Collegium cuts 2026 revenue guidance on weaker Nucynta generic pricing

Collegium Pharmaceutical reported financial results for the quarter ended June 30, 2026 on August 6, 2026, and provided a business update.

The company generated quarterly net revenues of $199.9 million, up 6% year-over-year, with JORNAY PM quarterly net revenue of $46.1 million, up 41% year-over-year.¹ In May, Collegium completed the acquisition of AZSTARYS from Corium Therapeutics.¹ The deal contributed $12.9 million in AZSTARYS net revenue for the period from May 12, 2026, through the June 30 close of the quarter.¹

The pain portfolio showed mixed results. Pain portfolio net revenues were $140.9 million in the quarter, down 9% year-over-year.¹ Nucynta Franchise net revenue was $35.2 million in the quarter, down 24% year-over-year, which included $5.1 million from the sale of the authorized generic versions of Nucynta and Nucynta ER.¹

Collegium updated its full-year 2026 guidance. The company reaffirmed its guidance for JORNAY PM and raised its AZSTARYS Revenue, Net outlook, while lowering guidance for Product Revenues, Net, and Adjusted EBITDA.¹ Product Revenues, Net guidance moved from a prior range of $865 to $895 million down to $825 to $855 million, while Adjusted EBITDA guidance moved from $475 to $500 million down to $445 to $470 million.¹ Collegium said the reductions were largely driven by lower-than-expected revenue from the AG versions of Nucynta and Nucynta ER due to lower net pricing.¹

On profitability, the company posted a GAAP net loss for the quarter of $15.1 million, or $0.46 per share on both a basic and diluted basis, compared with GAAP net income of $12.0 million, or $0.38 per basic share and $0.34 per diluted share, in the prior-year quarter.¹