COLL - Earnings call transcript Q2 2021 | Collegium Pharmaceutical, Inc.

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Operator

Greetings, and welcome to the Collegium Pharmaceutical Second Quarter 2021 Earnings Conference Call. [Operator Instructions]. It is now my pleasure to introduce your host, Alex Dasalla, Head of Investor Relations and Corporate Communications.

Alex Dasalla

Welcome to Collegium Pharmaceutical's Second Quarter 2021 Earnings Conference Call. This is Alex Dasalla, Head of Investor Relations for Collegium. Joe Financial Chief our Officer; Officer. by Tupper, Officer; Chief today Chief our and joined Ciaffoni, Executive our Colleen Commercial I'm Scott Dreyer,

we are to the Reform be remind and that provision want the Before of statements Private presented to promotional, call, Act made the forward-looking none harbor today information intended Litigation that pursuant of of to is today any today's begin made Securities participants XXXX. we safe

and commercialize litigation and Exchange that uncertainties, risks franchise, cautioned You litigation and incur such These periodic or our products. and not prevail the may limitation, risks detailed the other not involve to risks significant the we and Securities other and forward-looking Commission. the may including litigation are that current be in statements without future able Xtampza infringement Nucynta opioid pertaining may risks we or the that expense filed with company's to industry in and company successfully of reports are patent and ER investigations,

future from expectations today. our may materially Our discussed current differ results

release press certain include discussion earnings information. Our this call non-GAAP and will of

turn Collegium's website press can on call corporate You relevant will at the CEO, to now non-GAAP collegiumpharma.com. earnings including over Joe our Ciaffoni. I reconciliations find release, our

Joseph Ciaffoni

hard for the with to recognize my and our want communities Thank living call. the first the work focused half you, everyone, their Today, for on to you, performance we Alex. the remainder both take Good in responsible remain to the pain At we mission QX and a leader Collegium, pain of in to for afternoon, them for people moment serve. we their thank addition and our joining outlook and of I being thank of year commitment during our colleagues management. will XXXX. discuss the

mission is During Scientists, life STEM a to with and whose second Science a in donation from to our of partnerships support literacy. sciences we in disadvantaged nonprofit quarter, expanded the education communities improve

Our fund multiple programs for STEM school the contributions upcoming will year.

driving We growth creating are for value mission, shareholders. dedicated and business our our in to delivering on

the I'm you portfolio achieving We maximizing growth. start strategically financial our meaningful the the priorities by in XXXX, in the progress to long-term and for made the of outlined at half that our year. will investing report goals of do that of pain this pleased of and our near-term products, first potential operational we we against differentiated

Our business strong people is are and our healthy.

D We formulary half phase record we EBITDA. X. skewing the accomplishments a we strong Part income We took on grew on in of Notable track COVID-XX creation, our our in market, position on to expectation. to ability in excluding in-person XXXX. market highs are the expanded relative visits. of primarily value pressured Xtampza our of of positions with operating these prescription hand were combination office gross-to-net and dynamics ER, visits to since and and that impacted ER make factors grew are to a first in adversely first our achieve in-person XXXX. total include: share field gains and franchise XXXX, level Xtampza and XXXX force's net we The and million, ER objectives We stock-based prescriptions market for adjusted posted not prescriptions. by Xtampza seen new which exclusive revenue delivering patient And resulted compensation. January to plans, to driven net all-time growth We revenue, $XXX half $XXX million. in over growth the cash Medicare over effect market share expenses, Nucynta reduced

Xtampza will progress, are we for a Nucynta ER near adjusting our year COVID-XX result, the are persist franchise. anticipate the dynamics full we we as guidance Although in term. and of signs the seeing And

mix are to we market time, managing ER XXXX, share ER we of committed improving with less gross-to-net prescriptions. gross-to-net Over first mix focused offsetting improving driven business to remainder optimizing and of than Nucynta by franchise XX% Xtampza revenue of are half on grew the dynamics by Xtampza on business. the and XXXX, pressure The of favorable growing payer in the For contracts.

