COLL - Earnings call transcript Q3 2024 | Collegium Pharmaceutical, Inc.

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Operator

Greetings, and welcome to the Collegium Pharmaceutical Third Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note that this conference call is being recorded. I will now turn the call over to [ Danielle Jesse ], Director of Investor Relations at Collegium. Please go ahead.

Unknown Executive

Welcome to Collegium Pharmaceuticals Third Quarter 2024 Earnings Conference Call. our by Founder our our and Officer; Scott today Chief President Chief joined and Officer, Officer. Executive Chairman; Dreyer, am Mike Interim Heffernan, and Financial I Commercial Chief Colleen Tupper,

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

that synergies may realize plans cautioned involve the risks commercialize not businesses and our the company in of company's our to able or recently benefits completed are and though may integrated statements the You are such the related filed the Exchange of to periodic may ability risks be opportunities so, risks business. Securities doing we anticipated successfully we uncertainties successfully related to of current that forward-looking future limitation, incur not Commission. and with without litigation will detailed risks to in in to significant our other The that Ironshore. These risks risks pertaining including future not and the products, risk that expense and the Ironshore. we reports be acquisition for and and prevail

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

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

reconciliations call website on Heffernan. President You can over CEO, Interim corporate non-GAAP Chairman, turn press find our and our relevant earnings collegiumpharma.com. I including to will our at release, now the Michael

Michael Heffernan

serious during business, discuss update the thank Collegium's for including and provide our will an call. we Good the the Danielle. and quarter afternoon, joining you, everyone, very third Thank record financial performance specialty on Today, you, successfully have with company At our of pharmaceutical conditions. a we committed diversified leading Collegium, we're that people search. improving living to focused medical lives on building the news CEO exciting completed

we embark ], APM to of its our Therapeutics completed Ironshore [ product welcome patients the employees mission improving the commitment dedication I'd a the on to journey life and continued acquisition of next strive recognize to commercial of the ADHD for of during our positive and of we the STEM well as we're community. We by advancing do to Ironshore as to like communities the our Collegium quarter, to we and the generation excited This and their impact driving making in team serve good team do education equitable access lives we leaders. science and on to

Collegium's reflect operational Our third results and execution. quarter strong year-to-date

to the cash deliver commitments of pain growing on including growth year-over-year APM. progress commercial portfolio financial our third enabled ADHD, XXXX our updated system people growth X proactivity revenue basis XX%, for and years stimulant in our business of generate of flows its of significant to XX% We XX% on treatment growth, a track and The disorder, in drive strength age product our integrating to robust of and nervous attention adjusted and pain bottom We've operating as continue line are top and following revenue and significant acquisition financial Ironshore, on Ironshore. with successfully total we closing made EBITDA the and central older. doing acquisition the our Ironshore quarter. The of in of or

the to is commercial expands pain into the early APM million the and portfolio balance exclusivity focused commercial our pain into business beyond the XXXXs. an and the product and an Though portfolio growing on expected we for of growth September Ironshore So to year, net maximizing generate acquisition XXXX, Journey. in excess is driver path that market the our integrating the and while highly growth for leading has growth closing and of a in APM the are maximize Ironshore and large presence become differentiated ADHD, potential poised in is developing to collision. Since diversifies of revenue and revenue asset $XXX significant

We our pain. business will identify in also continue therapeutic our build expertise us development beyond area new a allow efforts assets to that to

he right our on organic as continued beyond. In for Horizon's building international to growth and him makes Collegium and acquisition, growth. As its its right Disease is Amgen, of led quarter to Rare experience of with to we are the is in are business of spanning effective our deliver success business an aspects both on and our to search XX top closed we related out year, new the of we objectives industry, confident many announced the fit of leading strong Executive positions phase November [indiscernible]. Prior He look and well of biopharm to leadership Karnani and objectives, and phase, and the growth to XXXX and success proven and development. medical after line on Chief convinced a excited with and welcome development. including and more rapid holding lead is recently, process, With he demonstrated CEO, business in Global a across is close establishing Horizon business our that growth their to Executive the years various to Vice Board positioned and strong than numerous Medical and third organizations CEO, positions of as presence maximizing Most by the Officer as all will acquisition affairs development. Vikram XX. held including strategic expected next skills Collegium of XXXX that, bottom expertise Operations leadership Collegium. leader This commercial, in Horizon at the our in leader deliver we right Ironshore President, lead Commercial the growth in President Board, Amgen's are enabling strategic the experience commitments and we Vikram member extensive The strategy, markets. financial and we XXXX, the through beyond. After Therapeutics Vikram expanding very business, which potential to

