$COLL
COLLEGIUM PHARMACEUTICAL, INC

2019 Q4 Form 10-Q Financial Statement

#000155837019010153 Filed on November 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $74.20M $72.94M $70.18M
YoY Change 1.06% 3.94% 487.25%
Cost Of Revenue $49.09M $46.75M $46.01M
YoY Change 65.13% 1.62% 8264.91%
Gross Profit $25.12M $26.19M $24.17M
YoY Change -42.53% 8.35% 112.01%
Gross Profit Margin 33.85% 35.9% 34.44%
Selling, General & Admin $25.09M $30.07M $33.45M
YoY Change -17.61% -10.09% 46.96%
% of Gross Profit 99.9% 114.83% 138.39%
Research & Development $2.398M $2.491M $1.907M
YoY Change 6.63% 30.62% -7.87%
% of Gross Profit 9.55% 9.51% 7.89%
Depreciation & Amortization $3.900M $3.800M $32.50M
YoY Change -75.47% -88.31% 16150.0%
% of Gross Profit 15.53% 14.51% 134.47%
Operating Expenses $27.49M $32.56M $35.36M
YoY Change -15.94% -7.9% 42.39%
Operating Profit -$2.373M -$6.375M -$11.19M
YoY Change -121.57% -43.01% -16.71%
Interest Expense $211.0K $228.0K $5.868M
YoY Change -91.22% -96.11% 3351.76%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.200M -$6.109M -$16.50M
YoY Change -124.2% -62.98% 24.43%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.201M -$6.109M -$16.50M
YoY Change -124.22% -62.98% 24.45%
Net Earnings / Revenue -2.97% -8.38% -23.52%
Basic Earnings Per Share -$0.18 -$0.50
Diluted Earnings Per Share -$65.22K -$0.18 -$0.50
COMMON SHARES
Basic Shares Outstanding 33.53M 33.48M 33.01M
Diluted Shares Outstanding 33.48M 33.01M

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $170.0M $153.8M $139.8M
YoY Change 15.96% 10.01% 29.93%
Cash & Equivalents $170.0M $153.8M $139.8M
Short-Term Investments
Other Short-Term Assets $141.0K $2.800M $3.400M
YoY Change -86.01% -17.65% -17.07%
Inventory $9.643M $8.760M $9.200M
Prepaid Expenses $1.222M
Receivables $72.95M $84.38M $66.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $255.7M $249.8M $219.0M
YoY Change 7.67% 14.06% 84.19%
LONG-TERM ASSETS
Property, Plant & Equipment $11.85M $11.58M $6.000M
YoY Change 27.82% 92.98% 275.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $178.0K $204.0K $200.0K
YoY Change -12.75% 2.0% -33.33%
Total Long-Term Assets $50.58M $54.19M $427.5M
YoY Change -5.86% -87.32% 11150.0%
TOTAL ASSETS
Total Short-Term Assets $255.7M $249.8M $219.0M
Total Long-Term Assets $50.58M $54.19M $427.5M
Total Assets $306.3M $304.0M $646.5M
YoY Change 5.17% -52.98% 426.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.247M $11.98M $11.70M
YoY Change -48.58% 2.4% 134.0%
Accrued Expenses $33.48M $20.61M $151.4M
YoY Change 9.59% -86.38% 684.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.800M $2.900M $800.0K
YoY Change 137.5% 262.5% -61.9%
Total Short-Term Liabilities $201.8M $201.5M $280.2M
YoY Change 6.68% -28.09% 961.36%
LONG-TERM LIABILITIES
Long-Term Debt $7.700M $8.600M $10.70M
YoY Change -22.22% -19.63%
Other Long-Term Liabilities $9.400M $9.600M $284.8M
YoY Change 1290.53% -96.63%
Total Long-Term Liabilities $17.10M $18.20M $295.5M
YoY Change 2429.59% -93.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $201.8M $201.5M $280.2M
Total Long-Term Liabilities $17.10M $18.20M $295.5M
Total Liabilities $218.9M $219.7M $575.7M
YoY Change 9.62% -61.83% 2080.68%
SHAREHOLDERS EQUITY
Retained Earnings -$359.9M -$357.7M
YoY Change 6.74%
Common Stock $34.00K $34.00K
YoY Change 3.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $87.43M $84.26M $70.78M
YoY Change
Total Liabilities & Shareholders Equity $306.3M $304.0M $646.5M
YoY Change 5.17% -52.98% 426.89%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$2.201M -$6.109M -$16.50M
YoY Change -124.22% -62.98% 24.45%
Depreciation, Depletion And Amortization $3.900M $3.800M $32.50M
YoY Change -75.47% -88.31% 16150.0%
Cash From Operating Activities $15.70M $6.000M $41.80M
YoY Change -62.88% -85.65% -434.4%
INVESTING ACTIVITIES
Capital Expenditures -$900.0K -$1.300M -$2.700M
YoY Change -50.0% -51.85% 800.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$900.0K -$1.300M -$2.700M
YoY Change -50.0% -51.85% 800.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.400M 400.0K -33.00M
YoY Change -104.15% -101.21% -454.84%
NET CHANGE
Cash From Operating Activities 15.70M 6.000M 41.80M
Cash From Investing Activities -900.0K -1.300M -2.700M
Cash From Financing Activities 1.400M 400.0K -33.00M
Net Change In Cash 16.20M 5.100M 6.100M
YoY Change 138.24% -16.39% -274.29%
FREE CASH FLOW
Cash From Operating Activities $15.70M $6.000M $41.80M
Capital Expenditures -$900.0K -$1.300M -$2.700M
Free Cash Flow $16.60M $7.300M $44.50M
YoY Change -62.36% -83.6% -464.75%

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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
531000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4087000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
721000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
470000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
627000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-83525000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
7205000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
20996000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146633000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
118794000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
153838000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
139790000
coll Cash Paid For Offering Costs
CashPaidForOfferingCosts
30000
us-gaap Interest Paid Net
