration is settled. The fair value of the warrants to purchase Collegium’s common stock was calculated using the Black-Scholes option pricing model. As of the first quarter of 2020, the significant inputs included the fair value of Collegium’s common stock of $16.33, an expected term of 2.61 years and a risk-free rate of 0.27%. The expected term was based on the remaining contractual period of 2.61 years, and the volatility was determined using Collegium’s historical common stock volatility over the expected term. In May 2020, the Company sold the Collegium warrants for an aggregate purchase price of $6.0 million to Armistice Capital Mater Fund, Ltd. As a result, the Company derecognized the remaining carrying value of $6.5 million of the financial asset and recognized a net loss of approximately $0.5 million as of June 30, 2020. When determining the estimated fair value of the Company’s debt, the Company uses a commonly accepted valuation methodology and market-based risk measurements that are indirectly observable, such as credit risk. There were no transfers between Level 1, Level 2 or Level 3 of the fair value hierarchy during the three and six months ended June 30, 2020 and 2019.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES As of June 30, 2020, the Company’s net deferred tax assets are fully offset by a valuation allowance. The valuation allowance is determined in accordance with the provisions of ASC 740, Income Taxes , which require an assessment of both negative and positive evidence when measuring the need for a valuation allowance. Based on the weight of available evidence, the Company recorded a full valuation allowance against the Company’s net deferred assets beginning in the fourth quarter of 2016, and continues to provide a full valuation allowance against the its net deferred assets in subsequent quarters. The Company reassesses the need for a valuation allowance on a quarterly basis. If it is determined that a portion or all of the valuation allowance is not required, it will generally be a benefit to the income tax provision in the period such determination is made. On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, a massive tax-and-spending package intended to provide additional economic relief to address the impact of the COVID-19 pandemic. The CARES Act, among other business tax provisions, included legislative changes and updates to IRC sections 172, 163(j), and 168, resulting in impacting net operating losses, interest disallowance, and depreciation for qualified improvement property. The Company’s intention to carryback 2020 taxable loss to 2018 and 2019 resulted in the release of valuation allowance which was recorded to beginning deferred tax asset balance. For the six months ended June 30, 2020, the Company recorded an income taxes benefit of approximately $7.4 million. The difference between the income tax benefit of $7.4 million and the tax at the statutory rate of 21.0% to date on current year operations is principally due to the partial release of valuation allowance recorded against the beginning of year deferred tax asset related to the net operating loss (NOL) carryback to the 2018 and 2019 tax years now permitted by the CARES Act. For the six months ended June 30, 2019, the Company recorded an expense from income taxes of approximately $1.4 million that represents an effective tax rate of (5.2)%. The difference between the recorded provision for income taxes and the income tax benefit based on the statutory federal tax rate of 21.0% was primarily attributable to the impact of the valuation allowance. The Company files income tax returns in the United States federal jurisdiction and in various states, and the tax returns filed for the years 1997 through 2017 and the applicable statutes of limitation have not expired with respect to those returns. Because of net operating losses and unutilized R&D credits, substantially all of the Company’s tax years remain open to examination. The Company exhausted all the federal research and development credit in the 2018 tax return. Although the NOL carryback from CARES Act will result in making R&D credit utilized in 2018 available for future use, the percentage of unrecognized tax benefit against the R&D credit remains reserved, and the rest will be offset by valuation allowance. Interest and penalties, if any, related to unrecognized tax benefits, would be recognized as income tax expense by the Company. At June 30, 2020 the Company did not have any accrued interest and penalties associated with unrecognized tax benefits.

DISPOSITIONS

DISPOSITIONS	6 Months Ended
DISPOSITIONS	Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITIONS	DISPOSITIONS Sale of Gralise On December 12, 2019, the Company entered into an Asset Purchase Agreement with Golf Acquiror LLC, an affiliate of Alvogen, Inc. (Alvogen) to divest its rights, title and interest in and to Gralise, including certain related assets, to Alvogen. The transaction subsequently closed on January 10, 2020. At closing, the Company received $78.6 million, including a $75.0 million base purchase price and a preliminary positive inventory adjustment equal to $3.6 million. In addition, the Company is entitled to receive 75% of Alvogen’s first $70.0 million of Gralise net sales after closing, a total of $52.5 million, as contingent consideration. Alvogen has also assumed, pursuant to the terms of the Asset Purchase Agreement, certain contracts, liabilities and obligations of the Company relating to Gralise, including those related to manufacturing and supply, post-market commitments and clinical development costs. On June 3, 2020 Alvogen agreed to and disbursed the contingent consideration due to satisfy its remaining obligations to the Company pursuant to the Asset Purchase Agreement. As consideration for the early disbursement, the Company agreed to reduce the total payments due from Alvogen by $0.9 million, which was recognized as an adjustment to the gain on the sale of Gralise of the Condensed Consolidated Statement of Comprehensive Income during the three months ended June 30, 2020. During the six month ended June 30, 2020, the Company collected a total of $51.6 million from Alvogen which settle the $52.5 million in contingent consideration receivable for the sale of Gralise. Pursuant to ASC 205-20, Presentation of Financial Statements— Discontinued Operations, Gralise did not meet the criteria of a discontinued operation as it was not considered a component of an entity that comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the Company, nor did it represent a strategic shift of the Company. The Company accounted for the divestiture under ASC 610-20 Other Income - Derecognition of Nonfinancial Assets . During the first quarter of 2020, the Company recognized a gain of $127.5 million in Other income on the Company’s Condensed Consolidated Statements of Comprehensive Income composed of the $78.6 million in upfront consideration received and $52.5 million in contingent consideration deemed to be probable, net of $3.6 million in inventory transferred. In addition, the Company recognized co-promotion service income of approximately $1.3 million and Co-promotion services were completed as of the first quarter of 2020. Termination of Slán Agreements On November 7, 2017, the Company entered into an agreement with Slán Medicinal Holdings Limited (Slán) under which it (i) acquired from Slán certain rights to market the specialty drug, long-acting cosyntropin in the U.S. and (ii) divested to Slán all of its rights to Lazanda® (fentanyl) Nasal Spray CII. As consideration for this acquisition, the Company provided the seller all of the rights and obligations, as defined under the arrangement, associated with Lazanda and together with $5.0 million in cash to Slán. As outlined in the Slán Agreements, each party would support the development, including clinical development, of the licensed product and efforts to obtain regulatory approval of the initial NDA. Subsequent to approval of the initial NDA, Assertio and Slán would share in the net sales of long-acting cosyntropin for a 10-year period (after which time the product will revert back to Slán). As of December 31, 2019, the Company had $2.0 million of reimbursable development expenses in Prepaid and other current assets on the Company’s Condensed Consolidated Balance Sheet. On February 6, 2020, the Company entered into an amended agreement with Eolas Pharma Teoranta (Eolas), an affiliate of Slán. Pursuant to the amendment the license granted to the Company for the commercialization of long-acting cosyntropin was terminated and the Company received $2.0 million in settlement of the December 31, 2019 receivable for reimbursable development expenses. Additionally, the Company may receive up to $10.0 million in future payments based upon commercial sales of long-acting cosyntropin if Eolas successfully obtains regulatory approval for and commercializes the product. Sale of NUCYNTA On February 6, 2020, the Company entered into a Purchase Agreement with Collegium, to divest its remaining rights, title and interest in and to the NUCYNTA franchise of products from the Company, and assumed certain contracts, liabilities and obligations of the Company relating to the NUCYNTA products, including those related to manufacturing and supply, post-market commitments and clinical development costs. The transaction subsequently closed on February 13, 2020. The Company received $367.9 million in net proceeds, which consisted of $375.0 million in base purchase price, plus $6.0 million in preliminary positive inventory value and less $13.1 million for royalties paid to the Company by Collegium between January 1, 2020 and February 11, 2010 pursuant to the Final Commercialization Agreement Payment Value of the Asset Purchase Agreement. In connection with the sale, the Company entered into a third-party consent agreement which requires two lump sum payments of $4.5 million each payable in 2021 and 2022 subject to Collegium achieving certain net sales in 2020 and 2021, respectively. Since January 9, 2018, Collegium has been responsible for the commercialization of NUCYNTA in the U.S., including sales and marketing, and the Company received royalties based on certain net sales thresholds, in accordance with the Commercialization Agreement. The Commercialization Agreement terminated at closing with certain specified provisions of the Commercialization Agreement surviving in accordance with the terms of the Purchase Agreement. Pursuant to ASC 205-20, the divestiture of NUCYNTA did not meet the criteria of a discontinued operation as it was not considered a strategic shift. The Company accounted for the divestiture under ASC 610-20 Other Income - Derecognition of Nonfinancial Assets

