Collegium Pharmaceutical, Inc. reported strong financial results for the first quarter ended March 31, 2025, with quarterly net revenue reaching $177.8 million, a 23% increase year-over-year. Jornay PM prescriptions grew by 24% year-over-year, generating $28.5 million in quarterly net revenue, and its prescriber base reached an all-time high. The company also completed its Jornay PM field force expansion, adding 55 new sales representatives for a total of approximately 180.
The pain portfolio contributed $149.2 million in net revenue, up 3% year-over-year, with all three core products recording revenue growth. Collegium ended the quarter with $197.8 million in cash, cash equivalents, and marketable securities, an increase from $162.8 million at December 31, 2024. The company also repaid an additional $16.1 million of its term loan principal.
The Board of Directors authorized a $25.0 million Accelerated Share Repurchase (ASR) program, reinforcing Collegium's commitment to returning value to shareholders. The company reaffirmed its full-year 2025 guidance for product revenues, net, adjusted operating expenses, and adjusted EBITDA, reflecting confidence in continued top- and bottom-line growth.
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