InterestPaidNet
543000
us-gaap Interest Paid Net
InterestPaidNet
409000
coll Receivable From Stock Option Exercises In Other Current Assets
ReceivableFromStockOptionExercisesInOtherCurrentAssets
5000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
552000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
1456000
coll Operating Lease Assets Assumed
OperatingLeaseAssetsAssumed
9957000
coll Operating Lease Liabilities Assumed
OperatingLeaseLiabilitiesAssumed
10691000
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
22406000
us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
254000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.62
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.46
coll Asset Acquisition Costs Accumulated Rebates Incentives Trade Allowances And Chargebacks Assumed
AssetAcquisitionCostsAccumulatedRebatesIncentivesTradeAllowancesAndChargebacksAssumed
22660000
coll Asset Acquisition Costs Accumulated Warrant Issued
AssetAcquisitionCostsAccumulatedWarrantIssued
8043000
coll Asset Acquisition Costs Accumulated Total
AssetAcquisitionCostsAccumulatedTotal
162299000
CY2019Q3 coll Royalty Payable Remainder Of Fiscal Year
RoyaltyPayableRemainderOfFiscalYear
132000000
CY2018Q4 coll Interest Expense Recognized Relating To Royalty Payments Prior To Third Amendment
InterestExpenseRecognizedRelatingToRoyaltyPaymentsPriorToThirdAmendment
19281000
CY2019Q3 coll Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssets
154089000
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9219000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
10362000
us-gaap Revenue Practical Expedient Incremental Cost Of Obtaining Contract
RevenuePracticalExpedientIncrementalCostOfObtainingContract
true
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
72942000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
70176000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
222498000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
206986000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-6109000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-16502000
us-gaap Net Income Loss
NetIncomeLoss
-20521000
us-gaap Net Income Loss
NetIncomeLoss
-48214000
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33481923
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33012174
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33360272
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32950584
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.50
CY2019Q3 coll Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
6223000
CY2019Q3 coll Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Prepaid Expenses
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPrepaidExpenses
1987000
CY2019Q3 coll Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Net
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
162299000
CY2019Q3 coll Royalty Payment Due
RoyaltyPaymentDue
537000000
CY2019Q3 coll Royalty Payable Remainder Of Fiscal Year
RoyaltyPayableRemainderOfFiscalYear
132000000
CY2018Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2019Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2019Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
1531000
CY2018Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
496000
CY2019Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
889000
CY2018Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
671000
CY2019Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
6340000
CY2018Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
6650000
CY2019Q3 us-gaap Inventory Net
InventoryNet
8760000
CY2018Q4 us-gaap Inventory Net
InventoryNet
7817000
coll Upfront Cash Paid For Asset Acquisition
UpfrontCashPaidForAssetAcquisition
18877000
coll Minimum Royalty Payment Liability
MinimumRoyaltyPaymentLiability
112719000
CY2019Q3 coll Royalty Payable Year Two
RoyaltyPayableYearTwo
135000000
CY2019Q3 coll Royalty Payable Year Three
RoyaltyPayableYearThree
135000000
coll Asset Acquisition Costs Accumulated Warrant Issued
AssetAcquisitionCostsAccumulatedWarrantIssued
8043000
CY2018Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y
coll Amortization Expense Recognized Prior To Third Amendment
AmortizationExpenseRecognizedPriorToThirdAmendment
107662000
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3688000
CY2018Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1041667
CY2018Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
19.20
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32407000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11064000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
94340000
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P2Y3M18D
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3688000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
14752000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
14751000
CY2019Q3 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
9464000
CY2018Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
15138000
CY2019Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3289000
CY2018Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
4286000
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1949000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1544000
CY2019Q3 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1354000
CY2018Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1806000
