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 (PCRX) reported Q2 2024 financial results with total revenues of $178.0 million. Key highlights include:
- EXPAREL net product sales of $136.9 million
- ZILRETTA net product sales of $30.7 million
- iovera° net product sales of $5.7 million
- Net income of $18.9 million, or $0.41 per share (basic) and $0.39 per share (diluted)
- Adjusted EBITDA of $62.1 million
The company reiterated its full-year 2024 guidance, projecting total revenue of $680-705 million. Pacira also announced a $150 million share repurchase program and issued $287.5 million in convertible senior notes.
Pacira BioSciences, Inc. (NASDAQ:PCRX) has announced that it will release its second quarter 2024 financial results after U.S. markets close on Tuesday, July 30, 2024. The company will host a live conference call and webcast at 4:30 p.m. ET following the release. Interested participants can pre-register for the Q&A session via telephone, and all registrants will receive dial-in information and a PIN for call access. Additionally, a live audio webcast will be available through the 'Events' page on Pacira's investor website. For those unable to join the live call, a replay of the webcast will be accessible on the company's website for approximately two weeks after the event.
The Centers for Medicare and Medicaid Services (CMS) have proposed a new reimbursement rule for 2025, extending separate Medicare payments to non-opioid pain management drugs, including Pacira BioSciences' EXPAREL, in both ambulatory surgical centers (ASC) and hospital outpatient settings (HOPD). This proposal is part of the NOPAIN Act, included in the Consolidated Appropriations Act of 2023. If finalized, the rule will take effect on January 1, 2025. The reimbursement rates for non-opioid drugs will be set at average sales price (ASP) plus 6%. The proposed rate for EXPAREL is $1.41 per billing unit. EXPAREL is approved for local and regional analgesia for various surgical procedures and has been used in over 14 million patients in the U.S.
Pacira BioSciences (PCRX) will participate in a fireside chat at the 2024 Jefferies Global Healthcare Conference on June 6, 2024, at 11:00 AM ET in New York.
The chat will be led by an analyst, and a live audio stream will be available on the company's website under the 'Events' section. A replay of the webcast will also be accessible for two weeks after the event.
Pacira BioSciences, Inc. announced the pricing of $250 million in convertible senior notes due 2029, with an option for additional notes. The net proceeds are estimated to be around $242 million, to be used for various purposes. The notes will bear interest at 2.125% per year and can be converted under certain conditions. Pacira also entered into capped call transactions to reduce potential dilution. The offering is made to qualified institutional buyers under Rule 144A.
Pacira BioSciences, Inc. announced a proposed offering of $250.0 million aggregate principal amount of convertible senior notes due 2029. The company intends to use the net proceeds for various purposes, including repurchasing existing notes, funding capped call transactions, and repurchasing shares of common stock. The offering is aimed at qualified institutional buyers and will involve privately negotiated capped call transactions to reduce potential dilution to common stock. Overall, the offering is part of Pacira's strategic financial planning to support its corporate goals.
Pacira BioSciences, Inc. (Nasdaq: PCRX) reported strong financial results for Q1 2024, with total revenues of $167.1 million. Net product sales included $132.4 million for EXPAREL, $25.8 million for ZILRETTA, and $5.0 million for iovera°. The company also announced a $150 million share repurchase program, presented positive efficacy and safety data for PCRX-201, granted RMAT designation to PCRX-201, and secured three new EXPAREL patents. Financially, GAAP net income was $9.0 million, non-GAAP net income was $31.1 million, and adjusted EBITDA was $44.6 million. Pacira reaffirmed its 2024 financial guidance with a strong outlook for the year.
Pacira BioSciences, Inc. (NASDAQ: PCRX) will participate in a fireside chat at the 2024 RBC Capital Markets Global Healthcare Conference on May 14, 2024. The event will be held in New York, with live audio accessible on the company's website. A replay will be available for two weeks.
Pacira BioSciences, Inc. (NASDAQ:PCRX) will release its first quarter financial results on May 7, 2024, followed by a live conference call and webcast. Participants can dial 1-800-715-9871 (passcode 6363041) or 1-646-307-1963 for international callers. The webcast will be available on the Pacira website.
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