Collegium Pharmaceutical Inc. ( (COLL) ) has released its Q3 earnings. Here is a breakdown of the information Collegium Pharmaceutical Inc. presented to its investors.
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Collegium Pharmaceutical, Inc. is a specialty pharmaceutical company focused on improving the lives of individuals with serious medical conditions, operating primarily in the healthcare sector with a diverse portfolio of pain management products.
In the third quarter of 2024, Collegium Pharmaceutical reported record financial results, with a notable increase in net revenue and significant growth in their pain management portfolio. The company also completed the acquisition of Ironshore Therapeutics, marking its entry into the neurology sector.
Key financial highlights include a 17% year-over-year increase in net revenue, reaching $159.3 million for the quarter, and an 18% rise in adjusted EBITDA to $105.1 million. The company saw record revenues from its lead products, Belbuca and Xtampza ER, and noted strong prescription growth for Jornay PM, acquired from Ironshore Therapeutics. Despite a decrease in GAAP net income compared to the previous year, adjusted net income showed a notable increase, reflecting the company’s robust operational performance.
Strategically, Collegium has positioned itself for future growth with the integration of Ironshore and the appointment of Vikram Karnani as CEO. The acquisition is expected to drive additional revenue, contributing to the company’s expansion in therapeutic areas.
Looking ahead, Collegium Pharmaceutical remains optimistic about its growth trajectory and is on track to meet its financial targets for 2024. With strong performance in its existing portfolio and the potential of new products, the company is poised for continued success in the upcoming year.
