Collegium Provides 2020 Financial Guidance
08 January 2020 - 8:05AM
Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a specialty
pharmaceutical company committed to being the leader in responsible
pain management, today provided full-year 2020 guidance for
Xtampza® ER product revenues, Nucynta® franchise product revenues
and total operating expenses.
“In 2020, Xtampza ER is well-positioned for the next stage of
growth driven by the 15 new exclusive extended-release oxycodone
formulary wins covering more than 35 million lives that took effect
on January 1, 2020,” said Joe Ciaffoni, President and Chief
Executive Officer of Collegium. “Xtampza ER growth, as well as a
commitment to leverage our existing cost structure, will drive
Collegium to profitability in 2020.”
Financial Guidance for 2020
- Xtampza ER revenues are expected in the range of $150.0 million
to $160.0 million.
- Nucynta franchise revenues are expected in the range of $170.0
million to $180.0 million.
- Total operating expenses are expected in the range of $130.0
million to $140.0 million.
About Collegium Pharmaceutical, Inc.
Collegium is a specialty pharmaceutical company committed to
being the leader in responsible pain management. Collegium’s
headquarters are located in Stoughton, Massachusetts. For more
information, please visit the company’s website at
www.collegiumpharma.com.
About Xtampza ER
Xtampza® ER is Collegium’s first product utilizing the DETERx
technology platform. Xtampza ER is an abuse-deterrent,
extended-release, oral formulation of oxycodone approved by the FDA
for the management of pain severe enough to require daily,
around-the-clock, long-term opioid treatment and for which
alternative treatment options are inadequate.
About Nucynta ER
Nucynta® ER is an extended-release formulation of tapentadol.
Tapentadol is a centrally acting synthetic analgesic. Nucynta ER is
approved by the FDA for the management of pain severe enough to
require daily, around-the-clock, long-term opioid treatment and for
which alternative treatment options are inadequate. Nucynta
ER is also approved by the FDA for neuropathic pain associated with
diabetic peripheral neuropathy severe enough to require daily,
around-the-clock, long-term opioid treatment and for which
alternative treatment options are inadequate.
About Nucynta
Nucynta® is an immediate release formulation of tapentadol
indicated for the management of acute pain severe enough to require
an opioid analgesic. Tapentadol is a centrally acting synthetic
analgesic.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995. We may, in some cases, use terms such as "predicts,"
"forecasts," "believes," "potential," "proposed," "continue,"
"estimates," "anticipates," "expects," "plans," "intends," "may,"
"could," "might," "should" or other words that convey uncertainty
of future events or outcomes to identify these forward-looking
statements. Examples of forward-looking statements contained in
this press release include, among others, statements regarding
financial guidance for Xtampza ER and Nucynta Franchise revenues,
total operating expenses, current and future market opportunities
for our products and our assumptions related thereto. Such
statements are subject to numerous important factors, risks and
uncertainties that may cause our future results, performance, or
achievements to differ materially from the company's current
expectations. Management's expectations and, therefore, any
forward-looking statements in this press release could also be
affected by risks and uncertainties relating to a number of other
factors, including our ability to obtain and maintain regulatory
approval of our products and product candidates; our ability to
effectively commercialize in-licensed products and manage our
relationships with licensors; the success of competing products
that are or become available; our ability to obtain reimbursement
and third-party payor contracts for our products; the rate and
degree of market acceptance of our products and product candidates;
the outcome of any patent infringement or other litigation that may
be brought by or against us, including litigation with Purdue
Pharma, L.P. and Teva Pharmaceuticals USA, Inc.; the outcome of any
governmental investigation related to the manufacture, marketing
and sale of opioid medications; our ability to secure adequate
supplies of active pharmaceutical ingredient for each of our
products and product candidates and manufacture adequate supplies
of our products; our ability to comply with stringent U.S. and
foreign government regulation in the manufacture of pharmaceutical
products, including U.S. Drug Enforcement Agency, or DEA,
compliance; and the accuracy of our estimates regarding expenses,
revenue, capital requirements and need for additional financing.
These and other risks are described under the heading "Risk
Factors" in our Quarterly Report on Form 10-Q for the quarter ended
September 30, 2019, and in other reports which we file with the
SEC. Any forward-looking statements that we make in this press
release speak only as of the date of this press release. We assume
no obligation to update our forward-looking statements whether as a
result of new information, future events or otherwise, after the
date of this press release.
Contact: Alex Dasalla adasalla@collegiumpharma.com
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