For expect structure, of of Operationally, excluding and specifically stock-based key we expenses, dynamics operating achieved XXXX, our our favorable we our to compensation, to generating prescriptions cash Nucynta in the cost gross-to-net remainder strong franchise objectives stabilize continue. flows. leveraging

executing to a our our in continue manner. for plan we growth disciplined XXXX, creating by balance of remainder be shareholders deploying on value sheet and on the strong For focused our

diversification. on focused is strategy development business Our

Specifically, in X we company to diversify are X ways. of the seeking

we like diversification, would high financial structure. synergy directly First, leverage stage, commercial cost are the our that where on Nucynta focused acquisition, opportunities

Second, diversification II or development defined the assets. later ready as pain non-opioid through of later-stage acquisition Phase

strategic Here, are on we would into generate pursuing remains peak for that and Business have organization, that XXXX therapeutic we a And programs lower to potential of progress. the XXXX stage forward that are in look least our at priority the pursuing million. $XXX updating beachhead acquisitions development to adjacent top you synergy have frame, we commercial time areas. third, the a revenue to establish potential and sales

trends We our portfolio. half are performance encouraged first in by the revenue of differentiated the our and underlying year in by the pain

Colleen now objectives, lot I over will financials. achieve recognize of hand on call discussion we a our but a track work are to of We for to the the do. have to

Colleen Tupper

Good afternoon, Joe. Thanks, everyone.

CFO. face to Xtampza thanks $XX and talents, truly the from and million, revenue the looking was me quarter saw decrease XXXX. revenue ER and Collegium that, of QX of my X% of a many colleagues quarter, Collegium, I for of increase underlying recognize start, X% the we am operations. to an second a of operating second I'm first decrease let me contributions their year last to of quarter the at across of COVID-XX, quarter, from strong another jump excited In cost quarter to dynamic, ahead. quarter. the want million nonexclusive was With same we from skewed COVID-XX a net our second the journey volume generated from in the discount $XX.X XX.X%. books of at In quarter flows I remained of mix into particular, XXXX. and leveraged Total but Because particularly of cash extend greatly and was of the as forward as growth this in a dynamic, D, product to new for of and meaningful exclusive accounts, books noncontracted resulting transition all to business, be business the Part challenging business. I Medicare in have my gross-to-net X% helped role Collegium which Before I the structure

second ER XXXX, pace to seen continue at Xtampza of expect the what prior half years. and grow with we to have in Looking consistent we to moderated a

quarter discount first QX, quarter structure. of was dynamics stock-based million for the continued year decrease the remainder in quarter decrease our first our XX% the The excluding $XX.X this In the better second compared and commitment franchise again Nucynta. an to and stock-based cost a XXXX million excluding benefit and expect in revenue second quarter quarter in franchise were to from $XX.X expectations, operating Nucynta QX million was the year. in reflects than of we to $XX.X compensation, $XX.X the our continue last of the expenses, to Moving the from favorable the gross-to-net in second compared expenses, leveraging million gross-to-net of net from increase to this quarter, same compensation, of of to Operating year. year. QX X%

XXXX. in non-GAAP $XX.X second million versus for EBITDA million was Our the quarter adjusted $XX.X the of quarter second

quick note a make on me Let net income.

due to GAAP press Our tax losses see income issued its onetime of net a of our tax company's $XX.X the of of release today of million release for valuation earlier on includes majority allowance net a operating assets. reconciliation non-GAAP $XX.X GAAP noncash results. the to other deferred Please million and adjustment

$XX As which was of quarter increased increase is March cash million, cash This hand. consecutive XX, XX. a the balance $XXX.X fifth have from million we June our on is

Now to May financial guidance gross-to-net ongoing the of X. XXXX our and Due we business our COVID-XX on are on communicated across updating impacts product dynamics portfolio, on previous to the guidance.

to ER revenues now the of $XXX to $XXX $XXX the expect to For range million, in $XXX XXXX, assumptions million. of million, revenue product the year. expectations to $XXX for $XXX revenues have up $XXX in the we We million million mix been overall million, would range from Xtampza note, although adjusted, million franchise remain Nucynta down start $XXX from consistent million of and from

manage continue laid As such, to we XXXX. plans entering our P&L we to the out

include EBITDA, million which range which full to we exclude million and of continue in the million range $XXX the to adjusted stock-based of total to stock-based expenses, compensation, expect the in compensation, $XXX For $XXX operating million. year, $XXX

strong dynamics gross-to-net generation our continues COVID-XX business, these the cash was But relates dynamics, and for performance our and Let to solid. portfolio. across revenue it me points. with particularly Collegium summation quarter our and finish QX a was to despite as impact product key overall

For the the are will I focused cash year, turn execute on over generate commercially, our our to structure, Scott. remainder balance disciplined leverage cost manner. deploy to in of now and continuing a sheet we it

