COLLEGIUM PHARMACEUTICAL, INC

Forward-Looking Statements

Statements made in this quarterly report on Form 10-Q (“Quarterly Report”) that are not statements of historical or current facts, such as those under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “may,” “could,” “would,” “should,” “can,” “can have,” “likely,” the negatives thereof and other words and terms of similar meaning.

Forward-looking statements are inherently subject to risks, uncertainties and assumptions; they are not guarantees of performance. You should not place undue reliance on these statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, we cannot assure you that the assumptions and expectations will prove to be correct.

You should understand that the following important factors could affect our future results and could cause those results or other outcomes to differ materially from those expressed or implied in our forward-looking statements:

•our ability to commercialize and grow sales of our products;

•our ability to maintain regulatory approval of our products, and any related restrictions, limitations, and/or warnings in the label of an approved product;

•the size of the markets for our products, and our ability to service those markets;

•the success of competing products that are or become available;

•our ability to obtain and maintain reimbursement and third-party payor contracts with favorable terms for our products;

•the costs of commercialization activities, including marketing, sales and distribution;

•the rate and degree of market acceptance of our products;

•changing market conditions for our products;

•the outcome of any patent infringement, opioid-related or other litigation that may be brought by or against us;

•the outcome of any governmental investigation related to the manufacture, marketing and sale of opioid medications;

•the performance of our third-party suppliers and manufacturers;

•our ability to secure adequate supplies of active pharmaceutical ingredients for each of our products, manufacture adequate quantities of commercially salable inventory and maintain our supply chain;

•our ability to effectively manage our relationships with licensors and to commercialize products that we in-license from third parties;

•our ability to attract collaborators with development, regulatory and commercialization expertise;

•our ability to obtain funding for our business development;

•our ability to realize all the anticipated benefits from our future acquisitions;

•our ability to comply with the terms of our outstanding indebtedness;

•regulatory and legislative developments in the United States, including the adoption of opioid stewardship and similar taxes that may impact our business;

•our ability to obtain and maintain sufficient intellectual property protection for our products;

•our ability to comply with stringent government regulations relating to the manufacturing and marketing of pharmaceutical products, including U.S. Drug Enforcement Administration (“DEA”) compliance;

•our customer concentration, which may adversely affect our financial condition and results of operations;

•the accuracy of our estimates regarding expenses, revenue, capital requirements and need for additional financing; and

•the other risks, uncertainties and factors discussed under the heading “Risk Factors” in this Quarterly Report on Form 10-Q.

In light of these risks and uncertainties, expected results or other anticipated events or circumstances discussed in this Quarterly Report on Form 10-Q (including the exhibits hereto) might not occur. We undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, even if experience or future developments make it clear that projected results expressed or implied in such statements will not be realized, except as may be required by law.

These and other risks are described under the heading “Risk Factors” in this Quarterly Report on Form 10-Q. Those factors and the other risk factors described therein are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could harm our results. Consequently, there can be no assurance that actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, us. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements.