Collegium Pharmaceutical expands board with new director

STOUGHTON, Mass. - Collegium Pharmaceutical , Inc. (NASDAQ:COLL), a diversified biopharmaceutical company with a market capitalization of nearly $1 billion and impressive gross profit margins of 87%, has announced the addition of Nancy S. Lurker to its Board of Directors, effective as of Monday. The appointment comes as Collegium seeks to strengthen its board with Lurker’s extensive experience in commercial growth and strategic acquisitions.

Lurker’s background includes a recent tenure as President and CEO of EyePoint Pharmaceuticals (NASDAQ:EYPT), Inc., where she continued to serve as Executive Vice-Chair of the board until 2023. Her previous roles include leadership positions at PDI (OTC:IDXG), Inc., Novartis (SIX:NOVN) Pharmaceuticals, and ImpactRx, Inc. Additionally, Lurker holds board positions at Alkermes (NASDAQ:ALKS) plc and Altasciences, LLC, and advisory roles with Novo Holdings and Stanford Medicine’s Master of Science in Translational Research and Applied Medicine program. According to InvestingPro data, Collegium’s strong financial health score and recent analyst upgrades suggest the company is well-positioned for growth.

Collegium’s Founder and Chairman Mike Heffernan expressed confidence that Lurker’s expertise will be invaluable to the company’s ongoing efforts to improve the lives of people with serious medical conditions. With revenue growth of 9.6% and a favorable P/E ratio of 11.2, the company demonstrates solid financial performance. Lurker herself expressed enthusiasm for contributing to Collegium’s mission during a crucial phase of growth, following its recent foray into the neuropsychiatry market with the acquisition of ADHD treatment Jornay PM. For detailed analysis and additional insights, investors can access comprehensive research reports on InvestingPro, which covers over 1,400 US stocks including Collegium.

Collegium is focused on expanding its commercial portfolio, with Jornay PM as a key driver, and aims to deploy capital in a disciplined manner to foster growth. Based on InvestingPro’s Fair Value analysis, the stock appears undervalued, presenting a potential opportunity for investors. The company’s strategic direction includes managing its product relationships, maintaining regulatory approvals, and securing adequate manufacturing supplies.

This press release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially. These risks include market conditions, competition, regulatory developments, and the need for additional financing, among others.

Lurker’s appointment is based on a press release statement from Collegium Pharmaceutical, Inc. and reflects the company’s commitment to enhancing its leadership to support its strategic objectives in the biopharmaceutical sector.

In other recent news, Collegium Pharmaceutical reported robust growth in its third quarter, with a 17% increase in total revenue and an 18% rise in adjusted EBITDA year-over-year. The company’s net revenue is projected to surpass $100 million in 2024, largely due to the successful integration of Ironshore Therapeutics and its ADHD treatment, Jornay PM. Additionally, the pain management portfolio, including Belbuca and Xtampza ER, demonstrated strong performance.

In other developments, Collegium Pharmaceutical expanded its board of directors and appointed Nancy Lurker as a new board member. Lurker’s extensive experience includes leadership roles at EyePoint Pharmaceuticals, PDI, Novartis Pharmaceuticals Corporation, Pharmacia Corporation, ImpactRx, and Bristol-Myers Squibb Company (NYSE:BMY).

Financial services firm Jefferies recently adjusted its stance on Collegium Pharmaceutical, lowering its price target on the stock to $40.00 from the previous $44.00, while maintaining a Buy rating. This revision comes after a model update following Collegium’s third-quarter results, with Jefferies expressing optimism about the company’s pain management portfolio and potential long-term growth drivers.

These updates represent recent developments for Collegium Pharmaceutical, as the company continues to focus on leveraging its recent acquisition and strong product portfolio to ensure continued financial growth and market expansion.

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