Why Collegium Pharmaceutical's Shares Are Trading Higher Today

Collegium Pharmaceutical Inc COLL updated financial guidance for FY22 to include the expected impact of the BioDelivery Sciences International Inc (BDSI) acquisition.
"Near-term, we are laser-focused on seamless integration of BDSI, maximizing the potential of the portfolio, renegotiation of Xtampza ER contracts to ensure <65% gross-to-nets by January 2023, and allocating capital to create long term shareholder value," said Joe Ciaffoni, President and CEO of Collegium.
Related: Collegium Pharma Broadens Its Pain Portfolio With $600M BioDelivery Sciences Deal.
"We anticipate significant product revenue growth in 2022, driven by Xtampza ER and the addition of the BDSI product portfolio," said Colleen Tupper, Chief Financial Officer of Collegium. "We have already made significant progress on cost savings following the close of the BDSI acquisition and are on track to exceed targeted run-rate synergies of at least $75 million."
The Company expects FY22 sales of $450.0 million - $465.0 million, up approximately 65% compared to 2021, versus the consensus of $436.19 million.
Total adjusted operating expenses are expected to be $130.0 million to $140.0 million.
Total adjusted EBITDA is forecasted to be $235 million - $250 million.
Price Action: COLL shares are up 6.29% at $20.45 during the market session on the last check Tuesday.