CY2019Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
716000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
480000
CY2019Q3 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
651000
CY2018Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
2193000
CY2019Q3 us-gaap Interest Payable Current
InterestPayableCurrent
429000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
274000
CY2019Q3 coll Accrued Inventory Current
AccruedInventoryCurrent
222000
CY2018Q4 coll Accrued Inventory Current
AccruedInventoryCurrent
3745000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2540000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1085000
CY2019Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
20614000
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30551000
CY2012Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3833000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3833000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3834000
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
11500000
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9219000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
10362000
us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
452000
us-gaap Operating Lease Cost
OperatingLeaseCost
1157000
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
219000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
531000
CY2019Q3 us-gaap Lease Cost
LeaseCost
671000
us-gaap Lease Cost
LeaseCost
1688000
coll Schedule Of Lease Quantitative Details
ScheduleOfLeaseQuantitativeDetails
<p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:28.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="background-color:auto;vertical-align:bottom;width:67%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-family:'Calibri';font-size:11pt;visibility:hidden;">​</span></p></td><td colspan="2" style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:30.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">As of September 30, </b></p></td></tr><tr><td style="background-color:auto;vertical-align:bottom;width:67%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Lease Term and Discount Rate:</p></td><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-family:'Calibri';font-size:11pt;visibility:hidden;">​</span></p></td><td colspan="2" style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:30.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2019</b></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:67%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Weighted-average remaining lease term — operating leases (years)</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-family:'Calibri';font-size:11pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-family:'Calibri';font-size:11pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:28.24%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 9.7</p></td></tr><tr><td style="vertical-align:bottom;width:67%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Weighted-average discount rate — operating leases</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-family:'Calibri';font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-family:'Calibri';font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:28.24%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;">6.1%</p></td></tr></table>
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y8M12D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.08
CY2019Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
232000
CY2019Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
373000
CY2019Q3 coll Stock Withheld For Employee Taxes Upon Vesting Of Restricted Stock Units Value
StockWithheldForEmployeeTaxesUponVestingOfRestrictedStockUnitsValue
-198000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4137000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-6109000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
84258000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
104080000
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2373000
us-gaap Operating Lease Payments
OperatingLeasePayments
748000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
340000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1334000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1290000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1328000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1366000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
8263000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13921000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3559000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
10362000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1032000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1305000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1261000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1299000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1337000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
8423000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
14657000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
91585000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
246000
CY2019Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
444000
CY2019Q1 coll Stock Withheld For Employee Taxes Upon Vesting Of Restricted Stock Units Value
StockWithheldForEmployeeTaxesUponVestingOfRestrictedStockUnitsValue
