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Why Collegium Pharmaceutical Stock Is Crushing It Today

TheMotleyFool

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Why Collegium Pharmaceutical Stock Is Crushing It TodayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Shares of Collegium Pharmaceutical (NASDAQ: COLL) were soaring 33.7% higher as of 11:12 a.m. EST on Thursday. This big jump came following the small drugmaker's third-quarter update after the market closed on Wednesday.

Collegium missed Wall Street estimates on both its top and bottom lines. However, the company announced exclusive formulary deals for its abuse-deterrent Xtampza ER opioid painkiller that will cover more than 35 million lives beginning in January 2020.

Image source: Getty Images.

Source Fool.com

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