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.
Overview
Pacira BioSciences Inc (NASDAQ: PCRX) is a specialty pharmaceutical company committed to revolutionizing pain management by offering innovative non-opioid therapies and regenerative health solutions. With a core focus on providing safe and effective alternatives for pain control, the company leverages its proprietary drug delivery platforms to address acute pain in surgical and chronic conditions. Its approach combines advanced pharmaceutical formulations with novel medical devices, ensuring that clinicians have access to effective treatment options that reduce reliance on opioids.
Core Technologies and Products
At the heart of Pacira's innovation is its unique product delivery technology, which encapsulates active compounds without altering their molecular structures. This platform enables controlled, extended release of medications, ensuring long-lasting efficacy. The company has successfully commercialized several non-opioid treatments:
- EXPAREL: A long-acting local anesthetic designed to provide postsurgical pain control through sustained drug release, thereby reducing the need for opioids.
- ZILRETTA: An extended-release intra-articular injection indicated for the management of osteoarthritis knee pain, offering patients prolonged relief.
- iovera®: A handheld, drug-free device that applies controlled doses of cold therapy to targeted nerves, providing immediate and lasting pain relief.
In addition to these commercial products, Pacira is advancing its pipeline with a novel gene therapy candidate, PCRX-201. This locally administered therapy aims to treat osteoarthritis by regulating inflammatory pathways, thus addressing the root causes of pain and disability.
Market Position and Business Model
Pacira BioSciences operates at the intersection of innovative drug delivery and non-opioid pain management solutions. Its business model emphasizes:
- Commercialization of Proven Therapies: The company has established a presence in markets requiring effective postsurgical and chronic pain management solutions, evidenced by the wide adoption of its therapies in diverse clinical settings.
- Advanced R&D and Pipeline Development: By investing in robust research and development programs, along with strategic partnerships, Pacira continues to expand its portfolio and maintain competitive differentiation in the specialty pharmaceutical sector.
- Regulatory and Reimbursement Strategies: With products that have secured critical reimbursement designations, Pacira enhances market access for its non-opioid therapies across different healthcare settings. This strategic emphasis supports clinician adoption and broader patient access.
Clinical and Commercial Significance
The company's focus on non-opioid pain management comes at a time when reducing opioid dependency is an urgent priority in healthcare. By developing treatments that not only manage pain effectively but also minimize opioid consumption, Pacira is addressing a key public health challenge. Its clinically validated products have been incorporated into pain management protocols in hospitals and outpatient settings alike, offering enduring benefits for patients and healthcare providers.
Innovative Edge and Future Pipeline
Pacira’s utilization of advanced drug delivery systems, such as multivesicular liposomes and precise cryoneurolysis, underscores its commitment to innovation. These technologies not only improve therapeutic outcomes but also facilitate streamlined billing and regulatory approval processes through established coding systems. With an evolving pipeline that includes gene therapy approaches, the company is poised to expand its reach into additional therapeutic areas, addressing unmet needs in the treatment of chronic and musculoskeletal pain.
Competitive Landscape and Differentiators
In a competitive market, Pacira differentiates itself through its deep expertise in non-opioid pain management and its commitment to technological advancements. The integration of robust clinical data, strategic reimbursement initiatives, and a focus on delivering sustained therapeutic benefits positions the company as a trusted innovator among healthcare practitioners. Unlike traditional pain management solutions that rely heavily on opioids, Pacira’s products are designed to provide effective relief with reduced risk of dependency, offering a clinically superior alternative in the evolving landscape of pain management.
Conclusion
With a comprehensive portfolio that spans commercial-stage products and a promising pipeline, Pacira BioSciences Inc stands as a key player in the specialty pharmaceutical industry. Its ongoing commitment to developing non-opioid pain therapies, underpinned by advanced drug delivery technologies and rigorous clinical validation, ensures that it remains an authoritative source of innovation and expertise in pain management and regenerative health.
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.
DOMA Perpetual Capital Management, holding about 4% of Pacira Biosciences (NYSE: PCRX) stock, sent a letter to the company's Board urging for an accelerated and increased stock repurchase program. The letter criticizes Pacira's capital allocation strategy and M&A track record, calling for a focus on enhancing shareholder returns. DOMA recommends:
1. Completing the current $150 million buyback before Q3 earnings
2. Approving a new $300 million buyback in Q4
3. Buying back $200 million of stock before year-end
4. Continuing buybacks into 2025
DOMA believes Pacira's $400 million cash balance (59% of market cap) is inefficient and sees the current stock price as an opportunity to create significant shareholder value. They project potential EPS of $5 in 2025 and $11 by 2027, with a stock price potentially reaching $75/share in the near term and $165/share by 2027.
Pacira BioSciences (Nasdaq: PCRX), a leader in non-opioid pain management and regenerative health solutions, has announced the granting of inducement awards to 17 new employees on September 4, 2024. These awards, approved by the Compensation Committee under Nasdaq Listing Rule 5635(c)(4), include:
- Stock options for 5,000 shares granted to 2 employees
- Restricted stock units for 30,000 shares granted to 17 employees
The stock options have a 10-year term and a four-year vesting schedule, with an exercise price of $15.14 per share. The restricted stock units vest annually in four equal installments starting September 1, 2025. All awards are subject to continued employment and individual award agreements.
Pacira BioSciences (Nasdaq: PCRX) has announced that the U.S. District Court for the District of New Jersey has ruled its U.S. Patent No. 11,033,495 for EXPAREL invalid. Despite this setback, CEO Frank D. Lee expressed confidence in the company's intellectual property and believes eVenus is infringing on their patents. Pacira is considering legal options, including an appeal to the U.S. Court of Appeals for the Federal Court. The company maintains that the EXPAREL franchise is well-protected, citing three ongoing infringement suits and additional pending patents. Pacira BioSciences remains committed to its position as a leader in non-opioid pain management and regenerative health solutions.
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