Collegium Pharmaceutical EVP Sells Nearly 50,000 Shares Worth $2 Million

Transaction worth based connected SEC Form 4 weighted mean acquisition terms ($40.41); post-transaction worth based connected March 24, 2026, marketplace adjacent ($33.23).

• How does the size of this merchantability comparison to Dreyer's humanities trading behavior?
  This merchantability of 49,976 shares is substantially larger than Dreyer's humanities median merchantability transaction of 15,387 shares, and it accounts for a higher stock of his disposable holdings than anterior sales.

• What interaction does this transaction person connected Dreyer's wide ownership successful Collegium Pharmaceutical?
  Following the transaction, Dreyer's nonstop ownership decreased by 41.0%, leaving him with 71,770 shares held straight and nary shares held indirectly -- a diminished but inactive meaningful equity stake.

• Was determination immoderate indirect oregon derivative information successful this transaction?
  No. All shares sold were held directly, with zero engagement from trusts, household entities, oregon banal options.

*1-year show calculated utilizing March 24, 2026, arsenic the notation date.

• Collegium Pharmaceutical develops and commercializes specialty symptom absorption products, including Xtampza ER and Nucynta ER/IR -- abuse-deterrent, extended-release, and immediate-release opioid formulations.

• The institution generates gross done the merchantability of proprietary branded pharmaceuticals and leverages proprietary exertion to code unmet needs successful chronic symptom attraction portion aiming to trim misuse risk.

A astir 42,000-share merchantability by a institution EVP mightiness rise eyebrows -- but the astir important item present is casual to miss successful the good print: this transaction was carried retired nether a Rule 10b5-1 trading program that Dreyer enactment successful spot backmost successful September 2025, months earlier the merchantability occurred. These pre-scheduled plans are a regular instrumentality executives usage to merchantability shares astatine predetermined times and prices, specifically to debar immoderate quality of trading connected wrong information.

It's besides worthy noting that Dreyer inactive holds 71,770 shares worthy astir $2.4 cardinal astatine today’s prices -- not a trivial magnitude for an enforcement astatine a small-cap specialty pharma company.