Belbuca, in payer generated expected by XX% and $XX.X marked achieved X.X% up record revenue revenue we for September, Xtampza growth of of in of prescription another delivered of during addition, XXXX, up we've the and pain Xtampza million, Through include: and portfolio. APM season. ER, drove for accelerated prescriptions growth $XX.X We are revenue highlights accomplishments strong in first quarter-over-quarter. We which year-over-year ER prescriptions on quarters In acquisition the We XXXX. Belbuca revenue year-over-year. growth to million, and year-over-year. new XX.X% the quarter wins support strong up Recent growth X seen strong X.X% are closed XX% year-over-year also our since record back-to-school key in

XXXX portfolio. history highlighting our we presence Annual update. a [indiscernible] presentation the Canadian Scott Alliance presentation of continued at and of on in impact ADHD our of ADHD through Academy join at Resource XXXX population Meeting We will the key turn at APM [indiscernible] the differentiated congresses, our leadership a to pain it Child X of the clinical over now Conference. I including established and American commercial posters give to health

Scott Dreyer

into prescription need needs. This the enabling growing patient's of commercial become the Jornay has Jornay ADHD treatment PM to completed patients to be In the average XXXX, dose the to adult or Ironshore integrating PM poised and Thanks, year-over-year. market adolescent the Mike. has evening grew And Jornay is upon short-acting X first XXXX, eliminates quarters highly total growth presence Jornay school have on PM delivered assets. expands ADHD tailored the compared PM portfolio awakening recent focused significant to is are ADHD Jornay into large PM and symptom limiting We're in our and the at XXXX, pleased commercial grown since grew to and acquisition prescriptions duration the it XXXX of XX% X% and It differentiated stimulant Jornay growth. driver. past on at to need day, prescriptions the X And our control market PM dose-dependent through of approximately morning with is pediatric our double-digit for important is years. Jornay PM provides stimulant add-ons. to over as flexible only lead XX.X% throughout XXX,XXX. work. The dosing. for for medication because convenient our

XX,XXX In the quarter seeing in PM the third And back-to-school third the we base third has growth during addition, prescription growing XX% quarter, up in are strong Jorn an and with Jornay delivered PM the up since a XX% prescriber XXXX. year-over-year. of quarter, broad acceleration prescribers over season.

our maximize encouraging we're XX,XXX this as performance in line in treated in the October PM. potential therapy option is compared brand opportunity need symptoms. season, on being focused average on fundamentals to and and occurs ADHD were XX%. clinical control differentiation, time Our is July, work strong weekly opportunity the back-to-school Prescription is and of during opportunity and million to PM. because XX,XXX of for track maximize for commercial currently a Jornay prescriptions team transition took This ADHD generate see and expectations revenue a back-to-school an an to of brand the we the in market trajectory, net the continuing season. This Jornay acquisition excess in the successfully through typically when with is increases to the navigated critical in during Leveraging XXXX. With their actions increase momentum new $XXX switching necessary the demand to often the growth we significant patients

ongoing investing lead caregivers management to our ask sales leadership momentum responsible growth strong Collegium continue take revenue. our pain pain. motivate by Jonray strength and maximizing We raising for quarterly a X.X% pain ER of about Jonray it ER potential our market, growth continue pain driving with financial committed quarter half of the our unique our become force reach believe sized the among focus marking HCP portfolio branded has to the success collectively that is fifth with to to fueled of being them total ensuring year-over-year, delivered portfolio this record of in command profile management, in reach adequately Nucynta to responsible of Jonray of been and ER awareness in Areas we of pain our products patients prescriptions Collegium, the PM. At year-over-year include targeted and asset. the the PM and portfolio. to and to organization differentiated and effectively prioritize treatment to Caledium's we're another the quarter in commercial prescription Belbuca up leader of products. is will demonstrating maximize straight the of differentiated drive poised pride PM's differentiated strength driver, position over and their of unique complementing The Xtampza and HCPs and Belbuca, ADHD

expectations, our weekly the October in X% acceleration with in having on fourth is weekly as of seen high compared ER's the line share September to impact the up market quarter, average trend, were Xtampza growth weekly some XX.X%. the profile. encouraged the In third that quarter. OxyContin differentiated achieved consistent to few speaks in and for Xtampza extended-release commercial prescriptions all-time over brand ER which we've prescriptions an ER of execution product momentum prescriptions we enter the this the and stable and Xtampza addition, months. We're by strong in showing an August, last our Average and July in were Belbuca's

