H.C. Wainwright has maintained its Buy rating for Assertio Therapeutics (NASDAQ: ASRT), setting a price target of $4.00, indicating a significant upside potential for the company. This endorsement comes in the wake of Assertio Holdings' announcement of clinical trial results for ROLVEDON (eflapegrastim-xnst) injection, aimed at treating early-stage breast cancer (ESBC) with same-day dosing alongside chemotherapy.
The clinical trial, known as NCT04187898, was an open-label, single-arm study conducted across 13 U.S. sites. Participants received ROLVEDON 30 minutes post-chemotherapy, resulting in a neutrophil count recovery time of 1.8 days and a febrile neutropenia rate of 2%. Notably, the trial reported no hospitalizations or interventions for febrile neutropenia and identified no new safety concerns.
Presented at the San Antonio Breast Cancer Symposium (SABCS), the findings underscored ROLVEDON's efficacy and safety profile, aligning with expectations and highlighting its potential benefits within the granulocyte colony-stimulating factor (G-CSF) drug class. The convenience and dosing flexibility of ROLVEDON, particularly its same-day dosing capability, were emphasized as key commercial differentiators.
Assertio Therapeutics also showcased strong financial health, with a gross profit margin of 70% and a current ratio of 2.01, as per InvestingPro data. The company's third-quarter financial results for 2024 revealed revenues of $29.2 million and a net loss of $0.03 per share, surpassing analysts' expectations and reflecting improved gross margins of 74%.
In addition to these developments, Assertio Holdings announced leadership changes, with Heather Mason appointed as the new Chairwoman of the Board. These updates mark significant progress in Assertio Therapeutics' ongoing efforts to advance cancer treatment and strengthen its financial and leadership foundations.
