Collegium Pharmaceutical Inc. (NASDAQ: COLL) posted second‑quarter results for the period ended June 30, 2026. Adjusted earnings per share were $1.92, surpassing the Wall Street consensus of $1.72 by $0.20. Net revenue for the quarter was $199.9 million, falling short of the consensus estimate of $201.4 million, although it represented a 6 % increase over the $188.0 million recorded in the same quarter of fiscal 2025.
The company revised its full‑year 2026 revenue outlook to a range of $825 million to $855 million, down from the prior $865 million‑$895 million range. The midpoint of $840 million is below the analyst consensus of $869.9 million.
President and Chief Executive Officer Vikram Karnani said the quarter featured strong demand across the ADHD franchise, highlighted by record‑high prescriptions of JORNAY PM and a 41 % year‑over‑year revenue growth for that product. JORNAY PM generated $46.1 million in net revenue. The recently acquired AZSTARYS, purchased from Corium Therapeutics in May, contributed $12.9 million in revenue for the period May 12‑June 30. The company raised its AZSTARYS full‑year revenue guidance to $65 million‑$75 million, up from the prior $60 million‑$70 million range.
The pain‑management portfolio posted $140.9 million in net revenue, a 9 % decline year‑over‑year, driven primarily by lower‑than‑expected sales of authorized generic versions of Nucynta and Nucynta ER, which were impacted by reduced net pricing.
Adjusted EBITDA guidance for 2026 was lowered to $445 million‑$470 million, compared with the earlier $475 million‑$500 million range.
Following the release, shares fell approximately 13.5 % in pre‑market trading.