Collegium Pharmaceutical, Inc. Q4 2025 Earnings Call Summary

Achieved record full-year net revenues of $780.6 million, a 24% increase driven by the first full year of Jornay PM ownership and continued growth in the core pain portfolio. Jornay PM delivered 48% revenue growth compared to pro forma 2024, supported by a strong back-to-school season and the initial impact of sales force expansion from 125 to 180 representatives. The pain portfolio, comprising Belbuca, Xtampza ER, and Nucynta, grew 6% year-over-year to $631.7 million, reinforcing management's view th ...