Collegium Guides Higher

 Product Revenues, Net Expected in the Range of $565.0 Million to $580.0 Million –

– Adjusted Operating Expenses* Expected in the Range of $135.0 Million to $145.0 Million –

– Adjusted EBITDA* Expected in the Range of $355.0 Million to $370.0 Million –

– $100 Million Share Repurchase Program Authorized by the Board of Directors –

 Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a leading, diversified specialty pharmaceutical company, today announced its 2023 full-year financial guidance and provided a business update.

“2022 was a pivotal year for Collegium. We achieved the first two phases of our Three Phase Action Agenda, which included integrating BDSI, completing Xtampza® ER contract renegotiations to ensure gross-to-net of less than 65%, and generating momentum across our differentiated and distinctly positioned pain portfolio,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “With these accomplishments, 2023 is set to be a banner year. We are focused on executing Phase 3, Accelerate, building our leadership position in responsible pain management, and deploying capital to maximize shareholder value.”

“Driven by Xtampza ER and Belbuca®, we expect to immediately accelerate revenue growth making 2023 a banner year for Collegium. With our fully synergized cost structure, we expect significant bottom-line expansion, with adjusted EBITDA expected to grow at over four times the rate of adjusted operating expenses,” said Colleen Tupper, Chief Financial Officer of Collegium. “We are committed to deploying capital in a disciplined manner with business development as our highest priority. We plan to continue rapidly paying down debt and opportunistically returning capital to shareholders through our new $100 million share repurchase program.”

https://finance.yahoo.com/news/collegium-provides-2023-financial-guidance-130000991.html