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of PresentationThe unaudited condensed consolidated financial statements of Assertio and its subsidiaries and the related footnote information of the Company have been prepared pursuant to the requirements of the Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules and regulations, certain footnotes or other financial information that are normally required by U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. In the opinion of the Company’s management, the accompanying interim unaudited condensed consolidated financial statements include all adjustments necessary for a fair presentation of the information for the periods presented.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements of Assertio include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are used when accounting for amounts recorded in connection with acquisitions, including initial fair value determinations of assets and liabilities as well as subsequent fair value measurements. Additionally, estimates are used in determining items such as sales discounts and product returns, depreciable and amortizable lives, share-based compensation assumptions and taxes on income. Although management believes these estimates are based upon reasonable assumptions within the bounds of its knowledge of the Company’s business and operations, actual results could differ materially from these estimates.
Acquisitions	Acquisitions The Company accounts for acquired businesses using the acquisition method of accounting under ASC 805, Business Combinations (ASC 805), which requires that assets acquired and liabilities assumed be recorded at date of acquisition at their respective fair values. The fair value of the consideration paid, including contingent consideration, is assigned to the underlying net assets of the acquired business based on their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Significant judgments are used in determining the estimated fair values assigned to the assets acquired and liabilities assumed and in determining estimates of useful lives of long-lived assets. Fair value determinations and useful life estimates are based on, among other factors, estimates of expected future net cash flows, estimates of appropriate discount rates used to present value expected future net cash flows, the assessment of each asset’s life cycle, and the impact of competitive trends on each asset’s life cycle and other factors. These judgments can materially impact the estimates used to allocate acquisition date fair values to assets acquired and liabilities assumed and the resulting timing and amounts charged to, or recognized in current and future operating results. For these and other reasons, actual results may vary significantly from estimated results. Any changes in the fair value of contingent consideration resulting from a change in the underlying inputs is recognized in operating expenses until the contingent consideration arrangement is settled. Changes in the fair value of contingent consideration resulting from the passage of time are recorded within interest expense until the contingent consideration is settled. If the acquired net assets do not constitute a business under the acquisition method of accounting, the transaction is accounted for as an asset acquisition and no goodwill is recognized. In an asset acquisition, the amount allocated to acquired in-process research and development (IPR&D) with no alternative future use is charged to expense at the acquisition date.
Revenue Recognition	Revenue Recognition Under ASC 606, Revenue from Contracts with Customers (ASC 606), the Company recognizes revenue when its customer obtains control of the promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation, when (or as) the performance obligation is satisfied. The Company assesses the term of the contract based upon the contractual period in which the Company and Collegium have enforceable rights and obligations. Variable consideration arising from sales or usage-based royalties, promised in exchange for a license of the Company’s Intellectual Property, is recognized at the later of (i) when the subsequent product sales occur or (ii) the performance obligation, to which some or all of the sales-based royalty has been allocated, has been satisfied. The Company recognizes a contract asset relating to its conditional right to consideration for completed performance obligations. Accounts receivable are recorded when the right to consideration becomes unconditional. A contract liability is recorded for payments received in advance of the related performance obligation being satisfied under the contract. Product Sales The Company sells commercial products to wholesale distributors and specialty pharmacies. Product sales revenue is recognized when title has transferred to the customer and the customer has assumed the risks and rewards of ownership, which typically occurs on delivery to the customer. The Company’s performance obligation is to deliver product to the customer, and the performance obligation is completed upon delivery. The transaction price consists of a fixed invoice price and variable product sales allowances, which include rebates, discounts and returns. Product sales revenues are recorded net of applicable sales tax and reserves for these product sales allowances. Receivables related to product sales are typically collected one Product Sales Allowances—The Company considers products sales allowances to be variable consideration and estimates and recognizes product sales allowances as a reduction of product sales in the same period the related revenue is recognized. Product sales allowances are based on actual or estimated amounts owed on the related sales. These estimates take into consideration the terms of the Company’s agreements with customers, historical product returns, rebates or discounts taken, estimated levels of inventory in the distribution channel, the shelf life of the product and specific known market events, such as competitive pricing and new product introductions. The Company uses the most likely method in estimating product sales allowances. If actual future results vary from the Company’s estimates, the Company may need to adjust these estimates, which could have an effect on product sales and earnings in the period of adjustment. The Company’s sales allowances include: Product Returns—The Company allows customers to return product for credit with respect to that product within six months before and up to 12 months after its product expiration date. The Company estimates product returns and associated credit on NUCYNTA, Gralise, CAMBIA, Zipsor, Lazanda and products acquired from Zyla, INDOCIN, ZORVOLEX, VIVLODEX and OXAYDO. Estimates for returns are based on historical return trends by product or by return trends of similar products, taking into consideration the shelf life of the product at the time of shipment, shipment and prescription trends, estimated distribution channel inventory levels and consideration of the introduction of competitive products. The Company did not assume financial responsibility for returns of NUCYNTA previously sold by Janssen Pharma or Lazanda product previously sold by Archimedes Pharma US Inc. Under the Commercialization Agreement with Collegium for NUCYNTA, the divestiture of Lazanda to Slán and the divestiture of Gralise to Alvogen, the Company is only financially responsible for product returns for product that were sold by the Company, which are identified by specific lot numbers. The following are the respective shelf lives from manufacture date for the Company’s products: • SPRIX Nasal Spray 30 months; • CAMBIA 24 months to 48 months; • INDOCIN products 36 months; • ZIPSOR 36 months; • SOLUMATRIX products 36 months; and, • OXAYDO 24 months. Because of the shelf life of the Company’s products and its return policy of issuing credits with respect to product that is returned within six months before and up to 12 months after its product expiration date, there may be a significant period of time between when the product is shipped and when the Company issues credit on a returned product. Accordingly, the Company may have to adjust these estimates, which could have an effect on product sales and earnings in the period of adjustments. Wholesaler and Pharmacy Discounts—The Company offers contractually determined discounts to certain wholesale distributors and specialty pharmacies that purchase directly from it. These discounts are either taken off invoice at the time of shipment or paid to the customer on a quarterly basis one Prompt Pay Discounts—The Company offers cash discounts to its customers (generally 2% of the sales price) as an incentive for prompt payment. Based on the Company’s experience, the Company expects its customers to comply with the payment terms to earn the cash discount. Patient Discount Programs—The Company offers patient discount co-pay assistance programs in which patients receive certain discounts off their prescriptions at participating retail and specialty pharmacies. The discounts are reimbursed by the Company approximately one month after the prescriptions subject to the discount are filled. Medicaid Rebates—The Company participates in Medicaid rebate programs, which provide assistance to certain low income patients based on each individual state’s guidelines regarding eligibility and services. Under the Medicaid rebate programs, the Company pays a rebate to each participating state, generally two Chargebacks—The Company provides discounts to authorized users of the Federal Supply Schedule (FSS) of the General Services Administration under an FSS contract with the Department of Veterans Affairs. These federal entities purchase products from the wholesale distributors at a discounted price, and the wholesale distributors then charge back to the Company the difference between the current retail price and the price the federal entity paid for the product. Managed Care Rebates—The Company offers discounts under contracts with certain managed care providers. The Company generally pays managed care rebates one Medicare Part D Coverage Gap Rebates — The Company participates in the Medicare Part D Coverage Gap Discount Program under which it provides rebates on prescriptions that fall within the “donut hole” coverage gap. The Company generally pays Medicare Part D Coverage Gap rebates two Royalty Revenue For arrangements that include sales-based royalties and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes royalty revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). The Company currently has the right to receive royalties based on sales of CAMBIA in Canada, which are recognized as revenue when the related sales occur as there are no continuing performance obligations by the Company under those agreements. Milestones
Leases	Leases The Company adopted ASC 842, Leases (ASC 842), on January 1, 2019 using the modified retrospective approach with cumulative effect. There was no adjustment to the Company's opening balance of accumulated deficit resulting from the adoption of this guidance. In addition, the Company elected the package of practical expedients, which among other things, allowed for the carryforward of the historical lease classification. The Company did not elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. Prior to the adoption of ASC 842, the Company accounted for its operating leases in accordance with ASC 840. Under ASC 840, only capital leases were recognized on the balance sheet and therefore the Company’s operating leases were reflected in the financial statement footnotes. The adoption of ASC 842 did not materially affect the Company’s Condensed Consolidated Statements of Comprehensive Income. The Company assesses contracts for lease arrangements at inception and, if applicable, upon any partial or full lease termination event. Operating right-of-use (ROU) assets and liabilities are recognized at the lease commencement date equal to the present value of future lease payments using the implicit, if readily available, or incremental borrowing rate based on the information readily available at the commencement date. ROU assets include any lease payments as of commencement and initial direct costs but exclude any lease incentives. Lease and non-lease components are generally accounted for separately and the Company recognizes operating lease expense straight-line over the term of the lease. Operating leases are included in other long term assets, other current liabilities, and other long term liabilities in the Condensed Consolidated Balance Sheet. The Company accounts for operating leases with an initial term of 12 months or less on a straight-line basis over the lease term in the Condensed Consolidated Statements of Comprehensive Income.
