Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Q2 2021 Earnings Presentation
20 slides from Collegium Pharmaceutical's earnings presentation, Aug 5, 2021
Slide 1: Collegium Pharmaceutical, Inc. Q2 2021 Earnings Report
Collegium Pharmaceutical, Inc. Q2 2021 Earnings Report August 5, 2021 1
Slide 2: Forward-Looking Statements and use of Non-GAAP Financial Measures
Forward‐Looking Statements and use of Non‐GAAP Financial Measures 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," "
Slide 3: Business Highlights
Business Highlights Joe Ciaffoni, President & CEO 3
Slide 4: We are committed to being the leader in responsible pain management
We are committed to being the leader in responsible pain management We are a mission‐driven organization with an unwavering commitment to people living with pain and the communities we serve 4
Slide 5: 2021 Objectives: A Focus on Growth & Value Creation
2021 Objectives: A Focus on Growth & Value Creation Drive revenue growth Achieve stable profit Leverage current cost from Xtampza® ER contributions from structure, generate cash Nucynta® franchise Deploy balance sheet Seek opportunities to in disciplined manner enhance portfolio long‐term 5
Slide 6: First Half 2021 Key Business Highlights
First Half 2021 Key Business Highlights Record Revenue, Net Income and Adjusted EBITDA Xtampza ER: All‐Time High Market Share and Prescription Growth Nucynta Franchise: >$100 Million in Revenue for the First Time Since 2018 Leveraged Cost Structure Grew Cash on Hand to over $200 Million 6
Slide 7: Deploying Our Balance Sheet in a Disciplined Manner
Deploying Our Balance Sheet in a Disciplined Manner $202.8 Million Cash Balance as of June 30, 20211 Focused on Business Development and Leveraging the Balance Sheet to Return Shareholder Value Business Development Anchored to Diversification in Three Areas: Commercial Stage Non‐Opioid Pain Commerci
Slide 8: Financial Update
Financial Update Colleen Tupper, EVP & CFO 8
Slide 9: Q2 2021 Financial Highlights
Q2 2021 Financial Highlights Net Revenue ($M) OPEX Excluding Stock‐Based Comp. ($M) $87.7 $82.9 $76.5 $78.1 $79.2 $76.3 $29.0 $26.2 $27.5 $27.3 $35.4 $33.0 $23.4 $23.1 $31.5 $33.6 $32.1 $30.8 $45.0 $44.5 $47.1 $45.5 $52.3 $49.9 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 2020 2021 Xtampza Nucynta
Slide 10: Q2 2021 Financial Highlights
Q2 2021 Financial Highlights Cash Balance ($M) Non‐GAAP Adjusted EBITDA ($M)1 $202.8 $182.8 $174.1 $165.4 Closed $45.3 Nucynta® Acquisition $145.7 $41.8 $40.1 Q1’20 $39.1 $38.3 $116.2 $20.5 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Principal Debt Balance ($M) 2020 2021 $343.8 $331.3 $318.8 $306.
Slide 11: 2021 Financial Guidance
2021 Financial Guidance1 Prior Guidance Updated Guidance Xtampza ER Revenues $155.0 to $165.0 million $140.0 to $150.0 million Nucynta Franchise Revenues $185.0 to $195.0 million $195.0 to $205.0 million Total Operating Expenses $125.0 to $135.0 million Reaffirmed (Including Stock‐Based Compensation
Slide 12: Commercial Update
Commercial Update Scott Dreyer, EVP & CCO 12
Slide 13: Xtampza ER Q2 2021 Highlights
Xtampza ER Q2 2021 Highlights Xtampza ER Total Prescriptions1 +7% to ~173,000 Q2’21 vs. Q1’21 Xtampza Oxycodone Extended‐Release Market Share1,3 Xtampza ER Unique Prescribers2 +1% to ~31.5% Q2’21 vs. Q1’21 +5% to ~19,000 Q2’21 vs. Q1’21 Sources: 1. IQVIA Monthly NPA through June 2021 2. IQVIA Monthl
Slide 14: Nucynta Franchise Achieved Stability in Q2 2021
Nucynta Franchise Achieved Stability in Q2 2021 Nucynta Franchise Total Prescriptions1 Nucynta ER Branded ER Market Share1,2 Stable +.5% to ~103,500 Q2’21 vs. Q1’21 5.7% Market Share Q1’21 – Q2’21 Sources: 1. IQVIA Monthly NPA through June 2021 14 2. Quarter‐Ending Share
Slide 15: 2H 2021 Landscape
2H 2021 Landscape Looking to the second half of the year, we expect to see: Xtampza ER COVID‐19 growth, albeit Nucynta dynamics at a moderated Franchise Rx persisting pace vs. stability 1H 2021 15
Slide 16: Q&A
Q&A 16
Slide 17: 2021 Objectives: A Focus on Growth & Value Creation
2021 Objectives: A Focus on Growth & Value Creation Drive revenue growth Achieve stable profit Leverage current cost from Xtampza ER contributions from Nucynta structure, generate cash franchise Deploy balance sheet Seek opportunities to in disciplined manner enhance portfolio long‐term 17
Slide 18: Non-GAAP Reconciliations
Non‐GAAP Reconciliations 18
Slide 19: Non-GAAP Reconciliations
Non‐GAAP Reconciliations Collegium Pharmaceutical, Inc. Reconciliation of GAAP Operating Expenses to Operating Expenses, Excluding Stock-Based Compensation (in thousands) (unaudited) Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 GAAP Operating expenses $ 33,830 31,815 68,
Slide 20: Non-GAAP Reconciliations
Non‐GAAP Reconciliations Collegium Pharmaceutical, Inc. Reconciliation of GAAP Net Income to Adjusted EBITDA (in thousands) (unaudited) Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 GAAP net income $ 72,843 $ 8,058 $ 88,505 $ 8,508 Adjustments: Interest expense 5,421 8,25
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