The following is a summary of the Collegium Pharmaceutical, Inc. (COLL) Q2 2024 Earnings Call Transcript:
Financial Performance:
Collegium generated Q2 revenue of $145.3 million, up 7% year-over-year.
Belbuca net revenue recorded at $52.2 million, up 21% year-over-year.
Xtampza ER net revenue was $44.6 million, up 8% year-over-year.
GAAP net income for Q2 was $19.6 million, up 51% year-over-year.
Non-GAAP adjusted EBITDA was $96 million, up 12% year-over-year.
Business Progress:
Collegium announced the proposed acquisition of Ironshore Therapeutics, aiming to diversify and expand into the ADHD market with Jornay PM, a central nervous system stimulant.
Achieved prescription growth for pain management products Belbuca and Xtampza ER, bolstering the company's leadership in responsible pain management.
Implemented a capital deployment strategy, including an accelerated share repurchase program, repurchasing 1.06 million shares.
Opportunities:
The acquisition of Ironshore Therapeutics introduces Jornay PM into Collegium's portfolio, targeting the large and growing ADHD market.
Expected net revenue from Jornay PM is projected to exceed $100 million in 2024, with 80% coverage across commercial and Medicaid segments.
Risks:
Risks related to the timely and successful integration of Ironshore Therapeutics and the realization of anticipated benefits post-acquisition events with financial implications.
Long-term success highly dependent on Jornay PM's market performance and acceptance in the competitive ADHD segment.
More details: Collegium Pharmaceutical IR
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