Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Investor Presentation (January 2024)
37 slides from Collegium Pharmaceutical's investor presentation, Jan 3, 2024
Slide 1: Investor Presentation January 2024
Investor Presentation January 2024 | Nasdaq: COLL
Slide 2: Forward-Looking Statements
Forward - Looking Statements This presentation contains forward - looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 . We may, in some cases, use terms such as "predicts," "forecasts," "believes," "potential," "proposed," "continue," "estimates," "anticipat
Slide 3: Healthier people. Stronger communities.
Healthier people. Stronger communities. Mission Driven Building a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions. Doing Good As We Do Well Partnering with organizations driving equitable access to STEM education
Slide 4: 2024 Focus: Operational Execution
2024 Focus : Operational Execution
Slide 5: 2024 Priorities: Operational Execution
5 2024 Priorities: Operational Execution Financial Commitments • ACHIEVE record revenue, adjusted EBITDA and net income • GENERATE record free cash flow Deploy Capital • RAPIDLY pay down debt, de - levering on a quarterly basis • OPPORTUNISTICALLY leverage $150M share repurchase program DELIVER ON 5
Slide 6: 2024 Financial Guidance
2024 Financial Guidance 1 $580 – 595 M Up 3.5% YoY 2 Product Revenues, Net $120 – 125 M Down (3.9)% YoY 2 Adjusted Operating Expenses 3 (Excluding Stock - Based Compensation) $380 – 395 M Up 6.9% YoY 2 1. This financial data was provided by Collegium in its press release filed with the SEC on Januar
Slide 7: Disciplined Capital Deployment
Disciplined Capital Deployment 7 1. Adjusted EBITDA is a non - GAAP financial measure. Refer to “Non - GAAP Financial Measures” on slide 2. 2023 net debt/adjusted EBITD A is calculated based on Collegium’s forecast of net debt at year - end 2023, compared to the mid - point of the 2023 guidance rang
Slide 8: Collegium: The Leader in Responsible Pain Management
Collegium: The Leader in Responsible Pain Management
Slide 9: Path to Building a Leading Pain Portfolio
1. ATU (Awareness, Trial, & Usage) Market Research Study, fielded Q4 2022. 2. IQVIA NPA through November 2023 (Belbuca, Xtampza ER, and Nucynta® ER). 9 Path to Building a Leading Pain Portfolio 1990s – 2000s Rise of opioid epidemic in the U.S., marked by sharp increases in prescription opioid overdo
Slide 10: Pain Portfolio Growth Drivers
1. IQVIA NPA through November 2023. 2. IQVIA Xponent through September 2023; approximate quarterly prescriber counts. 10 Pain Portfolio Growth Drivers Expect prescription and revenue growth in 2024 Expect revenue growth in 2024 Strong Market Position 36.6% share of growing buprenorphine market 1 Lar
Slide 11: Well Positioned to Grow Belbuca Prescriptions and Revenue in 2024
11 Well Positioned to Grow Belbuca Prescriptions and Revenue in 2024 #1 highest rated branded ER opioid in terms of product differentiation and favorability 3 74% of surveyed target HCPs plan to increase prescribing 3 In 2023, successfully renegotiated major Medicare Part D plan representing 12% of
Slide 12: Xtampza ER Poised to Grow Revenue in 2024
12 Xtampza ER Poised to Grow Revenue in 2024 Improved GtN Expected to Drive Revenue Growth in 2024 7 7% of renegotiation opportunity maintained position at equal or better rebate 23 % of renegotiation opportunity removed from formulary to parity position with Oxycontin ® with no rebate Plans represe
Slide 13: Nucynta Franchise: Stable Contributor with Mid-Term Outlook
1. 2021 product revenues, net were impacted by a negative $38.3M returns adjustment, including a negative $24.5M returns adju stm ent related to Nucynta. 13 Nucynta Franchise: Stable Contributor with Mid - Term Outlook Bolstered by Regulatory Exclusivity Extension Stable Contributor to the Pain Port
Slide 14: Strong Track Record of Execution and Achieving Financial Commitments
Strong Track Record of Execution and Achieving Financial Commitments
Slide 15: Track Record of Strong Top- and Bottom-Line Growth
15 Track Record of Strong Top - and Bottom - Line Growth 1. This financial data was provided by Collegium in its Annual Report on Form 10 - K filed with the SEC on February 23, 2023. 2. This financial data was provided by Collegium in its press release filed with the SEC on November 7, 2023, and rep
Slide 16: Robust Operating Cash Flow Generation from Pain Portfolio
16 Robust Operating Cash Flow Generation from Pain Portfolio Cash Flows from Operating A ctivities 1. This financial data was provided by Collegium in its Annual Report on Form 10 - K filed with the SEC on February 24, 2022. 2. This financial data was provided by Collegium in its Annual Report on Fo
Slide 17: Disciplined Capital Deployment
Disciplined Capital Deployment
Slide 18: Pharmakon Loan Principal Balance
$650M $575M $413M $229M $46M $0M Mar 2022 2022 YE 2023E YE 2024E YE 2025E YE 2026E YE Pharmakon Loan Principal Balance 1. Adjusted EBITDA is a non - GAAP financial measure. Refer to “Non - GAAP Financial Measures” on slide 2. 2023 net debt/adjusted EBITD A is calculated based on Collegium’s forecast
Slide 19: Opportunistic Share Repurchases