Stock Based Compensation	Stock Based Compensation The Company’s stock-based compensation generally includes stock options, restricted stock units (RSUs), performance share units (PSUs), and purchases under the Company’s employee stock purchase plan (ESPP). The Company accounts for forfeitures as they occur for each type of award. Stock-based compensation expense related to restricted stock unit awards (RSUs) is based on the market value of the underlying stock on the date of grant and the related expense is recognized ratably over the requisite service period. The stock-based compensation expense related to PSUs is estimated at grant date based on the fair value of the award. The PSU awards are measured exclusively to the relative total shareholder return (TSR) performance, which is measured against the three-year TSR of a custom index of companies. The actual number of shares awarded is adjusted to between zero and 200% of the target award amount based upon achievement in each of the three expense is recognized ratably over the requisite service period regardless of whether or not the market condition is satisfied. The Monte Carlo valuation model considers a variety of potential future share prices for Assertio and our peer companies in a selected market index. The Company uses the Black-Scholes option valuation model to determine the fair value of stock options and ESPP shares. The determination of the fair value of stock-based payment awards on the date of grant using an option valuation model is affected by our stock price as well as assumptions, which include the expected term of the award, the expected stock price volatility, risk-free interest rate and expected dividends over the expected term of the award. The Company uses historical option exercise data to estimate the expected term of the options. The Company estimates the volatility of our common stock price by using the historical volatility over the expected term of the options. The Company bases the risk-free interest rate on U.S. Treasury zero coupon issues with terms similar to the expected term of the options as of the date of grant. The Company does not anticipate paying any cash dividends in the foreseeable future, and therefore, uses an expected dividend yield of zero in the option valuation model. Stock-based compensation expense related to the ESPP and options is recognized on a straight-line basis over its respective term.
Intangible Assets	Intangible and Long-Lived AssetsIntangible assets consist of purchased developed technology and trademarks that are accounted for as definite-lived intangible assets subject to amortization. The Company determines the fair value of acquired intangible assets as of the acquisition date. Discounted cash flow models are typically used in these valuations, which require the use of significant estimates and assumptions, including but not limited to, developing appropriate discount rates and estimating future cash flows from product sales and related expenses. The fair value recorded is amortized on a straight-line basis over the estimated useful life of the asset. The Company estimated the useful life of the assets by considering competition by products prescribed for the same indication, the likelihood and estimated future entry of non-generic and generic competition for the same or similar indication and other related factors. The Company evaluates purchased intangibles for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. The impairment loss is calculated as the excess of the carrying amount over the fair value. Estimating future cash flows and fair value related to an intangible asset involves significant estimates and assumptions. If the Company’s assumptions are not correct, there could be an impairment loss or, in the case of a change in the estimated useful life of the asset, a change in amortization expense.
Long-Lived Assets	The Company assess the recoverability of our long-lived assets, which include property and equipment and product rights whenever significant events or changes in circumstances indicate impairment may have occurred. If indicators of impairment exist, projected future undiscounted cash flows associated with the asset are compared to the carrying amount to determine whether the asset’s value is recoverable. Any resulting impairment is recorded as a reduction in the carrying value of the related asset and a charge to operating results.
Goodwill	Goodwill Under the purchase method of accounting pursuant to ASC 805,
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 Financial Instruments-Credit Losses (ASU 2016-13 or Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. The Company adopted this standard on January 1, 2020 and updated its internal controls to include certain forward-looking considerations in the current process of developing and recognizing credit losses for in scope financial assets, which primarily included accounts receivable and a $3.5 million investment in a company engaged in medical research. ASC 326 had an immaterial impact to our allowance for credit losses reported in accounts receivable on our Condensed Consolidated Balance Sheet upon adoption. The investment is structured as a long-term loan receivable with a convertible feature and carried at amortized cost with accruing interest. To calculate the expected credit loss allowance, the Company utilized a probability-of-default method (PDM). This process estimates the probability of the loan being successfully paid back or converted into equity based on the ability of the investee to obtain FDA acceptance of its research. As of June 30, 2020, the Company estimated an expected credit loss of approximately $1.9 million, which was recognized in Other (expense) income in the Company’s Condensed Consolidated Statement of Comprehensive Income in the first quarter of 2020 and is included in Investments, net in the Company’s Condensed Consolidated Balance Sheet. The Company’s expected credit losses can vary from period to period based on several factors, such as progress of the medical research and FDA submission, and overall economic environment and the ability of the investee to fund its operations. The primary factor that contributed to the provision for expected credit losses as of the second quarter of 2020 was an evaluation of probability of default to exist based on the outlook of the macro environment due to the COVID-19 pandemic and its impact to delay the FDA acceptance process combined with the investee’s ability to fund its operations and raise capital if required. In June 2018, the FASB issued ASU 2018-18 Collaborative Arrangements (ASU 2018-18), which clarifies the interaction between ASC 808, Collaborative Arrangements (ASC 808) and ASC 606, Revenue from Contracts with Customers (ASC 606). The update clarifies that certain transactions between participants in a collaborative arrangement should be accounted for under ASC 606 when the counterparty is a customer. In addition, the update precludes an entity from presenting consideration from a transaction in a collaborative arrangement as revenue if the counterparty is not a customer for that transaction. The Company adopted the standard as of January 1, 2020 and have applied modified retrospective transition method to the date of initial application of ASC 606. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Accounting for Cloud Computing Arrangements (Subtopic 350-40), which provides new guidance on the accounting for implementation, set-up, and other upfront costs incurred in a hosted cloud computing arrangement. Under the new guidance, entities will apply the same criteria for capitalizing implementation costs as they would for an internal-use software license arrangement. Effective January 1, 2020, the Company adopted the standard using the prospective approach to eligible costs incurred on or after the date of adoption. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13 Fair Value Measurement Disclosure Framework (ASU 2018-03), which is part of a broader disclosure framework project by the FASB to improve the effectiveness of disclosures by more clearly communicating the information to the user. The Company adopted the standard as of January 1, 2020 and included these disclosures in the condensed consolidated financial statements. The additional elements of this release did not impact the Company's condensed consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (ASU 2019-12): Simplifying the Accounting for Income Taxes
Net Income (Loss) Per Share	The Company uses the treasury-stock method to compute diluted earnings per share with respect to its stock options and equivalents. The Company uses the if-converted method to compute diluted earnings per share with respect to its convertible debt. For purposes of this calculation, options to purchase stock are considered to be potential common shares and are only included in the calculation of diluted net (loss) income per share when their effect is dilutive.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
ACQUISITIONS (Tables)	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Purchase Price and Corresponding Shares Issued	The following table reflects the acquisition date fair value of the consideration transferred with respect to the Zyla Merger: Total number of Company ordinary shares issued 25,478,539 Assertio share price as of May 20, 2020 $ 0.90 Fair value of common shares issued (in thousands) $ 22,931 Fair value of warrants and stock options issued (in thousands) (1) 11,626 Taxes paid by the Company on behalf of Zyla (in thousands) 529 Total purchase consideration (in thousands) $ 35,086
Schedule of Purchase Price Allocation	The following table reflects the estimated preliminary fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands): Cash $ 7,585 Accounts receivable 23,133 Inventories 26,742 Property and equipment 4,512 Intangible assets 160,900 Other assets 9,629 Total identifiable assets acquired $ 232,501 Accounts payable 21,574 Accrued rebates, returns and discounts 33,254 Other accrued liabilities 15,434 Contingent consideration (a) 29,400 Debt (b) 111,900 Total liabilities assumed $ 211,562 Net identifiable assets acquired 20,939 Goodwill (c) 14,147 Net assets acquired $ 35,086 The fair value of identified asset and identified liabilities have been measured based on preliminary estimates using assumptions that management believes are reasonable, based on information that is currently available. The initial accounting for this acquisition is considered preliminary, and is subject to adjustments upon receipt of additional information relevant to the acquisition, valuations for certain tangible assets acquired and liabilities assumed, the valuation of intangible assets acquired and related deferred income taxes, if applicable. This valuation is in process and the preliminary values reported are based on initial information that continues to be subject to the completion of the valuation and allocation of the assets acquired. Accordingly, the preliminary purchase price allocation is subject to further adjustment as additional information becomes available and final valuations are completed. The final purchase price allocation may differ from what is currently reflected in the condensed consolidated financial statements. (a) Contingent consideration was recognized and measured at an estimated fair value as of the acquisition date. The contingent consideration liability assumed is the result of Zyla’s previous acquisition of INDOCIN. The liability assumed included contingent consideration related to royalties payable in the form of an earnout provision based on INDOCIN product revenue estimates and a probability assessment with respect to the likelihood of achieving the level of net sales that would trigger the contingent payment. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in fair value measurement accounting. The key assumptions in determining the fair value are the discount rate and the probability assigned to the potential milestones being achieved. At each reporting date, the Company will subsequently re-measure the contingent consideration obligation to estimated fair value. Any changes in the fair value of contingent consideration will be recognized in operating expenses until the contingent consideration arrangement is settled. (b) The fair value of acquired debt is comprised of the following (in thousands): Series A-1 Notes $ 50,000 Series A-2 Notes 45,000 Royalty rights obligation 3,900 Promissory note 3,000 Credit agreement 10,000 $ 111,900 Upon the Zyla Merger, the Company assumed and immediately paid off a $3.0 million promissory note. The promissory note was scheduled to mature on July 31, 2020. Additionally upon the Zyla Merger, the Company assumed and immediately paid off a $10.0 million credit agreement. The credit agreement was recognized by Zyla as a related party transaction as the lenders were also holders of a portion of the Zyla’s 13% Notes that were issued on January 31, 2019. The Credit Agreement was scheduled to mature on March 20, 2022. See Note 9, Debt , for further information regarding assumed Debt. (c) The Company recognized $14.1 million of goodwill which represents the fair value of assets net of the fair value of liabilities assumed in excess of consideration paid. Goodwill arising from the Zyla Merger is not expected to be deductible for tax purposes and is subject to material revision as the purchase price allocation is completed. The goodwill recognized is attributable primarily to expected synergies and the assembled workforce of Zyla.
Schedule of Pro Forma Financial Information	The following table reflects the pro forma consolidated total revenues and net loss for the periods presented, as if the acquisition of Zyla had occurred on January 1, 2019. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Total revenues $ 28,655 $ 79,345 $ 68,637 $ 154,624 Net loss $ (47,509) $ (33,140) $ (24,519) $ (66,087)

