Earnings call transcript Q4 2022

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Operator

Good afternoon and welcome to the Assertio Holdings' Fourth Quarter and Full Year 2022 Financial Results Conference Call. All participants are now in listen-only mode. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Matt Kreps from Darrow Associates Investor Relations for Assertio. ahead. go Please

Matt Kreps

is thank encourage discuss and discussion. is financials. for us and at presentation this joining news page accompanying the Good our the to of fourth you to review quarter important to website period for earnings Assertio's covering I XXXX it available and today today's on release Investor would afternoon investor.soutiotx.com. our all now you full as The release year the

President provide and review President followed Peisert, and of me Paul will will Vice Dan With who our today business Senior CEO; and we questions. that, open open Schwichtenberg, are will the After Paul by the an the Dan financials. your CFO. call remarks and overview for

make the statements performance future as Factors noted morning's including management other and section press Risk for in and Such performance. annual well this call, sections uncertainties regarding are as future involve and statements this the other report are guarantees release forward-looking forward-looking those filings other risks the and During will XX-K. not of SEC. fully in our Form risks and our of These projections more described on with Assertio's

statements specifically from materially projected actual may required law. these as results by to Our differ forward-looking disclaims or update in and the obligation those intent forward-looking Assertio any statements except

turn over Dan. to now call I'll the that With

Dan Peisert

had quarter restructuring the you, that joining third Thank Last from to this actions I marked pivot towards remarked everyone we Matt. Welcome taken quarter to the afternoon. growth. had in us

quarter, is reported we've Now, our self-evident. fourth growth that that

increased XX%. the versus XX% year. increased EBITDA Adjusted sales product Net prior

$XX.X last X.X-fold our XX% operations flow adjusted was up margins cash XX% to year. EPS Adjusted increased XX% and Our EBITDA were from nearly million. versus

more product in fact operating business of in quarter of generated flow net the XXXX. three the sales quarters cash we this four than generated In

contributed we've early taken net $X.X to the internal fourth the that these to-date, quarter which deal Sympazan model and XXXX, of have our quarter in including expectations. sales in the this outperforming We're acquisition extremely led million proud actions is results of

way time. execute come environment. in both yet of period our long better now the financially to to growth I'm a excited We've is and in plans most short what's come. position We're on a for a far What current

goes where As is the book is song the unwritten. today begins rest our still

growth habit them improve -- And future I've the who anyone cycle are, investor our different. execute company. has on create discussing first, out call year developed They priorities the This then business. life a be for to not the maintain should continue to year. of development business corporate our portfolio should INDOCIN our management followed to priority surprise and first to laying execute be on and of surprise will to third, platform; a not our commercial our no to non-personal plans M&A build initiatives; on and the diversify value our INDOCIN of second, opportunities our

and accurate and improvements to more We're We're be feedback to platform internal investments to improve going continue substantial year. grow we our commercial making our this early so can the and timely platform and in doing ability demand. ROI advance to our some this have

Let our with me across starting SYMPAZAN down bit just and brands little break key that OTREXUP. a

rates Important are and mentioned and consistent significant and been campaigns digital ahead We're provide the dosing. more of awareness we attributes delivery very accurate education prescribers earlier, have communications been unique amazing drug's see patients. a of this benefits our the the to for film-based initial dissolving drug of we've around this LGS to I sales the some on encouraging with SYMPAZAN As Open results of seeing digital forecast. running. opportunity

both finished we some that have but an had Not year. challenges samples. this and do only growth had we pushed entrenched product with with OTREXUP into competitor, year, Last we stumbles some opportunities supply

Our supply now behind issues are us.

and into that especially can believe pediatric digital the So expanded promotion, help reach segment, focused growth we're through and back on the product that create on XXX% demand.

