Why 2025 is a Dynamic and Transformative Year for Collegium

Core Insights - Collegium Pharmaceutical, Inc. (COLL) has demonstrated strategic discipline and optimism, focusing on its pain-management franchise and ADHD product, Jornay PM, supported by significant capital investments [1] Share Buybacks Highlight Long-Term Confidence - The company has implemented an aggressive share buyback strategy, including a $25 million accelerated share repurchase deal in May and a new $150 million repurchase program authorized in July, reflecting a commitment to growth and returning capital to shareholders [2] Strengthening Governance and Commercial Expansion - Collegium is enhancing its corporate governance by refreshing its board, appointing Gino Santini as chairman and adding Nancy S. Lurker as a director, while also expanding its ADHD commercial operations with the deployment of approximately 180 trained sales representatives for Jornay PM [3] Disciplined Capital Allocation - The company is focusing on disciplined capital allocation, which includes paying down debt, engaging in opportunistic share repurchases, and prioritizing business development in areas with potential for long-term returns [4] Broadening Beyond Pain Management Amid Competition - Collegium is expanding beyond its traditional pain management focus, gaining traction in neuropsychiatry with Jornay PM, while facing competition from companies like Amneal Pharmaceuticals, Inc. and ANI Pharmaceuticals, Inc. [5] Consistent Outperformance Reinforces Momentum - In Q3 2025, Collegium reported adjusted earnings of $2.25 per share, exceeding the Zacks Consensus Estimate of $1.88, and revenues of $209.36 million, surpassing the consensus estimate of $189.73 million, marking a consistent trend of beating revenue estimates over the past four quarters [6] Bottom Line - The year 2025 has been characterized by consolidation and strategic evolution for Collegium, positioning the company for sustainable, shareholder-focused growth rather than short-term gains [7] Summary of Recent Developments - Collegium has made significant advancements through share buybacks, governance changes, and expanded ADHD commercial efforts, deploying around 180 representatives for Jornay PM while maintaining disciplined capital allocation [8]