Earnings call transcript Q4 2022

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Operator

Greetings, and welcome to the Collegium Pharmaceutical Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.

[Operator Instructions] Please note, that this conference call is being recorded. I will now turn the call over to Christopher James, Vice President of Investor Relations at Collegium. you. Thank

begin. may You

Christopher James

Officer Pharmaceutical's I and Joe am Officer; Chief Chief Collegium Commercial our Earnings Officer. Ciaffoni Year Conference Executive Financial our Tupper Call. joined Colleen Scott Fourth to Dreyer Full Chief Quarter XXXX our and Welcome today by

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

we such are cautioned that or current statements You able products, expense uncertainties, and pertaining may including litigation not future that may may without that to our risks not forward-looking the prevail we business. involve commercialize our significant that risks in limitation, successfully to be and incur we and

company These detailed the and risks Exchange are Commission. filed in the of other with risks periodic reports Securities and the company's

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

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

find can our including relevant collegiumpharma.com. press our release, on at website corporate non-GAAP reconciliations earnings You

turn now Ciaffoni. our CEO, will I call over the to Joe

Joe Ciaffoni

committed quarter discuss Thank performance joining the building leading year with serious in will Good we improving focused everyone during conditions. Collegium, you lives are for to our company you, medical Today the diversified XXXX on we a the achieve afternoon Chris. call. and year a banner and thank and of specialty fourth people share to full our strategy XXXX. living pharmaceutical At

meals weather shelters to charitable STEM providing where We support chronic with continue quarter, live we housing. and education to donations and clothing we warm critical living organizations make and fourth and to the and communities people illnesses leading neighbors emergency to initiatives, serving During work. the

serving to corporate In report. we inaugural a dedication responsible of our long citizen, publish standing Collegium’s as ESG recognition

our business, for our as of and I'd and of and health in while proud to of wellbeing this milestone to a commitment integrity, our accountability improving deep our Collegium it team work. place responsibility thank operating all their to our great mission, with the to facets are making reflects communities. We commitment for like

EBITDA. XXXX a financial exceeded accomplishments BDSI, leader include, in management. the commercial of renegotiation key the portfolio record XX% of has We all in million. Key of of the resolved Collegium. our adjusted successfully our we been pivotal run completed synergies rate net those We approximately was to industry-related company lawsuits resulting an We each net year and financially brought and in which against target $XX and transformative Xtampza the achieved XXXX. objectives. XX% delivered pain in of expanded all as $XX ER dismissed. XXXX strategic establishing nearly revenue our We've opioid gross for to lawsuits million, responsible contracts of full XX year We achieve through of Collegium acquisition expected

upheld of the announced We claims were validity the patents appeal. BELBUCA on protecting of certain

capital product delevered a XXXX. We to the achievements balance sheet be banner position. These our the be Alvogen expect with for barred returned entering from while XXXX to until cash that And market and we year. the our shareholders foundation building its will lay

create top capital significant for to deploy and line long-term growth strategically bottom expect shareholders. we XXXX and to our In value

and over XXXX adjusted half over expenses. one times and EBITDA by Our guidance operating includes financial revenue, adjusted a two growing times

financial in action laser our agenda. our deliver ability remain our executing confident objectives. to and are three on We on We focused phase strategic

renegotiation contracts. integration Phase of and completed X of ER and generate The accomplishments seamless successfully XXXX, Phase key X momentum. BDSI integration were successful the During we've efficient the Xtampza

and bottom immediate guidance, net growth to acceleration we on a XXXX year X of of BELBUCA of year lower our gross net and January, basis XX% growth Accelerate. Xtampza ER see full Consistent line forward. launched full structure. Phase we Xtampza synergized committed prescription ER cost managing propelled less and the financial with in by an to impact going the to than gross top are XXXX We to expect This to

a We XXXX are banner excited year to for make Collegium.

is Our two And thus pronged execution strategy. strategy clear. our is

improvement, that result We are of and through And pain critical the of potential two the focused Xtampza and BELBUCA on structure, ER expect we portfolio synergized to priorities, our growth. by potential will immediately year and We ER we Nucynta commercial franchise be deploying cost accelerate the revenue of anticipate fully contributors. plan new to net our full steady execution. our maximizing SYMPROIC capital. We leveraging on a portfolio and gross a expect as to Xtampza basis pain maximize strong prescription

