Q3 2025 Collegium Pharmaceutical Inc Earnings Call Transcript
Key Points
- Collegium Pharmaceutical Inc (COLL) reported a 31% year-over-year increase in net revenue for the third quarter of 2025, reaching a record $209.4 million.
- The company's lead growth driver, Jornay PM, achieved a record $41.8 million in net revenue, with prescriptions growing 20% year over year.
- Collegium's pain portfolio also saw significant growth, with net revenue reaching $167.6 million, up 11% year over year.
- The company generated $78.4 million in cash from operations and reduced its debt by $16.1 million, ending the quarter with $285.9 million in cash.
- Collegium raised its 2025 financial guidance, now expecting total revenue growth of approximately 24% year over year, driven by the durability of its pain portfolio and significant growth from Jornay PM.
- Despite the strong financial performance, the company faces risks and uncertainties related to forward-looking statements, as highlighted in their cautionary note.
- The expansion of the sales force did not have a significant impact in the third quarter, with expectations for more substantial effects in 2026.
- Gross to net improvements for Jornay PM were driven by seasonality and favorable contracting, which may not be sustainable long-term.
- The company remains cautious about potential negative formulary changes, although none are expected for 2026.
- Collegium's business development efforts are ongoing, but there is no specific timeline or guarantee of successful acquisitions or expansions.
Greetings and welcome to the Collegium Pharmaceuticals 3rd quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. (Operator Instructions) I will now turn the call over to Ian Park, head of investor relations at Collegium.
Thank you. You may begin.
Great, thanks. Welcome to Collegium Pharmaceuticals 3rd quarter 2025 earnings conference call. I'm joined today by Vikram Karnani, our President and Chief Executive Officer, Colleen Tupper; our Chief Financial Officer; and Scott Dreyer, our Chief Commercial Officer. Before we begin today's call.
we want to remind participants that none of the information presented today is intended to be promotional and that any forward-looking statements made today are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. You are cautioned that such forward-looking statements involve risks and uncertainties as detailed in the company's periodic reports filed
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