Why Collegium Pharmaceutical Shares Are Gaining Today
Portfolio Pulse from Akanksha Bakshi
Collegium Pharmaceutical, Inc. (NASDAQ:COLL) announced its FY24 financial guidance, expecting product revenues of $580 million-$595 million, in line with consensus estimates. Adjusted operating expenses are projected to be $120 million-$125 million, with Adjusted EBITDA of $380 million-$395 million. The company highlighted strong growth in 2023, debt reduction, and a $150 million share repurchase program. Contracts for Xtampza ER and Belbuca were renegotiated, improving profitability and access. Shares rose by 5.91% to $33.08.
January 03, 2024 | 4:39 pm
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POSITIVE IMPACT
Collegium Pharmaceutical expects FY24 revenues to meet consensus estimates, with significant growth in adjusted EBITDA and operational efficiency. The company's share repurchase program and improved drug contracts are positive indicators.
The positive FY24 guidance, with expected revenue and EBITDA growth, along with the share repurchase program and renegotiated drug contracts, are likely to instill investor confidence and support a short-term positive impact on COLL's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100