Collegium Pharmaceutical reports Q2 EPS 34c, consensus 29c

Reports Q2 revenue $ $135.5M , consensus $138.4M. 2Q-end cash, equivalents, marketable securities $325.5M…”We are on track to make 2023 a banner year. In the first half of the year, we achieved strong financial results, and we are well positioned to deliver on our financial and strategic objectives in the second half of the year,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “The Board of Directors’ authorization of a $50 million Accelerated Share Repurchase program reinforces our confidence in the business and commitment to deliver value to our shareholders through effective deployment of our balance sheet. For the remainder of 2023, we are focused on maximizing the potential of our pain portfolio, executing on our capital deployment strategy and taking actions to position the company for growth in 2024.” “In the second quarter, we generated strong financial results characterized by year-over-year double-digit revenue growth, disciplined expense management and strong operating cash flows,” said Colleen Tupper, Chief Financial Officer of Collegium. “We delivered a strong performance in the first half, and we expect revenues to increase and expenses to decrease in the second half of 2023.”