Business
Collegium Reports Full-Year 2019 Revenue of $296.7 Million
– 2019 Revenue Growth of 6%, Driven by Xtampza ER revenue growth of 51% – – Xtampza® ER Prescriptions Grew 49% in 2019 – – Collegium Guides to Profitability
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"– 2019 Revenue Growth of 6%, Driven by Xtampza ER revenue growth of 51% –\n – Xtampza® ER Prescriptions Grew 49% in 2019 – – Collegium Guides to Profitability in 2020 – – Conference Call Scheduled for Today at 4:30 p.m. ET – STOUGHTON, Mass., Feb. 27, 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 fourth quarter and year ended December 31, 2019 and provided a corporate update. “In 2019 we delivered record revenue and achieved non-GAAP profitability for three consecutive quarters,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “Driven by Xtampza ER growth and the acquisition of the Nucynta Franchise, 2020 will be a financially transformative year for Collegium.” Recent Business Highlights Xtampza ER total prescriptions grew to 124,067 in the fourth quarter of 2019, representing a 37% increase over the fourth quarter of 2018. For the full year, total prescriptions for Xtampza ER grew 49%, reaching 466,378, compared to 313,152 total prescriptions in 2018. The Company secured 20 new exclusive ER oxycodone formulary wins covering more than 35 million lives for Xtampza ER, which took effect January 1, 2020. With these wins, Collegium is the exclusive ER oxycodone for approximately 40% of Commercial and Part D covered lives. Xtampza ER continues to have broad-based coverage, including 95% coverage of Commercial lives and 50% coverage of Part D lives. The Company announced on February 13, 2020 it closed the acquisition of the U.S. rights to the Nucynta Franchise from Assertio Therapeutics, Inc. Financial Guidance for 2020 The Company reiterates its full-year 2020 financial guidance, initially provided on January 7, 2020: Xtampza ER revenues are expected in the range of $150.0 million to $160.0 million.Nucynta Franchise revenues are expected in the range of $170.0 million to $180.0 million.Total operating expenses are expected in the range of $130.0 million to $140.0 million. In addition, the Company provides the following full-year 2020 financial guidance: Non-GAAP adjusted income is expected in the range of $125.0 million to $140.0 million Financial Results for Quarter Ended December 31, 2019 Xtampza ER net product revenues were $27.4 million for ...