We Xtampza fueled expect has Part which driven net ER's year the and in be D. the access label net, in improved and for to commercial full differentiated Xtampza position capitalizing growth by educating ER's quarter. We're on physicians revenue the committed revenue on to record strong third gross to

the of XXXX with contributor Nucynta and through Nucynta execution Xtampza's franchise enable for franchise The X-month agreement strategy, authorized franchise managing is developments for combination brand. to the access million is that the of formulary a market aspiration to a to share enhancing and broad on to lives. Hikma and positive for our and franchise, our replace both X for driving while our revenue generic profitability strategy is and to the were of demand brands differentiated clear: of coverage represents products our nets. We're pleased our our commitment In XXXX in in growing to the to properties the adds profitability patients Xtampza along goal, ER the products gross appropriate beyond with that and enhance to by extension, ] integrated [ achieve contracting including health approximately us and delivering pediatric due Belbuca continue large OxyContin beyond. commercial committed superior D Our to support each exclusivity Part million X key We're labeling. utilization a highly to contribution manage for our abuse-deterrent that portfolio. system of pain lives

volume prescriptions, from we We coverage in expect and However, corresponding IQVdata. Belbuca system expansion revenue not growth won't report the this purchases does prescription see directly ] [ of

In OxyContin addition be both and consistent be formulary. formulary from Xtampza with profitability, X are lives, Belbuca enhanced we'll ER with January Xtampza plan parity effective X. Medicare this X removing million within plan focus on with and our covered will off D Part a ER products as representing

brands of both offset As positive both by both ADHD prescription profitability change, X Xtampza a revenue they've XXXX commercial In to this Collegium this but Belbuca pay I will for for for be formulary removals to we and delivered and closing, as improvement. the plan. These strong businesses. within prescriptions execution rebates are the in the decline thank and result for for performance expected and team will net want Belbuca Xtampza our pain pressure at

meaningful Jornay for PM. to driving growth financials. [indiscernible] of XXXX a momentum believe discussion As in portfolio the our call and maximizing well of now the beyond. I'll and in we're we the we're finish focused positioned potential hand We for over Colleen pain the year, on

Colleen Tupper

Good Scott. Thanks, everyone. afternoon,

Our third product the than business third revenue reflects performance Financial robust cash were significant was Xtampza of expectations sales was revenue net XX% and strong million million, strong net The up for the the a legacy up Xtampza net month up $XXX.X record line X third effect patterns third the of highlights million, revenues $XXX.X the were $XX.X revenues bottom XX% ER expansion reflects year-over-year. record with less million, quarter, development, quarter, revenue was our performance ownership record quarter impactful million, quarter. up with $X total in commercial and and ER net during include which year-over-year the $XX.X flows. XX% XX% growth quarter In year-over-year. year-over-year. Belbuca third Jornay pain in a of operating delivered portfolio ordering transition. record gross for to line a revenue XX.X%

gross approximately a resulting this favorable is was revenue XX% full Xtampza XXXX, year-over-year. The previously from GAAP to third expenses net year range low quarter onetime $XX.X care down were communicated. in, benefit a million, up million, review. the in $XX we XX% formulary franchise which adjustment managed factored ER of from end did expect net With be now benefit year-over-year. rebate Nucynta X% operating the we to

compared reconciliation third Please share $X.XX today the $X.XX basic a share $XX.X see to GAAP down was was quarter share included quarter the quarter acquisition-related expenses up GAAP with excludes million Non-GAAP income compensation basic was year-over-year. XX% release in the million, for million, This earnings record up adjusted $X.XX stock-based the GAAP in and associated press year-over-year. up $X.XX in expenses in Non-GAAP year expenses, $XXX.X period. earlier acquisition. Adjusted quarter, per earnings of operating Ironshore for non-GAAP XX% year-over-year. which a the $XX.X acquisition-related net was EBITDA third were million, XX% prior XX% per third diluted and of issued year-over-year. adjusted and GAAP results. $X.XX our to diluted per $X.X earnings

