Collegium Pharma (COLL) Announces $25M Accelerated Share Buyback

Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a leading, diversified biopharmaceutical company committed to improving the lives of people living with serious medical conditions, today announced that it has entered into an Accelerated Share Repurchase ("ASR") agreement with Jefferies LLC to repurchase $25 million of the Company’s common stock. Collegium will execute the ASR as part of the $150 million share repurchase program authorized by its Board of Directors in January 2024. Upon completion of this ASR, Collegium will have $65 million remaining under the program.

“Collegium is off to a strong start in 2025 with first quarter revenues growing 23% year-over-year, driven by robust sales from our pain portfolio and a significant contribution from our rapidly growing ADHD medicine, Jornay PM®,” said Colleen Tupper, Chief Financial Officer. “The Board’s authorization of a $25 million ASR program reflects our strategic approach to capital allocation that balances driving sustained revenue growth while also returning capital to shareholders. We are confident in our future growth trajectory and remain committed to generating additional value as we invest in our key product growth drivers, expand our portfolio through disciplined business development, rapidly pay down debt and opportunistically repurchase shares.”

Under terms of the agreement, Collegium will pay $25 million to Jefferies LLC and will receive an initial delivery of 692,281 shares, based on the $28.89 closing stock price of Collegium’s common stock on May 9, 2025, representing approximately 80% of the total shares the Company expects to repurchase under the ASR agreement. The final number of shares repurchased will be based on the volume-weighted average prices of Collegium’s common stock during the term of the ASR and subject to adjustments related to the terms and conditions of the ASR agreement. The final settlement of the ASR is expected to be completed no later than the third quarter of 2025. As of March 31, 2025, Collegium had approximately 32.1 million shares outstanding.

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