Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Q3 2024 Earnings Presentation
23 slides from Collegium Pharmaceutical's earnings presentation, Nov 7, 2024
Slide 1: Q3'24 Earnings Report
Q3’24 Earnings Report November 7, 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," "anticipates,"
Slide 3: Business Update
Business Update Michael Heffernan, Chairman, Interim President & Chief Executive Officer
Slide 4: 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 5: Building a Leading, Diversified Specialty Pharmaceutical Company
Building a Leading, Diversified Specialty Pharmaceutical Company D E L I V E R O N F I N A N C I A L CO M M I T M E N T S S T R AT E G I C A L LY D E P LOY C A P I TA L Maximize Pain Portfolio Integrating and Maximizing Jornay PM >$100M in Jornay PM net revenue expected in 2024 Record Q3’24 Pain Por
Slide 6: Vikram Karnani Appointed as CEO
Vikram Karnani Appointed as CEO Proven Industry Leader with Extensive Experience Growing Commercial Biopharmaceutical Businesses EVP, President, Global Commercial Operations and Medical Affairs responsible for leading Amgen’s Rare Disease business Nearly a decade at Horizon Therapeutics holding nume
Slide 7: Recent Business Highlights
Recent Business Highlights • Record product revenues, net: $159.3M, up 17% YoY Delivered strong Q3’24 • Adjusted operating expenses: $34.8M, up 23% YoY2 financial performance1 • Record adjusted EBITDA: $105.1M, up 18% YoY2 • Grew Q3’24 Belbuca® prescriptions 3.5% YoY and 2.6% QoQ3; generated record
Slide 8: Commercial Update
Commercial Update Scott Dreyer, Executive Vice President & Chief Commercial Officer
Slide 9: Jornay PM Poised for Rapid Growth in the ADHD Market
Jornay PM Poised for Rapid Growth in the ADHD Market L A R G E A N D E X PA N D I N G A D H D STRONG AND GROWING PRESCRIBER BASE1 MARKET +25% 21.4K 22.6K 20.7K +5% 18.1K 19.3K 15.7K 17.0K CAGR in total ADHD prescriptions from 2019-2023 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 S I G N I F I C A N T
Slide 10: Well Positioned to Grow Belbuca Prescriptions and Revenue in 2024
Well Positioned to Grow Belbuca Prescriptions and Revenue in 2024 Increasing momentum for Belbuca in Q3’24 A CC E L E R AT I O N I N AV E R A G E STRONG BRAND COMMERCIAL W E E K LY P R E S C R I P T I O N S 1 F U N D A M E N TA L S PRIORITIES +6.7% 9.6K 9.1K 9.3K #1 highest rated branded ER opioid i
Slide 11: Xtampza ER Poised to Grow Revenue in 2024
Xtampza ER Poised to Grow Revenue in 2024 S U C C E S S F U L LY STRONG BRAND COMMERCIAL MANAGING GTN F U N D A M E N TA L S & M A R K E T PRIORITIES ACCESS POSITION 50.8% #1 highest rated ER oxycodone in terms of product differentiation and Reinforce clinical differentiation favorability1 Pull thro
Slide 12: Pain Portfolio Contracting Strategy Fuels Revenue Growth
Pain Portfolio Contracting Strategy Fuels Revenue Growth ACHIEVE BROAD COVERAGE E N H A N C E P R O F I TA B I L I T Y Belbuca and Xtampza ER added to formulary Belbuca and Xtampza ER removed from representing ~8M commercial and ~2M Medicare formulary with no rebate in Medicare Part D plan Part D co
Slide 13: Financial Highlights
Financial Highlights Colleen Tupper, Executive Vice President & Chief Financial Officer
Slide 14: Q3'24 Financial Highlights
Q3’24 Financial Highlights1 Record Product Revenues, Net Adjusted Operating Record Adjusted EBITDA2 Expenses2 +17% $159.3M $136.7M +18% $105.1M $89.4M +23% $34.8M $28.3M Q3'23 Q3'24 Q3'23 Q3'24 Q3'23 Q3'24 1. This financial data was provided by Collegium in its Form 8-K and/or its Form 10-Q filed wi
Slide 15: Reaffirming 2024 Financial Guidance
Reaffirming 2024 Financial Guidance1 3 Product Revenues, Net Adjusted Operating Expenses3 Adjusted EBITDA +11%2 $620.0 – 635.0M $566.8M +9%2 $395.0 – 405.0M $367.0M +23%2 $150.0 – 155.0M $123.6M 2023 2024E 2023 2024E 2023 2024E 1. This financial data was provided by Collegium in its press release fi
Slide 16: Disciplined Capital Deployment
Disciplined Capital Deployment Execute on Business Development • Strong track record of successful business development which added Nucynta Franchise and Belbuca to become leader in responsible pain management • Recent acquisition of Ironshore establishes commercial presence in neurology (ADHD), div
Slide 17: Creating Long-Term Value Through Operational Execution
Creating Long-Term Value Through Operational Execution DELIVER ON Financial commitments of top- and bottom-line growth: • Achieve record revenue, adjusted EBITDA and net income Creating value for • Generate record free cash flow shareholders by: EXECUTE ON ✓ Growing revenue Integration of Ironshore:
Slide 18: Closing Remarks
Closing Remarks Michael Heffernan, Chairman, Interim President & Chief Executive Officer
Slide 19: Q&A
Q&A
Slide 20: Non-GAAP Reconciliations
Non-GAAP Reconciliations
Slide 21: Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA (in thousands) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 GAAP net income $ 9,335 $ 20,634 $ 56,654 $ 16,215 Adjustments: Interest expense 18,394 20,768 51
Slide 22: Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses (in thousands) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 GAAP operating expenses $ 61,955 $ 35,298 $ 147,272 $ 126,266 Adjustments: Stock-bas
Slide 23: Reconciliation of GAAP Net Income to Adjusted Net Income and Adjusted EPS
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income and Adjusted Earnings Per Share (in thousands, except share and per share amounts) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 GAAP net income $ 9,335 $
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