Why is Collegium Pharmaceutical stock tumbling today?
Collegium Pharmaceutical shares fell about 13% in pre-open trading after it reported Q2 2026 results and cut full-year revenue guidance. Net revenues were $199.9M, up 6.3% but below analysts’ ~$201.2M-$201.4M. Adjusted EPS was $1.92 and adjusted EBITDA $113.8M. The pain portfolio faced generic competition, while JORNAY PM rose 41% to $46.1M and AZSTARYS added $12.9M.


