COLL - Collegium rises on $25M accelerated share repurchase program

Collegium Pharmaceutical (NASDAQ:COLL) has surged pre-market after announcing an accelerated share repurchase agreement with Jefferies to buyback $25M of its common stock. The agreement is being executed under the pharmaceutical firm's $100M share repurchase program authorized in August 2021. Pursuant to the agreement, Collegium will pay $25M to Jefferies and will receive ~1,026,694 shares. As of September 30, 2021, the firm had approximately 34.8M shares outstanding. Collegium will have $52.2M remaining under the share repurchase authorization on completion of this agreement. COLL +6.01% pre-market

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Collegium rises on $25M accelerated share repurchase program