Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Q2 2024 Earnings Presentation
23 slides from Collegium Pharmaceutical's earnings presentation, Aug 8, 2024
Slide 1: Q2'24 Earnings Report
Q2’24 Earnings Report August 8, 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 Capital Deployment Priorities • Conduct disciplined business development focused on commercial-stage, durab
Slide 6: Business and Financial Highlights
Business and Financial Highlights Colleen Tupper, Executive Vice President & Chief Financial Officer
Slide 7: Recent Business Highlights
Recent Business Highlights • Product revenues, net: $145.3M, up 7% YoY Delivered strong Q2’24 • Adjusted operating expenses: $30.3M, down (3)% YoY2 financial performance1 • Adjusted EBITDA: $96.0M, up 12% YoY2 • Grew Q2’24 Belbuca® prescriptions 2.1% YoY and 1.4% QoQ3; generated record Belbuca reven
Slide 8: Q2'24 Financial Highlights
Q2’24 Financial Highlights1 Product Revenues, Net Adjusted Operating Adjusted EBITDA2 Expenses2 +7% $145.3M $135.5M +12% $96.0M $85.8M (3)% $31.1M $30.3M Q2'23 Q2'24 Q2'23 Q2'24 Q2'23 Q2'24 1. This financial data was provided by Collegium in its Form 8-K and/or its Form 10-Q filed with the SEC on Au
Slide 9: Ironshore Acquisition Transaction Details
Ironshore Acquisition Transaction Details • Collegium to acquire all outstanding shares of Ironshore for $525M in cash Consideration • Potential $25M in additional consideration if Jornay PM net revenue exceeds a defined threshold in 2025 • Funded by existing Collegium cash on hand and $646M five-ye
Slide 10: Reaffirming 2024 Financial Guidance for Current Business
Reaffirming 2024 Financial Guidance for Current Business1 Product Revenues, Net Adjusted Operating Expenses3 Adjusted EBITDA3 (Excluding Stock-Based Compensation) (Excluding Stock-Based Compensation) $580–595M $120–125M $380–395M Up 3.7% YoY 2 Down (0.9)% YoY 2 Up 5.6% YoY 2 1. This financial data w
Slide 11: 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 • Proposed acquisition of Ironshore will establish commercial presence in neurology (ADHD)
Slide 12: Commercial Update
Commercial Update Scott Dreyer, Executive Vice President & Chief Commercial Officer
Slide 13: Q2'24 Commercial Update
Q2’24 Commercial Update Collegium Portfolio has Over 50% Branded ER Market Share and Large Prescriber Bases1,2 10,500 16,600 10,500 Unique prescribers3 Unique prescribers3 Unique prescribers3 1. IQVIA NPA through June 2024. 2. Quarter-ending product share (Belbuca, Xtampza ER, and Nucynta® ER). 13 3
Slide 14: 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 Q2’24 GROWING BELBUCA STRONG BRAND COMMERCIAL PRESCRIPTIONS F U N D A M E N TA L S PRIORITIES +2.1% YoY growth in Belbuca #1 highest rated branded ER opioid in Reinforce clinical differentiation pres
Slide 15: 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 56.2% #1 highest rated ER oxycodone in terms of product differentiation and Reinforce clinical differentiation favorability1 Pull thro
Slide 16: 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 PRESCRIBER BASE & MARKET M A R K E T A CC E S S +5% ~15K ~80% CAGR in total ADHD prescriptions from 2019-2023 Prescribers per month Coverage across commercial and Medicaid S I G N I F I C A N T G R O
Slide 17: Closing Remarks
Closing Remarks Michael Heffernan, Chairman, Interim President & Chief Executive Officer
Slide 18: Creating Long-Term Value Through Operational Execution
Creating Long-Term Value Through Operational Execution DELIVER ON Financial commitments of top- and bottom-line growth: Creating value for • Integrate and maximize the full potential of Jornay PM shareholders by: • Achieve record revenue, adjusted EBITDA and net income ✓ Growing revenue • Generate r
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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 GAAP net income (loss) $ 19,606 $ 13,007 $ 47,319 $ (4,419) Adjustments: Interest expense 15,587 21,863 32,9
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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 GAAP operating expenses $ 43,335 $ 38,193 $ 85,317 $ 90,968 Adjustments: Stock-based compensati
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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 GAAP net income (loss) $ 19,606 $ 13
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