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
REVENUE (Tables)	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Summary of net revenue	The following table reflects summary revenue, net for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Product sales, net: CAMBIA $ 7,780 $ 6,758 $ 14,054 $ 15,566 Zipsor 3,535 1,524 5,866 5,755 INDOCIN products (1) 5,434 — 5,434 — SPRIX Nasal Spray (1) 1,602 — 1,602 — SOLUMATRIX products (1) 836 — 836 — OXAYDO (1) 517 — 517 — Gralise (116) 17,800 431 31,078 NUCYNTA and Lazanda product sales adjustments 577 (145) 677 (12) Total product sales, net 20,165 25,937 29,417 52,387 Commercialization agreement, net — 31,003 11,258 61,859 Royalties and milestone revenue 452 263 859 886 Total revenues $ 20,617 $ 57,203 $ 41,534 $ 115,132
Summary of changes in contract assets	The following table reflects changes in the Company’s contract assets as of June 30, 2020 (in thousands): Balance as of Balance as of December 31, 2019 Additions Deductions June 30, Contract asset - Collegium, net 1,896 — (1,896) —

ACCOUNTS RECEIVABLES, NET (Tabl

ACCOUNTS RECEIVABLES, NET (Tables)	6 Months Ended
ACCOUNTS RECEIVABLES, NET (Tables)	Jun. 30, 2020
Receivables [Abstract]
Schedule of accounts receivables, net	The following table reflects accounts receivables, net, as of June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2019 Receivables related to product sales, net $ 34,653 $ 38,353 Receivables from Collegium — 4,104 Other 100 287 Total accounts receivable, net $ 34,753 $ 42,744

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	6 Months Ended
INVENTORIES, NET (Tables)	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of inventory, net	The following table reflects the components of inventory, net as of June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2019 Raw materials $ 1,320 $ 1,065 Work-in-process 6,965 426 Finished goods 17,113 1,921 Total $ 25,398 $ 3,412

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	6 Months Ended
PROPERTY AND EQUIPMENT, NET (Tables)	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	The following table reflects property and equipment as of June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2019 Furniture and office equipment $ 2,846 $ 2,557 Machinery and equipment 3,655 2,731 Laboratory equipment 221 221 Leasehold improvements 11,320 9,858 18,042 15,367 Less: Accumulated depreciation and amortization (10,693) (11,870) Property and equipment, net $ 7,349 $ 3,497

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
INTANGIBLE ASSETS AND GOODWILL (Tables)	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of gross carrying amounts and net book values of intangible assets and goodwill	The following table reflects the gross carrying amounts and net book values of intangible assets and goodwill as of June 30, 2020 and December 31, 2019 (dollar amounts in thousands): June 30, 2020 December 31, 2019 Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Impairment Net Book Value Products rights: INDOCIN 5.9 $ 107,500 $ (1,941) $ 105,559 $ — $ — $ — $ — SPRIX 5.9 52,500 (948) 51,552 — — — — CAMBIA 3.5 51,360 (33,595) 17,765 51,360 (31,027) — 20,333 Zipsor 1.7 27,250 (23,213) 4,037 27,250 (22,044) — 5,206 Other (1) Less than 1 year 900 (97) 803 — — — — NUCYNTA — — — — 1,019,978 (455,192) (189,790) 374,996 Total Intangible Assets $ 239,510 $ (59,794) $ 179,716 $ 1,098,588 $ (508,263) $ (189,790) $ 400,535 Goodwill $ 14,147 $ — $ 14,147 $ — $ — $ — $ —
Schedule of the future amortization expenses of intangible assets	The following table reflects future amortization expenses the Company expects for its intangible assets (in thousands): Year Ending December 31, Estimated Amortization Expense 2020 (remainder) $ 17,520 2021 34,492 2022 32,335 2023 31,591 2024 26,667 Thereafter 37,111 Total $ 179,716

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
ACCRUED LIABILITIES (Tables)	Jun. 30, 2020
Accounts Payable and Accrued Liabilities, Current [Abstract]
Schedule of accrued liabilities	The following table reflects accrued liabilities as of June 30, 2020 and December 31, 2019 (in thousands): June 30, December 31, 2019 Accrued compensation $ 7,999 $ 6,188 Accrued consent fees 4,500 — Accrued restructuring costs 5,283 3,763 Other accrued liabilities 13,782 8,997 Total accrued liabilities $ 31,564 $ 18,948

DEBT (Tables)

DEBT (Tables)	6 Months Ended
DEBT (Tables)	Jun. 30, 2020
Long-term Debt, Unclassified [Abstract]
Summary of long-term debt	The following table reflects the Company’s debt as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Series A-1 Notes (1) $ 50,000 $ — Series A-2 Notes (1) 45,000 — 2.50% Convertible Notes due 2021 335 145,000 5.00% Convertible Notes due 2024 (2) — 120,000 Royalty rights obligation (3) 3,899 — Senior Notes (4) — 162,500 Total principal amount 99,234 427,500 Unamortized debt discounts (24) (70,699) Unamortized debt issuance costs (2) (5,543) Carrying value 99,208 351,258 Less: current portion of long-term debt (7,374) (80,000) Net, long-term debt $ 91,834 $ 271,258 (1) In connection with the Zyla Merger on May 20, 2020, the Company assumed the obligations of Zyla under its Existing Indenture, and Assertio and the other subsidiaries of the Company (other than Depo DR) became guarantors of Zyla's 13% Senior Secured Notes due 2024. (2) In connection with 2024 Notes tendered and accepted for purchase in the Offers have been retired and canceled as of June 30, 2020. (3) In connection with the Zyla Merger on May 20, 2020, the Company assumed the obligations of Zyla under its royalty rights agreement with each holder of its Secured Notes.
Summary of interest expense for the convertible notes	The following table reflects interest expense, net included in the Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Stated coupon interest $ 1,476 $ 8,758 $ 4,778 $ 19,120 Amortization of debt discount and debt issuance costs 125 6,056 5,511 12,220 Total interest expense $ 1,601 $ 14,814 $ 10,289 $ 31,340

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
STOCK-BASED COMPENSATION (Tables)	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	The following table reflects stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Cost of sales $ 18 $ 50 $ 41 $ 50 Research and development expense 80 76 243 349 Selling, general and administrative expense 2,496 2,508 4,244 4,937 Restructuring charges 999 — 999 — Total $ 3,593 $ 2,634 $ 5,527 $ 5,336

LEASES (Tables)

LEASES (Tables)	6 Months Ended
LEASES (Tables)	Jun. 30, 2020
Leases [Abstract]
Schedule of lease expense	The following table reflects lease expense for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, 2020 Six Months Ended June 30, Financial Statement Classification 2020 2019 2020 2019 Operating lease cost Selling, general and administrative expenses $ 216 $ 178 $ 373 $ 365 Operating lease cost Other loss 147 147 295 295 Total lease cost $ 363 $ 325 $ 668 $ 660 Sublease Income Other loss $ 346 $ 361 $ 693 $ 723

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	6 Months Ended
RESTRUCTURING CHARGES (Tables)	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of restructuring charges	The following table reflects total expenses related to restructuring activities recognized within the Condensed Consolidated Statement of Comprehensive Income as restructuring costs (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2020 Employee compensation costs $ 5,435 $ 5,435 Equity compensation costs 999 999 Other exit costs 85 85 Total restructuring costs $ 6,519 $ 6,519
Schedule of accrued restructuring and severance costs	The following table reflects cash activity relating to the Company’s accrued restructure as of June 30, 2020 (in thousands): Employee compensation costs Other exit costs Total Balance at December 31, 2019 $ 3,763 $ — $ 3,763 Cash paid (2,431) — (2,431) Balance at March 31, 2020 $ 1,332 $ — $ 1,332 Net accrual additions 5,435 85 5,520 Cash paid (1,484) (85) (1,569) Balance at June 30, 2020 $ 5,283 $ — $ 5,283

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	6 Months Ended
NET INCOME (LOSS) PER SHARE (Tables)	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of calculation of basic and diluted earnings per common share	The following table reflects the calculation of basic and diluted earnings per common share for the three and six months ended June 30, 2020 and 2019 (in thousands, except for per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Basic net income (loss) per share Net (loss) income $ (34,499) $ (13,605) $ 6,731 $ (27,906) Weighted average common shares and warrants outstanding 98,558 64,480 89,835 64,405 Basic net (loss) income per share $ (0.35) $ (0.21) $ 0.07 $ (0.43) Diluted net income (loss) per share Net (loss) income $ (34,499) $ (13,605) $ 6,731 $ (27,906) Weighted average common shares and warrants outstanding 98,558 64,480 89,835 64,405 Add: effect of dilutive stock options, awards, and equivalents — — 401 — Denominator for diluted income (loss) per share 98,558 64,480 90,236 64,405 Diluted net loss per share $ (0.35) $ (0.21) $ 0.07 $ (0.43)
Schedule of anti-dilutive securities excluded from computation of diluted net (loss) income per share	The following table reflects outstanding potentially dilutive common shares that are not included in the computation of diluted net income (loss) per share, because to do so would be anti-dilutive, for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 2.5% Convertible Notes debt 2021 234 17,931 2,685 17,931 5.0% Convertible Notes debt 2024 1,105 — 13,738 — Stock options, awards and equivalents 10,500 7,027 7,826 6,568 Total potentially dilutive common shares 11,839 24,958 24,249 24,499