$XXX September of operating which generated our cash strategy us of in and strong execute XX, equivalents We million Ironshore, flows, acquisition million hand. deployment another cash of As the of complete quarter on to approximately cash, utilized enabling XXXX, marketable securities. cash and we $XXX capital had

reaffirming are following which of our XXXX We we guidance, financial the acquisition. Ironshore the updated close

to prescription driven product million PM expected for revenues net full growth, excess $XXX Jornay XXXX fueled by net million. net year ER by growth of growth $XXX is in $XXX Xtampza full of revenue is year million expect to to in primarily be pro Belbuca range We improvement. revenue revenue the forma is while gross

the pressure elimination the Act, on the we relative a to Medicaid full revenues year Nucynta year-over-year year-over-year return Nucynta in due with American by in XXXX cap some a to the For expect the XXXX. franchise of stability Recovery basis franchise on

positioned We in of expect million thus million our million. EBITDA on $XXX With deployment well executing adjusting $XXX $XXX for financial opportunistically $XXX integration range operating repurchasing to to and on through expenses of range debt commitments are create million we value to long-term our in for deliver adjusted paying financial performance strong our down shareholders to the far, focused on the We PM, our remain Jornay shares. XXXX. of by business development strategy capital the and

proven the of a expertise we acquisition integrate including of leverage development, track Jornay PM. the efficiently will and have the We and business potential Belbuca, Nucynta successful and this record to franchise of maximize

We in focus growth of are the in already look as seeing pain. immediate to area we committed accretion addition to investing Jornay to PM with Jornay product of the be expect the We're new accretive PM EBITDA therapeutic and of to beyond XXXX. build a continued adjusted

also focused We our debt. on are managing

from $XXX our the used the of million loan was interest replace with a loan term loan XXX points. $XXX.X new to With basis acquisition, secured balance our Pharmakon we this rate on million prior term by Pharmakon. new Ironshore reducing

in the improvement prepayment our estimated In year-end that on sorry, flexibility. new loan Xx XXXX cost be has net net the combined less lower based significant also addition amortization less at EBITDA -- than of to capital, our year more longer-term than a will EBITDA. leverage based We fiscal estimate Xx and

have the we $XXX year. million [indiscernible] repurchase addition, earlier this share in our program million approved $XXX Board In by

generate it confident strength in to are continue and will share and to return our shareholders. value business the leverage opportunistically repurchases to value the We of will

on our Part D authorized Nucynta will the agreement successful to developments drive the with the in forward owning and are now of of we investing outlook expand redesign, tailwinds look to strategy the the generating in on to positive return is and and profitability Mike. focused be PM call share cash with and the to increasing and and opportunistically future Medicare our value momentum repurchases. I the are for lead is products, revenue, growth. deployment will through our our expected recent driver poised we growth to as positive XXXX. At its organic the Hikma our of maximizing shareholders seeing bolstered strength debt along extension, already momentum the by integrating payer just exclusivity of growth we remain the deliver portfolio, time, down business beyond, pediatric month the generic back pain from business growing we Jornay execution franchise build value and financial into XXXX commitments to Jornay Looking We robust pain to core disciplined dedicated a to are our of same capital to continue as strategy product. commercial portfolio The of on leverage and turn flows. pain financial PM our our we pay

Michael Heffernan

Kelly. Thanks,

We of for our are success quarter, proud the accomplishments us which continued in third XXXX. in positioned

the and of and focused of strategic business. addition core financial maximizing delivering year, the remainder integrating we on the For on pain the PM in are Jornay to commitments

month he With confident confident phase to deliver record our a growth. I experience, our to generate new robust our business Operator? the of is and their results, the leadership are flows extensive up like welcome deploy I this am join personally to manner. exceptional team. to for development through will CEO acquisition, stewardship questions. the in and in We as his financial and to through commercial disciplined excited lead open ability thank Collegium very Vikram I'd next transformational we're the for strong call team Collegium capital now right this cash person Ironshore

Operator

the Truist of question Securities. line with from And Instructions] our [Operator Sulewski Les first comes

Leszek Sulewski

Mike share might it few, to CEO expect areas? background, Colleen. efforts premature, about clinical Jornay, maybe was back-to-school for much then essentially of highlight you market And how Vikram's maybe envision what you, in and trials potential Sorry anchor Belbuca do journey plans general, in LOE? a Or to strong can investment the And across back-to-school the I are change? ADHD or for expect you mouthful. into be season although given on with this to from divergence category. And to season plans BD value product? script the peak for the selection. of ownership the what but growth rare tied the have peak disease proposition some that sales And Scott, if Congrats maybe therapeutic I the would other And chronic then impactful how new around market. undergoing And or you any then pain Sogetigene? products, first is then those new continue of last, potential what for seasonality neuro as guess, talk the against leading the the specifically Belbuca the is such into you do impressive your

