Collegium Pharmaceutical, Inc. · NASDAQ:COLL
Collegium Pharmaceutical — Investor Presentation (September 2024)
45 slides from Collegium Pharmaceutical's investor presentation, Sep 4, 2024
Slide 1: Investor Presentation September 2024
Investor Presentation September 2024 | Nasdaq: COLL
Slide 2: Forward-Looking Statements
2 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," "anticip
Slide 3: Healthier people. Stronger communities. Mission Driven
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 4: 2024 Focus: Operational Execution
2024 Focus : Operational Execution
Slide 5: Highly Accretive Commercial-Stage Acquisition With Strong Growth Potential
Highly Accretive Commercial - Stage Acquisition With Strong Growth Potential Building a Leading, Diversified Specialty Pharmaceutical Company Maximize Pain Portfolio 5 • Conduct disciplined business development focused on commercial - stage, durable assets • Pay down debt • Opportunistically return
Slide 6: Executing on Our Strategy
1. This financial data was provided by Collegium in its Form 8 - K and/or its Form 10 - Q filed with the SEC on August 8, 2024. 2. Represents a non - GAAP financial measure. Refer to “Non - GAAP Financial Measures” on slide 2. Executing on Our Strategy 6 Maximizing value of pain portfolio and delive
Slide 7: 2024 Financial Guidance Reflects Acquisition of Ironshore
2024 Financial Guidance 1 Reflects Acquisition of Ironshore as of September 2024 7 Product Revenues, Net Adjusted Operating Expenses 3 (Excluding Stock - Based Compensation) Adjusted EBITDA 3 (Excluding Stock - Based Compensation) 1. This financial data was provided by Collegium in its press release
Slide 8: Disciplined Capital Deployment
1. Details regarding the Pharmakon term - loan debt amortization schedule were provided by Collegium on Form 8 - K filed with the SEC o n July 29, 2024. 2. Adjusted EBITDA is a non - GAAP financial measure. Refer to “Non - GAAP Financial Measures” on slide 2. 2024 net debt/adjusted EBITD A is calcul
Slide 9: Path to Building a Leading, Diversified Specialty Pharmaceutical Company
9 Path to Building a Leading, Diversified Specialty Pharmaceutical Company 1990s – 2000s Rise of opioid epidemic in the U.S., marked by sharp increases in prescription opioid overdose deaths 2002 Collegium formed to address opioid epidemic through development of prescription pain treatments with abu
Slide 10: Expansion into Neurology (ADHD): Addition of Jornay PM
Expansion into Neurology (ADHD): Addition of Jornay PM
Slide 11: Ironshore Acquisition Aligns with All Strategic Objectives
11 Ironshore Acquisition Aligns with All Strategic Objectives x Differentiated, commercial - stage assets to diversify specialty pharmaceutical portfolio Addition of Jornay PM ® establishes a commercial presence in neurology (ADHD) with a highly differentiated product, diversifying portfolio x Signi
Slide 12: Expanding Commercial Presence into Neurology
12 Expanding Commercial Presence into Neurology • Highly differentiated central nervous system (CNS) stimulant prescription medicine for the treatment of attention deficit hyperactivity disorder (ADHD) in people six years of age and older in the U.S. • Only stimulant ADHD medication with convenient
Slide 13: Jornay PM Poised for Rapid Growth in the ADHD Market
13 Jornay PM Poised for Rapid Growth in the ADHD Market +5% CAGR in total ADHD prescriptions from 2019 - 2023 LARGE AND EXPANDING ADHD MARKET STRONG PRESCRIBER BASE & MARKET ACCESS SIGNIFICANT GROWTH IN JORNAY PM PRESCRIPTIONS 310K 490K 2022 2023 +58% +32% Year - over - year growth in H1’24 COMMERCI
Slide 14: Ironshore Acquisition Transaction Details
14 Ironshore Acquisition Transaction Details Consideration • Collegium acquired all outstanding shares of Ironshore for $525M in cash • Potential $25M in additional consideration if Jornay PM net revenue exceeds a defined threshold in 2025 Financing • Funded by existing Collegium cash on hand and $6
