---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-096647"
form_type: "8-K"
ticker: "COLL"
cik: "0001267565"
company_name: "COLLEGIUM PHARMACEUTICAL, INC"
filed_at: "2024-09-04T23:59:59+00:00"
generated_at: "2026-05-31T06:23:56.346972+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Collegium closes $525M Ironshore acquisition; adds Jornay PM, boosts 2024 outlook

## Summary
- Ironshore acquired for $525M cash plus potential $25M milestone based on Jornay PM 2025 net revenue.
- Jornay PM (ADHD) expected >$100M net revenue in 2024; prescriptions grew 32% YoY in H1 2024.
- 2024 guidance updated: product revenue $620-635M, adjusted EBITDA $395-405M, reflecting four months of Ironshore.
- Financed with $200M cash and $325M draw on new $646M term loan; interest rate reduced 300 bps.
- Establishes presence in neurology/ADHD; Jornay PM poised as leading growth driver; patents to 2032.

## SEC filing metadata
- accession: 0001104659-24-096647
- form_type: 8-K
- ticker: COLL
- cik: 0001267565
- company_name: COLLEGIUM PHARMACEUTICAL, INC
- filed_at: 2024-09-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1267565/000110465924096647/0001104659-24-096647-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1267565/000110465924096647/tm2423139d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-096647
- JSON: https://secwatch.observer/filing/0001104659-24-096647.json
- Plain text: https://secwatch.observer/filing/0001104659-24-096647.txt

## Key facts
- M&A Transactions
  COLLEGIUM PHARMACEUTICAL, INC completed an acquisition involving Ironshore Therapeutics Inc. for approximately $525 million in cash (closed 2024-09-03).
  - Action: acquisition
  - Counterparty: Ironshore Therapeutics Inc.
  - Consideration: approximately $525 million in cash
  - Closing: 2024-09-03
  source text: The aggregate consideration paid by the Company at the Closing pursuant to the Merger Agreement was approximately $525 million in cash (subject to customary adjustments for net working capital, indebtedness, cash, and transaction expenses), with one potential future commercial milestone payment of $25 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1267565/000110465924096647/0001104659-24-096647-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.