We strategies With the respect the exiting to an INDOCIN, product our impactful demand. of to the incented made maintain date, majority team volumes year unprofitable and by been to those changes to very some we as goal from we've entered segment. is was To retain to their the the which able recommends ASGE, members and maintain for guideline NSAIDs administration of year. pre-procedure the pancreatitis as the rectal Recently, XX,XXX for for the Endoscopy Society all same post level prior updated nearly or of volume is American ERCP Gastrointestinal prevention patients. now

who for the only US. recommended pancreatitis. risk patients Please could see our the opportunity This the for in we is at and the in only being is believe INDOCIN previous Based upon that FDA-approved high approximately product we as tremendous how that INDOCIN in RCP, customers end sales, Assertio. the be XXX,XXX change Their annually. used remember indomethacin is considered procedures guidelines in rectolensit used a

a we're how source and implies use market market but three are is sales guideline performed with what current. not net US, assume times the our the estimate This which research for reliable does providing annually EBITDA simple any than INDOCIN represented incremental indicated searches, in the from don't guidance provide Internet recent from somewhere adjusted This for XX% consistent or articles The in the product XXX,XXX the open neighborhood, most a segment change ERCPs XX% XXX,XXX. We to that many this is an has change. have high-risk of potential up larger to benefit the new to XX%. is

compliance prevent educate physicians ERCP makes product that ASGE our these that can serious important committed appropriate Assertio Assertio new within guidelines for the evaluating even to is to acutely product so off-label just physicians this how to the so This and we mentioned. use constraints remains can the that product it promote usage is We're the an more execute of label, we deeply promotional and the use. can in of aware currently the plans the currently, to safe, this provide and this regulations. remaining with FDA on institutions about we add important change with product's that we the complication indication for guidelines the dosing and

feedback We our are trial. clinical submission pre-IND a incorporating the into received of design and feedback from now that FDA

We earlier you relevant lead execution this in a which and be this week of new have trial. in will us as the beneficial also experience very board initiative saw Howard to on some SVP the for this both of Medical design and has area, extremely

and be will that take an trial additional and at to we share time. investors with with our will design. proposed long Once cost Our it much have IND next the step into how how will approved, clinical submit clarity we'll will

guidance an cost estimate approximately to EBITDA include of for does for XXXX $X million Our the clinical early of million. $X the

making product to relevant to In are make in convenient setting. and there we more changes it addition, are this the that

current repeated The for use, was use. use single product designed opposed and ago to a years a completely as for different

time the later ourselves going those year. we're For prior but being, changes starting reasons, the for keep to trials competitive share this to to we'll

adding regulatory driver which this label Upon for successful beyond our product us. to of rationale eligible the and is will three for goes the changing execution, years a product, promotion for be exclusivity key The for we and growth.

We The want enemy for do to fast as program time. possible. whole is this as this

do enroll. deliberately all to we we designed a When will the have time we also to enrollment. input accelerate comes, whatever being FDA's physicians address the of the trial and ensure can we're will So that

last and business the I extremely one recent banker at with to said, a respect seen many years. six a been sale I sentiment. doing had agree busy conversation since I for With that we're healthcare XXXX in point never seven I've development, right available so who this with have now. assets to

and It's that that support products, are be a sheet available both a The tremendous opportunities and companies. entire cycle, multiproduct both in to and to have this balance late marketplace are diverse. time the cash and small acquisitions. March, buyer life flow early can and Single portfolios

our acquire acquire mission IP diversify to highly that $XX the this the that gross are meet to long profit goal end same. additional I with accretive. will that be we duration opportunities year. To business and Our growth of durable future to of able those an confident a provide and remains the priority remain have by million that assets

our Paul? Paul Now, discuss over I'll results. to to turn the call quarterly

Paul Schwichtenberg

afternoon, This our quarter XXXX. from financial highlights of review Dan. fourth will you, Thank the I

summarize quarters, available slides our are there previous on that results. in these website As

net Net and were driven more sales offset product sales of year expected quarter. and quarter to and The million sales SoluMatrix. of declines INDOCIN of by OTREXUP product the million is $XX.X than quarter in which primarily $XX.X the in prior compared increase net XXXX, year the versus for million quarter the fourth last SYMPAZAN, the prior Zipsor addition in $XX.X and

