Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Investor Presentation (January 2023)
35 slides from Collegium Pharmaceutical's investor presentation, Jan 4, 2023
Slide 1: Investor Presentation January 2023
Investor Presentation January 2023 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," "anticipa
Slide 3: Mission Driven and Core Values
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. Guided by Our Core Values Uphold Integrity Embrace Differences Encourage Expression Be Accountabl
Slide 4: Committed to Sustainability, Social Impact and Ethical Governance
4 Committed to Sustainability, Social Impact and Ethical Governance Planning Inaugural ESG Report Publication in First Quarter 2023 E nvironmental Be a responsible steward of the environment • Focusing on identifying and mitigating manufacturing inefficiencies • Evaluating greenhouse gas emissions r
Slide 5: Building a Leading, Diversified Specialty Pharmaceutical Company
5 Building a Leading, Diversified Specialty Pharmaceutical Company Strong Financial Position • Durable revenue with targeted growth opportunities • Positioned to grow adjusted EBITDA at >1.5x revenue and >4x adjusted operating expenses in 2023 1 • Strong, growing cash generation • Healthy balance sh
Slide 6: The Collegium Story
The Collegium Story 2002 Collegium formed to address opioid epidemic through development of prescription pain treatments with abuse - deterrent properties Collegium’s first product, Xtampza ER, FDA approved Formulated with DETERx ® , a proprietary abuse - deterrent technology, designed to deter comm
Slide 7: Collegium's Operational Excellence in 2022
Collegium’s Operational Excellence in 2022 2022 Financial Guidance 4 • Product revenues, net: $455 - 465M • Adjusted operating expenses: $125 - 130M 1 • Adjusted EBITDA: $250 - 255M 1 Improving Operating Margins • Recognize targeted run rate BDSI synergies of ~$85 million • Grow adjusted EBITDA • Ma
Slide 8: 2023 To Be A Banner Year
$118M $253M $363M 2021 2022E 2023E Adjusted EBITDA 3 1 $277M $460M $573M 2021 2022E 2023E Product Revenues, Net 8 2023 To Be A Banner Year 1 2 2 1. This financial data was provided by Collegium in its press release filed with the SEC on November 3, 2022 and represents the mid - point of 2022 guidanc
Slide 9: Strategy for a Banner 2023
Strategy for a Banner 2023 • Generate strong cash flow from pain portfolio through commercial execution and leveraging cost structure • Grow Belbuca and Xtampza ER market share • Maximize Nucynta Franchise and Symproic • Conduct business development focused on commercial - stage, durable assets • Ra
Slide 10: Action Agenda Phase 3: Accelerate Top- and Bottom-Line
Action Agenda Phase 3: Accelerate Top - and Bottom - Line Phase 1 (03/22/22 – 06/30/22) Seamless Integration 1. Executed with no disruptions to core operations 2. Achieved day one field force readiness 3. Realized majority of targeted run rate synergies Phase 2 (07/01/22 – 12/31/22) Generate Momentu
Slide 11: Leading Pain Portfolio Spans the Continuum of Care
Sources: 1. IQVIA NPA, November 2022 (Belbuca, Xtampza ER, and Nucynta ® ER). 11 Leading Pain Portfolio Spans the Continuum of Care Acute Chronic Collegium’s portfolio holds 50% market share of the branded ER market 1 • Immediate - release formulation of tapentadol • Extended - release buprenorphine
Slide 12: Xtampza ER and Belbuca: Strong and Growing Market Position
Sources: 1. IQVIA NPA through November 2022. 2. IQVIA Xponent through September 2022. 12 Xtampza ER and Belbuca: Strong and Growing Market Position Strong Market Position Growing Prescriber Base GtN Impacts Market Access 35.6% share of OER market 1 ~19,300 unique prescribers in Q3 2022, up 0.2% Q3’2
Slide 13: Xtampza ER GtN Successfully Renegotiated to Less than 65%
Xtampza ER GtN Successfully Renegotiated to Less than 65% 54% of Xtampza ER Prescriptions Plans representing 54% of Xtampza ER prescriptions successfully renegotiated to support GtN of 61 - 63% in 2023 90% of the Current Prescription Base ~90% of the renegotiated contracts will maintain Xtampza ER a
Slide 14: Maximizing the Value of Nucynta Franchise and Symproic
Focused on Maximizing the Value of Nucynta Franchise and Symproic Sources: 1. Nucynta Full Prescribing Information, 2022. 2. Nucynta ER Full Prescribing Information, 2022. 3. IQVIA Xponent through October 2022. 4. Crockett SD, et al. Gastroenterology. 2019;156(1): 218 - 226. 14 • Differentiated opio
Slide 15: 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, and based on the judgment upholding its Orange - Boo
Slide 16: Rapid Debt Pay-Down
1. Adjusted EBITDA is a non - GAAP financial measure. See Non - GAAP Financial Measures on Slide 2. The 2022 and 2023 net debt/adjusted EBITDA ratios are calculated based on financial data provided by Collegium on Form 10 - Q filed with the SEC on November 3, 2022 compared to the mid - point of the
Slide 17: Business Development is Top Capital Allocation Priority
