Pacira Biosciences Inc - PCRX STOCK NEWS

Pacira BioSciences (Nasdaq: PCRX) announced significant financial maneuvers, including the repayment of $287.5 million in Term Loan B debt on March 31, 2023. This was accomplished through a new $150 million Term Loan A Facility and existing cash. The company expects to have around $180 million in cash and investments by the end of Q1 2023. With the lower interest rate of the new loan—400 basis points lower than the previous facility—Pacira anticipates a reduction of at least $15 million in interest expenses for 2023. This move is projected to improve the company's debt leverage ratio and reaffirm their growth outlook.

Pacira BioSciences, Inc. (PCRX) announced that the FDA has accepted its supplemental new drug application (sNDA) to expand the label of EXPAREL. This expansion seeks to include indications for single-dose sciatic and femoral nerve blocks, which could impact over 3 million lower extremity procedures annually. The sNDA is backed by two Phase 3 studies demonstrating significant reductions in postsurgical pain and opioid use compared to bupivacaine HCl. The FDA's expected action date is November 13, 2023. This approval may provide clinicians with an effective non-opioid option for pain management.

Tampa, Fla. – March 27, 2023 – Pacira BioSciences (Nasdaq: PCRX) announced that the U.S. Court of Appeals for the Third Circuit upheld the dismissal of the company’s lawsuit against the American Society of Anesthesiologists. The court determined that the contested findings in Anesthesiology articles were scientific opinions, allowing specialists to assess these as ‘tentative scientific conclusions’. CEO Dave Stack emphasized their commitment to non-opioid alternatives and highlighted that EXPAREL, their long-acting pain management solution, has been used in over 12 million patients. The company aims to enhance patient care through partnerships with medical professionals while expanding the use of EXPAREL.

Pacira BioSciences, Inc. (Nasdaq: PCRX) announced the retirement of independent director Yvonne Greenstreet, effective March 31, 2023, after nine years of service. Dr. Greenstreet, CEO of Alnylam Pharmaceuticals, expressed pride in her contributions to Pacira's growth and emphasized the company's commitment to non-opioid pain management. Pacira is now in the process of selecting a new independent Board member. The company focuses on redefining opioids as a rescue therapy and has three commercial-stage non-opioid treatments: EXPAREL, ZILRETTA, and iovera, aimed at addressing unmet medical needs.

TAMPA, Fla., March 08, 2023 (GLOBE NEWSWIRE) -- Pacira BioSciences (NASDAQ: PCRX) announced its participation in an analyst-led fireside chat at the Barclays Global Healthcare Conference on March 15, 2023, at 9:00 AM ET in Miami. The event will be accessible via the company’s website with a two-week replay available post-event.

Pacira focuses on non-opioid therapies, offering three commercial products: EXPAREL for postsurgical pain, ZILRETTA for osteoarthritis knee pain, and ioveraº for drug-free pain control. The company aims to reduce opioid reliance in pain management.

Pacira BioSciences (Nasdaq: PCRX) reported record revenues of $667 million in 2022, a 23% increase from 2021. The company achieved a full-year GAAP net income of $16 million and an adjusted EBITDA of $213 million. However, a fourth quarter GAAP net loss of $10.1 million was reported alongside a 15% decrease in adjusted EBITDA compared to Q4 2021. EXPAREL surpassed 12 million patients, and the company opened a new training center in Houston. For 2023, Pacira forecasts EXPAREL sales of $570 million to $580 million and a non-GAAP gross margin of 76% to 78%.

Pacira BioSciences (Nasdaq: PCRX) has announced a multi-year partnership with the Ladies Professional Golf Association (LPGA), making Pacira’s iovera° the Official Non-Opioid Pain Management Partner. This handheld device utilizes cold therapy to manage pain without medication. Additionally, Pacira will sponsor the LPGA’s fitness trailer and promote non-opioid options during tournaments, with initiatives aimed at educating players about pain management and addressing the opioid crisis. Events in September will feature Pacira distributing purple ribbons for Opioid Awareness Month. The partnership enhances brand visibility and aligns with Pacira’s mission to promote non-opioid solutions.

Pacira BioSciences, Inc. (NASDAQ:PCRX) announced that it will report its fourth quarter and full year 2022 financial results on February 28, 2023, before U.S. markets open. Following this, a live conference call will be held at 8:30 a.m. ET, with an opportunity for pre-registered participants to engage in a Q&A session. Interested parties can access the live audio via the Pacira website, and a replay will be available for two weeks post-call. Pacira is focused on non-opioid pain management solutions, including EXPAREL, ZILRETTA, and iovera, aimed at reducing opioid dependency in patient care.

Pacira BioSciences (PCRX) announced preliminary total revenue of $666.8 million for 2022, a 23.1% increase from $541.5 million in 2021. The 2022 revenue includes product sales from EXPAREL, ZILRETTA, and iovera. Notably, EXPAREL had strong sales with average daily sales at 104% and 107% of the prior year for Q4 and December, respectively. The company ended the year with a solid balance sheet and plans to prepay $50 million of debt, anticipating adjusted EPS of at least $2.50 for 2022.