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Mar 31, 2022
Collegium Q1 2022 Earnings Report
Collegium reported a net loss and total net product revenues decreased compared to the same quarter last year.
Key Takeaways
Collegium Pharmaceutical reported first quarter 2022 financial results, which included a net loss of $13.1 million and total net product revenues of $83.8 million. The company completed the acquisition of BDSI and is on track to exceed targeted run rate synergies of at least $75 million. They also resolved all opioid-industry litigation and reaffirmed their 2022 financial guidance.
Generated net revenue of $83.8 million
Completed BDSI Acquisition; On Track to Exceed Targeted Run Rate Synergies of at Least $75 Million
Resolved All Opioid-Industry Litigation
Grew Belbuca and Xtampza ER total prescriptions 4% and 3%, respectively, over the first quarter of 2021
Forward Guidance
The Company reaffirms financial guidance for the full year 2022, originally provided on April 5, 2022: ●Total product revenues are expected in the range of $450.0 million to $465.0 million, up approximately 65% at the midpoint compared to net product revenue of $276.9 million in 2021; ●Total adjusted operating expenses, which excludes stock-based compensation expense and acquisition related expenses, are expected in the range of $130.0 million to $140.0 million; and ●Total adjusted EBITDA which excludes stock-based compensation and acquisition related expenses, is expected in the range of $235.0 million to $250.0 million.
Positive Outlook
- Total product revenues are expected in the range of $450.0 million to $465.0 million
- Revenues are expected to be up approximately 65% at the midpoint compared to net product revenue of $276.9 million in 2021
- Total adjusted operating expenses are expected in the range of $130.0 million to $140.0 million
- Total adjusted EBITDA is expected in the range of $235.0 million to $250.0 million.
- On track to exceed targeted run rate synergies of at least $75 million
Challenges Ahead
- Unable to predict the timing and amount of items that would be included in such a reconciliation, including, but not limited to, stock-based compensation expense.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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