- Shares of pain management drug concern Collegium Pharmaceutical have fallen over 40% as the biotech selloff, negative attitudes towards opiates, and patent cliffs have taken a toll.
- The company's recent purchase of BioDelivery Sciences provides it with complementary suite of assets, an entry into neurology, and $75 million of cost synergies.
- With high leverage expected to deflate by YE22 and currently trading at three times FY22E EPS, Collegium merited a deeper dive.
- A full analysis follows in the paragraphs below.
For further details see:
Collegium Pharmaceutical: Oversold And Cheap