Collegium Announces $35M Accelerated Buyback Program, As Part Of The $150M Share Repurchase Program Authorized By Its Board Of Directors In January 2024
Portfolio Pulse from Benzinga Newsdesk
Collegium Pharmaceutical, Inc. has initiated a $35M Accelerated Share Repurchase (ASR) agreement with Jefferies LLC, as part of its larger $150M share repurchase program authorized in January 2024. This move leaves $115M remaining in the program.
May 13, 2024 | 12:18 pm
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POSITIVE IMPACT
Collegium Pharmaceutical's $35M ASR is a significant step in its $150M share repurchase program, signaling confidence in its financial health and a potential positive impact on shareholder value.
Share repurchase programs often signal a company's belief in its own undervalued shares and can lead to an increase in stock price by reducing the supply of shares available in the market. Collegium's decision to initiate a $35M ASR as part of a larger $150M program could be seen positively by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100