Flash FinanceUS
Market closed · weekend S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · Collegium Pharmaceutical (COLL)

Collegium Completes $650 Million AZSTARYS Acquisition and Raises 2026 Guidance

Positive Impact 4 of 5 m&a Written later

Collegium Pharmaceutical completed its acquisition of AZSTARYS, an ADHD medicine, on May 12, 2026, for approximately $650 million in cash, subject to customary adjustments. The company raised its 2026 product revenue and adjusted EBITDA guidance to include the acquisition, but its Chief Commercial Officer and Chief Medical Officer are both departing.

Key points

  • Purchase price of approximately $650 million in cash, funded by about $350 million of existing cash and a $300 million delayed draw term loan, with up to $135 million more tied to future milestones
  • 2026 Product Revenues, Net guidance raised to $865 million to $895 million from $805 million to $825 million
  • 2026 Adjusted EBITDA guidance raised to $475 million to $500 million from $455 million to $475 million
  • Chief Commercial Officer Scott Dreyer departs effective August 30, 2026; Chief Medical Officer Thomas Smith departs after a transition period

The filing

CompanyCollegium Pharmaceutical (COLL)
Form8-K, current report
Filed with the SECMay 12, 2026, 7:43 AM ET
Accession number0001104659-26-059018

Items reported: 2.01 Acquisition or Disposition Completed5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:59 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 12, 2026.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.