Business
Collegium Reports First Quarter 2020 Profitability
– Achieves GAAP Profitability with $0.5 Million in Net Income in the First Quarter of 2020 – – Non-GAAP Net Income of $31.2 Million in the First Quarter of
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"– Achieves GAAP Profitability with $0.5 Million in Net Income in the First Quarter of 2020 –\n – Non-GAAP Net Income of $31.2 Million in the First Quarter of 2020 – – Xtampza® ER Prescriptions Grew 30% Over the First Quarter of 2019 – – Collegium Updates 2020 Guidance to Reflect COVID-19 Impact – – Conference Call Scheduled for Today at 4:30 p.m. ET – STOUGHTON, Mass., May 07, 2020 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a specialty pharmaceutical company committed to being the leader in responsible pain management, today reported its financial results for the first quarter ended March 31, 2020 and provided a corporate update. “The COVID-19 pandemic presents complex challenges to individuals, organizations and communities across the world. At Collegium, we are committed to keeping our employees safe, reliably supplying our medicines and supporting our customers and the communities we serve,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “Despite the unprecedented times we all face, we continue to make progress towards our mission of becoming the leader in responsible pain management. I am honored and humbled to work alongside our dedicated employees who are committed to making a difference in the lives of people suffering from pain.” “In the first quarter of 2020 Collegium achieved profitability, driven by Xtampza ER revenue growth and the closing of the Nucynta franchise acquisition,” commented Paul Brannelly, Executive Vice President and Chief Financial Officer of Collegium. “Despite the impacts of COVID-19, we expect 2020 will be financially transformative for Collegium, with a focus on profitability, cash generation and debt repayment.” Recent Business Highlights Xtampza ER total prescriptions grew to 136,736 for the quarter ended March 31, 2020 (the “2020 Quarter”), representing a 30% increase over the quarter ended March 31, 2019 (the “2019 Quarter”) and a 10.2% increase over the fourth quarter of 2019.Xtampza ER market share of the oxycodone extended-release market was 21.8% in the 2020 Quarter, up from 18.5% in the fourth quarter of 2019.The number of unique prescribers grew to 14,600 in the 2020 Quarter, a 9.5% increase over the fourth quarter of 2019.In the 2020 Quarter, two new patents covering Xtampza ER were added to the FDA Orange Book. With these recent additions...