Collegium falls on lower-than-expected Q1 revenue

Collegium Pharmaceutical

10/05/2024 15:54

** Collegium Pharmaceutical Inc's  COLL.O  shares down
12.52% at $33.12
    ** Co reports Q1 revenue of $144.90 mln vs LSEG estimate of
$146.90 mln
    ** Posts Q1 net income of $27.70 mln vs loss of $17.40 mln a
year earlier 
    ** In separate release, co announces Joe Ciaffoni will step
down as CEO, effective May 24
    ** Board chair Michael Heffernan will serve as interim CEO 
    ** Brokerage Needham cuts rating to 'hold' from 'buy' 
    ** Stock up about 9.5% YTD

 (Reporting by Vaibhav Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))