Full Press Release Details
Collegium Provides 2026 Financial Guidance and
- Product Revenues, Net Expected in the
Range of $805 Million to $825 Million -
- Jornay PM Net Revenue
Expected in the Range of $190 Million to $200 Million -
- Adjusted EBITDA* Expected in the Range
of $455 Million to $475 Million -
STOUGHTON, Mass., January 8, 2026
-- Collegium Pharmaceutical, Inc. (Nasdaq: COLL), today announced its 2026 full-year financial guidance and provided a business update.
"2025 was a year of record growth for Collegium
and we are excited to begin 2026 with significant momentum for continued success," said Vikram Karnani, President and Chief
Executive Officer. "The outstanding performance of Jornay PM, along with sustained revenue growth across our pain portfolio, has
put us in a strong financial position as we enter the year ahead. We remain dedicated to supporting patients with serious medical conditions
while delivering value to our shareholders through strong commercial execution, strategic business development, and disciplined capital
"We are on track to achieve our recently
increased financial guidance for 2025 and expect additional topline revenue growth in 2026 to be driven largely by increasing Jornay PM
sales," said Colleen Tupper, Chief Financial Officer. "In addition, we look forward to executing our capital deployment strategy
which balances paying down debt, opportunistically repurchasing shares, and actively evaluating opportunities to expand and diversify
our portfolio through business development."
Recent Business Highlights
Financial Guidance for 2026
* Non-GAAP financial measure. Please refer to the "Non-GAAP
Financial Measures" section for details regarding these measures.
About Collegium Pharmaceutical, Inc.
Collegium is building a leading,
diversified biopharmaceutical company committed to improving the lives of people living with serious medical conditions. The Company
has a leading portfolio of responsible pain management medications and a rapidly growing neuropsychiatry business driven by Jornay PM ,
a differentiated treatment for ADHD. Collegium's strategy includes growing its commercial portfolio, with Jornay PM as the lead
growth driver, and deploying capital in a disciplined manner. Collegium's headquarters are located in Stoughton, Massachusetts.
For more information, please visit the Company's website at www.collegiumpharma.com.
Non-GAAP Financial Measures
To supplement our financial results presented
on a GAAP basis, we have included information about certain non-GAAP financial measures. We believe the presentation of these non-GAAP
financial measures, when viewed with our results under GAAP and the accompanying reconciliations, provide analysts, investors, lenders,
and other third parties with insights into how we evaluate normal operational activities, including our ability to generate cash from
operations, on a comparable year-over-year basis and manage our budgeting and forecasting. In addition, certain non-GAAP financial measures,
primarily adjusted EBITDA, are used to measure performance when determining components of annual compensation for substantially all non-sales
force employees, including senior management.
In this press release we discuss the following financial measures that
are not calculated in accordance with GAAP.
Adjusted EBITDA is a non-GAAP financial measure
that represents GAAP net income or loss adjusted to exclude interest expense, interest income, the benefit from or provision for income
taxes, depreciation, amortization, stock-based compensation, and other adjustments to reflect changes that occur in our business but do
not represent ongoing operations. Adjusted EBITDA, as used by us, may be calculated differently from, and therefore may not be comparable
to, similarly titled measures used by other companies.
There are several limitations related to the use
of adjusted EBITDA rather than net income or loss, which is the nearest GAAP equivalent, such as:
Forward-Looking Statements
This press release 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," "expects," "plans," "intends," "may," "could," "might,"
"should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Examples
of forward-looking statements contained in this press release include, among others, statements related to our 2025 and 2026 financial
guidance, including projected product revenues, adjusted operating expenses and adjusted EBITDA, statements related to the projected launch
of the authorized generic versions of Nucynta and Nucynta ER and anticipated shared net profits following the launch of such authorized
generic versions, statements related to current and future market opportunities for our products and our assumptions related thereto,
expectations (financial or otherwise) and intentions, and other statements that are not historical facts. Such statements are subject
to numerous important factors, risks and uncertainties that may cause actual events or results, performance, or achievements to differ
materially from the company's current expectations, including risks relating to, among others: unknown liabilities; risks related to future
opportunities and plans for our products, including uncertainty of the expected financial performance of such products; our ability to
commercialize and grow sales of our products; our ability to manage our relationships with licensors; the success of competing products
that are or become available; our ability to maintain regulatory approval of our products, and any related restrictions, limitations,
and/or warnings in the label of our products; the size of the markets for our products, and our ability to service those markets; our
ability to obtain reimbursement and third-party payor contracts for our products; the rate and degree of market acceptance of our products;
the costs of commercialization activities, including marketing, sales and distribution; changing market conditions for our products; the
outcome of any patent infringement or other litigation that may be brought by or against us; the outcome of any governmental investigation
related to our business; our ability to secure adequate supplies of active pharmaceutical ingredient for each of our products and manufacture
adequate supplies of commercially saleable inventory; our ability to obtain funding for our operations and business development; regulatory
developments in the U.S.; our expectations regarding our ability to obtain and maintain sufficient intellectual property protection
for our products; our ability to comply with stringent U.S. and foreign government regulation in the manufacture of pharmaceutical
products, including U.S. Drug Enforcement Agency compliance; our customer concentration; and the accuracy of our estimates regarding
expenses, revenue, capital requirements and need for additional financing. These and other risks are described under the heading "Risk
Factors" in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and other filings with the SEC. Any
forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation
to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press
Head of Investor Relations
Director, Investor Relations