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
FAIR VALUE (Tables)	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis	The following table reflects the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 Financial Statement Classification Level 1 Level 2 Level 3 Total Assets: Money market funds Cash and cash equivalents $ 77 $ — $ — $ 77 Total $ 77 $ — $ — $ 77 Liabilities: Short-term contingent consideration Contingent consideration, current portion $ — $ — $ 8,700 $ 8,700 Long-term contingent consideration Contingent consideration — — 20,859 20,859 Total $ — $ — $ 29,559 $ 29,559 December 31, 2019 Financial Statement Classification Level 1 Level 2 Level 3 Total Assets: Collegium warrants Investments $ — $ 9,629 $ — $ 9,629 Total $ — $ 9,629 $ — $ 9,629 Liabilities: Contingent consideration Contingent consideration liability $ — $ — $ 168 $ 168 Total $ — $ — $ 168 $ 168

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Organization (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 03, 2020	Feb. 13, 2020	Jan. 10, 2020	May 20, 2020	May 19, 2020
NUCYNTA \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Sale of disposal group, proceeds received		$ 375
Gralise \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Sale of disposal group, proceeds received	$ 38.8		$ 75
Sale of disposal group, total value			$ 130.3
Consideration receivable as percentage of net sales after closing			75.00%
Threshold for consideration receivable on net sales after closing			$ 70
Considerable receivable, remaining balance	39.7
Consideration receivable, reduction	$ 0.9
Zyla Life Sciences
Business Acquisition [Line Items]
Par value of common stock (in dollars per share)				$ 0.0001
Assertio Therapeutics \| Zyla Life Sciences
Business Acquisition [Line Items]
Par value of common stock (in dollars per share)					$ 0.0001

ORGANIZATION AND SUMMARY OF S_4

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Segment Information (Details)	6 Months Ended
	Jun. 30, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

ORGANIZATION AND SUMMARY OF S_5

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Product Sales (Details)	6 Months Ended
	Jun. 30, 2020
Product Sales and Royalties
Product return period prior to expiration	6 months
Period after expiration for accepting unsalable product (up to)	12 months
Cash discount	2.00%
Discount reimbursement period after filling of prescription subject to discount	1 month
Minimum
Product Sales and Royalties
Collection period after delivery	1 month
Discount taken off period after the quarter in which product shipped to the customer	1 month
Period after the quarter in which prescription is filled for paying rebate	2 months
Contract with customer, managed care rebate liability, period after quarter in which prescription is filled	1 month
Contract with customer, Medicare Part D coverage gap rebate liability, period after quarter in which prescription is filled	2 months
Maximum
Product Sales and Royalties
Collection period after delivery	2 months
Product return period prior to expiration	6 months
Period after expiration for accepting unsalable product (up to)	12 months
Discount taken off period after the quarter in which product shipped to the customer	2 months
Period after the quarter in which prescription is filled for paying rebate	3 months
Contract with customer, managed care rebate liability, period after quarter in which prescription is filled	3 months
Contract with customer, Medicare Part D coverage gap rebate liability, period after quarter in which prescription is filled	3 months
SPRIX Nasal Spray
Product Sales and Royalties
Product shelf-life	30 months
CAMBIA \| Minimum
Product Sales and Royalties
Product shelf-life	24 months
CAMBIA \| Maximum
Product Sales and Royalties
Product shelf-life	48 months
INDOCIN products
Product Sales and Royalties
Product shelf-life	36 months
Zipsor
Product Sales and Royalties
Product shelf-life	36 months
SOLUMATRIX products
Product Sales and Royalties
Product shelf-life	36 months
OXAYDO
Product Sales and Royalties
Product shelf-life	24 months

ORGANIZATION AND SUMMARY OF S_6

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock-Based Compensation (Details) - 2014 Plan - Performance-based Restricted Stock Units	6 Months Ended
	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting by the end of the first year	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting by the end of the first year	200.00%

ORGANIZATION AND SUMMARY OF S_7

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Adopted and Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jan. 01, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]				us-gaap:AccountingStandardsUpdate201613Member
Investment, long-term loan receivable	$ 3,500
Credit loss on finance receivable				$ 1,900
Convertible debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reacquisition of equity component		$ 2,718	$ 16,814
Convertible Senior Notes, 5.0% \| Convertible debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reacquisition of equity component	$ 19,500	$ 2,700	$ 16,800

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ / shares in Units, $ in Millions	May 20, 2020USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)
Business Acquisition [Line Items]
Number of operating segments \| segment			1
Zyla Life Sciences
Business Acquisition [Line Items]
Number of shares of Assertio common stock for each share of Zyla common stock (in shares) \| shares	2.5
Business transaction costs associated with merger		$ 4.2	$ 6.6
Proforma information adjustment, excluded income from Zyla's January 2019 Reorganization				$ 115.2
Zyla Life Sciences \| Iroko \| Warrant Agreements
Business Acquisition [Line Items]
Warrant, exercise price per share (in dollars per share) \| $ / shares	$ 0.0001
Warrant exercise cap, aggregate ownership percentage	49.00%
Warrant, exercise period	18 months
Zyla Life Sciences \| 2019 Plan
Business Acquisition [Line Items]
Issued (in shares) \| shares	5,000,000
Issued, average fair market value, per share (in dollars per share) \| $ / shares	$ 0.62
Issued, value recognized as merger consideration	$ 0.4
Zyla Life Sciences \| Stock options, awards and equivalents \| 2019 Plan
Business Acquisition [Line Items]
Merger exchange ratio	2.5
Vesting period	3 years
Zyla Life Sciences \| Stock options, awards and equivalents \| 2019 Plan \| Maximum
Business Acquisition [Line Items]
Term of award (may not exceed)	10 years
Zyla Life Sciences \| Stock options, awards and equivalents \| 2019 Plan \| Minimum
Business Acquisition [Line Items]
Awards vesting by the end of the first year	33.00%

ACQUISITIONS - Purchase Price A

ACQUISITIONS - Purchase Price Allocation and Shares Issued (Details) $ / shares in Units, $ in Thousands	May 20, 2020USD ($)$ / sharesshares
Business Acquisition [Line Items]
Share price (in dollars per share) \| $ / shares	$ 0.90
Zyla Life Sciences
Business Acquisition [Line Items]
Total number of Company ordinary shares issued (in shares) \| shares	25,478,539
Assertio share price as of May 20, 2020 (in dollars per share) \| $ / shares	$ 0.90
Taxes paid by the Company on behalf of Zyla (in thousands)	$ 529
Total purchase consideration (in thousands)	35,086
Zyla Life Sciences \| Common Stock
Business Acquisition [Line Items]
Fair value issued (in thousands)	22,931
Zyla Life Sciences \| Warrants and Options
Business Acquisition [Line Items]
Fair value issued (in thousands)	$ 11,626
Zyla Life Sciences \| Warrants
Business Acquisition [Line Items]
Purchase price, number of shares outstanding (in shares) \| shares	12,430,913
Zyla Life Sciences \| Warrants \| Zyla Life Sciences
Business Acquisition [Line Items]
Purchase price, number of shares outstanding (in shares) \| shares	4,972,365
Purchase price, number of shares outstanding, per share (in dollars per share) \| $ / shares	$ 0.0004

ACQUISITIONS - Purchase Price_2

ACQUISITIONS - Purchase Price Allocation (Details) - USD ($) $ in Thousands	May 20, 2020	Jun. 30, 2020	Dec. 31, 2019	Jan. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 14,147	$ 0
13% Senior Secured Notes due 2024 \| Senior Notes
Business Acquisition [Line Items]
Interest rate	13.00%
13% Senior Secured Notes due 2024 \| Senior Notes \| Zyla Life Sciences
Business Acquisition [Line Items]
Interest rate				13.00%
Zyla Life Sciences
Business Acquisition [Line Items]
Cash	$ 7,585
Accounts receivable	23,133
Inventories	26,742
Property and equipment	4,512
Intangible assets	160,900
Other assets	9,629
Total identifiable assets acquired	232,501
Accounts payable	21,574
Accrued rebates, returns and discounts	33,254
Other accrued liabilities	15,434
Contingent consideration	29,400
Debt	111,900
Total liabilities assumed	211,562
Net identifiable assets acquired	20,939
Goodwill	14,147
Net assets acquired	35,086
Zyla Life Sciences \| Promissory note
Business Acquisition [Line Items]
Debt	3,000
Repayment of debt	3,000
Zyla Life Sciences \| Credit agreement
Business Acquisition [Line Items]
Debt	10,000
Repayment of debt	10,000
Zyla Life Sciences \| Series A-1 Notes \| Senior Notes
Business Acquisition [Line Items]
Debt	50,000
Zyla Life Sciences \| Series A-2 Notes \| Senior Notes
Business Acquisition [Line Items]
Debt	45,000
Zyla Life Sciences \| Royalty rights obligation \| Senior Notes
Business Acquisition [Line Items]
Debt	$ 3,900