Scott Dreyer

pleased second within opioid that for positions of XXXX and a Xtampza Nucynta up manage the ER building market generate for and share grew advancing year. share I'm position sequentially. greater total Xtampza Xtampza year-over-year ER momentum our in XX.X% to late was X% and XXXX share highs fastest-growing XXX,XXX, in QX oxycodone to grow prescriptions of Thanks, has than well Xtampza the the report for accounts the remainder franchise, within further our momentum ER in of ER wins, a ER. first to we Colleen. enabled exclusive resulted were that of There and Xtampza prescriptions, through XX,XXX quarter. to The of ER exited market, the encouraged oxycodone versus prescribers half QX. ER, XX% to new positions of and pull with first approximately the from was and quarter actions continue which strong the total ER and us XXXX successfully strong prescribers exclusive X% cycle X% life very I'm continue a the the versus second performance the once in increase of XXXX. Xtampza up took XX% ER XXXX again second a of we exclusive the and ER achieved quarter. increase total share quarter all-time formulary Xtampza Collegium market

growth XXXX. new well as ER within and Xtampza market toward Similar see continued exclusive the Medicare all to the Part had volume in achieved exclusive to continue and within wins as we wins formulary share growth formulary D. accounts skewed share growth QX, particular, exclusive We in

in the nonexclusive see by and expectations it noncontracted While the our be of to dynamics. and the continued did behind impacted we business, was COVID growth books ongoing

focused the ER nonexclusive business. share growing we're on For of year, of Xtampza our market books the remainder within

were share in quarter. market Moving total the to stable Nucynta Nucynta the and franchise. franchise prescriptions second

second the the and Through execution results remainder stabilize we payer of a strong For the our payer continued the strategy aimed we which the of quarter execution overall improving the from our profitability at year. of strategy, can prescriptions for saw franchise. in row, believe we is execution, commercial of the

of improvement persistent the we've while the Looking uncertainty. the ability seen and our a professionals half offices, care to the Delta variant COVID XXXX, the to some in and physician visits introduces health access patient remains to challenging reps dynamic marketplace second in the pandemic of

portfolio, outlook our confident Joe. a in half rate you and ER look expect the we're calls. year, year, strong to updating progress to the it market the Xtampza Nucynta versus With in prescriptions albeit back be moderated on forward focused a of As to we future remain we that the the half our will of again pain that, anticipate on turn about I'll result, I of first on position and stable. grow XXXX. and at finishing We second

Joseph Ciaffoni

will Thanks, Scott, call and I questions. now up for the open

Operator

Instructions]. [Operator

Our with David first Sandler. question Piper from comes Amsellem

David Amsellem

and one Nucynta one just the So on on then franchise. Xtampza

success you with Xtampza, given I if course the contracts that's correct of the Xtampza on further you're had to In to focus ridding gross-to-net Is or does try rework way gaining situation of Is beyond what ER and yourself you positioning course on a the of to that Nucynta, there do first the franchise? that make be to patients nonexclusive tend you're the with parity that you've to So share the contracts can see and there at other it guess these in suboptimal strategy for all? given economics. are And and shift oxycodone question. improve you with market sense then you to So contracts? any think here, like there could words, economics? given potentially other to some need sticky evaluating? we there And that correct work XXXX more seem your

Joseph Ciaffoni

question. question is take Joe. then Thanks Nucynta. take will Xtampza Scott this I'll for David, the the and

to at and transient. expect Xtampza dynamics believe when by and I primarily you temporary take that back, the and is a we're step COVID we to look, want situation driven gross-to-net, let's seeing look So we be it emphasize,

contracts we'll And remarks, we have that opportunity plans focusing is in mix As it have optimize time, addressing more noncontracted. optimizing we're an up even where when those contracts aside, particular, improving way year do so. then over contracted in said going the for the is we on from we're of business, our prepared to which in XXXX, will and in focus a to deriving the to opportunity contracts. and renegotiation nonexclusive as many on prescriptions be

committed we're we the no to to comment the to later than that on question. I Nucynta And less XX% I'll under is gross-to-net let and XX%, Scott XXXX. managing and expect final be would take make expect So than Xtampza we