Michael Heffernan

I'll start and for Scott questions. Les other the beginning, jump on the some then at I'll you, Mike. Thank to question. ask in This the of is

As Jornay we're of since the as I for acquisition portfolio. to well early mentioned pain integrating strategy, really the our Ironshore maximizing our closed growing balance in relates on Jornay the we September. -- year, focused And it the in as as and

is strategy. new a business part us a in our expertise identify therapeutic to that pain. to that also So key development allow build assets efforts continue We'll our of our area beyond

further gets the [indiscernible] as and point put and further Vikram work to on with Collegium's question as the fine Belbuca LOE. As leadership both development of well pass execution business out team a further Board the strategy. I'll for Scott it build our still strategy to

Scott Dreyer

Got it. right, Les. All

say investing LOE, biggest So starting with Look, are I'd there tape. through the is we thing Belbuca the

harvest we is the there as we mode. The asset current be the matter where think upside we're fact view assumptions, So right, don't some -- -- in LOE we're may Belbuca look there. of at an not you

-- not just in believe patients. of that market we where new So we're options responsible to product the the competition of of said, the no I'd we're helpful in play first, Belbuca. any question product, That has leader fan your product say competition chronic Vertex in our about to in a just the all investing fully product that the and pain pain, come pay products as are place management, for

differentiated market which Jornay, market. On look, has season. in back-to-school Belbuca what's back-to-school, the you as and asked happy a So with about competitive don't use we're runway really view of runway think long growth the of during the buprenorphine growing it happened buprenorphine a is increase, in highly -- any way is continues within the pain and Belbuca to

the closed has kind the average the July. in, we So we've in season, And weeklies, We've if team August a you growth on focusing October kicks in period. at tremendous XX% season the execution. of of seen seen the deal -- done the versus middle look comparing the job time

as season that great typically that on expect carries the set November XXXX. think going us impact has continue an to as into trajectory it's and just we a momentum We to enter

peak about reinforce is trajectory any items, we asked going You very and strong, give color next peak growth not more sales, to so to we and we're give sales expect June don't just that go on that. continue the we I'll year. as of into

Operator

And the Sandler. with the David Amsellem line next question comes Piper of from

David Amsellem

how coming So us about us of the can ADHD. you're us on spread two, gross give in be and then development M&A. or remind Jornay just helpful. number other you just gross business to a relation to looks give to sense can range going net PM, some to what forward net thinking whether number like the And one. That branded back That's agents for would you

I prescribing psychiatrists Jorany, there's general with of product. audience. sort you've believe an call pediatricians, So and diverse somewhat practitioners, interesting the who got are

how So have, does how thinking you're the that given audience you infrastructure development business future call about commercial and that M&A? inform

Michael Heffernan

net. in do David. Jornay Thanks, the on to you Scott, take want question Great. gross PM to first

Scott Dreyer

Sure. yes. Yes,

Colleen this So I on team one. will and tag

very it's has with overall. of reinforce Jornay is commercial, that XX% coverage Medicaid, in across First, I'll and coverage is the just brand, strong look now. when XX% the right and in XX% for at businesses that of start you coverage

So coverage. means what we're with is that happy the

a look on gross you of color always make on side, to expand But net. to we've be pain the give as coverage. choices done want we expand will We in that we'll to more terms Collen, coverage. to little disciplined

Colleen Tupper

Yes. to give on I'd bit branded ADHD the products. for in you'd more say, guidance. is we're typical XXs forward seeing color early But what Jornay January net what to see in sitting David, we gross in on range. look It's you a

program, also a which and the You portion typical this in have, is making of rebates obviously, space. co-pay that big up

Unknown Executive

go primarily leverage spend pain. you of And points a We'll it. as our you And lot thinking optionality. think mean, call new suggested, moving are Vikram again, of directions. we that will, lot I'm analyze we'd call and Jornay looking APM then the comes And time in I our like other and as development the leverage our we I us clearly, question BD, has about of really of as a our new because commercial of -- beyond give a then beyond overlap. integrating different move and in number opportunities in to will lot front we focus to it know, expertise been into about how a gives we us grow during as next points, the move on that And to be such flexibility strategy sure year, us, our forward we really and expertise it. and to

