Collegium Pharmaceutical, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Collegium Pharmaceutical, Inc. has filed its 2023 10-K report detailing its financial performance and corporate activities for the fiscal year ending December 31, 2023.</b>

AI Summary

COLLEGIUM PHARMACEUTICAL, INC (COLL) filed a Annual Report (10-K) with the SEC on February 22, 2024. Collegium Pharmaceutical, Inc. filed its 2023 Form 10-K on February 22, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 100 Technology Center Drive, Stoughton, MA 02072. Collegium Pharmaceutical, Inc. is classified under SIC code 2834 (Pharmaceutical Preparations). The report includes details on treasury stock, retained earnings, and additional paid-in capital for fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking COLLEGIUM PHARMACEUTICAL, INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Collegium's financial health, operational strategies, and risk factors for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future outlook. The detailed financial statements and disclosures within the report offer insights into revenue streams, profitability, debt levels, and shareholder equity, enabling informed investment decisions.

Risk Assessment

Risk Level: low — COLLEGIUM PHARMACEUTICAL, INC shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant negative news or unexpected disclosures, indicating a stable operational and financial status.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis in the 10-K to understand Collegium's performance drivers and strategic initiatives for 2023.

Key Numbers

• 20231231 — Fiscal Year End (Period of report)
• 20240222 — Filing Date (Date filed)
• 2023-01-01 — Fiscal Year Start (Reporting period)
• 2022-01-01 — Prior Fiscal Year Start (Reporting period)
• 2021-01-01 — Prior Fiscal Year Start (Reporting period)
• 2024-01-31 — Subsequent Event Date (Share repurchase program)
• 2023-11-30 — Share Repurchase Program End Date (coll:ShareRepurchaseProgram2023Member)
• 2023-12-31 — Balance Sheet Date (Treasury Stock Common Member)

Key Players & Entities

• COLLEGIUM PHARMACEUTICAL, INC (company) — Filer name
• 0001267565 (company) — Central Index Key
• 2834 (company) — Standard Industrial Classification
• 100 TECHNOLOGY CENTER DRIVE (company) — Business Address Street 1
• STOUGHTON (company) — Business Address City
• MA (company) — Business Address State
• 02072 (company) — Business Address ZIP
• 781-713-3699 (company) — Business Phone

FAQ

Key Dates

• 2024-02-22: 10-K Filing — Annual report for fiscal year 2023
• 2023-12-31: Fiscal Year End — End of reporting period
• 2024-01-31: Share Repurchase Program — Subsequent event related to share repurchase

Key Financial Figures

• $0.001 — registered: Common stock , par value $0.001 per share COLL The NASDAQ Global Se
• $21.49 — lobal Select Market on June 30, 2023 of $21.49 per share. Shares of the registrant's c
• $560.0 — hat chronic pain costs the U.S. between $560.0 and $635.0 billion per year in direct m
• $635.0 billion — pain costs the U.S. between $560.0 and $635.0 billion per year in direct medical costs and lo

Filing Documents

• coll-20231231x10k.htm (10-K) — 3271KB
• coll-20231231xex10d4.htm (EX-10.4) — 110KB
• coll-20231231xex10d14.htm (EX-10.14) — 44KB
• coll-20231231xex19.htm (EX-19) — 104KB
• coll-20231231xex21d1.htm (EX-21.1) — 7KB
• coll-20231231xex23d1.htm (EX-23.1) — 3KB
• coll-20231231xex31d1.htm (EX-31.1) — 13KB
• coll-20231231xex31d2.htm (EX-31.2) — 13KB
• coll-20231231xex32d1.htm (EX-32.1) — 6KB
• coll-20231231xex32d2.htm (EX-32.2) — 6KB
• coll-20231231xex97.htm (EX-97) — 87KB
• coll-20231231x10k001.jpg (GRAPHIC) — 9KB
• coll-20231231x10k003.jpg (GRAPHIC) — 64KB
• coll-20231231xex10d4001.jpg (GRAPHIC) — 1KB
• coll-20231231xex19001.jpg (GRAPHIC) — 1KB
• 0001558370-24-001526.txt (&nbsp;) — 15660KB
• coll-20231231.xsd (EX-101.SCH) — 90KB
• coll-20231231_cal.xml (EX-101.CAL) — 126KB
• coll-20231231_def.xml (EX-101.DEF) — 387KB
• coll-20231231_lab.xml (EX-101.LAB) — 814KB
• coll-20231231_pre.xml (EX-101.PRE) — 653KB
• coll-20231231x10k_htm.xml (XML) — 3017KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 21 Item 1B. Unresolved Staff Comments 40 Item 1C. Cybersecurity 40 Item 2.

Properties

Properties 41 Item 3.

Legal Proceedings

Legal Proceedings 41 Item 4. Mine Safety Disclosures 41 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 41 Item 6. [Reserved] 43 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 56 Item 8. Consolidated Financial Statements and Supplementary Data 57 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 57 Item 9A.

Controls and Procedures

Controls and Procedures 57 Item 9B. Other Information 60 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 60 PART III Item 10. Directors, Executive Officers and Corporate Governance 60 Item 11.

Executive Compensation

Executive Compensation 60 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 60 Item 13. Certain Relationships and Related Transactions, and Director Independence 60 Item 14. Principal Accountant Fees and Services 61 PART IV Item 15. Exhibits and Financial Statement Schedules 61 Item 16. Form 10-K Summary 64

Forward-Looking Statements

Forward-Looking Statements Forward-looking statements are inherently subject to risks, uncertainties and assumptions; they are not guarantees of performance. You should not place undue reliance on these statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, we cannot assure you that the assumptions and expectations will prove to be correct. You should understand that the following important factors could affect our future results and could cause those results or other outcomes to differ materially from those expressed or implied in our forward-looking statements: our ability to commercialize and grow sales of our products; our ability to maintain regulatory approval of our products, and any related restrictions, limitations, and/or warnings in the label of an approved product; the size of the markets for our products, and our ability to service those markets; the success of competing products that are or become available; our ab

Business

Item 1. Business Overview Our mission is to build a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions. We have leveraged our research and development efforts as well as acquisitions and licensing relationships with third parties, to develop a portfolio of meaningfully differentiated products for use in the treatment of moderate to severe pain. We commercialize our pain portfolio, consisting of Xtampza ER, Nucynta ER and Nucynta IR (collectively the "Nucynta Products"), Belbuca, and Symproic, in the United States. Xtampza ER Our company was formed in 2002 to help address the opioid epidemic through the development of Xtampza ER, a pain treatment option designed with abuse deterrent properties. Xtampza ER is an abuse-deterrent, extended-release, oral formulation of oxycodone. Xtampza ER is formulated using our novel abuse-deterrent technology platform, DETERx, which provides extended-release delivery, while also providing barriers to common methods of abuse and misuse (e.g., crushing, chewing, heating, and injecting). This technology combines an active opioid ingredient with a fatty acid and waxes to form microspheres that are filled into a capsule. These wax-based microspheres are designed to resist particle size reduction and dose dumping when subjected to physical and chemical manipulation. In April 2016, the United States Food and Drug Administration ("FDA") approved our New Drug Application ("NDA") for Xtampza ER. Xtampza ER is indicated for the management of severe and persistent pain that requires an extended treatment period with a daily opioid analgesic and for which alternative treatment options are inadequate. The approved labeling for Xtampza ER includes human abuse potential studies, as well as data supporting the administration of the product as a sprinkle or through feeding tubes. Xtampza ER's label indicates a dosing regimen of one capsule every 12 hours, and

View Full Filing

View this 10-K filing on SEC EDGAR