Brief: Assertio Holdings Signs Exclusive License For Sympazan Oral Film From Aquestive Therapeutics

Aquestive Therapeutics

27/10/2022 16:18

Oct 27 (Reuters) - Assertio Holdings Inc  ASRT.O :
    * ASSERTIO HOLDINGS, INC. SIGNS EXCLUSIVE LICENSE FOR
SYMPAZAN®
(CLOBAZAM) ORAL FILM FROM AQUESTIVE THERAPEUTICS, INC.
    * ASSERTIO HOLDINGS INC - TRAILING 12 MONTH REVENUES OF
SYMPAZAN
WERE $9.5 MILLION ASSERTIO PAID $9.0 MILLION UPFRONT, ADDITIONAL
$6.0 MILLION UPON PATENT ALLOWANCE
    * ASSERTIO HOLDINGS INC - TRANSACTION WAS MADE THROUGH A
SUBSIDIARY OF COMPANY
    * ASSERTIO HOLDINGS - UNDER AGREEMENT, CO ACQUIRED EXCLUSIVE
LICENSE FOR SYMPAZAN INTELLECTUAL PROPERTY FROM AQUESTIVE FOR
UPFRONT PAYMENT OF $9.0 MILLION
    * ASSERTIO HOLDINGS INC - ALSO ENTERED INTO A LONG-TERM
SUPPLY
AGREEMENT WITH AQUESTIVE FOR SYMPAZAN
    * ASSERTIO HOLDINGS INC - AQUESTIVE WILL CONTINUE TO
PROSECUTE AN
EXISTING PATENT APPLICATION THAT COULD EXTEND PATENT COVERAGE TO
AS LATE AS 2039
    * ASSERTIO HOLDINGS - UPON PATENT ALLOWANCE, WHICH CO
BELIEVES
WILL OCCUR IN 2023, CO WILL PAY A $6.0 MILLION MILESTONE PAYMENT
AND ROYALTIES TO AQUESTIVE
    * ASSERTIO HOLDINGS INC - WILL PROVIDE EXPECTED CONTRIBUTION
FROM
SYMPAZAN AND AN UPDATE ON ITS 2022
    * ASSERTIO HOLDINGS - ON FULL YEAR BASIS, CO EXPECTS
SYMPAZAN WILL
ADD $4.0 - $4.5 MILLION IN ADJUSTED EBITDA AND $0.05 IN ADJUSTED
EPS ON A FULLY DILUTED BASIS

Source text for Eikon:  ID:nGNX8rDCsY 
Further company coverage:  ASRT.O 
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