Collegium Pharmaceutical, Inc. raised $92.0 million in its follow-on offering at $16.00 per share. Needham acted as a co-lead manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 750,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Collegium Pharmaceutical, Inc. for the continued commercialization of Xtampza; funding research and development efforts of its other product candidates; and working capital and general corporate purposes, which may include the acquisition or licensing of product candidates, technologies, compounds, other assets or complementary businesses.
Collegium Pharmaceutical, Inc. (Nasdaq:COLL) is a specialty pharmaceutical company focused on developing a portfolio of products that incorporate its patent-protected DETERx technology platform for the treatment of chronic pain. The DETERx oral drug delivery technology is designed to provide extended-release delivery, unique abuse-deterrent properties, and flexible dose administration options.