-488000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4263000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-9700000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
86350000
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
58000
CY2019Q2 coll Stock Withheld For Employee Taxes Upon Vesting Of Restricted Stock Units Value
StockWithheldForEmployeeTaxesUponVestingOfRestrictedStockUnitsValue
-35000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4162000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-4712000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
85823000
CY2018Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
510000
CY2018Q1 coll Stock Withheld For Employee Taxes Upon Vesting Of Restricted Stock Units Value
StockWithheldForEmployeeTaxesUponVestingOfRestrictedStockUnitsValue
-216000
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2728000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-18652000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
90823000
CY2018Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1532000
CY2018Q2 coll Stock Withheld For Employee Taxes Upon Vesting Of Restricted Stock Units Value
StockWithheldForEmployeeTaxesUponVestingOfRestrictedStockUnitsValue
-140000
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3526000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-13060000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
82681000
CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
182000
CY2018Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
607000
CY2018Q3 coll Stock Withheld For Employee Taxes Upon Vesting Of Restricted Stock Units Value
StockWithheldForEmployeeTaxesUponVestingOfRestrictedStockUnitsValue
-114000
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3926000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-16502000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
70780000
CY2017Q1 coll Sale Of Stock Consideration Received If Additional Shares Are Issued
SaleOfStockConsiderationReceivedIfAdditionalSharesAreIssued
60000000
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0
CY2018 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4137000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3926000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12562000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10180000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3585856
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.20
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11170000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1045658
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M12D
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
3108000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
52182
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
10.27
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
438703
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
17.96
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4140629
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.81
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M12D
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3611000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2147473
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.61
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.024
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.026
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.632
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.650
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y21D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
coll Employee Stock Purchase Plan Purchase Price Percentage
EmployeeStockPurchasePlanPurchasePricePercentage
0.85
CY2019Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
41316
CY2019Q3 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
373000
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
74142
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
817000
CY2019Q3 coll Employee Stock Purchase Plan Compensation Expense
EmployeeStockPurchasePlanCompensationExpense
120000
CY2018Q3 coll Employee Stock Purchase Plan Compensation Expense
EmployeeStockPurchasePlanCompensationExpense
156000
coll Employee Stock Purchase Plan Compensation Expense
EmployeeStockPurchasePlanCompensationExpense
293000
coll Employee Stock Purchase Plan Compensation Expense
EmployeeStockPurchasePlanCompensationExpense
398000
coll Loss Contingency Stay Period Before Final Federal Drug Administration Approval Can Be Issued If Patent Infringement Litigation Elected
LossContingencyStayPeriodBeforeFinalFederalDrugAdministrationApprovalCanBeIssuedIfPatentInfringementLitigationElected
P30M
coll Loss Contingency Stay Period Before Final Federal Drug Administration Approval Can Be Issued If Patent Infringement Litigation Elected
LossContingencyStayPeriodBeforeFinalFederalDrugAdministrationApprovalCanBeIssuedIfPatentInfringementLitigationElected
P30M
coll Number Of Patents Listed In Fda Orange Book
NumberOfPatentsListedInFdaOrangeBook
15
coll Number Of Patents Listed In Fda Orange Book
NumberOfPatentsListedInFdaOrangeBook
15
CY2018Q2 coll Number Of Lawsuits Filed
NumberOfLawsuitsFiled
2
CY2018Q2 coll Number Of Lawsuits Filed
NumberOfLawsuitsFiled
4
CY2018Q3 coll Number Of Lawsuits Filed
NumberOfLawsuitsFiled
2

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