Collegium Pharmaceutical Inc Stock Price, News & Analysis

Collegium Pharmaceutical, Inc. (Nasdaq: COLL) is set to release its first quarter 2023 financial results after market close on May 4, 2023. The announcement includes a live conference call and webcast scheduled for 4:30 p.m. ET, with dial-in numbers provided for U.S. and international participants.

The company focuses on developing specialty pharmaceuticals aimed at serious medical conditions. Collegium's commitment to improving patient lives underlines its strategic positioning within the pharmaceutical sector. The earnings call will offer insights into Collegium's financial performance and future outlook, attracting attention from investors keen on the company's financial metrics.

Collegium Pharmaceutical, Inc. (Nasdaq: COLL) announced participation in a fireside chat during the 22nd Annual Needham Healthcare Conference, scheduled for April 18, 2023, at 2:15 p.m. ET. The event will be held virtually from April 17-20, 2023. Investors can access the live webcast through the Investors section on Collegium's website. A replay will be available for 90 days post-event. Collegium is known for its commitment to enhancing the lives of those affected by serious medical conditions, with its headquarters based in Stoughton, Massachusetts.

Collegium Pharmaceutical (Nasdaq: COLL) reported record net revenue of $129.6 million for Q4 2022 and $463.9 million for FY 2022, compared to $27.4 million and $276.9 million respectively in the previous year. The company exited 2022 with a cash balance of $173.7 million and reaffirmed its 2023 guidance, projecting product revenues between $565 million and $580 million. Collegium implemented strategic initiatives, including acquiring BDSI, achieving $85 million in annual synergies, and resolving all 27 opioid-related lawsuits. The company also initiated a $100 million share repurchase program.

Collegium Pharmaceutical (Nasdaq: COLL) has released its inaugural Environmental, Social and Governance (ESG) report, showcasing its commitment to ethical business practices. Highlights from 2022 include initiatives in corporate governance, Diversity, Equity and Inclusion (DEI), and corporate social responsibility, with over $350,000 donated to STEM initiatives. Collegium aims to reduce environmental impacts through various strategies. CEO Joe Ciaffoni emphasized the company’s dedication to ethical standards, community involvement, and shareholder value as it anticipates growth in 2023.

Collegium Pharmaceutical, Inc. (Nasdaq: COLL) has announced the pricing of a private offering of $210 million in 2.875% convertible senior notes due 2029, up from a previously projected $175 million. The notes are expected to settle on February 10, 2023. The initial conversion price is approximately $36.56 per share, which represents a premium of about 30% over the last stock price of $28.12 on February 7, 2023. The net proceeds are estimated at $203.2 million, aimed at repurchasing $117.4 million of 2026 notes and for general corporate purposes. The offering includes options for initial purchasers to buy an additional $31.5 million of notes.

Collegium Pharmaceutical (Nasdaq: COLL) plans to offer $175 million in convertible senior notes due 2029. The offering is private, intended for qualified institutional buyers, with an additional $26.25 million option for initial purchasers. The notes will accrue interest and can be converted into cash or common stock. Collegium aims to use proceeds to repurchase part of its 2026 Convertible Senior Notes and for general corporate purposes, including working capital and business development. The company has not set specific uses beyond the repurchase of 2026 notes and has no current acquisition agreements.

Collegium Pharmaceutical (Nasdaq: COLL) reported preliminary financial results for Q4 and FY 2022, estimating product revenues of $460.0-$462.5 million for the year and $125.7-$128.2 million for Q4. GAAP operating expenses are projected between $176.5-$181.5 million for the year and $38.4-$43.4 million for the fourth quarter. Adjusted EBITDA is expected to be $261.5-$264.0 million for the year and $71.9-$74.4 million for Q4. The company announced its final results will be disclosed on February 23, 2023, after market close. These results exceed the high-end of their previously issued earnings guidance for 2022.