the in primarily to inventory XXXX, in $XXX.X levels quarter, year-over-year Full channels volume reduction net year XX% this $X over customer more million to sales and XXXX after to return Approximately family of mix normal related $XX.X the prior million prior a quarter increase a product inventory million in versus the net million increase. quarter. were due sales shift was a increased by INDOCIN representing change. the profitable to a $XXX.X fourth year

combined for and October prior for were products quarter in OTREXUP as sales million. year $X.X XXXX were in and these net the mid-December XXXX, quarter, sales acquired SYMPAZAN and SYMPAZAN fourth OTREXUP There the no were respectively.

quarter net a shift offset more quarter. of an higher $X.X rebates the primarily quarter flat to net by mix increase sales and were the commercial in were lower lower SPRIX partially volume million $XXX,XXX the profitable sales Overall prior quarter, versus net partially to and XX% due year portfolio of to due prior CAMBIA fourth by year to higher versus year volume up prior million to $X.X channels. offset were due volume discounts. reflecting the rebates sales

product prior The margins cost in the full also a was resulting XX.X% mix product of in improved fourth XX.X% gross versus margin as sold XXXX of year with due gross net to the XX.X%. XXXX. sales quarter of a margin reflect quarter Consistent in lower percentage INDOCIN and goods on products

XXXX consignment in free which focus shipment through gross to and profitability costs and portfolio on resulted led the throughout sold, continued cost achieved lower the to and a was co-pay goods expenses and and respectively. improved gross reduction lower net Our sales has margins net profit across of goods, of in

of the profit, and for the The quarter. fourth sales million increased administrative marketing EBITDA for the increase and Otrexup compared expenses driven higher million resulting expenses selling product Adjusted and million and $XX.X by by net last in $XX.X $XX.X sales year quarter partially to Sympazan. and in due prior $XX.X general gross year-over-year increase offset quarter was additional to was million

lower million XX.X% Adjusted EBITDA as prior of versus the million adjusted in quarter year fourth a XX.X% and in EBITDA year-over-year $XX.X of the primarily full $XXX.X was margins higher was Otrexup the in quarter. net product year SG&A XXXX an percentage increase versus sympazan, by XXXX margin reflecting driven expenses. addition was reflected revenue total increase and XXX%. The improved and sales of Indocinn gross

the The calculated the fourth GAAP. under earnings adjusted required share is per shares year XXXX now shares full $X.XX. the share non-GAAP million note per prior per in quarter Please was The in earnings full is the share prior if-converted using including quarter convertible impact is fourth earnings quarter. that XX.X notes non-GAAP adjusted share as $X.XX the $X.XX in diluted quarter. $X.XX impact versus was diluted year of additional and

to prior Adjusted both versus personnel costs million quarter in quarter The due Otrexup last in the additional primarily for headcount is due increase million the $XX.X year with $X.X prior administrative the Sympazan along quarter selling, year general costs and and and compared additions. $XX.X expenses were fourth to new million to quarter.

XXXX. SG&A settlements year-over-year and platform. the is year-over-year XXXX commercial adjusted full a million -- primarily legal and to $XX.X cost non-personal onetime in million The year savings were reserves versus $XX.X due decrease expenses our and from change

operating generating the allowance of tax net in by million for the has company's against net and year valuation quarter financial the This compared positively $X.X Net tax impacted $X.X million was million quarter last change The been our the a $XX.X assets. $XX.X flows. fourth income cash income fourth benefit reversal income positive was from in to performance, consistently the adjustment quarter. and million positive prior now reflects quarter deferred an which

result to addition SG&A higher a and mentioned sales previously expenses net increase in the higher In also of forecast. gross Indocin change $X.X million value as income in the an for fair expense included contingent sales, long-term of profit consideration

