{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-059018","form_type":"8-K","ticker":"COLL","cik":"0001267565","company_name":"COLLEGIUM PHARMACEUTICAL, INC","filed_at":"2026-05-12T11:43:29+00:00","discovered_at":"2026-05-12T11:45:00.333404+00:00","generated_at":"2026-05-12T11:45:12.734093+00:00","sec_items":["2.01","5.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Collegium completes $650M acquisition of AZSTARYS; raises 2026 guidance","bullets":["Acquired AZSTARYS from Corium Therapeutics for ~$650M cash; up to $135M in commercial/mfg milestones.","Funded by $350M existing cash and $300M delayed draw term loan from Dec 2025 credit facility.","2026 guidance raised: product revenues $865M-$895M; Adj. EBITDA $475M-$500M; AZSTARYS seen at $60M-$70M remainder of year.","CCO Scott Dreyer departs Aug 30, 2026; CMO Thomas Smith departs after transition period; both treated as termination without cause.","Annual run-rate synergies expected >$50M within 12 months; AZSTARYS has patent protection through Dec 2037."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-059018","json":"https://secwatch.observer/filing/0001104659-26-059018.json","markdown":"https://secwatch.observer/filing/0001104659-26-059018.md","text":"https://secwatch.observer/filing/0001104659-26-059018.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1267565/000110465926059018/0001104659-26-059018-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1267565/000110465926059018/tm2614189d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-12T11:45:12.734093+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a741068126","claim":"Thomas Smith departed as Executive Vice President and Chief Medical Officer at COLLEGIUM PHARMACEUTICAL, INC.","evidence_excerpt":"Thomas Smith, M.D., Executive Vice President and Chief Medical Officer of the Company will depart from his positions at the Company following a transition period during which the Company will conduct a search for his successor.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1267565/000110465926059018/0001104659-26-059018-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"departed"},{"label":"Role","value":"Executive Vice President and Chief Medical Officer"}],"fact_type":"executive_change"},{"claim_id":"f59d2ff804","claim":"Scott Dreyer departed as Executive Vice President and Chief Commercial Officer at COLLEGIUM PHARMACEUTICAL, INC.","evidence_excerpt":"Scott Dreyer, Executive Vice President and Chief Commercial Officer of the Company will depart from his positions at the Company effective August 30, 2026.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1267565/000110465926059018/0001104659-26-059018-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"departed"},{"label":"Role","value":"Executive Vice President and Chief Commercial Officer"}],"fact_type":"executive_change"},{"claim_id":"7adc9670bedc45749a1e4d0f21118415a102efa6","claim":"COLLEGIUM PHARMACEUTICAL, INC completed an acquisition involving Corium Therapeutics Holdings, LLC and Corium, LLC for approximately $650 million in cash (closed 2026-05-12).","evidence_excerpt":"in people 6 years of age and older. The aggregate consideration paid by the Company at the Closing pursuant to the Purchase Agreement was approximately $650 million in cash (subject to customary adjustments for net working capital, indebtedness, cash, and transaction expenses), which was funded by approximately $350 million of the Company’s","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1267565/000110465926059018/0001104659-26-059018-index.htm","confidence":0.99,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Corium Therapeutics Holdings, LLC and Corium, LLC"},{"label":"Consideration","value":"approximately $650 million in cash"},{"label":"Closing","value":"2026-05-12"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}