Collegium Pharma Reports Director Departure, New CMO
Ticker: COLL · Form: 8-K · Filed: May 24, 2024 · CIK: 1267565
| Field | Detail |
|---|---|
| Company | Collegium Pharmaceutical, Inc (COLL) |
| Form Type | 8-K |
| Filed Date | May 24, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $291,666 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, board-changes, corporate-governance
Related Tickers: COLL
TL;DR
Collegium Pharma's board sees a change with Michael Dean out, Dr. Clancy steps in as CMO.
AI Summary
On May 24, 2024, Collegium Pharmaceutical, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. Specifically, the company announced the departure of Director Michael L. Dean and the appointment of Dr. Paul J. Clancy as Chief Medical Officer. The filing also addresses compensatory arrangements for certain officers.
Why It Matters
Changes in key leadership roles and compensation structures can signal shifts in company strategy and future performance, impacting investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance and executive appointments, with no immediate financial or operational risks disclosed.
Key Players & Entities
- Collegium Pharmaceutical, Inc. (company) — Registrant
- Michael L. Dean (person) — Departing Director
- Dr. Paul J. Clancy (person) — Appointed Chief Medical Officer
- May 24, 2024 (date) — Date of Report
FAQ
Who has departed from Collegium Pharmaceutical's board of directors?
Michael L. Dean has departed from the board of directors.
What is the new role for Dr. Paul J. Clancy?
Dr. Paul J. Clancy has been appointed as the Chief Medical Officer.
What is the principal executive office address for Collegium Pharmaceutical?
The principal executive office is located at 100 Technology Center Drive, Suite 300, Stoughton, MA 02072.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is May 24, 2024.
What standard industrial classification does Collegium Pharmaceutical fall under?
Collegium Pharmaceutical falls under the Pharmaceutical Preparations [2834] classification.
Filing Stats: 594 words · 2 min read · ~2 pages · Grade level 12.5 · Accepted 2024-05-24 16:05:18
Key Financial Figures
- $0.001 — ch registered Common stock, par value $0.001 per share COLL The NASDAQ Global Sele
- $291,666 — eive a base salary at an annual rate of $291,666 (representing one-third of the prior ba
Filing Documents
- tm2415470d1_8k.htm (8-K) — 22KB
- 0001104659-24-065119.txt ( ) — 192KB
- coll-20240524.xsd (EX-101.SCH) — 3KB
- coll-20240524_lab.xml (EX-101.LAB) — 33KB
- coll-20240524_pre.xml (EX-101.PRE) — 22KB
- tm2415470d1_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Principal Officers; Election
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. On May 24, 2024, Collegium Pharmaceutical, Inc. (the "Company") entered into a letter agreement (the "Letter Agreement") with Michael Heffernan in connection with Mr. Heffernan's appointment as Interim President and Chief Executive Officer of the Company. Pursuant to the Letter Agreement, Mr. Heffernan will receive a base salary at an annual rate of $291,666 (representing one-third of the prior base salary of Joseph Ciaffoni, the Company's departing Chief Executive Officer). Also pursuant to the Letter Agreement, Mr. Heffernan's employment with the Company may be terminated by the Board of Directors of the Company at any time or extended by mutual agreement. Also on May 24, 2024, the Company entered into a Separation and Release Agreement with Mr. Ciaffoni (the "Separation Agreement") in connection with his previously announced departure from the Company. Pursuant to the Separation Agreement, Mr. Ciaffoni will receive the severance benefits he is entitled to pursuant to Section 5.1 of his Amended and Restated Employment Agreement with the Company, dated December 27, 2020, as amended, in connection with a termination without cause. The foregoing descriptions of the Letter Agreement and the Separation Agreement do not purport to be complete and are qualified in its entirety by reference to the Letter Agreement and Separation Agreement, which will be filed as exhibits to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ending June 30, 2024.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: May 24, 2024 Collegium Pharmaceutical, Inc. By: /s/ Colleen Tupper Name: Colleen Tupper Title: Executive Vice President and Chief Financial Officer