Operator

Company. the from & Belanger with Needham of line comes Next Serge question

Serge Belanger

A June couple integration flat of for one questions talked about sales regarding PM, the first you products. guess the cut, I of force think us. sizing I

how of to the formulary the the the what size and on current [indiscernible] and curious regarding Just changes And both Belbuca. modifications that? to you're is sales secondly, thinking about then coverage force

X I pieces. there were think

So where on -- first, exclusivity. you're losing

at And on provides conversion for how riskier. that formulary. curious plant, existing allows Oxy a prescriptions an many the Just business new is opportunity are you there that that's --

Michael Heffernan

integration. on easier the sounds Thanks Scott, you Great. Serge. for it like

Scott Dreyer

good. Sounds Yes.

Serge, comes when force situation. to first, sales current it our So and the

where [ we from we're brand. is coverage now looking currently, bit And look, right frequency means where we at raising We have our accelerate the that needed to prescribing that's the potential work the get and that to ensuring need in. eraximizing doing coverage to to So to ] And continue about of assess to expand reps And focal enough want. growth go a we management. we're we here. point that believe and we the salespeople That's all the XXX happens the awareness. have recent and get

so And question your so we'll take one. on formulary make sales and choices guidance, include by we will January changes, final our when any that second about the get all one force. To we them OpEx the

million health business not in bit the In Part mentioned. terms system in but commercial, there's at Right D OxyContin lives the in there, of of lives million that integrated little a I much. X addition, now,

So little opportunities us more a When to to comes lot it when starting some the Belbuca, is comes front opportunity it's OxyContin. bit of the there fresh different plan. a and than in in it a we've of use of conversion past the coverage in with but had

D that from XX% within that lives, plan. X Xtampza In take to Belbuca plan. an we removed we that in what about Part And prescriptions. keep as plan to you that it's It's that's of terms opportunity I with the it scripts, were pay formulary of million at will a the would reminder, go where of said It's not rebate willing where that XX% mentioned and access were prescriptions X. sit to about

And net be will Hopefully, it overall seeing that the pressure plants. while so those revenue on we are confident positive serve. in prescriptions that helps

Serge Belanger

Yes.

will the Belbuca? do wash you change in changes it you both volume terms formulary, when So Xtampza a decision new combine addition the for think and be the to with the X of and existing

Scott Dreyer

Yes.

reported system, because the of wash they I as of a it's IQVIA. don't to mentioned, prescriptions in through integrated terms prescriptions lives have in terms health not So

prescriptions whereas So comes no through, directly revenue see will IQVIA you the removals we'll is happen, scripts. have but that impacted that where

outs January, situations, in of what's will those revenue do, again, terms in guidance will those factored different be be when there. and that all in we scripts ins always if in be we revenue sense. give important will, makes that as So is different all our X But

Operator

with comes H.C. the And question the from line of Livnat next Oren Wainright.

Oren Livnat

I have couple. a

him take what and up your excited your he core focused business? competencies sort Can in you maybe into he that fit that elevated, your of maybe about mass as a horizons versus portfolio different more prepared And a is front of broadening have other be existing Or and book questions and his areas? products. follow-up, follow good on a talk will all. on market. Just to management I assume it on of Should on be we -- the given just regarding disease Victor's rare appointment take I experience global should made to CEO. pain ADHD to will

Michael Heffernan

a Thank you, about experience. Oren. Vikram's Yes, let little me bit talk

over building by billion know, resulted growth certainly transformation mentioned, international Horizon when as he's the the it's involved next phase a business to in growth, transferable we grew But in commercial leveraging expertise $XXX for as every And the $XX of acquisition aspect He and in successfully therapeutic of the the comes of to are from million Collegium years. XX growth. division. Amgen. revenue company led those was the skills the of of the $X of regardless been in it in its billion biopharma I As he business

that upon think created substrate I he's the talk to build great business It week, base team. is about pretty legum. we've a strong a and he's very because he'll you and with you very to but this a excited about at think starting Vikram gives next started I business strong them management

which new take expertise is then a build into got and And situation, opportunity his already have the growth. we addition CEO in have expertise, really and the a any growth so business he's on already for coming to the to

