Business
Collegium Reports Second Quarter 2024 Financial Results
– Generated Q2’24 Net Revenue of $145.3 Million and Record Belbuca® Revenue of $52.2 Million, Up 7% and 21% Year-over-Year, Respectively – – Achieved Q2’24
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"– Generated Q2’24 Net Revenue of $145.3 Million and Record Belbuca® Revenue of $52.2 Million, Up 7% and 21% Year-over-Year, Respectively – – Achieved Q2’24 GAAP Net Income of $19.6 Million, Up 51% Year-over-Year – – Delivered Q2’24 Adjusted EBITDA of $96.0 Million, Up 12% Year-over-Year – – On Track to Close Acquisition of Ironshore Therapeutics in Q3’24, Adding Commercial Product Jornay PM® to Portfolio and Establishing Presence in Neurology (ADHD) – – Reaffirmed Full-Year 2024 Guidance for the Current Business – – Conference Call Scheduled for Today at 4:30 p.m. ET – STOUGHTON, Mass., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions, today reported its financial results for the quarter ended June 30, 2024, and provided a corporate update. “Driven by strong operational execution, Collegium delivered robust results in the first half of the year across our pain portfolio. We continue to take actions to maximize the value of our pain portfolio through 2025 and beyond, including entering into an authorized generic agreement with Hikma Pharmaceuticals and securing the six-month pediatric exclusivity extension for the Nucynta Franchise,” said Michael Heffernan, Chairman and Interim President and Chief Executive Officer of Collegium. “Through the proposed acquisition of Ironshore, we are expanding our commercial presence into the large and growing ADHD market with Jornay PM, which is poised to become our leading growth driver. This acquisition meets all our strategic objectives and is expected to be immediately accretive upon closing. In the second half of 2024, we will be focusing on delivering both top- and bottom-line growth and closing and seamlessly integrating the Ironshore acquisition.” “Record Belbuca revenue and disciplined expense management resulted in strong second quarter financial results, including a significant increase to our bottom-line,” said Colleen Tupper, Chief Financial Officer of Collegium. “Year-to-date, we have generated robust operating cash flows while executing on our capital deployment strategy, including the proposed acquisition of Ironshore, redemption of the remaining $26.4 million principal of our 2026 senior convertible notes and the...