With our focused believe deploying flow priority generation potentially are financial The is long-term capital We on conducive we create to current and done. deal development. cash current a conditions to strength value. top are market getting business

approach. We are and our will in remain active, engaged disciplined

of on potential $XXX million. exclusively opportunities with stage over peak focused are We commercial sales

Importantly, differentiated we are with XXXXs. that runs the assets into looking are exclusivity for that

program share to to committed are to using and debt down We our rapidly shareholders. capital repurchase return opportunistically paying our

Although to are XXXX a it early, be Collegium. we year banner encouraged confident that will and by are for start the

is strategy and organization and focused is on our Our execution. aligned clear

and shareholders. for strategic value We are committed our creating objectives to achieving financial while our long-term

call the the hand financials. now Colleen over discuss to to will I

Colleen Tupper

fourth million $XX.X million deployment financial XXXX. record capital quarter Collegium. and for strong for fourth were our year indeed Thanks, on Joe. fourth maintained financial XXXX Good cash pivotal the execute leveraged full to revenue the net quarterly the EBITDA, year quarter our include a adjusted of strength to for marked everyone. for generated record growing discipline full Financial highlights compared We and XXXX a year by flows revenues quarter and was afternoon strategy. $XXX.X and product

prior a compared $XXX.X XXXX net record the were product year. revenues million to million in $XXX.X

XXXX adjustments the and disclosed matter. a we resolution reflecting million to fourth previously year reflect the returns during $XX.X the a complete positive full As with million $X.X adjustment our XXXX, while returns a matter of achieved negative associated resolution quarter related

million in fourth $XXX.X months million the BELBUCA. was nine and quarter net XXXX $XX in BELBUCA reflect sales XXXX. the Collegium owned revenue

million was Xtampza to Xtampza $XX.X For was quarter net ER gross and the fourth XX.X%. of ER revenue XXXX, net

Xtampza For revenue gross was net to net and ER was million $XXX.X XXXX, XX.X%.

the related the to Excluding returns been XXXX resolution would ER of have matter, to gross XX.X%. one-time net the Xtampza benefit

Xtampza out ER net gross between XX% We to successful be a expect XXXX. to as renegotiations the XX% carried to of result we XXXX in contract in

expenses in million the XXXX. Nucynta quarter, franchise to million was in in million $XXX.X quarter and in fourth revenue $XX.X operating fourth $XX of GAAP quarter, XXXX. $XX.X net compared fourth million the were the

were to compared operating expenses million XXXX. $XXX XXXX, GAAP For $XXX.X million in

fourth $XX.X the in compared XXXX. fourth to $XX.X the quarter were Adjusted operating expenses million quarter million in

to loss adjusted were For fourth Net of the the to compared million of in XXXX. XXXX, $X.X $XXX $XX net loss operating for was expenses XXXX. million for $XXX.X quarter quarter million compared fourth million

XXXX, million For $XX.X in net income was of loss $XX compared to XXXX. million, net

earnings GAAP loss share basic $X.XX in the $X.XX fourth EBITDA per diluted million $X.XX $XX.X and quarter basic $X.XX basic record GAAP for in million fourth per versus a and was versus XXXX. diluted the a Non-GAAP record $XXX quarter GAAP XXXX. of adjusted XXXX XXXX in the share XXXX. in basic quarter and $X.XX, diluted fourth share GAAP of for per loss and was and share diluted per of was loss

XXXX. non-GAAP Non-GAAP per loss versus fourth adjusted $X.XX in of was share earnings the quarter in per share fourth $X.XX the quarter

$X.XX XXXX. earlier non-GAAP see GAAP release press $X.XX adjusted today earnings reconciliation was XXXX results. per of to for For in Please our non-GAAP versus share a issued

As of December XXXX, $XXX.X our increased million. to cash balance

of We leverage the times two the quarter, to in year debt with million net debt. During Collegium ended $XX adjusted EBITDA. paid down net

adjusted in quarter financial We expenses, financial and our our with the cash of goals at XXXX We pleased three are our the performance increasing position fourth times exiting the growing XXXX. more rate year in for strong than with strength. revenue operating achieved

are for our guidance We XXXX. reaffirming financial

expenses million $XXX We Adjusted in to revenues to range the range $XXX range expect $XXX in $XXX million. EBITDA net million product the of $XXX $XXX million the adjusted million to and of million. of in operating

guidance and our maximize supported our Xtampza is of strive the our portfolio. growth ER as contributors fueled we to and Our BELBUCA by pain XXXX Nucynta potential SYMPROIC drivers and by key financial

