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 (Nasdaq: PCRX) has been awarded U.S. Patent No. 12,156,940 for EXPAREL's chemical composition, providing protection until July 2044. This patent is the first in a new family related to EXPAREL produced by their enhanced manufacturing process in San Diego, approved by FDA in February 2024. The company plans to list the patent in the FDA Orange Book and file a patent infringement lawsuit against Jiangsu Hengrui Pharmaceuticals and Fresenius Kabi USA. Additionally, two new patents (No. 12,151,024 and 12,144,890) were issued, extending protection until January 2041.
Pacira BioSciences (NASDAQ: PCRX) announced promising 104-week safety and efficacy data for its gene therapy candidate PCRX-201 in treating knee osteoarthritis. The Phase 1 trial involving 72 patients demonstrated sustained improvements in knee pain, stiffness, and function. The pretreated cohort showed 48-65% pain improvement and 53-72% stiffness reduction from baseline. Over 70% of participants achieved >50% pain reduction by week 16. The therapy showed a well-tolerated safety profile with no serious treatment-related adverse events. PCRX-201, which received FDA's RMAT designation in March 2024, is designed to produce IL-1Ra protein to reduce inflammation. A Phase 2 study is planned for 2025.
Pacira BioSciences (NASDAQ: PCRX) announced its participation in two upcoming healthcare conferences. The company will engage in an analyst-led fireside chat at the Jefferies London Healthcare Conference on November 19th at 3:00 PM GMT (10:00 AM ET).
Additionally, Pacira BioSciences will be present at the 36th Annual Piper Sandler Healthcare Conference on December 3rd at 1:00 PM ET. Interested parties can access live audio of these events on the “Events” page of the company’s website at investor.pacira.com. Replays will be available for two weeks following the events.
Pacira BioSciences (PCRX) reported Q3 2024 financial results with total revenues of $168.6 million. Net product sales were $132.0 million for EXPAREL, $28.4 million for ZILRETTA, and $5.7 million for iovera°. The company reported a net loss of $143.5 million, or $3.11 per share, including a $163.2 million goodwill impairment charge. Adjusted EBITDA was $54.7 million. The company maintained its 2024 guidance of total revenue between $680-705 million. CMS confirmed EXPAREL and iovera° qualify for separate Medicare payment under the NOPAIN Act starting January 2025.
Pacira BioSciences (NSDQ: PCRX) announced that CMS has confirmed both EXPAREL and iovera° as qualifying non-opioid pain management products under the NOPAIN Act. Starting January 1, 2025, hospitals and ambulatory surgical centers will receive additional Medicare reimbursement for these products. EXPAREL will be reimbursed at 106% of average sales price using J-code J0666, while iovera° will receive up to $255.85 additional payment using C-code C9809. This implementation is part of the final Medicare Hospital OPPS and ASC Payment System rule for 2025, aimed at providing better access to non-opioid pain management options.
Pacira BioSciences (NASDAQ:PCRX) has announced it will release its third quarter 2024 financial results after U.S. markets close on Wednesday, November 6, 2024. The company will host a conference call and webcast at 4:30 p.m. ET following the release. Participants interested in the Q&A session must pre-register to receive dial-in information. The event will be accessible through the 'Events' page on Pacira's investor website, with a replay available for approximately two weeks after the call.
Pacira BioSciences, Inc. (Nasdaq: PCRX), a leader in non-opioid pain therapies, has appointed Shawn Cross as Chief Financial Officer. Mr. Cross brings over 25 years of experience in biotechnology and investment banking. He previously served at Applied Molecular Transport, Inc. (AMT) in various roles, including CEO, and led the company through its IPO and merger with Cyclo Therapeutics, Inc.
Mr. Cross will oversee all aspects of Pacira's financial operations. CEO Frank D. Lee expressed confidence in Cross's leadership as the company invests in long-term growth. As part of his appointment, Mr. Cross received inducement awards, including a non-qualified stock option for 200,000 shares and a restricted stock unit award for 75,000 shares, subject to vesting conditions.
Pacira BioSciences, Inc. (Nasdaq: PCRX), a leader in non-opioid pain therapies, has announced the granting of inducement awards to 55 new employees on October 2, 2024. These awards, approved by the Compensation Committee, include:
- Stock options for 68,900 shares of Pacira common stock to 10 employees
- Restricted stock units for 127,700 shares to 54 employees
The stock options have a 10-year term and a four-year vesting schedule, with an exercise price of $15.53 per share. The restricted stock units vest annually in four equal installments starting October 1, 2025. Both awards are subject to continued employment and individual award agreements.
Pacira BioSciences (NASDAQ: PCRX) announced that the Centers for Medicare and Medicaid Services (CMS) has established a new product-specific J-code (J0666) for EXPAREL, effective January 1, 2025. This J-code will replace the current C-code (C9290) and is expected to standardize and streamline billing and reimbursement for the non-opioid pain therapy.
The new J-code will provide reimbursement for EXPAREL in office settings and office-based surgeries, in addition to the separate CMS reimbursement in outpatient settings under the NOPAIN implementation. This development is significant as J-codes are widely recognized by commercial insurance plans, Medicare, and other government payers, potentially increasing clinician access to EXPAREL across various care settings and payer types.
Pacira BioSciences (NASDAQ: PCRX) announced the upcoming presentation of new 104-week safety and efficacy data for PCRX-201, its gene therapy candidate for moderate to severe osteoarthritis of the knee. The presentation will take place at the ACR Convergence annual meeting in Washington, D.C. on November 17.
PCRX-201 is a locally administered gene therapy designed to produce interleukin-1 receptor antagonist (IL-1Ra), which reduces IL-1 signaling, a factor in osteoarthritis progression. It uses an inducible promoter to express IL-1Ra when inflammation is present in the joint. In March 2024, PCRX-201 received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA, becoming the first gene therapy for osteoarthritis to do so. This designation provides benefits for expedited development and review. The therapy also received Advanced Therapy Medicinal Products (ATMP) designation from the European Medicines Agency in May 2023.
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