ACQUISITIONS - Unaudited Pro Fo

ACQUISITIONS - Unaudited Pro Forma Financial Information (Details) - Zyla Life Sciences - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Total revenues	$ 28,655	$ 79,345	$ 68,637	$ 154,624
Net loss	$ (47,509)	$ (33,140)	$ (24,519)	$ (66,087)

REVENUE - Schedule of Disaggreg

REVENUE - Schedule of Disaggregated Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 20,617	$ 57,203	$ 41,534	$ 115,132
Total product sales, net
Disaggregation of Revenue [Line Items]
Total revenues	20,165	25,937	29,417	52,387
CAMBIA
Disaggregation of Revenue [Line Items]
Total revenues	7,780	6,758	14,054	15,566
Zipsor
Disaggregation of Revenue [Line Items]
Total revenues	3,535	1,524	5,866	5,755
INDOCIN products
Disaggregation of Revenue [Line Items]
Total revenues	5,434	0	5,434	0
SPRIX Nasal Spray
Disaggregation of Revenue [Line Items]
Total revenues	1,602	0	1,602	0
SOLUMATRIX products
Disaggregation of Revenue [Line Items]
Total revenues	836	0	836	0
OXAYDO
Disaggregation of Revenue [Line Items]
Total revenues	517	0	517	0
Gralise
Disaggregation of Revenue [Line Items]
Total revenues	(116)	17,800	431	31,078
NUCYNTA and Lazanda product sales adjustments
Disaggregation of Revenue [Line Items]
Total revenues	577	(145)	677	(12)
Commercialization agreement, net
Disaggregation of Revenue [Line Items]
Total revenues	0	31,003	11,258	61,859
Royalties and milestone revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 452	$ 263	$ 859	$ 886

REVENUE - Commercialization Agr

REVENUE - Commercialization Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenues	$ 20,617	$ 57,203	$ 41,534	$ 115,132
Royalties and milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenues	452	263	$ 859	886
Collegium Pharmaceutical Inc \| Amended Commercialization Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenues	11,300
Contract asset, amortization	1,800
Collegium Pharmaceutical Inc \| Amended Commercialization Agreement \| Royalties and milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenues	$ 13,100
Expense related to third-party royalties		$ 1,000		$ 2,100

REVENUE - Summary of Contract A

REVENUE - Summary of Contract Assets and Liabilities (Details) - Contract asset - Collegium, net - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jan. 31, 2018	Jun. 30, 2020
Contract With Customer, Asset [Roll Forward]
Contract asset, Beginning of Period		$ 1,896
Additions		0
Deductions		(1,896)
Contract asset, End of Period		$ 0
Contract liability	$ 10,000
Proceeds from issuance of warrants	$ 8,800

REVENUE - Royalties & Milestone

REVENUE - Royalties & Milestone Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Nuvo Pharmaceuticals Agreement \| Cambia Canada
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue recognized	$ 0.5	$ 0.3	$ 0.9	$ 0.9

ACCOUNTS RECEIVABLES, NET - Sch

ACCOUNTS RECEIVABLES, NET - Schedule of Accounts Receivables, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ACCOUNTS RECEIVABLES, NET
Total accounts receivable, net	$ 34,753	$ 42,744
Receivables from Collegium
ACCOUNTS RECEIVABLES, NET
Total accounts receivable, net	0	4,104
Receivables related to product sales, net
ACCOUNTS RECEIVABLES, NET
Total accounts receivable, net	34,653	38,353
Other
ACCOUNTS RECEIVABLES, NET
Total accounts receivable, net	$ 100	$ 287

ACCOUNTS RECEIVABLES, NET - Nar

ACCOUNTS RECEIVABLES, NET - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Allowance for cash discounts for prompt payment	$ 1.4	$ 1.2

INVENTORIES, NET - Schedule of

INVENTORIES, NET - Schedule of Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory
Raw materials	$ 1,320	$ 1,065
Work-in-process	6,965	426
Finished goods	17,113	1,921
Total	$ 25,398	$ 3,412

INVENTORIES, NET - Narrative (D

INVENTORIES, NET - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventory reserves	$ 0.6	$ 0.4

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 18,042	$ 15,367
Less: Accumulated depreciation and amortization	(10,693)	(11,870)
Property and equipment, net	7,349	3,497
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,846	2,557
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,655	2,731
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	221	221
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 11,320	$ 9,858

PROPERTY AND EQUIPMENT - Narrat

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.4	$ 0.3	$ 0.7	$ 0.6

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Summary of Gross Carrying Amounts and Net Book Values of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	May 20, 2020	Jun. 30, 2020	Dec. 31, 2019
Intangible assets
Gross Carrying Amount		$ 239,510	$ 1,098,588
Accumulated Amortization		(59,794)	(508,263)
Impairment			(189,790)
Total		179,716	400,535
Gross Carrying Amount, Goodwill		14,147	0
Goodwill		$ 14,147	0
Zyla Life Sciences
Intangible assets
Goodwill	$ 14,147
INDOCIN \| Product Rights
Intangible assets
Remaining Useful Life (In years) (Less than 1 year)		5 years 10 months 24 days
Gross Carrying Amount		$ 107,500	0
Accumulated Amortization		(1,941)	0
Total		$ 105,559	0
SPRIX \| Product Rights
Intangible assets
Remaining Useful Life (In years) (Less than 1 year)		5 years 10 months 24 days
Gross Carrying Amount		$ 52,500	0
Accumulated Amortization		(948)	0
Total		$ 51,552	0
CAMBIA \| Product Rights
Intangible assets
Remaining Useful Life (In years) (Less than 1 year)		3 years 6 months
Gross Carrying Amount		$ 51,360	51,360
Accumulated Amortization		(33,595)	(31,027)
Total		$ 17,765	20,333
Zipsor \| Product Rights
Intangible assets
Remaining Useful Life (In years) (Less than 1 year)		1 year 8 months 12 days
Gross Carrying Amount		$ 27,250	27,250
Accumulated Amortization		(23,213)	(22,044)
Total		4,037	5,206
Other \| Product Rights
Intangible assets
Gross Carrying Amount		900	0
Accumulated Amortization		(97)	0
Total		$ 803	0
Other \| Product Rights \| Zyla Life Sciences
Intangible assets
Remaining Useful Life (In years) (Less than 1 year)	1 year	1 year
NUCYNTA \| Product Rights
Intangible assets
Gross Carrying Amount		$ 0	1,019,978
Accumulated Amortization		0	(455,192)
Impairment			(189,790)
Total		$ 0	$ 374,996

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($) $ in Thousands	May 20, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization expense		$ 4,855	$ 25,443	$ 12,650	$ 50,887
Goodwill		14,147		$ 14,147		$ 0
INDOCIN \| Product Rights
Finite-Lived Intangible Assets [Line Items]
Useful life (for Other, less than 1 year)				5 years 10 months 24 days
SPRIX Nasal Spray \| Product Rights
Finite-Lived Intangible Assets [Line Items]
Useful life (for Other, less than 1 year)				5 years 10 months 24 days
NUCYNTA \| Product Rights
Finite-Lived Intangible Assets [Line Items]
Write-off of remaining carrying value, disposition		$ 369,100
Zyla Life Sciences
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 14,147
Zyla Life Sciences \| INDOCIN
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, fair value	107,500
Zyla Life Sciences \| SPRIX Nasal Spray
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, fair value	52,500
Zyla Life Sciences \| Other
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, fair value	$ 900
Zyla Life Sciences \| Other \| Product Rights
Finite-Lived Intangible Assets [Line Items]
Useful life (for Other, less than 1 year)	1 year			1 year

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Summary of Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020 (remainder)	$ 17,520
2021	34,492
2022	32,335
2023	31,591
2024	26,667
Thereafter	37,111
Total	$ 179,716	$ 400,535

ACCRUED LIABILITIES - Schedule

ACCRUED LIABILITIES - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accrued compensation	$ 7,999		$ 6,188
Accrued consent fees	4,500		0
Accrued restructuring costs	5,283	$ 1,332	3,763
Other accrued liabilities	13,782		8,997
Total accrued liabilities	$ 31,564		$ 18,948