Our creating for capital focused is deployment on value long-term our shareholders. strategy

approach and potentially a is we Our transaction. is are disciplined that market committed a a business top to development, in priority conducive to taking

integration position, have we the to in the complete on financial of execute acquisition. potential our BDSI a strong ability With

are million of We $XXX.X us at rapidly net committed in debt debt at repay to deleveraging sheet we're which our to track on to EBITDA XXXX, year-end. put X.X than would times adjusted balance less

Our our cash a testament ability strong generation. quickly to delever is to

by return initial of our of program to program. ability our share the authorized the Since have capital to opportunistically XXXX. leveraging August in repurchase repurchase shareholders we our board inception Finally,

authorized board capital $XXX returned $XX million a includes in program $XX.X which repurchase January capital returned share in to XXXX, have our million. XXXX. shareholders our In to in We new for shareholders, million

net the from the approximately in we deployment to the good convertible million As very corporate strength pleased implementation debt. partially of XXXX. purposes repurchase our the the of a we stock are our a general management proceeds recent of Overall, used proceeds weeks a maturity given a our matter financial ago, Convertible due with notes net of remaining senior provides capital with use later $XXX.X of just XXXX, note in and offering us completed of February financing maturity in of more with million the $XX to strategy. including flexibility million in and hygiene intend few we our XXXX for our corporate performance We $XXX.X

We and banner are positioned are in strong XXXX a for financial and are standing year. of well growth entering a phase

over I will Scott. it turn now to

Scott Dreyer

Thanks Colleen.

ER Nucynta market. the ER is Our of strong. have brand's XX% BELBUCA commercial a share combined portfolio Xtampza ER

have management. positions. leader products is responsible pain large market Collegium and broad pain the in Our prescriber bases access

Our by pain HCPs. portfolio favorably viewed is

a growth and The strong are grow and year market on and Xtampza as full positions we our products. drivers basis completed work ER in highly in differentiated ER increase to seen share to BELBUCA XXXX HCPs Xtampza Our XXXX. intent BELBUCA prescribing of a and prescriptions have

and interactions educational These differentiation the year, ER portfolio to sales actions new promotional BELBUCA. use new include and prescriptions. pharmacists. is BELBUCA and our digital our to taking number during promotional which entire resources and our campaigns clinical non-personal priority reinforces and HCPs differentiate growth. the Launching one for fuel Xtampza with to is actions organization content, teams of grow following; commercial The ER and specific Xtampza This launching

ER holding they formulary and positions Xtampza payers where sales clearly And exclusive. through Launching We're controls new to understood, ER that BELBUCA. is supporting stronger strong meeting and Xtampza of March. is as ER personal promotional ensure national the enabling access Xtampza non-personal a value pull tools of the in

our will goal the of bring strategies messages strengthening brand to engagements. reinforce impact customer and of the entire organization We their together with commercial the

strategy the we on to positions payers with and is working with through have focused The BELBUCA. commercial that ER organization for pull Xtampza winning access begins care. managed and The strong

successful the wave as of net of gross following below ER, going Xtampza can to payer new for to relative completion the to below we're ensuring and to prescription drive secure catalyst addition looking In XX% wins, contract forward. serve gross growth, renegotiations while first opportunistically to XX% a net which

successfully to of the which renegotiate represent about plan expiring all prescriptions. We this XX% ER contracts Xtampza year,

ER, clinical access profitability, has maintain to demonstrated these Xtampza time. is that leveraging goal for over Our ER differentiation Xtampza while plans the improving to

priority to difference Xtampza addition better and BELBUCA, of to access pulling broad our I'm payers warrants level broader that of engagement so of by differentiation engaging patients. discussing Part improve payers We currently is to Medicare products in have the BELBUCA And a high a in of to the clinical the level we're with access the with Medicare within path For through can coverage We Part the engagement believe D. clinical bring and commercial far. patients. encouraged for value both D. BELBUCA find actively access, to

crystal will agenda priorities care. grow BELBUCA are XXXX. In in that in clear, achieve Xtampza and phase of in confident accelerate our closing, our we win X XXXX managed and I'm action

call the back now turn I'll to Jeff.

