Collegium Pharmaceutical’s Jornay PM: Why These Conferences Signal a Breakout Opportunity

The biopharmaceutical landscape is shifting, and Collegium Pharmaceutical (Nasdaq: COLL) stands at the intersection of two compelling trends: its pivot into neuropsychiatry via the breakthrough ADHD treatment Jornay PM, and a disciplined capital strategy that is primed to unlock valuation multiples. With upcoming investor conferences in May and June 2025, the company is signaling confidence in Jornay PM’s growth trajectory—and investors should take notice.

Jornay PM: The Growth Engine Igniting a New Chapter

Jornay PM, Collegium’s extended-release ADHD medication, is rapidly becoming the cornerstone of its strategy. In Q1 2025, Jornay PM’s net revenue surged to $28.5 million, with full-year guidance now targeting exceeding $135 million—a 34% year-over-year increase. This growth is fueled by a 24% rise in prescriptions and a sales force expansion that added 55 new representatives, bringing the total team to ~180, fully deployed to drive adoption.

But Jornay PM isn’t just a revenue booster—it’s a strategic pivot. By entering the ADHD market, Collegium is diversifying beyond its traditional pain portfolio (Belbuca®, Xtampza® ER), which still delivered $149.2 million in Q1 revenue, up 3% year-over-year. This dual-engine approach—stable pain cash flows funding Jornay PM’s ascent—creates a powerful flywheel for growth.

Conference Momentum: Confidence in Action

Collegium’s participation in two high-profile investor conferences—the Mizuho Neuro & Ophthalmology Summit (May 21) and the Jefferies Global Healthcare Conference (June 5)—is no accident. These events provide a platform to showcase Jornay PM’s progress and reinforce its neuropsychiatry leadership.

• Why These Events Matter:
• The Jefferies presentation, featuring a live webcast (accessible via Collegium’s investor page), will likely highlight Jornay PM’s 20% market share in the branded long-acting methylphenidate category, up from 14% a year ago.
• Management will emphasize Jornay PM’s clinical differentiation, including real-world data presented at the NAPNAP conference, which underscore its efficacy for all-day symptom control—a critical advantage in a market where patient adherence is key.
• Investors will hear how Jornay PM’s $197.8 million in cash reserves and a newly authorized $25 million accelerated share repurchase program position the company to capitalize on opportunities without dilution.

Market Opportunity: ADHD’s $14 Billion Runway

The ADHD market is massive and growing. With ~6.1 million U.S. adults and 6.2 million children diagnosed, the category is projected to hit $14 billion by 2028. Jornay PM’s unique profile—the only once-daily ADHD treatment with proven efficacy through evening/night symptoms—places it in a highly defensible niche.

Competitors like Shire’s Vyvanse and Elevate’s Daytrana struggle to match Jornay PM’s all-day convenience and clinical outcomes. This first-mover advantage is why prescribers are increasingly turning to Jornay PM, with the drug now used by an all-time high of 25,000 clinicians.

Why Now is the Inflection Point

Collegium’s Q2/Q3 catalysts are critical:
1. June 5 Jefferies Presentation: Expect detailed updates on Jornay PM’s sales force impact and 2025 guidance. Positive reception here could trigger a re-rating of the stock, currently trading at a discount to peers.
2. Jornay PM’s Clinical Pipeline: With real-world data now published and more studies in the works, Collegium can further solidify Jornay PM’s position as a gold-standard treatment.
3. Debt Reduction & Capital Efficiency: The company’s $16.1 million debt repayment in Q1 and $25 million buyback show fiscal discipline, reducing risks and freeing cash to fuel growth.

Investment Thesis: Position Ahead of the Surge

The data tells a clear story: Jornay PM is accelerating, and Collegium’s strategy is execution-ready. The upcoming conferences are not just checkpoints—they’re launchpads for investor confidence.

• Valuation Catalysts:
• Jornay PM’s 34% revenue growth guidance could push earnings estimates higher, while its expanding margin profile (due to scale) adds upside.
• A shift from a “pain company” to a neuropsychiatry leader could attract new investors, lifting multiples.

Final Call to Action

The pieces are in place for Collegium to outperform. With Jornay PM’s growth trajectory, disciplined capital allocation, and the June 5 Jefferies presentation on the horizon, now is the time to position for this breakout opportunity.

The ADHD market isn’t going anywhere—and neither is Jornay PM. Investors who act now will be rewarded as Collegium’s strategy gains traction.

This article is for informational purposes only. Always conduct your own research or consult a financial advisor before making investment decisions.