Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock has been publicly traded on the NASDAQ Global Select Market under the symbol “COLL” since May 7, 2015. Prior to May 7, 2015, there was no public trading market for our common stock.
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Holders
As of January 31, 2024, there were 12 holders of record of our common stock. The number of holders of record does not include beneficial owners whose shares are held by nominees in street name.
Dividends
We have never declared or paid cash dividends on our common stock, and we do not expect to pay any cash dividends on our common stock in the foreseeable future.
Stock Performance Graph
The following graph sets forth the Company’s total cumulative shareholder return as compared to the NASDAQ Composite Index and the NASDAQ Biotechnology Index for the 5-year period beginning on December 31, 2018 through December 31, 2023.
Total cumulative shareholder return assumes an investment of $100.00 in cash in our common stock at the beginning of the 5-year period compared to the same investment in the NASDAQ Composite Index and the NASDAQ Biotechnology Index. Such returns are based on historical results and are not intended to suggest future performance. Data for the NASDAQ Composite Index and NASDAQ Biotechnology Index assume reinvestment of dividends, however no dividends have been declared on our common stock to date.
December 31,
December 31,
$100 investment in stock or index
2018
2023
Collegium Pharmaceutical, Inc. (COLL)
$
100.00
$
179.27
NASDAQ Composite Index (IXIC)
$
100.00
$
226.24
NASDAQ Biotechnology Index (NBI)
$
100.00
$
143.60
The performance graph and related information shall not be deemed to be “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act, except to the extent that we specifically incorporate it by reference into such filing.
Recent Sales of Unregistered Securities
There were no unregistered sales of equity securities during the period covered by this Form 10-K.
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Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table sets forth shares of common stock repurchased under our repurchase program authorized by our Board of Directors in January 2023 (the “2023 Repurchase Program”), as well as shares transferred to us from employees in satisfaction of minimum tax withholding obligations associated with the vesting of performance share units and restricted stock units during the three months ended December 31, 2023:
Period
Total number of shares purchased
Average Price Paid per Share
Total number of shares purchased as part of publicly announced plans or programs (1)
Maximum approximate dollar value of Shares that may yet be purchased under the plans or programs
(in thousands)
October 1, 2023 through October 31, 2023
467,247
$
23.10
462,442
$
50,000
November 1, 2023 through November 30, 2023
867,532
27.09
865,426
30,000
December 1, 2023 through December 31, 2023
59,791
27.12
57,349
25,000
Total
1,394,570
(2)
$
25.75
1,385,217
(2)
$
25,000
(1) The 2023 Repurchase Program was announced on January 4, 2023. The 2023 Repurchase Program provided for the repurchase of up to $100.0 million of outstanding shares of our common stock at any time or times through December 31, 2023. The 2023 Repurchase Program expired on December 31, 2023 with approximately $25.0 million available for repurchase at the time of expiration.
(2) The difference, if any, between the total number of shares purchased and the total number of shares purchased as part of a publicly announced program relates to common stock withheld by us for employees to satisfy their tax withholding obligations arising upon the vesting of performance share units and restricted stock units granted under our Amended and Restated 2014 Stock Incentive Plan.
Item 6. [Reserved]
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