COLLEGIUM PHARMACEUTICAL, INC: management transactions · United States · SEC (Form 4)

About COLLEGIUM PHARMACEUTICAL, INC

Collegium Pharmaceutical, Inc. is a U.S.-listed biopharmaceutical company trading on the NASDAQ under the ticker COLL. Its headquarters are in Stoughton, Massachusetts, United States. Collegium is best described as a specialty pharma company with a focused commercial model built around differentiated prescription medicines rather than broad early-stage discovery. Founded in the early 2000s, the company has evolved through a combination of in-house development, portfolio expansion, and targeted acquisitions. Collegium’s historical core has been pain management, an area that remains highly regulated and commercially specialized. Its key products include Xtampza ER, an abuse-deterrent extended-release oxycodone formulation built on proprietary technology; Belbuca, a buprenorphine buccal film for severe chronic pain; and the Nucynta franchise, which includes tapentadol products for immediate- and extended-release use. More recently, the company has added a meaningful ADHD growth platform through Jornay PM, a delayed-release/extended-release methylphenidate product designed for evening dosing. That portfolio mix gives Collegium a more balanced revenue base than a pure single-asset story, although the company still remains concentrated in a relatively small number of commercial brands. From a competitive standpoint, Collegium occupies a niche position versus larger diversified pharmaceutical peers. Its strengths lie in formulation science, controlled-substance commercialization, payer/access execution, and a specialized sales model focused on prescribers in pain and, increasingly, attention disorders. In pain, Collegium competes with much larger branded and generic players, but its products are differentiated by dosage form, abuse-deterrence features, and patient use case. This can support resilience in specific segments, but it also leaves the business exposed to prescription trends, regulatory scrutiny, pricing pressure, and portfolio concentration risk. Recent company developments have been notable. In 2025 and early 2026, Collegium reported continued revenue growth, strong performance from Jornay PM, and solid contributions from its pain portfolio. The company also closed a $980 million syndicated credit facility, signaling active capital structure management. Another major strategic step came in March 2026, when Collegium announced the acquisition of AZSTARYS from Corium Therapeutics, strengthening its ADHD presence and extending its growth runway. Collegium has also continued to work on commercial partnerships, including arrangements related to authorized generics for the Nucynta franchise. For investors, COLL is a NASDAQ-listed United States healthcare name with a specialty-pharma profile, combining mature franchise durability with selective growth opportunities in pain and ADHD.