activities cash of lower our statement our to resulting $X.X provided Fourth income Net debt million which convertible cash reflected was for expense, reduced also X.X% of in interest XX%. quarter reported refinancing, flows operating from by million. the cash from interest rate the quarter fourth net $XX.X as company's

of increase operations, For cash prior generated full million versus the year. we've the an year, in $XX.X flow $XX.X million from

price profitability, manage in million, year. the improvements the XXXX XX, capital $XX quarter. resulting quarter, we've convertible throughout cash increase in resulted and million prior Otrexup principal payments, flow refund, December the to increased reflecting making in reduced despite debt in refinancing cash Ending The in the Sympazan. was addition accounts in payments service working $X.X an effectively In quarter benefit slight debt collected tax on final the year receivable of elimination versus the of fourth debt million prior purchase August for income and versus a collections, $XXX,XXX $XX.X of

and its convertible approximately seeks an the the This for amount exchanged its December a XX, business million of aggregate XXXX, can On that in debt any million XXXX, debt. outstanding to agreements, debt Assertio debt exchange our development of in $XX amount stock unamortized issuance finance principal in Assertio transactions. company aggregate the balance indebtedness convertible combination On entered event reflecting aggregate less costs into shares million, $X of of $XX debt an $XX pursuant cash transactions secured long-term common balance, million February was million of become notes senior with which of of of the million. seven the reduces to exchange $XX.X XX, future

accretive Assertio shares dilution debt the overall receive save by of EPS any interest annual did company the XX% the Assertio's reduce potential convertible by by the will $X.XX. proceeds cash notes in will payments, from exchange diluted transactions the XXXX The and its stock. X.X% common not issuance from million $X reduced to be of

guidance $XX to more XX as follows. are product the million we annual the be year good is and to anticipate reflecting into and have is on EBITDA Cambia $XX the $XX on for to first start Full X days net million of the of first to-date, patient Based sales to co-pay $XX expected million, quarter typical year. seasonality sales deductible expected and XXXX in be $XXX are net our loss $XXX adjusted the than we million. resets insight be into to exclusivity. quarter, million product million, Since sales Lastly, we to January to due

of to has The but XXXX supply resume factors. the first quarter. for following OXAYDO addition, we been our the the do full for of supply quarter, reflects guidance In out by year expect most second

growth X, new strategies, Indocin exclusivity; which exclusivity offsets the net product For sales, January loss driven SYMPAZAN, Cambia the by addition commercial channel XXXX; of Cambia loss on partially of of and net inventory QX, higher less profitable net pricing to million on of by including returned normal driven inventories approximately that a shift in volume Indocin to more levels. channels, the benefit XXXX one-time $X customer sales

EBITDA and the costs guidance to related employee Sympazan, expenses versus Otrexup and of costs. clinical samples step-up in Indocin XXXX additional the reflects for expenses operating annualization

updated new This as benefit mentioned. does portfolio not well effect Dan guidance the acquisition the as the of assets of the include potential potential recently guidelines from that ASGE

increase of our result a opportunity largest loss as was guidance to despite second of commercial sales exclusivity which XXXX net that actions our noting the worth XXXX, reflects our XXXX in Cambia, product. the on and execution It's strategic over

utilizing to and be in Sympazan continued our fund business flow these and the for revenue Indocin, investment opportunities maximize will operating potential we products. to Additionally, Otrexup cash development

Overall, again quarter cash pleased and commercial year results, we operating once incredibly the are most execution full and notably flow with generation. our

aimed our goals are path long-term XXXX strategies to sustainable ahead, growth. Looking at continuing and Assertio's

to over back turn I'll call Matt. now, the And

Matt Kreps

company Thank Q&A research will you our time, the community. you, Paul from we analysts can for and investor instructions please Dan. listeners. from Joel, take At questions this institutional provide our and

Operator

Absolutely.

