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 leader in non-opioid pain management, offering innovative therapies that reduce reliance on traditional opioids. This page provides investors and healthcare professionals with timely updates on the company’s latest developments, including regulatory milestones, clinical advancements, and strategic initiatives.
Access PCRX’s official press releases, earnings reports, and analysis of key events shaping its position in the specialty pharmaceutical sector. Track updates on flagship products like EXPAREL® (long-acting local anesthetic) and iovera® (targeted cold therapy), along with emerging pipeline candidates such as PCRX-201 for osteoarthritis.
Discover how Pacira’s proprietary drug delivery platforms and commitment to evidence-based solutions address critical needs in postsurgical recovery and chronic pain management. Stay informed about partnerships, regulatory approvals, and market expansion efforts driving the company’s growth.
Bookmark this page for direct access to PCRX’s verified news, ensuring you never miss developments impacting its role in transforming pain treatment. Visit regularly to monitor progress in non-opioid innovation and regenerative health solutions.
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.
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.