Joe Ciaffoni

Scott. Thanks,

strides I'm significant we Collegium a medical specialty our to people making of diversified conditions. pivotal living for for strategic execute by be by are of banner the a lives start marked I'm with build pharmaceutical agenda, we improving leading accomplishments. XXXX company as We Accelerate. a several serious year committed the that the year and as XXXX will confident on financial phase significant of action Collegium. X encouraged year was

up for call I now the open Operator? questions. will

Operator

Instructions] your Thank question first from state David [Operator with Piper Please comes you. Our question. Sandler. Amsellem

David Amsellem

thanks. Hey,

a had couple. just So

you're beyond you continued Joe, about not affect this a first Part us they just for better how the new renegotiations mix guiding renegotiations using D? net they of could gross I'm understand contracts question. is of to it from renegotiating that they and So much what get both? Xtampza had and Medicare the So plans XX% what kind give but current with that's going trying you're the better that refresher I'm what can Are are to? commercial, Are continued payer to to regarding XX% on first, And year, talked forward?

second And is development, M&A. question then business the on

question So far on would would So pro de-levering? about commercial would of a like? how to EBITDA execute one acquire than more debt much asset? I you talked or have is, acquisition you to Thanks, stage the you So asset how net up an a forma here to, Or to what on the go lever asset? look

Joe Ciaffoni

thanks David, hand take the to the off for I'll then Colleen. questions. first and the second one,

to we're strong to contracts secure be renegotiating Xtampza year, really to. following wins, net for this comfortable to to additional to headwin that with along and what do rates an regards obviously, stay below at now ER that in than And have that renegotiations we So ER, in of where We're trying we the that wins we'll made going gross secure on Unlike renegotiations year, a XXXX, forever Xtampza get XX% that account additional those this with with prescriptions. the focused last less to reason. are have we're that this not to year, with committed XX%, or addition lives, for additional that new XX%. which threshold year accomplished we is commitment we an to the XX% we

relative balance to will way in able of we new it we have Colleen. didn't So or part of it what the this move to wins, questions, achieve skew renegotiation. the wins the be If benefit, net to to then to plans, And commercial accomplished think a our we positive new then is, impact to contracts gross achieve would any we're as on we're to about certainly if a your and net final in year, the XXXX. renegotiating it

Colleen Tupper

David on question. the Thanks, leverage

we do to the So to of debt willing times. be in we to would then, in delevering up I seeking a four of commercial thereafter. like EBITDA net stage forma go then asset, And imagined, playbook pro quickly

David Amsellem

That's helpful. I versus say On the net the to to you're that wins it, could Can growth? I trying Joe? up, your the it the on is in sneak a just and that comments on mean, gross I renegotiations? on is that, follow see here? could XXXX. a next we based with scenario some net what greater new regarding year help But to where to outcome drive gross stability plausible volume that accomplish is one there's mean, fair

Joe Ciaffoni

leader the with contribute people Yes, Look a a which in a in certainly pain deeply and way Xtampza make difference responsible that's possible pain believe positive in can David. and lives products making living meaningful that management, a difference both as the of are outcome, opioid to BELBUCA, epidemic. in a we with

that catalysts there do to case their RX in be in will from are successful a impact case for there And We can in D catalysts that ER, are we're still and there of Medicare certainly forward. Part broaden growth XXXX on an and the everything on also positive moving basis, wins, we for room there XXXX secure is able believe very to and to of where if Xtampza And we prescription access would positions. that able beyond. have growth BELBUCA the

David Amsellem

you. helpful. Thank that's Okay,

Joe Ciaffoni

Thanks, welcome. David. You're

Operator

state Our with Blair. next question William question. Tim Lugo Please your from comes

Unidentified Analyst

Tim. XXXX and our for an and Thanks on [Ph] question John XXXX. is on to this exciting a congrats successful Hi, for forward taking looking

bit Can the how know required BELBUCA recently talk up the franchise efforts Thanks. to growth that some us going BELBUCAs education to you growth those efforts you a around come through are just been ramping see XXXX of and how I those how as of together? you've So additional little about profile discussing accelerate franchise. is

