Collegium Pharmaceutical, Inc. filed a Form 8-K on August 13, 2026, disclosing the execution of a $50 million accelerated share repurchase agreement with Jefferies LLC as part of a broader $150 million board-authorized buyback program.

Key Highlights

  • $50 million ASR: Collegium entered an accelerated share repurchase agreement with Jefferies LLC to repurchase $50 million of its common stock.
  • Initial delivery of 1,556,420 shares: The company will receive an initial delivery of 1,556,420 shares, based on the $25.70 closing stock price on August 12, 2026.
  • Approximately 80% of expected total: The initial share delivery represents approximately 80% of the total shares the company expects to repurchase under the ASR Agreement.
  • Part of $150 million program: The ASR Agreement was undertaken as part of a $150 million share repurchase program authorized by the Board of Directors in July 2025.
  • Final settlement expected by Q4 2026: The final settlement of the ASR Agreement is expected to be completed no later than the fourth quarter of 2026.
  • Shares outstanding: As of June 30, 2026, Collegium had approximately 32.5 million shares outstanding.

Collegium Pharmaceutical Executes Accelerated Share Repurchase With Jefferies LLC

According to the filing, Collegium Pharmaceutical, Inc. (NASDAQ:COLL) announced on August 12, 2026 the execution of an accelerated share repurchase agreement with Jefferies LLC. Under the terms of the ASR Agreement, the company will pay $50 million to Jefferies LLC. The initial share delivery of 1,556,420 shares was calculated based on the $25.70 closing stock price of Collegium's common stock on August 12, 2026, and represents approximately 80% of the total shares the company expects to repurchase under the agreement.

The filing noted that the final number of shares repurchased will be based on the volume-weighted average prices of Collegium's common stock during the term of the ASR Agreement and will be "subject to adjustments related to the terms and conditions of the ASR Agreement." Final settlement is expected no later than the fourth quarter of 2026. The company disclosed that as of June 30, 2026, it had approximately 32.5 million shares outstanding.

The company disclosed that the ASR Agreement is part of the $150 million share repurchase program authorized by its Board of Directors in July 2025. The filing contains forward-looking statements regarding the share repurchase program and the expected completion date of the ASR, which the company noted are subject to risks and uncertainties, including fluctuations in trading volume and market price of its common stock, as described more fully in its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.

What Was Disclosed

Collegium Pharmaceutical disclosed the execution of a $50 million accelerated share repurchase agreement with Jefferies LLC, including the initial delivery of 1,556,420 shares, the $25.70 per-share pricing basis, and an expected final settlement no later than the fourth quarter of 2026.