COLL Rule 144 Notice: 16,389 Common Shares Proposed Sale on 08/18/2025

Rhea-AI Filing Summary

Form 144 notice for Collegium Pharmaceutical, Inc. (COLL): An insider filed a proposed sale of 16,389 common shares to be brokered through Fidelity Brokerage Services LLC on 08/18/2025 with an aggregate market value of $626,170.29. The filing reports 31,502,127 shares outstanding and lists the exchange as NASDAQ. The securities reported were acquired under an option granted on 02/05/2020 and are noted as acquired on 08/18/2025, with payment indicated as cash. The filing also discloses a prior sale by Scott Dreyer of 4,861 shares on 08/13/2025 for gross proceeds of $184,880.84. The notice includes the standard representation that the seller does not possess undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: A Rule 144 filing documents a scheduled sale of 16,389 common shares (insider option exercise) with modest absolute value relative to market cap.

The filing shows an insider intends to sell shares acquired via an option exercise and executed through Fidelity on 08/18/2025. The disclosed aggregate market value is $626,170.29 against 31,502,127 shares outstanding, indicating the sale represents a small fraction of total shares. A recent sale of 4,861 shares on 08/13/2025 for $184,880.84 is also reported. From a securities-transaction perspective this is a routine Rule 144 notice documenting compliance with resale conditions rather than signaling a material corporate development.

Corporate Governance Expert

TL;DR: Filing documents compliance with Rule 144 for disposition of option-derived shares; disclosure is procedural and non-material on its face.

The notice identifies the nature of acquisition as an option grant dated 02/05/2020 with acquisition and intended sale dated 08/18/2025 and cash payment. It includes the statutory attestation about material non-public information. There are no indications of unusual trading patterns or coordinated large disposals in the filing. Absent further context on holding concentrations or recent executive changes, this filing appears to be a standard compliance disclosure.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	16389	626170.29	31502127	08/18/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/18/2025	Option Granted - 02/05/2020	Issuer			16389	08/18/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Scott Dreyer 100 Technology Center Drive Stoughton MA 02072	Common	08/13/2025	4861	184880.84

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for COLL disclose?

The filing discloses a proposed sale of 16,389 common shares through Fidelity on 08/18/2025 with aggregate market value $626,170.29.

How were the shares being sold by the COLL filer acquired?

The securities were acquired via an option granted on 02/05/2020, with the acquisition and intended sale dated 08/18/2025, paid in cash.

Did the filing report any recent insider sales for COLL?

Yes. It reports that Scott Dreyer sold 4,861 common shares on 08/13/2025 for gross proceeds of $184,880.84.

On which exchange are the shares listed according to the filing?

The filing lists the securities exchange as NASDAQ.

How many COLL shares are outstanding per the filing?

The filing reports 31,502,127 shares outstanding.