Lake line first question [Operator session. We the from question-and-answer Flaten will the of Thomas Instructions] is with now Street. begin The

proceed. may You

Thomas Flaten

quick remarks, of said A Is you seen return majority right, greater you've correct you or Hey. on can give XXXB anything you Good majority the in afternoon, us I color reordering of prepared heard if XX%. more questions. is Dan, of If that your heard customers. any there Congrats. the that? couple guys. I than that

Dan Peisert

north it -- but of it's XX%. think that I majority mean does yes,

Thomas Flaten

you to know strategy year, that, I then that it direct to converting Could the Okay. of thoughts your you as us the that goes business? maybe give exit on And distribution. an where just behind through some business hope and proportion and you increase update a have

Dan Peisert

the ours. strategy tremendous is reasons, recently. competitive metrics for It just keeping to but success there the vest a of having we've We're there been close

Thomas Flaten

kind tagging then the And to guidelines. Great. new final of on one the

of the you submitted out, prophylactically, a care it protocol least wouldn't thoughts protocol, anticipate have design you that? the Any of envisioned arm. these that because care there standard guys wrinkle guidelines As being product a on, be got and the at in according of you on prior since a you would standard to use coming natural to to or so do that feedback control the wasn't guidelines

Dan Peisert

think basically those that I this were The that. change already recognize care high risk. is impact of considered don't that it going to standard for FDA was

So do, just not example, to a us they were pushing like for placebo-controlled trial.

number we preliminary notable biggest that to to the they had most to submitted like think to address our them. thing like design to we is us there's try I And address, of so that that we to have additional relative have some ranging things a would doses. dose the

So we're trying accommodate to that.

Thomas Flaten

Appreciate Thanks. taking questions. the it. Got for

Dan Peisert

Thank you.

Operator

next The you. the is ROTH Henry line Scott from with Thank Capital. of question

proceed. may You

Scott Henry

Good you. I unpack, on. a just Congratulations of results. have a that to afternoon. questions couple Again, lot we'll so strong focus Thank

for fourth to that make First, quarter. you just Could fourth the sure quarter? about gave of I some in terms granularity level repeat had you I that? correct in INDOCIN just want sales

Paul Schwichtenberg

returned the continued benefit QX. from in was with as to inventory customer it of But $X had I so buying what XXXB the price normal customers we inventory Scott, that. also a mentioned Well, quarter benefit, so fourth some the levels reflected mentioned, as million levels Dan

end taken at had mentioned we had the QX. we them down of recall you If that

million. QX in was a So one-timer $X of there

Scott Henry

say I you it million I correct? I Okay. was that $XX heard say higher that is you – did overall, Did sequentially that hear thought

Dan Peisert

quarter. – $XX.X $XX.X than year prior million higher million the

Scott Henry

around million get And for $XXX year the year. guidance over speaking the million, And to of referring $XXX Okay. past, were that you which XXXX. I was assume would of matching to when one

match you that depending can guidance? which think conservative annual new you So XXXX for number on the again, could be

Dan Peisert

That's Scott. Yes, correct. Yes.

Scott Henry

Okay.

quarter. want important it then higher sure new But Sympazan that. on if like Just sounded OTREXUP the the a of within certainly expect correct million little was I did make such was expected. you that's than have grow do it lower OTREXUP, I ballpark an the products, a think sequentially? math little the just to but in $X.X around How expectations? product. I I And to

Dan Peisert

Yes, right you've to number is And grow that OTREXUP there, Scott. got expectation will XXXX. our going to be the into we able

the we in And XXXX also some issues mentioned, more will into additional Dan samples, As supply which believe ran behind drive that investing in us. are volume. we're we

Scott Henry

like side, short-term on just start we you within are follow-up, the Okay. And when obviously then of R&D type this, to an be trial about generally a But indication, forth putting could a from at of we looking follow-up could do trial year the this kind it's that what your such trial, IND. you're that think typically your acute pretty finish?

