Welcome to our dedicated page for Pacira Biosciences news (Ticker: PCRX), a resource for investors and traders seeking the latest updates and insights on Pacira Biosciences stock.
Pacira BioSciences, Inc. (Nasdaq: PCRX) is a pioneering company dedicated to advancing non-opioid pain management and regenerative health solutions. Headquartered in Tampa, Florida, Pacira is committed to providing innovative treatments that minimize the reliance on opioids for pain relief, thereby redefining the role of opioids as a rescue therapy only.
Pacira has three primary commercialized products: EXPAREL® (bupivacaine liposome injectable suspension), ZILRETTA® (triamcinolone acetonide extended-release injectable suspension), and ioveraº®. EXPAREL, launched in 2012, is a long-acting local analgesic used for postsurgical pain management, offering significant reductions in opioid consumption and cumulative pain scores. ZILRETTA, approved in 2017, is an extended-release intra-articular injection aimed at managing osteoarthritis knee pain, providing extended pain relief without repeated administration. ioveraº is a novel handheld device that delivers precise, controlled doses of cold temperature to targeted nerves, offering immediate, drug-free pain relief.
The company’s advanced DepoFoam® delivery platform encapsulates drugs in a multivesicular liposome, releasing them over extended periods without altering their molecular structure. This technology underpins the efficacy of Pacira’s flagship product, EXPAREL, which has been pivotal in reducing opioid use and enhancing postoperative recovery.
Pacira continues to innovate with ongoing clinical developments and strategic initiatives. Recently, the company reported preliminary unaudited total revenue of $675.0 million for the fiscal year 2023. In 2024, Pacira plans to launch EXPAREL for two key lower extremity nerve blocks and anticipates the rollout of the NOPAIN Act in 2025, which will expand patient access to opioid-sparing pain management solutions.
Pacira’s commitment to developing non-opioid treatments is further demonstrated by its recent achievements in securing FDA and European Medicines Agency designations for PCRX-201, a gene therapy product candidate for osteoarthritis. The company’s focus on long-term growth and operational excellence remains steadfast under the leadership of CEO Frank D. Lee.
For more information on Pacira BioSciences and its product offerings, visit www.pacira.com.
Pacira BioSciences, Inc. (Nasdaq: PCRX) has resolved all investigations by the U.S. Department of Justice and other agencies regarding its marketing of EXPAREL®. The settlement amounts to approximately $3.5 million, though Pacira denies any wrongdoing. This conclusion follows a five-year investigation into the company's sales practices. Pacira's chief administrative officer expressed satisfaction in closing this chapter while reaffirming their commitment to legal compliance and non-opioid pain management solutions.
Pacira BioSciences, Inc. (Nasdaq: PCRX) announced the pricing of $350 million in convertible senior notes due 2025, increased from an initial offering of $300 million. The net proceeds are estimated at $339 million, with $211.1 million designated to repurchase outstanding 2.375% notes due 2022. The notes bear a 0.750% interest rate and are convertible under specific conditions starting February 2025, with an initial conversion price of $71.78 per share, a 32.5% premium over the recent closing price. The offering settlement is expected on July 10, 2020.
Pacira BioSciences, Inc. (Nasdaq: PCRX) announced its intention to offer $300 million in convertible senior notes due 2025, subject to market conditions. The company may additionally sell $45 million in notes. Proceeds will be used to repurchase a portion of its 2.375% Convertible Senior Notes due 2022 and for general corporate purposes, including R&D and the acquisition of new technologies. The offering will adhere to Rule 144A under the Securities Act. The offering is not registered, and the company warns of potential market risks associated with the execution of this offering.
Pacira BioSciences (Nasdaq: PCRX) reported a preliminary net revenue of $75.5 million for Q2 2020, down from $102.6 million in Q2 2019. Sales were affected by COVID-19, leading to postponed elective surgeries. Average daily sales of EXPAREL were 30%, 81%, and 107% of the prior year for April, May, and June, respectively. Net product sales for EXPAREL were $73.8 million, a decrease from $99.8 million in the same quarter last year. The company plans to report complete financial results in August 2020.
Pacira BioSciences, Inc. (Nasdaq: PCRX) announced the termination of its agreement with DePuy Synthes for co-promotion of EXPAREL, effective January 2, 2021. This collaboration, which started in January 2017, enhanced EXPAREL's usage in orthopedic surgical settings. Pacira expressed gratitude for the partnership, emphasizing the significance of EXPAREL in opioid-sparing protocols. Following the termination, Pacira plans to manage EXPAREL independently and anticipates improved economics. The company is also building a training center in Tampa for better customer education and support.
Pacira BioSciences, Inc. (NASDAQ: PCRX) will present at the 2020 BMO Prescriptions for Success Healthcare Conference on June 23, 2020, at 10:00 AM ET. Interested investors can access the live audio through the company’s website, with a replay available for two weeks post-event. Pacira specializes in non-opioid pain management and regenerative health solutions, with its flagship product, EXPAREL®, a long-acting analgesic launched in April 2012. The company aims to reduce opioid reliance and recently acquired the iovera⁰ system for targeted nerve pain management.
PARSIPPANY, N.J., May 27, 2020 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (NASDAQ: PCRX) will present at the 2020 Jefferies Virtual Healthcare Conference on June 3, 2020, at 9:30 AM ET. Interested parties can access the live audio via the company's Events page. A replay will be available for two weeks post-event.
Pacira is known for its non-opioid pain management solutions, including EXPAREL®, a long-acting local analgesic launched in April 2012, and the iovera⁰ system, acquired in April 2019.
PACIRA BIOSCIENCES, INC. (NASDAQ: PCRX) will present at the 2020 RBC Capital Markets Global Healthcare Virtual Conference on May 20, 2020, at 9:45 AM ET. Interested parties can access a live audio stream on the company's website, with a replay available for two weeks post-event. Pacira is dedicated to non-opioid pain management technologies, including its long-acting local analgesic EXPAREL®, which launched in 2012. The company also acquired the iovera⁰ cryoanalgesia device in April 2019, aiming to enhance pain management and reduce opioid reliance.
Pacira BioSciences (PCRX) reported a 16% revenue increase for Q1 2020, totaling $105.7 million, driven by a 12% rise in EXPAREL sales to $101.3 million. GAAP net income stood at $8.2 million ($0.19/share), a recovery from a net loss of $2.8 million in Q1 2019. Despite early growth, the company has withdrawn full-year guidance due to COVID-19 uncertainties, although it anticipates some mitigation from expense reductions. Cash reserves are strong at $353.6 million, positioning the company for future recovery as elective surgeries resume.
FAQ
What is the current stock price of Pacira Biosciences (PCRX)?
What is the market cap of Pacira Biosciences (PCRX)?
What is Pacira BioSciences, Inc. known for?
What are Pacira BioSciences' main products?
What is EXPAREL used for?
What recent financial milestone did Pacira achieve?
What is ZILRETTA?
How does ioveraº work?
What is the DepoFoam® delivery platform?
What are Pacira’s plans for 2024?
What is PCRX-201?
Where can I learn more about Pacira BioSciences?