Scott Dreyer

Thanks, great. David. Yes. That's

when So that access it's we of we're this really with comes always strategy be want for at the economics it that happy on we have with and us. to the products, evaluate has work in. to can to basis resulted it Nucynta, We execution the our a attitude but for broadest the contract-by-contract what

maintain so evaluating the we from And going If ability we expire. the improve upcoming absolutely, contracts some make access Nucynta will. to situations, contract. they to forward, in we'll we'll And choice economics, have be walk a and as

to going Nucynta. optimize forward there So is continue opportunity to for

Operator

Steinberg comes next Our David Jefferies. with from question

David Steinberg

questions. drilling down Xtampza COVID gross-to-net. just weaker I I resulting on was the of could more guess you clarity. wondering on I in couple if of little have impact a a and provide

you in many make the But so doctor's And if pandemic an So doctor to just works the on years. cash, saying between information I you just more unless give can't as salespeople this that's a office. go obviously, could I are that a the the case, of understand how and on basically little it, physical meetings the the us as have meeting, patient. I And has visits case just in-person that there's can't happen? switch terms can in as M&A. doctor that's build debt know this time the the between up in-person various to patient? the there switch you there a with opportunities BD front could just more be burner forms workarounds long without on then years no for so and well been a for And meeting shifting the if curious, Are and company. you as mean, capacity. And

is Joe, valuations have it or want besides of branch into whole related areas really what that, that to assets you other can sales that there new terms companies, you lost? high to out branching of the would do? find anything sales force fact, you sales can't too some In Or consider fits pain use areas ancillary, on then you at you can you in just just to if same into any a other being have force looking bid would were And force? or you question that have areas you pain? to Are where that besides leverage your a are you

Joseph Ciaffoni

on to Yes. is you take I'm step going first the both I'll terms those. is dynamic And give Great, with the Thank in perspective think for and we I'll David. what what look, do think the little of the of to Xtampza, happening maybe a question questions. in what market. back we

to extended-release impacting, the market immediate-release driven of on off, COVID all And this, an the as opioid you by I believe transitioning of dynamic XX% be portion first So the want opioid. on to patients is and an we extended-release is know, market. specific

care performing a what is changing market And at is total anticipated. the It's you that a which it would products end have If level line roughly year, the see pressure. a prescription expected. and the what you the continuity perspective have of is from it's dynamic this of where of look in would of overall is the where to higher result it we that is market, we new-to-brand than

is is in-person impact believe primary patient off. with that visits physicians driver having is the that Now we

But in is to Now all if a seeing they're it's to specialists, the past otherwise that patient. less pain unable learned we've general, productive an chronic stable But specialists physicians what years particular, not pain their patient the switching in not are over in switch is X.X are reluctant more person. switch patient.

payer not in when dynamic we don't whatever driving the therapy And is physician so them that pressure support the seeing seeing to the the switching they're on ER we're ER person. on where or think the keep we if we're they're seeing patient have where

Secondarily, the remainder it's it forces' would dynamics we the been office some business Now where to year, hasn't make our factor. visits starts we pre-pandemic to of also I able they will clarify always do, on the to we're of And COVID-XX just complete in-person approach. I steady. country. around the front, to what then with and although persist, to And with think really final stops at that, a seeing because at I going were in to Delta our doing progress, do is, level and also the say when field this that variant, think I'm know thing, that development, we're inability It look first okay? is signs as important emphasize off with regards we're we it will

is business strong. core Our

and We growth our a are generating are in assets durable. phase. cash We're

always So approach. going be because we to our are in that, disciplined of

we been been been Now focused we've for the past year and or have so, engaged. have we active,

won't to do value we stage later sense development the And so stage to As also We we assets, not we know synergy where pertains a one we we it thing don't for any specifically, and we your David, feel overpay at? we're have are a from is And going and that what we know makes opportunity. question like what high that do deal. commercial to perspective. to believe

So the to a shareholders. we're company do looking really sense for deal makes for and that our

in building that to lower of areas, to we we refer wouldn't in into force, or on bring we we be reason those us adjacent synergy our And is we've therapeutic as areas. current would leveraging so which where out what but call X field And those synergy asset. we're effort our stage expanded force at to focus taking would field be because the lower commercial a scenarios, support acquisitions,

realize synergy believe not I we acquisitions. sense other way look did say in Collegium. would I not for we our think to the but get at, neurology we call, on because and it reference the going but to some do I'm not or into So and would inclined we like makes of get would adjacent areas And types would I'm last into

Operator

next comes Our William from question Tim with Lugo Blair.