2021 2022 2023 ASR program Open market share repurchases 19 Opportunistic Share Repurchases 1 1. This financial data is calculated from data provided by Collegium in its Annual Report on Form 10 - K filed with the SEC on Februa ry 23, 2023 , in its Quarterly Report on Form 10 - Q filed with the SEC
Slide 20: Track Record of Successful Business Development
$104M $139M $173M $325M 2021 2022 2023E 1. This financial data was provided by Collegium on Form 10 - K filed with the SEC on February 23, 2023. 2. This financial data was provided by Collegium in its press release filed with the SEC on November 7, 2023 and represents t he mid - point of 2023 financ
Slide 21: Strong IP Management
Strong IP Management
Slide 22: Patent Protected Commercial Portfolio
Reflects (i) for Xtampza ER, the September 2033 entry date set forth in Collegium’s settlement agreement with Teva; (ii) for Bel buca, the January 2027 entry date set forth in BDSI’s settlement agreement with Teva; (iii) for the Nucynta Franchise, the New Patient Population exclusivity granted to Nu
Slide 23: Summary
Summary
Slide 24: Creating Long-Term Value Through Operational Execution
24 Creating Long - Term Value Through Operational Execution 24 DELIVER ON Financial commitments of top - and bottom - line growth: • Achieve record revenue, adjusted EBITDA and net income • Generate record free cash flow STRATEGICALLY Deploy capital in a disciplined manner: • Rapidly pay down $183.3
Slide 25: Important Safety Information
Important Safety Information
Slide 26: Important Safety Information about XTAMPZA ER
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and other serious risks at XtampzaER.com/PI . 26 Important Safety Information about XTAMPZA ER (oxycodone) extended - release capsules WARNING: SERIOUS AND LIFE - THREATENING RISKS FROM USE OF XTAMPZA ER Addict
Slide 27: Important Safety Information about XTAMPZA ER
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and other serious risks at XtampzaER.com/PI . 27 Important Safety Information about XTAMPZA ER (oxycodone) extended - release capsules Opioid Analgesic Risk Evaluation and Mitigation Strategy (REMS) Healthcare
Slide 28: Important Safety Information about BELBUCA
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and Other Serious Risks at Belbuca.com/#isi - block . 28 Important Safety Information about BELBUCA (buprenorphine buccal film) WARNING: SERIOUS AND LIFE - THREATENING RISKS FROM USE OF BELBUCA Addiction, Abuse
Slide 29: Important Safety Information about NUCYNTA ER
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and other serious risks at Nucynta.com/erPI . 29 Important Safety Information about NUCYNTA ER (tapentadol) extended - release tablets WARNING: SERIOUS AND LIFE - THREATENING RISKS FROM USE OF NUCYNTA ER Addict
Slide 30: Important Safety Information about NUCYNTA ER
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and other serious risks at Nucynta.com/erPI . 30 Important Safety Information about NUCYNTA ER (tapentadol) extended - release tablets Neonatal Opioid Withdrawal Syndrome If opioid use is required for an extend
Slide 31: Important Safety Information about NUCYNTA
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse and other serious risks at Nucynta.com/irPI . 31 Important Safety Information about NUCYNTA (Tapentadol) tablets WARNING: SERIOUS AND LIFE - THREATENING RISKS FROM USE OF NUCYNTA TABLETS Addiction, Abuse, and Mi
Slide 32: Important Safety Information about SYMPROIC
See full prescribing Information and other s erious risks at Symproic.com/#isi . 32 Important Safety Information about SYMPROIC (naldemedine) tablets SYMPROIC may cause serious side effects, including: • Tear in your stomach or intestinal wall (perforation). Stomach pain that is severe can be a sign
Slide 33: Important Safety Information about SYMPROIC
See full prescribing Information and other s erious risks at Symproic.com/#isi . 33 Important Safety Information about SYMPROIC ( naldemedine ) tablets INDICATIONS AND USAGE SYMPROIC is indicated for the treatment of opioid - induced constipation (OIC) in adult patients with chronic non - cancer pai
Slide 34: Important Safety Information about SYMPROIC
See full prescribing Information and other s erious risks at Symproic.com/#isi . 34 Important Safety Information about SYMPROIC ( naldemedine ) tablets USE IN SPECIFIC POPULATIONS Pregnancy : There are no available data with Naldemedine in pregnant women to inform a drug - associated risk of major b
Slide 35: Non-GAAP Reconciliations
Non - GAAP Reconciliations
Slide 36: Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA (in thousands) (unaudited) 36 GAAP net (loss) income $ (25,002) $ 71,517 Adjustments: Interest expense 63,213 21,014 Interest income (1,047) (12) Benefit from income taxes (3,845) (74,891) Depreciation 2,684 1
Slide 37: Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses (in thousands) (unaudited) 37 GAAP operating expenses $ 176,169 $ 132,989 Adjustments: Stock-based compensation 22,874 24,255 Restructuring — 4,578 Litigation settlements — 2,935 Acquisition relat
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