Joe Ciaffoni

question, answer. Sure. Thanks for to to the John. going I'm Scott ask

Scott Dreyer

thanks, Yes. Yes, John.

similar in what reason learning sea to your performance the we went lot of year heading, under get was to, there trend look at brand. where quarter disruption, believe And what what on acquisition like to positioned XXXX full a growth. when articulate So last we through related a is, we're legs I our and we’re say lot call, year the I'd around is a with BDSI, starting is the to of And kind comment of fourth we're the for and the training we basis of us.

reps their comfortable people our Our territories; are with sales stable are in brand. the

can And with on taking some for see BELBUCA. those why combined reasons, commercial we're the XXXX. basis, year actions for That's we other believe in full a we growth

Unidentified Analyst

that caller. so right, much for thanks All

Scott Dreyer

Thanks, John.

Operator

question And question. from our with Please state comes Brandon Cantor Folkes next Fitzgerald. your

Brandon Folkes

details the and thanks a market. headwinds and you growth market and BELBUCA Scott, we Can Hi, for see of XXXX. see congratulations on for the the questions think OxyContin Xtampza year, in drivers. how I beg this just progress the elaborate to continue branded my you addressable the evolving? on all Xtampza prescription ER pardon thanks taking the

So guess, view just you year market, any how of color out going this there with maybe and and forward. BELBUCA just in checking Xtampza the terms overall I

Joe Ciaffoni

Brandon. Yes,

on start of that important and to the So at is continue next at and is when emphasize of five When I we both market look over moderation to this the believe perspective of look I'll brands the the would mid-to-low Look, is we may grow. Xtampza we digits. think the market going the within to differentiated some we plenty years, out decline start see we BELBUCA to then that Scott additional to you'll single a for Joe, these have when thing ER there first room provide. that

is pain was pain pain have who and which be that to isn't fifth continue approaching will now the I intensity we nature of be called we vital was be XXXXs, use going number a when of out the of opioids think the of are for the as strongest piece of would to that of of sure early therapy. What cornerstone chronic people support high evidence change upon unfortunately, a where the to significant know sign. opioids would which experiencing

market, you on So portion product, in Butrans schedule perspective. from of then as And from OxyContin are buprenorphine portion ranging differentiated believe and of a, we relative are not we the three a a the is particular dose replacing focused utilization concerned BELBUCA the is oxycodone know, growing. certainly we market to

think the are for So continued growth. we dynamics there

Scott Dreyer

biggest it, IR is think patients I that the other IR still and you pool market, the feeder BELBUCA growth the add Xtampza the a pain. is which hit large, Yes, in their many The for thing to ER transition to with reminder very of Joe. only both is being treated I'd

there's opportunity us for tremendous So to grow.

Brandon Folkes

very Thanks on touched over follow that to for very me, you my asset thank or up, actually expect all you you to much. evolve it. coming and of and That's at years But going kind pool feeder much. the do be change the

Joe Ciaffoni

No, I portion market. the anticipate any don't think in dynamic changes the we of

Brandon Folkes

Great, thanks progress. for

Joe Ciaffoni

you. Thank

Operator

Belanger Serge from comes with question Needham state Company. & your next Our question. Please

Serge Belanger

Hi, us. a for couple of questions

on it's all, market First of maybe unknown dynamics. recent

think a unfavorable visits to for pace I one slower of kind an headwinds XXXX office most that mix. of of was of them a business led

third in And that targeting, changed you quarter. that that the you still you're take pick pain talked that the the should terms early those off had you Just has assets. if you areas about? the assets you're categories in therapeutic to expect But over as Thanks. that they remaining of still transaction do in space? Are could we looking look a curious of for fourth -- kind that boxes front, off

Joe Ciaffoni

could you I'm two questions. sure coming this, you a clearly favor you and not got if me your Serge, Hey, I we and apologize were out and do Yes. in were for

if So repeating mind them. wouldn't you

Serge Belanger

Is the I'll first this with start better? Sure. one.

Joe Ciaffoni

Yes.

