Business
Collegium Reports Strong Q2 Results with Cash Balance Growing to Over $200 Million
– Xtampza® ER Market Share Grew to 31.5% of the Oxycodone Extended-Release Market in June 2021 – – Net Income of $72.8 Million and Adjusted EBITDA of $40.1
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"– Xtampza® ER Market Share Grew to 31.5% of the Oxycodone Extended-Release Market in June 2021 – – Net Income of $72.8 Million and Adjusted EBITDA of $40.1 Million – – Full-Year 2021 Product Revenue Guidance Updated – – Conference Call Scheduled for Today at 4:30 p.m. ET – STOUGHTON, Mass., Aug. 05, 2021 (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, 2021 and provided a corporate update. “Collegium made meaningful progress against our corporate objectives in the second quarter, delivering strong financial results, driven by the underlying strength of our differentiated pain portfolio,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “The organization is in a phase of growth and value creation, and we are committed to delivering on our mission of being the leader in responsible pain management, while executing against our strategic priorities for the remainder of 2021.” “In the second quarter, we generated significant cash flows and continued to leverage our cost structure,” said Colleen Tupper, Chief Financial Officer of Collegium. “Today, based on the ongoing impact of COVID-19 and portfolio gross-to-net dynamics, we are adjusting our revenue guidance for Xtampza ER and the Nucynta Franchise. Collegium remains in a strong financial position, and we are focused on investing in the long-term growth of our business and creating value for shareholders.” Recent Business Highlights Colleen Tupper was appointed Executive Vice President and Chief Financial Officer, effective May 24, 2021.Xtampza ER was the fastest growing Branded ER product with prescriptions growing 6.9% over the first quarter of 2021 and 21.7% over the second quarter of 2020. Xtampza ER market share grew to 31.5% of the oxycodone extended-release market in June of 2021, up from 30.6% in March 2021. Nucynta® Franchise prescriptions grew 0.5% over the first quarter of 2021. Nucynta ER Branded ER market share was stable compared to the first quarter of 2021. The Company sponsored a publication titled, “Nonmedical Use of Xtampza ER and Other Oxycodone Medications in Adults Evaluated for Substance Abuse Treatment: Real-world Data from the Addiction Severity Ind...