Business
Collegium Announces Fourth Quarter and Full Year 2022 Preliminary Financial Results
-Results at or above high-end of 2022 earnings guidance- -Final fourth quarter and full year 2022 financial results to be announced after market closes on
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"-Results at or above high-end of 2022 earnings guidance- -Final fourth quarter and full year 2022 financial results to be announced after market closes on Thursday, February 23- STOUGHTON, Mass., Feb. 06, 2023 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a leading, diversified specialty pharmaceutical company, today announced preliminary, unaudited financial results for the fourth quarter and full year ended December 31, 2022. “2022 was a pivotal year for Collegium Pharmaceutical. We estimate fourth quarter and full year 2022 GAAP operating expenses in the range of $38.4 million to $43.4 million and in the range of $176.5 million to $181.5 million, respectively, and we estimate fourth quarter and full year 2022 product revenues, adjusted operating expenses and adjusted EBITDA at or above the high-end of 2022 earnings guidance,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “We look forward to providing full year 2022 results on our fourth quarter earnings call.” Fourth Quarter and Full Year 2022 Preliminary Results For the fiscal year ended December 31, 2022, we currently estimate: Product revenues in the range of $460.0 million to $462.5 million;GAAP operating expenses in the range of $176.5 million to $181.5 million and adjusted operating expenses in the range of $122.0 million to $124.5 million; andAdjusted EBITDA in the range of $261.5 million to $264.0 million. For the fourth quarter ended December 31, 2022, we currently estimate: Product revenues in the range of $125.7 million to $128.2 million,GAAP operating expenses in the range of $38.4 million to $43.4 million and adjusted operating expenses in the range of $32.3 million to $34.8 million, andAdjusted EBITDA in the range of $71.9 million to $74.4 million. Preliminary 2022 Financial Results The preliminary, unaudited financial results included in this press release are based on information available as of February 6, 2023 and management's initial review of operations for the fourth quarter and year ended December 31, 2022. They remain subject to change based on management's ongoing review of the fourth-quarter and full year results and are forward-looking statements. We assume no obligation to update these statements. The actual results remain subject to the completion of management’s and our audit committee’s reviews and ou...