DEBT - Summary of Long-term Deb

DEBT - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	May 20, 2020	Dec. 31, 2019	Aug. 13, 2019	Sep. 09, 2014
Debt Instrument [Line Items]
Gross, long-term debt	$ 99,234		$ 427,500
Unamortized debt discounts	(24)		(70,699)
Unamortized debt issuance costs	(2)		(5,543)
Carrying value	99,208		351,258
Less: current portion of long-term debt	(7,374)		(80,000)
Net, long-term debt	91,834		271,258
Senior Notes
Debt Instrument [Line Items]
Gross, long-term debt	0		162,500
Senior Notes \| Series A-1 Notes
Debt Instrument [Line Items]
Gross, long-term debt	50,000		0
Senior Notes \| Series A-2 Notes
Debt Instrument [Line Items]
Gross, long-term debt	45,000		0
Senior Notes \| Royalty rights obligation
Debt Instrument [Line Items]
Gross, long-term debt	3,899		0
Senior Notes \| 13% Senior Secured Notes due 2024
Debt Instrument [Line Items]
Interest rate		13.00%
Convertible debt \| 2.50% Convertible Notes due 2021
Debt Instrument [Line Items]
Gross, long-term debt	$ 335		145,000
Interest rate	2.50%				2.50%
Convertible debt \| 5.0% Convertible Notes debt 2024
Debt Instrument [Line Items]
Gross, long-term debt	$ 0		$ 120,000
Interest rate	5.00%			5.00%

DEBT - Narrative (Details)

DEBT - Narrative (Details) $ / shares in Units, shares in Millions	Jul. 31, 2020USD ($)	May 20, 2020USD ($)numberOfSeries	Feb. 13, 2020USD ($)	Jan. 01, 2020USD ($)	Aug. 13, 2019USD ($)shares	Apr. 02, 2015USD ($)	Jun. 30, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)$ / shares	Jun. 30, 2019USD ($)	Apr. 08, 2020USD ($)	Feb. 19, 2020USD ($)	Sep. 09, 2014USD ($)
Debt Instrument [Line Items]
Accretion of debt discount and debt issuance costs							$ 125,000			$ 6,056,000	$ 5,511,000	$ 12,220,000
Loss on extinguishment of debt							$ 16,272,000			$ 0	$ 47,880,000	$ 0
Common Stock
Debt Instrument [Line Items]
Extinguishment of debt, shares issued (in shares) \| shares					15.8
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 575,000,000
Proceeds from the issuance of debt						$ 562,000,000
Effective interest rate							11.65%			12.54%	11.65%	12.54%
Repurchased aggregate principal amount			$ 162,500,000
Payment of debt extinguishment			4,900,000								$ 171,775,000	$ 0
Payment accrued exit fees			$ 4,400,000
Senior Notes \| Three month LIBOR
Debt Instrument [Line Items]
Basis spread						9.75%
Interest rate through third anniversary of purchase date						11.95%
Interest rate after third anniversary of purchase date						12.95%
Senior Notes \| Three month LIBOR \| Minimum
Debt Instrument [Line Items]
Interest rate						1.00%
Senior Notes \| NUCYNTA
Debt Instrument [Line Items]
Proceeds from the issuance of debt						$ 550,000,000
Senior Notes \| 13% Senior Secured Notes due 2024
Debt Instrument [Line Items]
Interest rate		13.00%
Aggregate principal amount		$ 95,000,000
Number of series issued \| numberOfSeries		2
Interest rate, outstanding principal		10.00%
Covenant, liquidity ratio quotient		9.5
Covenant, minimum liquidity ratio, amount		$ 7,500,000
Senior Notes \| 13% Senior Secured Notes due 2024 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percent		100.00%
Senior Notes \| 13% Senior Secured Notes due 2024 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percent		100.00%
Senior Notes \| Secured Notes, Series A-1 Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 50,000,000
Senior Notes \| Secured Notes, Series A-2 Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 45,000,000
Senior Notes \| 5.0% Convertible Notes debt 2024 \| Subsequent Event
Debt Instrument [Line Items]
Repayments of aggregate principal plus accrued interest	$ 10,000,000
Senior Notes \| Royalty rights obligation
Debt Instrument [Line Items]
Royalty payments, percentage of revenue		1.50%
Royalty rights obligations							$ 3,900,000				3,900,000
Senior Notes \| Royalty rights obligation \| Royalties, Current
Debt Instrument [Line Items]
Royalty rights obligations							1,400,000				1,400,000
Senior Notes \| Royalty rights obligation \| Royalties, Noncurrent
Debt Instrument [Line Items]
Royalty rights obligations							2,500,000				2,500,000
Convertible debt
Debt Instrument [Line Items]
Payment of debt extinguishment											$ 264,731,000	$ 0
Reacquisition in additional paid-in capital, equity component							$ 2,718,000	$ 16,814,000
Convertible debt \| 2.50% Convertible Notes due 2021
Debt Instrument [Line Items]
Interest rate							2.50%				2.50%				2.50%
Aggregate principal amount									$ 145,000,000						$ 345,000,000
Repurchased aggregate principal amount													$ 42,100,000	$ 102,500,000
Debt extinguishment, amount					$ 200,000,000				200,000,000		$ 300,000
Extinguishment of debt, cash paid					$ 30,000,000
Accretion of debt discount and debt issuance costs									26,100,000
Unamortized balances of debt discount and debt issuance costs									18,900,000
Reduction in carrying amount of equity component									6,200,000
Carrying amount of equity component									$ 112,800,000
Loss on extinguishment of debt							$ 3,900,000	10,300,000
Reacquisition in additional paid-in capital, equity component								300,000
Repurchased aggregate principal amount, original principal amount													995
Stock price trigger							130.00%				130.00%
Conversion price (in dollars per share) \| $ / shares							$ 19.24				$ 19.24
Convertible debt \| 5.0% Convertible Notes debt 2024
Debt Instrument [Line Items]
Interest rate					5.00%		5.00%				5.00%
Aggregate principal amount					$ 120,000,000
Repurchased aggregate principal amount													34,500,000	$ 85,500,000
Loss on extinguishment of debt							$ 12,400,000	21,300,000
Reacquisition in additional paid-in capital, equity component				$ 19,500,000			$ 2,700,000	$ 16,800,000
Repurchased aggregate principal amount, original principal amount													$ 995

DEBT - Summary of Interest Expe

DEBT - Summary of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Long-term Debt, Unclassified [Abstract]
Stated coupon interest	$ 1,476	$ 8,758	$ 4,778	$ 19,120
Amortization of debt discount and debt issuance costs	125	6,056	5,511	12,220
Total interest expense	$ 1,601	$ 14,814	$ 10,289	$ 31,340

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Stock Based Compensation Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock-based compensation
Total	$ 3,593	$ 2,634	$ 5,527	$ 5,336
Cost of sales
Stock-based compensation
Total	18	50	41	50
Research and development expense
Stock-based compensation
Total	80	76	243	349
Selling, general and administrative expense
Stock-based compensation
Total	2,496	2,508	4,244	4,937
Restructuring charges
Stock-based compensation
Total	$ 999	$ 0	$ 999	$ 0

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	May 20, 2020	Jun. 30, 2020	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit, stock-based compensation expense		$ 0.3	$ 0.8
Options granted (in shares)			5.7
Options, granted, average fair market value (in dollars per share)			$ 0.50
Zyla Life Sciences \| 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, part of acquisition (in shares)	5
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			7.2
Average fair market value (in dollars per share)			$ 0.83

LEASES - Narrative (Details)

LEASES - Narrative (Details)	6 Months Ended
LEASES - Narrative (Details)	Jun. 30, 2020renewal_optionsublease
Leases [Abstract]
Number of subleases \| sublease	2
Operating lease, number of renewal options \| renewal_option	1
Operating lease, renewal term	5 years

LEASES - Lease Cost Components

LEASES - Lease Cost Components (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Total lease cost	$ 363	$ 325	$ 668	$ 660
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	216	178	373	365
Other loss
Lessee, Lease, Description [Line Items]
Operating lease cost	147	147	295	295
Sublease Income	$ 346	$ 361	$ 693	$ 723

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Supply Agreement (Details) - Supply Agreement $ in Millions	May 20, 2020USD ($)
Jubilant HollisterStier LLC
Supply Commitment [Line Items]
Supply commitment, minimum annual requirements, percent	75.00%
Cosette Pharmaceuticals, Inc.
Supply Commitment [Line Items]
Total commitments	$ 6.5
Catalent Pharma Solutions
Supply Commitment [Line Items]
Total commitments	1
Jubilant HollisterStier LLC
Supply Commitment [Line Items]
Total commitments	$ 2.9

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - License Agreement (Details)	Oct. 30, 2018
iCeutica Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License agreement, termination period after the first commercial introduction of licensed product in each country	20 years

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Legal Matters (Details)	Aug. 23, 2017actiondefendant	Jun. 30, 2020case
Securities Class Action Lawsuit and Related Matters
Legal matters
Number of defendants \| defendant	2
Number of shareholder derivative actions filed \| action	5
Multidistrict Opioid Litigation \| Minimum
Legal matters
Number of industry-wide opioid litigation cases (more than) \| case		2,000

RESTRUCTURING CHARGES - Narrati

RESTRUCTURING CHARGES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6,519	$ 0	$ 6,519	$ 0
Accrued restructuring liability	5,300		5,300
Zyla Life Sciences
Restructuring Cost and Reserve [Line Items]
Restructuring charges	6,519		$ 6,519
Employee compensation costs \| Zyla Life Sciences
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,800
Employee compensation costs \| COVID-19 Pandemic
Restructuring Cost and Reserve [Line Items]
Restructuring charges	600
Equity modifications \| Zyla Life Sciences
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,000
Other exit costs \| Zyla Life Sciences
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 100
2019 Cost Savings Initiative \| Employee compensation costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges					$ 3,900