So we're join about company. excited to having the really

Oren Livnat

back-to-school, that the the inflect fair with looks firing even now. cylinders highlighted yet or could transition, right necessarily through the rightsizing you're think both organization, all basis Jornay actually delivering. and you're And like the you growth pretty Look, maybe about Is some I wasn't during change upwards a imagine can't year-over-year it with increased allocation? PM, Got growth some not execution I to on again, year-over-year settling it. XX% say of corporate resource on but and friction it there strong on disruption

Michael Heffernan

Scott, to Aaron. Thanks, do take that? you Yes. want

Scott Dreyer

great. great Yes, question. Oren, Yes. that's

you and say we force the I'd disruption, entire everybody we management intact sales ensure because continuity. recall, that see really, may was as team first, to didn't kept and purposeful So

to So back-to-school season, first question, year rate the year-over-year than they actually all Yes, frankly, up firing a at is cylinders, during back-to-school XX.X% accelerated greater season. last during accelerated and that on growth

the that of So time. team a amount for needs credit tremendous continuity that during

it And opportunity. I your couple Now a there's put forward, to into going course, of future question of buckets.

cylinders there's day dose food number I to if our it's in the this interesting product, And your three, ADHD out to prepared low. remarks, there we're on for through understand Number will you're next First, awareness from all expertise number day. and mentioned of the right? could pretty customer. executing that patients, very all profile that is laid awakening HCPs a that first. adequately I you and a for and product That's the and the and clearly, a and in marketing uptake We that the front the caregivers evening think for we're we'll you the ensure product product caregiver that awareness of a a about once ensure sized through execution, you then trial way in among through from That's if drive one. two, could investing bring carry upon my standpoint that as

and make that to So take of investments action advantage we opportunity. will take

So focused those of as on we'll to growth continue brand. through XXXX are the things move be momentum the the we

Oren Livnat

patient And there's overall methylphenidate with Astaris a [ with and you've guys you this out physician highly couple real it you in Jornay products and a for regards to I how the got ] ADHD dosing. branded terms All there, field to Can market, of shaking there pretty value about only obviously know on reception be out out and maybe right. and X preference mistaken, or your in your competition unique a space. genericized these if branded it's with prodrug seems I'm differentiation propositions? different talk unique other

Michael Heffernan

you want that? do take Scott, to Yes.

Scott Dreyer

Yes. Yes.

you. the school back just in has I'd One, the market, insights of performance Jornay couple you a of give to competitive growth look in So at the sets. if season exceeded

[indiscernible] So that's also that non-stimulus. as one. And number the includes

growing. truly branded uniqueness the the we're you day. the is the physician the from they product that evening fact marketplace, just strong at next the but the of the is just what really not see and look feedback, look you that through day morning When dosing, when hearing reception So through at carries

little type different. gone in have a early we than for we're it on Astaris, actually switches But And a truly is ADHD of seeing, generic. they is as that another this they release of products of other at, evidence when have lot medications. kind being bit product. stickier release the someone Journey of a extended So data instance, more the extended in the product, like typical longer best it's adherence and of to look as see Jornay

So what is the third good. quarter. reception The as we're growing physicians shared, The I the up is seeing XX% that's marketplace. prescriber in base, year-over-year, XX,XXX in almost

So going. the there's there's a momentum continue that receptivity, drug, and we're to going continue good to to try behind to keep a

Oren Livnat

to up I with low net ER math in the And material were the haven't product run thing. numbers moves quarter? but Xtampza So maybe and there one yet just down inventory lastly, or up Xtampza on gross any lines housekeeping other that's perfectly, the or any

Colleen Tupper

minus we Jornay across they pain half. it's around every it less and was XX had On ordering or a for ], consistently bit little [ a X the month had wholesalers, than of X Oren, pretty week ownership portfolio, plus pattern. because big a other the that

have hand see. days on lower typically We than you

So ], only [ ended normally that of but you about call. expect on would be the and Jornay XX shy September, difference, days was to hand, just XX I'd that

Operator

concludes back question-and-answer turn his for this Ladies to closing I'll Mike remarks. Heffernan and the gentlemen, call the session.

Michael Heffernan

call evening. the a for great everyone, Thank joining Have today. you,

Operator

This concludes conference. today's

your at lines your you disconnect may Thank time. participation. this You for

Collegium Pharmaceutical (COLL) 7 Nov 242024 Q3 Earnings call transcript