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 reports developments across a commercial portfolio of non-opioid pain management and regenerative health products. Its recurring updates center on EXPAREL® (bupivacaine liposome injectable suspension) for postsurgical pain, ZILRETTA® extended-release intra-articular corticosteroid injection for osteoarthritis, and the iovera° cold-therapy device for targeted nerve pain control.
Company news also covers earnings and product revenue trends, real-world evidence on opioid use and healthcare costs, pipeline development involving ZILRETTA, iovera° and PCRX-201, share repurchases, equity inducement awards, and stockholder governance matters tied to board composition and proxy materials.
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.
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.