$104M $104M $173M $230M 2021 9 Mos. 2022 Product Revenues, Net $334M 2021 9 Mos. 2022 Adjusted EBITDA 2 Business Development is Top Capital Allocation Priority Strong Track Record of Successful Business Development • Expanded top - and bottom - line with Nucynta Franchise (February 2020) and BDSI (M
Slide 18: 2023 Financial Guidance
1. This financial data was provided by Collegium in its press release filed with the SEC on January 4, 2023. 2. Adjusted operating expenses is a non - GAAP financial measure. See Non - GAAP Financial Measures on Slide 2. 3. Adjusted EBITDA is a non - GAAP financial measure. See Non - GAAP Financial
Slide 19: Experienced Management Team and Board of Directors
19 Experienced Management Team and Board of Directors Colleen Tupper EVP & Chief Financial Officer Joseph Ciaffoni President, CEO & Board Member Thomas Smith, M.D., FAAFP EVP & Chief Medical Officer Scott Dreyer EVP & Chief Commercial Officer Scott Sudduth EVP & Head of Technical Operations Shirley
Slide 20: Building a Leading, Diversified Specialty Pharmaceutical Company
20 Building a Leading, Diversified Specialty Pharmaceutical Company Strong Financial Position • Durable revenue with targeted growth opportunities • Positioned to grow adjusted EBITDA at >1.5x revenue and >4x adjusted operating expenses in 2023 1 • Strong, growing cash generation • Healthy balance s
Slide 21: Important Safety Information
Important Safety Information
Slide 22: 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 .. 22 Important Safety Information about XTAMPZA ER (oxycodone) extended - release capsules WARNING: ADDICTION, ABUSE, AND MISUSE; RISK EVALUATION AND MITIGATION STRA
Slide 23: Important Safety Information about Xtampza ER (continued)
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and other serious risks at XtampzaER.com/PI .. 23 Important Safety Information about XTAMPZA ER (oxycodone) extended - release capsules Accidental Ingestion Accidental ingestion of even one dose of Xtampza ER,
Slide 24: 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 .. 24 Important Safety Information about BELBUCA (buprenorphine buccal film) WARNING: ADDICTION, ABUSE, AND MISUSE; RISK EVALUATION AND MITIGATION STRATEGY (R
Slide 25: Important Safety Information about Belbuca (continued)
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and Other Serious Risks at Belbuca.com/#isi - block .. 25 Important Safety Information about BELBUCA (buprenorphine buccal film) Neonatal Opioid Withdrawal Syndrome Prolonged use of BELBUCA during pregnancy can
Slide 26: 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 .. 26 Important Safety Information about NUCYNTA ER (tapentadol) extended - release tablets WARNING: ADDICTION, ABUSE, AND MISUSE; RISK EVALUATION AND MITIGATION STRA
Slide 27: Important Safety Information about Nucynta ER (continued)
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and other serious risks at Nucynta.com/ erPI .. 27 Important Safety Information about NUCYNTA ER (tapentadol) extended - release tablets Neonatal Opioid Withdrawal Syndrome Prolonged use of NUCYNTA ER during pr
Slide 28: 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 .. 28 Important Safety Information about NUCYNTA (Tapentadol) tablets WARNING: ADDICTION, ABUSE, AND MISUSE; RISK EVALUATION AND MITIGATION STRATEGY (REMS); LIFE - TH
Slide 29: Important Safety Information about Nucynta (continued)
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse and other serious risks at Nucynta.com/ irPI .. 29 Important Safety Information about NUCYNTA (Tapentadol) tablets Neonatal Opioid Withdrawal Syndrome Prolonged use of NUCYNTA tablets during pregnancy can result
Slide 30: Important Safety Information about Symproic
See full prescribing Information and other s erious risks at Symproic.com/#isi .. 30 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 s
Slide 31: Important Safety Information about Symproic (indications and warnings)
See full prescribing Information and other s erious risks at Symproic.com/#isi .. 31 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 pa
Slide 32: Important Safety Information about Symproic (specific populations)
See full prescribing Information and other s erious risks at Symproic.com/#isi .. 32 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
Slide 33: Non-GAAP Reconciliations
Non - GAAP Reconciliations
Slide 34: Reconciliation of GAAP Net Income to Adjusted EBITDA
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Net Income to Adjusted EBITDA (in thousands) (unaudited) 34 GAAP Net (loss) income $ (17,803) $ 71,517 Adjustments: Interest expense 42,638 21,014 Interest income (20) (12) Benefit from income taxes (3,253) (74,891) Depreciation 1,859 1,736 Amort
Slide 35: Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses (in thousands) (unaudited) 35 GAAP Operating expenses $ 138,137 $ 132,989 Adjustments: Stock-based compensation 17,204 24,255 Acquisition related expenses 31,209 — Restructuring — 4,578 Litigation
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