Taking on OxyContin: Collegium Pharmaceutical files for a $86 million IPO

Collegium Pharmaceutical, which is developing an abuse-deterrent oral formulation of oxycodone for pain, filed on Thursday with the SEC to raise up to $86 million in an initial public offering.

Collegium's initial filing follows that of recent filer KemPharm (KMPH), which is developing an abuse-deterrent formulation of hydrocodone, an active ingredient in blockbuster drugs Norco and Vicodin.

The Canton, MA-based company, which was founded in 2002, plans to list on the NASDAQ under the symbol COLL. Collegium Pharmaceutical initially filed confidentially on March 3, 2015. Jefferies, Piper Jaffray, Wells Fargo Securities and Needham are the joint bookrunners on the deal. No pricing terms were disclosed.