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 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.
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.
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