COLLEGIUM PHARMACEUTICAL, INC
COLL evidence brief
What we can confirm
- BioSniper Score:
- 5.7 / 10
- Market Cap:
- $724.1M
- Next Catalyst:
- Phase2_Start · Apr 1, 2027
What it means
What to watch
Prepared research question
What matters most for COLL—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · COLL
Collegium Pharmaceutical is a diversified specialty pharmaceutical company focused on pain management and neuropsychiatry (ADHD), with a growing portfolio anchored by Jornay PM® and established pain brands.
Key risk: Net loss reported
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 22 clinical trials · 5 catalysts for COLLEGIUM PHARMACEUTICAL, INC.
Collegium Pharmaceutical is a diversified specialty pharmaceutical company focused on pain management and neuropsychiatry (ADHD), with a growing portfolio anchored by Jornay PM® and established pain brands.
- Record total revenue of $780.6M in FY2025, up 24% year-over-year [sec · filed 2026-04-07].
- Jornay PM® net revenue of $148.9M in FY2025, up 48% year-over-year [sec · filed 2026-04-07].
- Pain portfolio net revenues of $631.7M in FY2025, up 6% year-over-year [sec · filed 2026-04-07].
- Cash & equivalents of $129.5M as of 2026-06-30 [sec].
- Net loss of $15.1M for the period ending 2026-06-30 [sec].
What works
- Strong revenue growth driven by Jornay PM® (48% net revenue increase) and overall portfolio (24% total revenue increase) [sec · filed 2026-04-07].
- Diversified portfolio spanning pain and neuropsychiatry, reducing reliance on a single therapeutic area [sec · filed 2026-04-07].
- Significant cash reserves ($129.5M as of 2026-06-30) and shareholders' equity ($311.9M) provide financial flexibility [sec].
What to weigh
- Net loss of $15.1M reported for the period ending 2026-06-30, indicating ongoing profitability challenges [sec].
- Cash used to acquire Azstarys ($655.4M) partially offset by asset sales, highlighting capital-intensive business development [sec_mda · as of 2026-08-06].
- Patent expirations for key products (e.g., methylphenidate HCl in 2032, buprenorphine HCl in 2032) could face generic competition [catalyst].
From the filings
Quoted directly from source documents.
Record revenue in FY2025
“Product revenues, net for the year ended December 31, 2025 (FY 2025) were $780.6 million, up 24% year-over-year from 2024”
SEC filings · April 7, 2026
Jornay PM® growth
“generating $148.9 million in net revenue, up 48% year-over-year”
SEC filings · April 7, 2026
Pain portfolio performance
“our pain medicines generated $631.7 million in net revenues, up 6% year-over-year”
SEC filings · April 7, 2026
Cash position as of mid-2026
“cash and cash equivalents as of June 30, 2026”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2027-04-01 · Phase2_Start: Inpatient Buprenorphine Induction With Psilocybin for Opioid Use Disorder — Initiation of a Phase 2 trial combining buprenorphine with psilocybin for opioid use disorder.
- 2032-03-23 · Patent_Expiry · METHYLPHENIDATE HYDROCHLORIDE — Patent expiry for methylphenidate hydrochloride, potentially opening to generic competition.
- 2032-12-21 · Patent_Expiry · BUPRENORPHINE HYDROCHLORIDE — Patent expiry for buprenorphine hydrochloride, potentially opening to generic competition.
- 2033-05-29 · Patent_Expiry · SUVOREXANT — Patent expiry for suvorexant, potentially opening to generic competition.
- 2037-12-09 · Patent_Expiry · DEXMETHYLPHENIDATE HYDROCHLORIDE; SERDEXMETHYLPHENIDATE CHLORIDE — Patent expiry for combination ADHD product, potentially opening to generic competition.
Risks & what to watch (3)›
Key risks
- Net loss reported — Net loss of $15.1M for the period ending 2026-06-30 indicates profitability pressure [sec].
- Patent expirations
- Litigation and regulatory risks — Ongoing opioid-related litigation and governmental investigations could impact operations [sec · filed 2026-03-19].
What to watch
- Jornay PM® prescription growth and market share in ADHD [sec · filed 2026-04-07].
- Pain portfolio revenue trends and durability [sec · filed 2026-04-07].
- Business development and capital deployment (e.g., acquisitions, debt management) [sec · filed 2026-04-07].
- Patent expirations and potential generic competition starting 2032 [catalyst].
Sources: Catalysts · SEC filings · SEC MD&A · Generated October 9, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 5.85 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
5 upcoming, next in ~170d
0 buys · 4 sells (180d)
Catalysts
Regulatory
Financials
Short Interest
as of May 20, 2026- % of float
- 21.9%
- Days to cover
- 11.8
- Shares short
- 5,936,417
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
COLL short interestGovernance
Frequently asked questions
What is the AI investment thesis for COLLEGIUM PHARMACEUTICAL, INC?
Collegium Pharmaceutical is a diversified specialty pharmaceutical company focused on pain management and neuropsychiatry (ADHD), with a growing portfolio anchored by Jornay PM® and established pain brands.
What is COLLEGIUM PHARMACEUTICAL, INC's next catalyst?
COLLEGIUM PHARMACEUTICAL, INC's next tracked catalyst is a Phase2_Start event — "Phase2_Start: Inpatient Buprenorphine Induction With Psilocybin for Opioid Use Disorder: a Randomized Double-blind Trial" — expected April 1, 2027.
Who is the CEO of COLLEGIUM PHARMACEUTICAL, INC?
Mr. Vikram Karnani is the chief executive officer of COLLEGIUM PHARMACEUTICAL, INC (COLL).
Where is COLLEGIUM PHARMACEUTICAL, INC headquartered?
COLLEGIUM PHARMACEUTICAL, INC (COLL) is headquartered in Stoughton, MA, United States.
What therapeutic areas does COLLEGIUM PHARMACEUTICAL, INC focus on?
COLLEGIUM PHARMACEUTICAL, INC develops therapies across Oncology, Neurology, Immunology, Infectious Disease, Pain, Musculoskeletal, Gastroenterology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.