Serge Belanger

the market first the so Okay recent dynamics. was about one

unfavorable that improvement a headwinds plans was leading mix, an XXXX visits slower to to Xtampza improved the and embedded pace, BELBUCA. office of cause an business in One if has and is whether of grow guidance pace the and in in the

Joe Ciaffoni

Okay, Scott, will take that.

Scott Dreyer

Serge. thanks Yes,

the market we But think we since terms what's seen So, I I that's talked, patients returns. so an in of mean the look, important last just we play. haven't is, time improvement no,

we're and like the this internal around And market, any from that, sort is in. And focused our guidance on view guidance, a commercial but the on people behaviors. doesn't market no, control. we it of play right? of external standpoint, return We your as just we focus We're factors factors that's and really focused changing now of the our not around the type question execution can't of that contemplate

we'll happens where externally. monitoring that's So and keep focus is, our what

Serge Belanger

question was the And question talking…. on BD, second Okay. the

Joe Ciaffoni

you Serge broke Well just out again.

Serge Belanger

[Indiscernible]

Operator

way. could pick you get Maybe handset? we'll that up Sir, your a sound better

Operator

Okay, we're Mr. the to Thank next [Operator Belanger. going move Instructions] you. on question. to

Please, Our from next your comes Truist. Greg question. with question state Fraser

Greg Fraser

Hopefully for can hear guys, the gross you year-over-year how Xtampza me Curious, positive get do taking growth? believe BELBUCA. full you think okay. mentioned can positive how initiatives questions. quickly for Xtampza and to the for prescriptions? back thanks behind When You Hey, do prescription price return your you the long? the year Or could you commercial the growth to

Joe Ciaffoni

this say Both Joe, prescriptions I'm that. Greg, XXXX. is would basis. so year grow question. I Xtampza Yes, is and not Look, I believe What on prognosticate on in will full appreciate a to ER we BELBUCA to going the you

in As to I'm in point, by there's say start in prepared we're off surprises. I my said expectations. And I to our encouraged tracking no Everything this line XXXX. is at the would remarks,

Greg Fraser

Got it.

level next and about you maintain party initiatives contracts this beyond? the can the to for bit as more and below a year certain you for add help try And Are Okay, talk BELBUCA? coverage they us that lines? to gross party you will span will you a sign and thinking year net

Joe Ciaffoni

pass Yes, so that to I'll Scott. question off

Scott Dreyer

Thanks, Yes. Greg.

see great when the so that. at product. people pain is it's And a Part net. So I access an look avenue [Indiscernible] did BDSI as managing the both for is we've mean, and D this this What BELBUCA for to acquired, responsible that gross we managing need yes, management portfolio job leader we to And very straightforward.

Right? to conversations it the of see connect with it's we go. buprenorphine differentiation of cycle, would when So to engaged in controllable win plans it are that would versus clinical telling don't that the the payers, gross we And we're [Ph] story So XXXX. believe mid there. patch. a see we're that's those and as overall, your those where that the something in and one to in happen If we early, can we'll be BELBUCA do way for question comes it

Greg Fraser

CDC Okay, for if I'm you. my boost think recent question will prescribing, and the opioid then curious you those prescribing recommendations just last Thank whether is not? on recommendations help or

Joe Ciaffoni

Yes, I Greg, the look, question. so appreciate

think care in guidelines as look I commentary pain are of step physicians see the treatment as we're what's back at I'd glad the patients our most CDC they there, the a so providing who of the the I that. give on there's is, that it any with I most comments keep is for see experts responsible to what the possible, perspective and that business impact patient think focus and of result important a necessary them to don't way living impact for from clarity and and original would we'll the guidelines, treat the and

Greg Fraser

you. Thank it. Got

Joe Ciaffoni

welcome. You’re you Greg. Thank

Operator

no Instructions] you. Thank be Ciaffoni the additional I’ll for to remarks. floor appears questions. hand [Operator closing Thank There Joe to you. back

Joe Ciaffoni

great updating you. call forward everybody I joining And year everyone on for hope the our the evening. that has look and thank throughout Thank today. to I you progress you a

Operator

And a All with conference may conclude today’s great parties we you. evening. disconnect. Thank that call. Have

Collegium Pharmaceutical (COLL) 23 Feb 232022 Q4 Earnings call transcript