Business
Collegium Reports Net Income of $8.1 Million in the Second Quarter of 2020
– Non-GAAP Net Income of $33.2 Million in the Second Quarter of 2020 – – Generated $43.9 Million in Cash from Operating Activities in the Second Quarter of
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"– Non-GAAP Net Income of $33.2 Million in the Second Quarter of 2020 –\n – Generated $43.9 Million in Cash from Operating Activities in the Second Quarter of 2020 – – Xtampza ® ER Net Revenue Increased 29% over the Prior Year Period – – Conference Call Scheduled for Today at 4:30 p.m. ET – STOUGHTON, Mass., Aug. 05, 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 second quarter ended June 30, 2020 and provided a corporate update. “Collegium delivered strong financial results in the second quarter of 2020, which is a testament to the resilience and adaptability of our people and operations,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “We made progress towards achieving each of our key business objectives, while prioritizing the health and safety of our people, customers and communities. Xtampza ER revenue growth and the impact of the Nucynta acquisition generated meaningful cashflow from operations, enabling us to begin to pay down debt, and setting the stage for 2020 to be a financially transformative year for Collegium.” Recent Business Highlights Xtampza ER total prescriptions grew to 141,678 for the quarter ended June 30, 2020 (the “2020 Quarter”), representing a 22% increase over the quarter ended June 30, 2019 (the “2019 Quarter”) and a 4% increase over the first quarter of 2020.Xtampza ER market share of the oxycodone extended-release market was 23.5% in the 2020 Quarter, up from 21.8% in the first quarter of 2020.In the 2020 Quarter, two new formulation patents covering Xtampza ER were added to the FDA Orange Book, one with an expiry in 2030 and one with an expiry in 2036. With these recent additions to the patent estate, Xtampza ER is now covered by 19 Orange Book-listed patents.A manuscript describing certain real-world evidence with respect to abuse, misuse, and diversion of Xtampza ER was recently accepted for publication in Pain Medicine, the Journal of the American Academy of Pain Medicine.Nucynta® ER market share of the branded extended-release market grew to 6.2% in the 2020 Quarter, up from 6.1% in the first quarter of 2020. This represents five consecutive quarters in which market share was stable or growing. Financial Re...