Dan Peisert

Yeah. It's depend all going enrollment. to on

right a follow-up of to a we're I day is a there going with five level on think we'll measuring total have we're XX days You're but seven, propose the like on primary patient endpoint basis. that day what

the So can trial. -- fast this will hinge we on enroll the timing how all will

Scott Henry

be about on thinking that And Any far compound. know on anything we orphan as should had catalysts that drug there? as you Great. we where Okay. updates stand I

Dan Peisert

predicting to Yeah. for be months wrong about were able they We probably -- going that. to had I've file XX been when

over I time has predicting so their we myself last made say that I this FDA anything the a until keep really So my skis accepted don't getting on out wouldn't just filing far -- I'm is would everything can't is And we're just slower But I like. to than progressing comment everything as aware, on because not going control predictions. comment it we one. as just

Scott Henry

steady shares tax with wiping will a a And now outstanding for and traditional what we're state enough. be all here? when then good in number Okay. a at that it that, rate bookkeeping what's we about think And questions. convert tax Fair XXXX? One, probably out should rate a final the just

Paul Schwichtenberg

this Paul. Scott, is

rate And the and million but our when to full number probably going that Now low K, basically be the XX% at you $XXX looking share we're were in between is at mid-XXs. gets impact refer would tax -- you for shares, double-digits the to the XX basically outstanding of we into I we you million the the XX%. add mean

Dan Peisert

Yeah.

amount think shares? Scott I the fourth just is going to it the just it was quarter proxy we that reduced we that exchange be around -- dilution it the What for right. good by did XXX,XXX had a

Paul Schwichtenberg

Right.

Dan Peisert

fourth number a is proxy. quarter So the good

Scott Henry

one there the up expect? book mean, given Okay. tax statement why around traditionally into And you you what wouldn't you rate now follow-up the on rate. income the just tax I asset XX% that or be

Paul Schwichtenberg

We're of able to have getting have there out we have sheet to balance going -- that NOLs still be on we we or the that some benefit the still use.

Our gross on NOLs side $XXX are on million. the about federal

Scott Henry

Okay.

So -- okay. you're still

So now. tax rate a cash or you're from you talking

Paul Schwichtenberg

Right. That we report.

Scott Henry

Okay. Thank taking you questions. for the

Dan Peisert

Thanks, Scott.

Operator

of Hamed Thank Instructions] is the line The [Operator BWS Financial. question you. with from Khorsand next

You proceed. may

Dan Peisert

Hey, Hamed.

Hamed Khorsand

Hi.

had the I much given ASEG this of question INDOCIN or using population into first change, kind that being same slowdown would on pretty the translate of transition, a doctors to be? wanted the So fast what it's guideline was

Dan Peisert

they XXXX put risk is was in or years used I the New first to ago it include have in five don't think that since for When analog. early the late publication already first a -- England the the guidelines -XXXX. out for great Journal England high being We indomethacin New

So we accelerated bit the this. in well of And aware a continuing are trend it XXXX. physicians was little know

guess, compliant. We're tremendous it we're of we and So like? accelerate that what what our this going here, There's us. to a certainly on, to from the exist to going can be opportunity potential is I that for for or be, strategies out until the shape for to predict could doubt, -- no growth looks finalize necks opportunity sticking cautious awareness are our be education does the

Hamed Khorsand

is manufacture you if year? and kind do channel this much of in can how for the you the feel any out with there there comfortable is what on inventory growth And front,

Dan Peisert

we a thinking week. guidelines That is last we've these what since question, all tremendous and about been saw

have We ample inventory today.

vast that we balance we what have You majority do of outstanding can that accelerate could the our we've been -- supplier talking The we're contemplating of on INDOCIN. sheet. some to is already. inventory that with see and And POs the

Hamed Khorsand

last And room pricing. on think is with feel Do having you if just still for you supply? -- it question pricing Do you the Okay. is comfortable shortages to increase there's of where you instance? start

Dan Peisert

not I'm of planning the question. now we that pricing Right I'm to supply. have can comfortable shortages where Good adequate going make or to is supply. are to have with do I sure everything the product. we

Hamed Khorsand

Okay. Thank you.

