MergerMay 8, 2026, 04:18 PM
Assertio to be Acquired by Garda Therapeutics for $21.80/Share
AI Summary
Assertio Holdings, Inc. announced an amended merger agreement to be acquired by Garda Therapeutics, Inc. for $21.80 per share in cash, an increase from the initial $18.00 per share offer. Concurrently, the company completed an asset sale of several product franchises to Cosette Pharmaceuticals, Inc. for $35.0 million. For Q1 2026, Assertio reported a significant decrease in total revenues to $9.933 million and an increased net loss of $(18.856) million, largely due to the timing of ROLVEDON sales, but saw a positive shift in net cash from operating activities.
Key Highlights
- Assertio to be acquired by Garda Therapeutics for $21.80 per share in cash.
- Sold INDOCIN, SPRIX, Sympazan, CAMBIA, Zipsor, Otrexup franchises for $35.0M cash.
- Total revenues decreased to $9.933M in Q1 2026 from $26.488M in Q1 2025.
- Net loss increased to $(18.856)M in Q1 2026 from $(13.541)M in Q1 2025.
- Net cash from operating activities was $8.563M in Q1 2026, up from $(12.538)M in Q1 2025.
- Cash and cash equivalents increased to $33.713M at March 31, 2026.
- ROLVEDON product sales were $0.493M in Q1 2026, down from $13.121M in Q1 2025.
- Company is involved in several ongoing stockholder class action and derivative lawsuits.