John Boyle

This on Tim. is John for

on updates we just you was do the I that you ahead discussions are upcoming variability reached forward? a in any on could So And still another think season? has of you some contract moving wondering the point payer stability should of going how franchise franchise feel how if one see of seasonality give do or the the Nucynta, about

Joseph Ciaffoni

Yes.

Nucynta. I'll question Scott the let then come back on discussions John, and on So payer I'll take the

Scott Dreyer

All right. Thanks. Thanks, John.

right only exclusive we'll for new more update at give nothing opportunity have as contracts a here, on will for sense what as then wins and Joe XXXX And now. we're are point we lot call no, now looking do, as that additional November reinforce we trying is, and Xtampza, it we a we're or alluded exclusive. for enter typically a may earlier new accomplish, wins year. being right? we But report in made to strategically some makes run you and to the to the into an edges on thing that to related the But the greater parity wins We're second decisions then opportunity next we XXXX. enter place a still parity in sometimes I have but the selective, optimize and when year of any for to half of as So

Joseph Ciaffoni

that's our expectation the position it remainder when pricing downward prescriptions may do payer first some in the stable as of quarter will to be for basis, is pertains the contracting think where the expect year. for deductibles our but strategy, pressure Nucynta, that John, we a And you be will see on year. it by the the of I changes reset, prescriptions, offset we franchise on basis this see candidly, dependent and would from remainder is of with upon Nucynta space expect it now But which able revenue the stable relatively to relative access going-forward to significant we'll of for deliver why the of to exclusivity. don't through Yes. in On anticipate a XXXX, Nucynta. what loss to Seasonally a be sequential I reinforce, remainder we and

Operator

Rohit next with & Our question Company. from comes Bhasin Needham

Rohit Bhasin

is par for This Xtampza the prior challenges, the wins for the on recent most for Serge. of penetration those the the with of change? next on Is does exclusive set Rohit given in formularies And strategy years? formulary

Scott Dreyer

Rohit, for the Thanks, Yes. question.

year so nonexclusive has is. COVID. And the exclusives in this in typically issue alluded So we're up books our yes, been that or to, we is overhang as of as of performance the strong the against because the business as it just performance

wins. of selectively XXXX that, and strategically, the winning continuation we're strong, So result both accounts. wins And XXXX is the of new a exclusive focused as on performance new still

Joseph Ciaffoni

contracts and emphasize, as is think thing for when term. you which we the at gross-to-net we on from one said the forward the share I managing than optimization gross-to-net it's of the I of brand the to less think would are dynamic. a expand pressure to transient. market we we committed the position seeing, most Rohit, We confident temporary important this to moving a prepared that Xtampza the my in thing perspective, COVID And continue continue a we're remarks, expect one to through are long of do, our XX% And and in and think we

of So share the excited encouraged and we're position and market the really Xtampza. about

Operator

Truist with from Fraser Greg Our Securities. next question comes

Gregory Fraser

business to can growth the overall Xtampza, mix your but recent share On if curious relative what the I'm change, driver expecting. on of is trended has prescription of It sounds kind primary lagged how the expectations? you're has growth for comment like guidance you share

Joseph Ciaffoni

Yes, The that's Joe. in with perspective where we're challenge mix and from. is share to would that that Greg, from coming we're this Xtampza experiencing line more say what is I seeing a expectation. is

Gregory Fraser

it. Got

Is fair it second the revised the that volumes say business the pickup for to of and a not Okay. does outlook material assume books half? noncontracted nonexclusive in in

Joseph Ciaffoni

Yes. year, books seen I this would say, progression across all business. we've of look,

expect But would the see growth calling sitting So as look we to what's it's right to through the with remainder now, country. Delta say think year What variant, remainder the of that or of year as planning the we this think on returning today COVID that of the I persist. we recently the out year. going necessarily started XXXX, look, around reasonable the we we're new to here even expect is, dynamics half be and our on call, that to And we when aren't and expectation in as a happening. would don't the to we last back normal

Gregory Fraser

Understood.

pandemic. post-COVID think environment? how Okay. ahead this in expenses, a potential hopefully, the on And you've growth Thinking a during really beyond normalized, done managing spending a job more year, good OpEx about should then folks

Colleen Tupper

we cost this that our we're the is continue for operating question. had. would Thanks Greg, Colleen. leverage expect structure as to I to going

those managing our will structure. stable levels see this as see to we of things as leverage be continuing but to operating and some year expenses will fairly we started open You to up, return

