Collegium Pharmaceutical, Inc. reported significant financial growth in its latest quarterly filing, with product revenues reaching $209.4 million for the three months ended September 30, 2025, a 31.4% increase from $159.3 million in the same period last year. For the nine months ending September 30, 2025, revenues totaled $575.1 million, up from $449.5 million in 2024. The company attributed this growth primarily to the acquisition of Jornay PM, which contributed $95 million in revenue, alongside increases in sales from the Nucynta products, Belbuca, and Xtampza ER.
The company's net income for the third quarter was $31.5 million, compared to $9.3 million in the prior year, reflecting a substantial increase in profitability. Earnings per share (EPS) also rose, with basic EPS at $1.00 and diluted EPS at $0.84, compared to $0.29 and $0.27, respectively, in the previous year. For the nine-month period, net income was $45.9 million, down from $56.7 million in 2024, largely due to increased operating expenses and interest costs associated with the company's debt.
Collegium's operational metrics showed a notable increase in selling, general, and administrative expenses, which rose to $67.1 million in the third quarter, up from $62.0 million a year earlier. This increase was driven by higher salaries and marketing expenses related to the commercialization of Jornay PM following the Ironshore acquisition. The company also reported a significant rise in intangible asset amortization, which increased to $55.5 million from $40.8 million, reflecting the full quarter's amortization of the intangible assets acquired from Ironshore.
In terms of strategic developments, Collegium completed the acquisition of Ironshore Therapeutics in September 2024, which expanded its product portfolio into the ADHD market with Jornay PM. The company has also been actively managing its debt, with a total of $581.3 million outstanding under its 2024 Term Loan as of September 30, 2025. The company reported cash and cash equivalents of $150.1 million, alongside marketable securities of $135.8 million, providing a solid liquidity position to support ongoing operations and future growth initiatives.
Looking ahead, Collegium remains focused on leveraging its expanded product portfolio to drive sales growth while managing operational costs. The company anticipates that its current cash reserves, combined with expected cash inflows from operations, will be sufficient to meet its operational and capital requirements in the foreseeable future. However, it acknowledges the inherent risks associated with the commercialization of pharmaceutical products, including market competition and regulatory challenges.
About COLLEGIUM PHARMACEUTICAL, INC
Collegium Pharmaceutical is a biopharmaceutical company focused on developing and commercializing differentiated products for serious medical conditions, including pain management and ADHD. Its portfolio features abuse-deterrent opioids, ADHD stimulants, and treatments for opioid-induced constipation. The company emphasizes innovative formulations, regulatory compliance, and intellectual property protection, serving healthcare providers and patients in the U.S. through a direct sales force and strategic licensing agreements.
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