Slide 15: Collegium: The Leader in Responsible Pain Management
Collegium: The Leader in Responsible Pain Management
Slide 16: Pain Portfolio Growth Drivers
1. IQVIA NPA through June 2024. 2. IQVIA Xponent through June 2024; approximate quarterly prescriber counts. 16 Pain Portfolio Growth Drivers Expect prescription and revenue growth in 2024 Expect revenue growth in 2024 Strong Market Position 35.1% share of growing buprenorphine market 1 Large Prescr
Slide 17: Well Positioned to Grow Belbuca Prescriptions and Revenue in 2024
#1 highest rated branded ER opioid in terms of product differentiation and favorability 2 74% of surveyed target HCPs plan to increase prescribing 2 STRONG BRAND FUNDAMENTALS 17 Well Positioned to Grow Belbuca Prescriptions and Revenue in 2024 1. IQVIA NPA through June 2024. 2. ATU (Awareness, Trial
Slide 18: Xtampza ER Poised to Grow Revenue in 2024
#1 highest rated ER oxycodone in terms of product differentiation and favorability 1 48% of surveyed target HCPs plan to increase prescribing, while 60% plan to decrease prescribing of OxyContin 1 Strong market access coverage across all payor types, commercial and Medicare Part D STRONG BRAND FUNDA
Slide 19: Nucynta Franchise: Stable Contributor
$182.0M $173.2M $184.5M $190.8M 2020 2021 2022 2023 Product Revenues, Net Nucynta Franchise net revenue All other net product revenue 1. 2021 product revenues, net were impacted by a negative $38.3M returns adjustment, including a negative $24.5M returns adju stm ent related to Nucynta. 19 Nucynta F
Slide 20: Strong Track Record of Execution and Achieving Financial Commitments
Strong Track Record of Execution and Achieving Financial Commitments
Slide 21: Track Record of Strong Top- and Bottom-Line Growth
21 Track Record of Strong Top - and Bottom - Line Growth GROW LEVERAGE EXPAND $118M 1 $266M 2 $367M 2 $400M 3 2021 2022 2023 2024E Adjusted EBITDA 4 1. This financial data was provided by Collegium in its Annual Report on Form 10 - K filed with the SEC on February 23, 2023. 2. This financial data wa
Slide 22: Robust Operating Cash Flow Generation from Pain Portfolio
22 Robust Operating Cash Flow Generation from Pain Portfolio Cash Flows from Operating A ctivities 1 +$66M +$10M +$20M +$151M $170M $174M $186M $174M $311M • Strong cash generation enables disciplined capital deployment strategy • Executed $172M in share repurchases to date 1 • Invested ~ $1B in bus
Slide 23: Disciplined Capital Deployment
Disciplined Capital Deployment
Slide 24: Paydown of Debt
1. Represents period en d figures. 2. Details regarding the Pharmakon term - loan debt amortization schedule were provided by Collegium on Form 8 - K filed with the SEC o n July 29, 2024. 3. Adjusted EBITDA is a non - GAAP financial measure. Refer to “Non - GAAP Financial Measures” on slide 2. 2024
Slide 25: Opportunistic Share Repurchases
2021 2022 2023 2024 YTD ASR program Open market share repurchases 25 Opportunistic Share Repurchases 1 1. This financial data is calculated from data provided by Collegium in its Form 10 - Q filed with the SEC on August 8, 2024 and Annu al Report on Form 10 - K filed with the SEC on February 22, 202
Slide 26: Track Record of Successful Business Development
$104M $139M $177M $173M $325M $390M 2021 2022 2023 1. This financial data was provided by Collegium on Form 10 - K filed with the SEC on February 23, 2023. 2. This financial data was provided by Collegium on Form 10 - K filed with the SEC on February 22, 2024. 3. Represents Xtampza ER product revenu
Slide 27: Strong IP Management
Strong IP Management
Slide 28: 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 Jornay PM, which does not have any ANDA filers yet, the March 2032 expiry o
Slide 29: Summary
