Collegium Pharmaceutical posted Q2 GAAP net loss of $15.1 million, turning from profit; GAAP loss per share was $0.46.
Product revenues, net rose 6% year over year to $199.9 million; GAAP operating expenses climbed 45% to $106.6 million.
Non-GAAP adjusted EBITDA increased 8% to $113.8 million; non-GAAP adjusted net income rose to $75.4 million, or $1.92 per share.
JORNAY PM product revenue, net jumped 41% to $46.1 million; AZSTARYS added $12.9 million from May 12 through quarter-end after the acquisition closed.
2026 guidance cut for product revenues, net to $825 million-$855 million; adjusted EBITDA trimmed to $445 million-$470 million on lower authorized-generic Nucynta pricing.
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