Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Q3 2022 Earnings Presentation
21 slides from Collegium Pharmaceutical's earnings presentation, Nov 3, 2022
Slide 1: Q3FY22 Earnings Report
November 3, 2022 | Nasdaq: COLL Q3FY22 Earnings Report
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: Non-GAAP Financial Measures
Non - GAAP Financial Measures To supplement our financial results presented on a GAAP basis, we have included information about certain non - GAAP financial measures .. We use these non - GAAP financial measures to understand, manage and evaluate our business as we believe they provide additional in
Slide 4: Building a leading, diversified specialty pharmaceutical company
Building a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions I D E A Uphold I ntegrity Embrace D ifferences Encourage E xpression Be A ccountable GUIDED BY OUR CORE VALUES Mission Driven Investor Presentation 4
Slide 5: First Nine Months 2022 Key Business Highlights
First Nine Months 2022 Key Business Highlights Investor Presentation 5 Completed BDSI acquisition Resolved all 27 pending opioid industry - related lawsuits Grew Belbuca ® and Xtampza ® ER market share Renegotiated Xtampza ER contracts Increased run rate synergies target to $85M
Slide 6: Collegium Three-Phase Action Agenda
Collegium 3 - Phase Action Agenda P HASE 1 S EAMLESS I NTEGRATION P HASE 2 G ENERATE M OMENTUM P HASE 3 A CCELERATE 1. Executed with no disruptions to core operations 2. Achieved day one field force readiness 3. Realized majority of targeted run rate synergies 1. Grow Belbuca and Xtampza ER 2. Compl
Slide 7: Business Development Focus
B USINESS D EVELOPMENT F OCUS • Differentiated commercial - stage assets • Peak sales potential >$150M • Exclusivity into 2030s Top Capital Allocation Priority: Business Development S TRONG T RACK R ECORD ✓ Nucynta Franchise (February 2020) ✓ BDSI (March 2022) Investor Presentation 7
Slide 8: Financial Highlights
Financial Highlights Colleen Tupper, Executive Vice President & Chief Financial Officer
Slide 9: Q3FY22 Financial Highlights
9 Q3FY22 Financial Highlights 1. This financial data was provided by Collegium Pharmaceutical, Inc. in its Quarterly Report on Form 10 - Q filed with the SEC on No vember 3, 2022. 2. Adjusted EBITDA is a non - GAAP financial measure. See Non - GAAP Financial Measures on Slide 3. The net debt/adjuste
Slide 10: Updated 2022 Financial Guidance
Updated 2022 Financial Guidance 1 $133M 1. This financial data was provided by Collegium in its press release filed with the SEC on November 3, 2022 2. Adjusted operating expenses is a non - GAAP financial measure .. See Non - GAAP Financial Measures on Slide 3. 3. Adjusted EBITDA is a non - GAAP fi
Slide 11: Capital Allocation Priorities
O PPORTUNISTICALLY R ETURN C APITAL TO S HAREHOLDERS R APIDLY P AYDOWN D EBT F OCUSED B USINESS D EVELOPMENT Capital Allocation Priorities • Commercial - stage assets: • With >$150 million peak sales potential • Differentiated and durable with exclusivity into 2030s • Returned $10M to shareholder in
Slide 12: Commercial Update
Commercial Update Scott Dreyer, Executive Vice President & Chief Commercial Officer
Slide 13: Successfully Completed Xtampza ER Contract Renegotiations
13 Investor Presentation Successfully Completed Xtampza ER Contract Renegotiations OER Formulary Status Plan % Total Prescriptions 2022 2023 Plan 1 27% Exclusive Exclusive Plan 2 15% Exclusive Exclusive Plan 3 2% Exclusive Exclusive Plan 4 4% Parity Parity Plan 5 6% Exclusive Non - formulary 1 Xtamp
Slide 14: Strong and Growing Market Position
50% Branded ER Market Share 1,2 +3% Over Q3FY21 ~9,100 ~19,300 ~13,100 14 The Leader in Responsible Pain Management Investor Presentation Strong and Growing Market Position Sources: 1. IQVIA NPA through September 2022 2. Quarter - ending product share (Belbuca, Xtampza ER, and Nucynta ER) 3. IQVIA E
Slide 15: Three-Phase Action Agenda: Q3FY22 Accomplishments and Looking Ahead
15 Collegium 3 - Phase Action Agenda: Q3FY22 Accomplishments and Looking Ahead Investor Presentation P HASE 2 G ENERATE M OMENTUM 1. Grow Belbuca and Xtampza ER ✓ Fully trained pain salesforce with only active promotion in pain ✓ Laser focused on execution of plan to drive prescription growth 2. Com
Slide 16: Building a Leading, Diversified Specialty Pharmaceutical Company
D IVERSE AND D URABLE P ORTFOLIO S TRONG F INANCIAL P OSITION L ONG - T ERM V ALUE C REATION 16 Building a Leading, Diversified Specialty Pharmaceutical Company → Durable growth drivers → Leader in responsible pain market → FY22 revenue expected to grow ~66% Y/Y 1 → Significant cost leverage: FY22 r
Slide 17: Q&A
Q&A
Slide 18: Quarterly Non-GAAP Reconciliations
Quarterly Non - GAAP Reconciliations
Slide 19: Reconciliation of GAAP Net Income to Adjusted EBITDA
19 Collegium Pharmaceutical, Inc. Reconciliation of GAAP Net Income to Adjusted EBITDA (in thousands) (unaudited) Investor Presentation GAAP Net income (loss) $ 457 $ 8,046 Adjustments: Interest expense 19,046 5,115 Interest income (11) (3) Provision for (benefit from) income taxes 975 991 Depreciat
Slide 20: Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses
20 Collegium Pharmaceutical, Inc. Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses (in thousands) (unaudited) Investor Presentation GAAP Operating expenses $ 38,372 $ 31,964 Adjustments: Stock-based compensation 5,377 5,948 Acquisition related expenses 463 — Total adjustments
Slide 21: Reconciliation of GAAP Net Income to Adjusted Net Income and Adjusted EPS
21 Investor Presentation Collegium Pharmaceutical, Inc. Reconciliation of GAAP Net Income to Adjusted Net Income and Adjusted Earnings Per Share (in thousands, except share and per share amounts) (unaudited) GAAP Net income (loss) $ 457 $ 8,046 Adjustments: Non-cash interest expense 2,467 833 Amorti
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