Summary
Slide 30: Creating Long-Term Value Through Operational Execution
30 Creating Long - Term Value Through Operational Execution 30 DELIVER ON Financial commitments of top - and bottom - line growth: • Achieve record revenue, adjusted EBITDA and net income • Generate record free cash flow STRATEGICALLY Deploy capital in a disciplined manner: • Expand neurology portfo
Slide 31: Important Safety Information
Important Safety Information
Slide 32: Important Safety Information about Jornay PM
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and other serious risks at https:// ironshorepharma.com/jornay - pm - label. 32 Important Safety Information about Jornay PM (methylphenidate HCI extended - release capsules) WARNING: ABUSE, MISUSE, AND ADDICTI
Slide 33: Important Safety Information about Jornay PM
See full prescribing information, including Boxed Warning on Addiction, Abuse and Misuse, and other serious risks at https:// ironshorepharma.com/jornay - pm - label. 33 Important Safety Information about Jornay PM (methylphenidate HCI extended - release capsules) WARNINGS AND PRECAUTIONS JORNAY PM
Slide 34: 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 . 34 Important Safety Information about XTAMPZA ER (oxycodone) extended - release capsules WARNING: SERIOUS AND LIFE - THREATENING RISKS FROM USE OF XTAMPZA ER Addict
Slide 35: 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 . 35 Important Safety Information about XTAMPZA ER (oxycodone) extended - release capsules Opioid Analgesic Risk Evaluation and Mitigation Strategy (REMS) Healthcare
Slide 36: 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 . 36 Important Safety Information about BELBUCA (buprenorphine buccal film) WARNING: SERIOUS AND LIFE - THREATENING RISKS FROM USE OF BELBUCA Addiction, Abuse
Slide 37: 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 . 37 Important Safety Information about NUCYNTA ER (tapentadol) extended - release tablets WARNING: SERIOUS AND LIFE - THREATENING RISKS FROM USE OF NUCYNTA ER Addict
Slide 38: 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 . 38 Important Safety Information about NUCYNTA ER (tapentadol) extended - release tablets Neonatal Opioid Withdrawal Syndrome If opioid use is required for an extend
Slide 39: 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 . 39 Important Safety Information about NUCYNTA (Tapentadol) tablets WARNING: SERIOUS AND LIFE - THREATENING RISKS FROM USE OF NUCYNTA TABLETS Addiction, Abuse, and Mi
Slide 40: Important Safety Information about SYMPROIC
See full prescribing Information and other s erious risks at Symproic.com/#isi . 40 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 sign
Slide 41: Important Safety Information about SYMPROIC
See full prescribing Information and other s erious risks at Symproic.com/#isi . 41 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 pai
Slide 42: Important Safety Information about SYMPROIC
See full prescribing Information and other s erious risks at Symproic.com/#isi . 42 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 b
Slide 43: Non-GAAP Reconciliations
Non - GAAP Reconciliations
Slide 44: Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA (in thousands) (unaudited) 44 GAAP net income (loss) $ 19,606 $ 13,007 $ 48,155 $ (25,002) $ 71,517 Adjustments: Interest expense 15,587 21,863 83,339 63,213 21,014 Interest income (4,397) (4,027) (15,615) (1,
Slide 45: Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses
Collegium Pharmaceutical, Inc. Reconciliation of GAAP Operating Expenses to Adjusted Operating Expenses (in thousands) (unaudited) 45 GAAP operating expenses $ 43,335 $ 38,193 $ 159,208 $ 176,169 $ 132,989 Adjustments: Stock-based compensation 10,012 7,072 27,136 22,874 24,255 Restructuring — — — —
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