Operator

next from Mitra Sidoti. The Ramgopal of question is the with line

You may proceed.

Mitra Ramgopal

for Sympazan quarter. afternoon. first expecting? the taking versus questions, expectations. upside my to Good Yes. certainly the exceeded of sort I congrats you're led just your on what the was it wondering, Thanks On

Dan Peisert

I think just that we this reported to thought. the with in what upside it quarter we $XXX,XXX in relative of fourth was I think about

Mitra Ramgopal

Okay.

Dan Peisert

internal our what and model was above uptake January in February. good seeing deal we're But

an XXX% you to we Just be it's other products low-single certainly on some that because to the traditional the for X% rates think for but, related we're example can't of in promotion give it's open an of have I that our I would the marketing say would e-mail on digits example, doing X%.

to that XX%. are rates Sympazan XX% we're open The for seeing

sure make benefits. can Sympazan just its about and it awareness is that are and and these of the us multiples that patients So education physicians lot know that that its here higher treating that to can still a there's happen shows

Mitra Ramgopal

investments how and in forward look of you force or SG&A model terms personnel you to headcount? as probably about the make to going And we Thanks. think sales should you in relates Okay. increased as it have, and leverage need

Paul Schwichtenberg

I that going further acquired going couple a at to for be We're about that product mentioned, I as One Sympazan in we of the would Mitra, Otrexup. to what see some we're look reasons. just ahead, XXXX, is, in more end say step-up investment a in in as investing, that expenses we of XXXX. is

also And clinical delayed there R&D we're were in on then, out mentioned, I to more samples, spending XXXX. which for the we've front going got As on be INDOCIN. studies the

Mitra Ramgopal

Okay.

the of, now, no force guess? no sales cetera, I need or imminent terms So in having add to need right et

Paul Schwichtenberg

at that, do There's to plans No, need. this no point.

Mitra Ramgopal

sound could color, And really Dan, wondering, terms the you you're in Okay. us type just you give excited was of on sale. of BD I the for seeing pipeline, a Thanks. assets in if lot this maybe of valuations some environment.

Dan Peisert

by But, is, asset. than I they can it's XXXX, -- were times really this, generalization when think I they're were the we I that paying more give far asset five doing It reasonable in and started revenue.

the large amount attractive the I we're perceptions And sellers in very of a So think are come and reasonable they've opportunities. check. seeing, very valuation of

Mitra Ramgopal

Thanks. outlook year, really Okay. the And again, up given like you nicely. for set the it looks

terms that wondering any potential now? Just of, be in of right cost you're seeing caution headwinds might

Dan Peisert

would caution. that nothing there's No, cause

million million. We have to we've anticipated into some $XXX the baked headwinds already the that guidance, provided to that get $XXX

Mitra Ramgopal

taking questions the for Thanks Okay.

Dan Peisert

you. Thank

Operator

further questions time. no at Thank are you. currently this There

session. will Officer, I turn back to this like for any over closing the Dan President Peiser, and conference question-and-answer conclude Executive our would remarks. to So, Chief

Dan Peisert

had is Thank in fourth one the the the we've tenure you, with company. of conclusion, quarter In Joel. best quarters, my

growth despite CAMBIA, year-over-year, demand. the we as for business Looking in revenue to positive to investments the make base loss exclusivity of our ability forward, platform show the grow is digital

is there far to to addition, In changes recent potential with affecting do better the the us. guidelines

development attending conference We those to very is and you, seeing next you appreciate much. Thank how Roth pleased the Sympazan call. very all look the continue taking you good forward trending. a you to acquisition business to I most be week. recent with active our and of in join evening, Hope, are have of our time

Operator

now conference concluded. has presentation. Thank The you for attending today's

You may now disconnect.

Assertio (ASRT) 8 Mar 232022 Q4 Earnings call transcript