RESTRUCTURING CHARGES - Schedul

RESTRUCTURING CHARGES - Schedule of Restructuring Activities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Equity compensation costs	$ 3,593	$ 2,634	$ 5,527	$ 5,336
Total restructuring costs	6,519	$ 0	6,519	$ 0
Zyla Life Sciences
Restructuring Cost and Reserve [Line Items]
Employee compensation costs	5,435		5,435
Equity compensation costs	999		999
Other exit costs	85		85
Total restructuring costs	$ 6,519		$ 6,519

RESTRUCTURING CHARGES - Sched_2

RESTRUCTURING CHARGES - Schedule of Accrued Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Accrued restructuring and severance costs rollforward
Balance at beginning of period	$ 1,332	$ 3,763
Net accrual additions	5,520
Cash paid	(1,569)	(2,431)
Balance at end of period	5,283	1,332
Employee compensation costs
Accrued restructuring and severance costs rollforward
Balance at beginning of period	1,332	3,763
Net accrual additions	5,435
Cash paid	(1,484)	(2,431)
Balance at end of period	5,283	1,332
Other exit costs
Accrued restructuring and severance costs rollforward
Balance at beginning of period	0	0
Net accrual additions	85
Cash paid	(85)	0
Balance at end of period	$ 0	$ 0

NET INCOME (LOSS) PER SHARE - N

NET INCOME (LOSS) PER SHARE - Narrative (Details)	May 20, 2020shares
Zyla Life Sciences \| Warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Purchase price, number of shares outstanding (in shares)	12,430,913

NET INCOME (LOSS) PER SHARE - S

NET INCOME (LOSS) PER SHARE - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Basic net income (loss) per share
Net (loss) income	$ (34,499)	$ 41,230	$ (13,605)	$ (14,301)	$ 6,731	$ (27,906)
Weighted average common shares and warrants outstanding (in shares)	98,558		64,480		89,835	64,405
Basic net (loss) income per share (in dollars per share)	$ (0.35)		$ (0.21)		$ 0.07	$ (0.43)
Diluted net income (loss) per share
Add: effect of dilutive stock options, awards, and equivalents (in shares)	0		0		401	0
Denominator for diluted income (loss) per share (in shares)	98,558		64,480		90,236	64,405
Diluted net loss per share (in dollars per share)	$ (0.35)		$ (0.21)		$ 0.07	$ (0.43)

NET INCOME (LOSS) PER SHARE -_2

NET INCOME (LOSS) PER SHARE - Schedule Dilutive Shares Information (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Aug. 13, 2019	Sep. 09, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common shares (in shares)	11,839	24,958	24,249	24,499
Stock options, awards and equivalents
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common shares (in shares)	10,500	7,027	7,826	6,568
2.50% Convertible Notes due 2021 \| Convertible debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate	2.50%		2.50%			2.50%
2.50% Convertible Notes due 2021 \| Convertible debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common shares (in shares)	234	17,931	2,685	17,931
5.0% Convertible Notes debt 2024 \| Convertible debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate	5.00%		5.00%		5.00%
5.0% Convertible Notes debt 2024 \| Convertible debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common shares (in shares)	1,105	0	13,738	0

FAIR VALUE - Schedule of Fair V

FAIR VALUE - Schedule of Fair Value Hierarchy for Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Liabilities:
Contingent consideration, current portion	$ 8,700	$ 0
Contingent consideration	20,859	168
Recurring
Assets:
Total	77	9,629
Liabilities:
Contingent consideration, current portion	8,700
Contingent consideration	20,859
Contingent consideration liability		168
Total	29,559	168
Recurring \| Money market funds
Assets:
Cash and cash equivalents	77
Recurring \| Collegium warrants
Assets:
Investments		9,629
Recurring \| Level 1
Assets:
Total	77	0
Liabilities:
Contingent consideration, current portion	0
Contingent consideration	0
Contingent consideration liability		0
Total	0	0
Recurring \| Level 1 \| Money market funds
Assets:
Cash and cash equivalents	77
Recurring \| Level 1 \| Collegium warrants
Assets:
Investments		0
Recurring \| Level 2
Assets:
Total	0	9,629
Liabilities:
Contingent consideration, current portion	0
Contingent consideration	0
Contingent consideration liability		0
Total	0	0
Recurring \| Level 2 \| Money market funds
Assets:
Cash and cash equivalents	0
Recurring \| Level 2 \| Collegium warrants
Assets:
Investments		9,629
Recurring \| Level 3
Assets:
Total	0	0
Liabilities:
Contingent consideration, current portion	8,700
Contingent consideration	20,859
Contingent consideration liability		168
Total	29,559	168
Recurring \| Level 3 \| Money market funds
Assets:
Cash and cash equivalents	$ 0
Recurring \| Level 3 \| Collegium warrants
Assets:
Investments		$ 0

FAIR VALUE - Narrative (Details

FAIR VALUE - Narrative (Details) - USD ($)	May 20, 2020	May 31, 2020	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Schedule of Cash and Cash Equivalents and Marketable Securities [Line Items]
Short-term contingent consideration				$ 8,700,000		$ 0
Long-term contingent consideration				20,859,000		$ 168,000
Proceeds from sale of investments				6,000,000	$ 0
Collegium warrants
Schedule of Cash and Cash Equivalents and Marketable Securities [Line Items]
Proceeds from sale of investments		$ 6,000,000
Investment, carrying value derecognized		$ 6,500,000
Loss on sale of investments				500,000
Collegium Pharmaceutical Inc \| Receivables from Collegium
Schedule of Cash and Cash Equivalents and Marketable Securities [Line Items]
Warrant, fair value price (in dollars per share)			$ 16.33
Collegium Pharmaceutical Inc \| Receivables from Collegium
Schedule of Cash and Cash Equivalents and Marketable Securities [Line Items]
Warrant, expected term			2 years 7 months 9 days
Warrant, risk-free rate			0.27%
Warrant, remaining contractual period			2 years 7 months 9 days
Zyla Life Sciences
Schedule of Cash and Cash Equivalents and Marketable Securities [Line Items]
Short-term contingent consideration				8,700,000
Long-term contingent consideration				$ 20,700,000
INDOCIN \| Zyla Life Sciences \| Option Pricing Model
Schedule of Cash and Cash Equivalents and Marketable Securities [Line Items]
Contingent consideration, future royalties, estimated revenue, period	10 years
INDOCIN \| Zyla Life Sciences \| Discounted Cash Flow
Schedule of Cash and Cash Equivalents and Marketable Securities [Line Items]
Contingent consideration, future royalties, present value rate, percent	11.00%
INDOCIN \| Zyla Life Sciences \| Iroko
Schedule of Cash and Cash Equivalents and Marketable Securities [Line Items]
Contingent payment consideration, future royalties covenant, product net sales (over)	$ 20,000,000

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Tax (benefit) expense	$ (9,472,000)	$ 1,141,000	$ (7,424,000)	$ 1,351,000
Federal statutory rate			21.00%	21.00%
Effective tax rate				(5.20%)
Accrued interest and penalties associated with unrecognized tax benefits	$ 0		$ 0

DISPOSITIONS - Sale of Gralise

DISPOSITIONS - Sale of Gralise (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 10, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Co-promotion service income	$ (499)		$ (1,240)	$ (3,824)	$ (1,849)
Gralise \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received, including base purchase price and inventory adjustment						$ 78,600
Consideration received, base purchase price						75,000
Consideration received, inventory adjustment upon disposal						$ 3,600
Consideration receivable as percentage of net sales after closing						75.00%
Threshold for consideration receivable on net sales after closing						$ 70,000
Net sale after closing, contingent consideration						$ 52,500
Adjustment to gain on sale	900
Contingent consideration, payments received				51,600
Contingent consideration deemed to be probable	52,500			52,500
Gain (loss) on disposal	127,500
Upfront consideration received	78,600
Inventory transfer	$ 3,600			$ 3,600
Co-promotion service income		$ 1,300

DISPOSITIONS - Termination of S

DISPOSITIONS - Termination of Slan Agreements (Details) - License Agreement - Slan - USD ($) $ in Millions	Feb. 06, 2020	Nov. 07, 2017	Dec. 31, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License fee received in cash		$ 5
Term of license agreement		10 years
Reimbursable development expenses			$ 2
Reimbursable development expenses, received	$ 2
Possible future payments to be received, based upon commercial sales, if circumstances met	$ 10

DISPOSITIONS - Sale of NUCYNTA

DISPOSITIONS - Sale of NUCYNTA (Details) - NUCYNTA - Disposal Group, Disposed of by Sale, Not Discontinued Operations $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Feb. 11, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Feb. 13, 2020USD ($)payment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received, including base purchase price, inventory adjustment and royalties received				$ 367.9
Proceeds from divestiture of businesses, base purchase price				375
Proceeds from divestiture of businesses, inventory amount				$ 6
Royalties received	$ 13.1
Number of lump sum payments \| payment				2
Gain (loss) on disposal			$ (15.8)
Consideration received			367.9
Carrying value of intangible derecognized		$ 369.1	369.1
Inventory transfer		5.6	5.6
Accrued third-party consent fees		9	$ 9
Net proceeds received		$ 1
Third-Party Consent Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Lump sum payments obligation				$ 4.5