Operator

H.C. Livnat comes from with Wainwright. Oren question next Our

Oren Livnat

you obviously do totally patient second in couple. a books that driving script that starts you switches I adoption books. to couple said nonexclusive have times focus But very when likely understand in the the patient down. in on those also in less are plan half visits are and I a

how question. second you you in a do haven't first I do have done you differently half? And So that? can What separate in do half that

Scott Dreyer

Yes. question, for the Thanks Oren.

do we focus how commercial the have. that that So is we

new materials. So we've launched

some the have content need new abuse-deterrent marketing messaging to create we're technology. a differentiated for putting We new some the marketplace, into

the in of the we're front we to when messaging to of through physician business. get and it's So live, books actually growing focus differential able get that that nonexclusive

Oren Livnat

not, Okay. patients either I'm starts patients switched successfully guess ER. either, docs there's or who with I have just have from face-to-face because And say, physicians of or to I've point a or now new where I've just to Xtampza coverage, had had exclusive moved wondering successfully patient plans enough with ER. XXX enough exclusive comfortable switching more get if patients I'm do I of switch experience When their over well, that because because and or had ER and comfortable new visits not exclusive tipping to okay, and and

lives pushing more or why So wouldn't they be nonexclusive over, COVID not?

Joseph Ciaffoni

Yes.

been So Oren, That's Look, it. we've scale so their their has and can clear for get this strategy, at of from I not our physician an that asking get really that access payer very get to appreciate to access importantly, of physician a patients. their ER and day, you but is Joe. get position, staff all is as the a patients, to question, experience Xtampza end is enough exclusive in of they life a all great the every the and experience perspective,

over? just with is is read you or not growth Hence, it seeing have, not to the or is an stable driving we're and what relative exclusive expectations when switch. of able to spilling than encouraging the issue patient all in specialists scale nonexclusive lives an is with position, And which noncontracted often that person. COVID dynamics for have get because on to to Now contracted isn't the why pain want what it, a clean where in been they more pain is roughly fact, the we're access in conversation the upon chronic payer patient, otherwise our have switch they not the what the we with patient, physician this year, in XX% touched of of

our a So what hoping read that's question, effort. commercial as your to we're on something the half clean to of the focused to we year that's the on half of second get of in in back first But the to, were terms alluded year. Scott

Oren Livnat

big COVID do patient it the So half? just or up hoping penetrate I than year. that would bolus you of had do to we year you curve a you a in I'm organic without do a to growth this wondering, tomorrow past and have call on We If guess that once lives. if a coming growth we little follow I'd steeper was still saw deluge slog we And that. think got into in nonexclusive would be second initial last COVID exclusive that were of could have you bit narrative because you or of the market would part think the seen visits, I ended think business. more see dynamic it

Joseph Ciaffoni

Yes.

So question. But return would focused It's in expectation non-COVID normal as a environment, we are of never our a world we've even great And noncontracted we the were talked is see contracted nonexclusive to and belief that on our and or have new would we both if of another business. books mix. easy. about, in more we believe is, progression

and are as we no I'll at managing later less of and of that do would than we have through absolutely optimization and also, opportunities committed Xtampza again, gross-to-net to in We XXXX. emphasize contracts a we than XX%, the

we address impact it, make we in books But will view structure having have of than to to to the to weren't would opportunity ultimately, can And optimize. commercial an be ensure final call. would of able but able were that case and to effort, believe need have if will. that We impact XXXX gross-to-net we less have But I through that clean lot XX%. which to we see our believe a we business need those to of cost we we be a not of were a we make, I in do point our the we to find

Operator

[Operator Instructions].

comes turn with question next I'd Our Folkes Fitzgerald. Instructions]. and this to floor lost the from we [Operator line I no closing for like Brandon further the Cantor believe on seems any over to management there there, back at remarks. are it questions time. Brandon

Joseph Ciaffoni

of position strong, attention. fundamentals your the is in The XXXX. encouraged for all company. by portfolio pain you Thank differentiated overall the first positioning performance I'm of and are the Great. of financial our as half our

the and forward on for are priorities year updating look value progress. creation. are and the on great of Our a we to our focused growth Have I you remainder evening. clear,

Operator

gentlemen, today's concludes and this webcast. Ladies

now time. day. disconnect at have lines great this participation may for you your You Thank a your and

Collegium Pharmaceutical (COLL) 7 Aug 212021 Q2 Earnings call transcript