Collegium Pharmaceutical(US:COLL)2025-11-06 14:00Financial Data and Key Metrics Changes - The company reported record total revenues of $209.4 million, up 31% year-over-year [23] - Adjusted EBITDA reached $133 million, reflecting a 27% increase year-over-year [23] - Cash from operations was $78.4 million, with a cash balance of $285.9 million at the end of the quarter [25][23] - The company raised its 2025 financial guidance, expecting total product revenues in the range of $775 million to $785 million, representing a 24% increase year-over-year [25] Business Line Data and Key Metrics Changes - Jornay PM generated record net revenue of $41.8 million, with prescriptions growing 20% year-over-year [6][23] - The pain portfolio achieved record net revenue of $167.6 million, up 11% year-over-year [7] - Belbuca net revenue was $58.3 million, up 10% year-over-year, while Xtampza net revenue was $50.5 million, up 2% year-over-year [24] - Nucynta franchise net revenue reached $54.8 million, reflecting a 21% year-over-year increase [24] Market Data and Key Metrics Changes - Jornay PM's market share in the long-acting branded methylphenidate market grew to 23.4%, an increase of 6.3 percentage points year-over-year [14] - The prescriber base for Jornay PM reached an all-time high of 27,700, up 22% year-over-year [14] - The pediatric and adolescent segment, representing about 80% of total prescriptions, grew 18% year-over-year, while the adult segment grew 29% year-over-year [15] Company Strategy and Development Direction - The company is focused on driving significant growth for Jornay PM, maximizing the pain portfolio, and strategically deploying capital [9][10] - There is an emphasis on raising awareness of Jornay's differentiated profile among healthcare providers, patients, and caregivers [10] - The company remains active in pursuing additional differentiated medicines to expand its portfolio through business development [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of the pain portfolio and significant growth from Jornay PM [8] - The company is committed to improving the lives of patients and creating value for shareholders [29] - Management highlighted the importance of ongoing investments in commercial efforts and the expansion of the sales force to drive future growth [10][11] Other Important Information - The company celebrated its 10-year anniversary as a publicly traded entity, marking a decade of delivering differentiated medicines [9] - The company presented nine posters at Pain Week 2025, showcasing real-world data from its pain portfolio [8] Q&A Session Summary Question: How did return reserves and inventory impact Q3 script growth? - Management noted that gross to net improved in Q3, with returns rates and favorable contracting contributing to this improvement [32] Question: What impact did the expanded sales force have in Q3? - Management indicated that while early signals of impact were observed, significant effects from the expanded sales force are expected in 2026 and beyond [33] Question: What is the adherence rate for Jornay PM since the back-to-school season? - Adherence rates for Jornay PM are consistent with typical ADHD medications, showing a standard adherence curve [44] Question: What is the company's approach to business development? - The company remains active in business development, focusing on commercial or near-commercial assets while balancing capital deployment strategies [53]