Pacira Biosciences Inc Stock Price, News & Analysis

Pacira BioSciences (Nasdaq: PCRX) reported record revenues of $667 million in 2022, a 23% increase from 2021. The company achieved a full-year GAAP net income of $16 million and an adjusted EBITDA of $213 million. However, a fourth quarter GAAP net loss of $10.1 million was reported alongside a 15% decrease in adjusted EBITDA compared to Q4 2021. EXPAREL surpassed 12 million patients, and the company opened a new training center in Houston. For 2023, Pacira forecasts EXPAREL sales of $570 million to $580 million and a non-GAAP gross margin of 76% to 78%.

Pacira BioSciences (Nasdaq: PCRX) has announced a multi-year partnership with the Ladies Professional Golf Association (LPGA), making Pacira’s iovera° the Official Non-Opioid Pain Management Partner. This handheld device utilizes cold therapy to manage pain without medication. Additionally, Pacira will sponsor the LPGA’s fitness trailer and promote non-opioid options during tournaments, with initiatives aimed at educating players about pain management and addressing the opioid crisis. Events in September will feature Pacira distributing purple ribbons for Opioid Awareness Month. The partnership enhances brand visibility and aligns with Pacira’s mission to promote non-opioid solutions.

Pacira BioSciences, Inc. (NASDAQ:PCRX) announced that it will report its fourth quarter and full year 2022 financial results on February 28, 2023, before U.S. markets open. Following this, a live conference call will be held at 8:30 a.m. ET, with an opportunity for pre-registered participants to engage in a Q&A session. Interested parties can access the live audio via the Pacira website, and a replay will be available for two weeks post-call. Pacira is focused on non-opioid pain management solutions, including EXPAREL, ZILRETTA, and iovera, aimed at reducing opioid dependency in patient care.

Pacira BioSciences (PCRX) announced preliminary total revenue of $666.8 million for 2022, a 23.1% increase from $541.5 million in 2021. The 2022 revenue includes product sales from EXPAREL, ZILRETTA, and iovera. Notably, EXPAREL had strong sales with average daily sales at 104% and 107% of the prior year for Q4 and December, respectively. The company ended the year with a solid balance sheet and plans to prepay $50 million of debt, anticipating adjusted EPS of at least $2.50 for 2022.

Pacira BioSciences, Inc. (NASDAQ: PCRX) has announced its participation in the 41st Annual J.P. Morgan Healthcare Conference, scheduled for January 9, 2023, at 3:00 PM PT (6:00 PM EST). Interested parties can access a live audio stream of the event on the company’s investor website, with a replay available for two weeks post-event. Pacira aims to provide non-opioid alternatives for pain management, emphasizing its commitment to reducing opioid dependency. The company has three commercial products: EXPAREL, ZILRETTA, and iovera.

Pacira BioSciences reported preliminary net product sales of $57.5 million for November 2022, a slight decrease from the previous year. EXPAREL sales were $46.0 million, nearly flat compared to $46.5 million in November 2021, with unit volumes increasing by 4%. The company has initiated programs to improve access to EXPAREL, including 340B pricing, which targets 5,200 new accounts. ZILRETTA and iovera° generated $10.0 million and $1.5 million in sales, respectively. The ongoing impacts of COVID-19 are still affecting the elective surgery market, leading to no guidance for 2022 revenue.

On November 17, 2022, a national survey revealed that nearly one in four U.S. adults suffer from chronic knee pain, significantly impacting their daily lives. Conducted by Wakefield Research for Pacira, the survey found that 97% of participants reported negative effects on their daily activities, with many unable to climb stairs or exercise. Notably, 91% missed social events due to pain, and 45% used opioids for management. Concerns about total knee replacement surgery were high, with 88% of patients worried about associated pain and recovery. Innovative non-opioid treatments like iovera° offer promising alternatives.

Pacira BioSciences (Nasdaq: PCRX) reported preliminary net product sales of $54.9 million for October 2022, driven by continued growth in EXPAREL, ZILRETTA, and iovera° sales. EXPAREL net sales reached $45.0 million, up from $42.5 million in October 2021, with average daily sales increasing by 106%. Despite recent challenges from COVID-19 affecting elective surgeries, the company maintains confidence for double-digit growth and plans for new market expansions. No 2022 revenue guidance was provided due to ongoing uncertainties.

Pacira BioSciences, Inc. (NASDAQ: PCRX) announced participation in upcoming healthcare conferences. The company will engage in an analyst-led fireside chat at the Jefferies London Healthcare Conference on November 15 at 8:00 AM GMT and the 34th Annual Piper Sandler Healthcare Conference on November 29 at 2:30 PM ET. Live audio can be accessed on their website, with replays available for two weeks post-event. Pacira is dedicated to offering non-opioid pain management options and has three commercial products for pain relief.