Collegium Pharmaceutical's stock surged 8.46% in pre-market trading following the release of better-than-expected first quarter 2026 financial results.

The biopharmaceutical company reported quarterly revenue of $193.5 million, beating analyst estimates of $186 million and representing a 9% year-over-year increase. Adjusted earnings per share came in at $1.76, exceeding the consensus estimate of $1.59 and marking an 18% improvement from the same period last year.

Key growth drivers included JORNAY PM, which saw net revenue jump 36% year-over-year to $38.9 million, with prescriptions reaching an all-time high. The company also reaffirmed its full-year 2026 guidance and reported progress on its planned acquisition of AZSTARYS, which is expected to close in the second quarter and be immediately accretive to adjusted EBITDA.