Collegium Pharma Shares Surge 37% As FDA Panels Back Painkiller

Collegium Pharmaceuticals Inc. shares surged 37% in premarket trading Monday, after the company won the backing of two Food and Drug Administration panels for a treatment for severe pain. The Anesthetic and Analgesic Drug Products Advisory Committee and Drug Safety and Risk Management Advisory Committee of the FDA voted unanimously to support the approval of Xtampza ER (TM), which are extended-release oxycodone capsules, to be used to treat pain that is so severe that it requires daily, 24-hour long-term opioid treatment. The treatment aims to deter abuse by patients, a problem that has emerged with other codeine-based painkillers. The FDA will take the recommendations into account as it continues its review of the drug. Collegium shares have fallen 30% in the last three months, while the S&P 500 has lost 6.5%.