Pacira Biosciences Inc Stock Price, News & Analysis

Pacira BioSciences (PCRX) reported robust Q1 2021 results with total revenues of $119 million, up from $105.7 million in Q1 2020. GAAP net income reached $10.4 million or $0.24 per share, compared to $8.2 million or $0.19 last year. EXPAREL sales surged to $114.7 million, a notable increase from $101.3 million. The company experienced rising operational expenses at $99.6 million. Pacira continues to navigate COVID-19's impact on elective surgeries, with a strong outlook as recovery progresses.

Pacira BioSciences, Inc. (NASDAQ:PCRX) will release its first quarter financial results on May 4, 2021, before U.S. markets open. The company will host a live conference call at 8:30 a.m. ET to discuss these results. Interested parties can participate by dialing 1-877-845-0779 (domestic) or 1-720-545-0035 (international) with passcode 8238109. The call will be available for replay for one week. Pacira is known for its commitment to non-opioid pain management, notably through its long-acting analgesic EXPAREL® and the iovera°® cryoanalgesia device.

Pacira BioSciences, Inc. (Nasdaq: PCRX) has announced a $3 million investment in Spine BioPharma via a convertible note, aimed at advancing Spine's lead candidate, Remedisc™, a novel therapeutic for degenerative disc disease. An additional $7 million investment is contingent upon achieving specific milestones. This initiative aligns with Pacira's commitment to non-opioid pain management, targeting the underlying causes of degenerative disc disease to improve patient outcomes. Remedisc is expected to enter Phase 2/3 trials later this year.

Pacira BioSciences, Inc. (Nasdaq: PCRX) has filed a lawsuit against the American Society of Anesthesiologists (ASA) over misleading studies published in their journal regarding EXPAREL (bupivacaine liposome injectable suspension), which claim it is not effective for pain management. The lawsuit seeks damages and retraction of the articles, accusing the ASA of publishing scientifically unsound conclusions while failing to disclose financial conflicts of interest. Pacira aims to remove these misleading materials to prevent confusion among healthcare stakeholders.

Pacira BioSciences (Nasdaq: PCRX) reported preliminary unaudited net product sales for Q1 2021: $114.7 million for EXPAREL and $3.3 million for iovera°. March sales reached $44.3 million for EXPAREL, marking a significant year-on-year increase. The company highlights U.S. regulatory approval for EXPAREL in pediatrics and a trend towards outpatient care, despite ongoing COVID-19 impacts on elective surgeries. Pacira plans to provide monthly sales updates to maintain transparency.

Pacira BioSciences, Inc. (Nasdaq: PCRX) announced that the FDA has approved EXPAREL for use in children aged 6 and older, making it the first long-acting local analgesic for this age group. This approval expands EXPAREL's indication for single-dose infiltration for postsurgical pain management, addressing a critical need for non-opioid alternatives in pediatric care. The approval is based on positive data from the Phase 3 PLAY study, which involved 98 pediatric patients. The company aims to reduce opioid exposure among children undergoing surgery.

Pacira BioSciences, Inc. (Nasdaq: PCRX) reported preliminary unaudited net product sales of EXPAREL at $35.6 million for February 2021, with average daily sales at 103% compared to last year. Despite ongoing COVID-19 challenges, the company observed strong demand for non-opioid pain management solutions, especially in outpatient settings. The impact of the pandemic continues to affect elective surgeries, but Pacira remains focused on leveraging EXPAREL and iovera° to enhance market presence. The company plans to report monthly sales data to provide transparency.

PACIRA BIOSCIENCES, INC. (NASDAQ: PCRX) will present at the 2021 Barclays Global Healthcare Conference on March 9, 2021, at 10:55 AM ET. Interested parties can access the live audio from the company’s website's Events page, with a replay available for two weeks post-event. Pacira leads in non-opioid pain management solutions, notably with its long-acting local analgesic, EXPAREL®, launched in April 2012. The company aims to reduce opioid reliance, further emphasized by its acquisition of the iovera°® cryoanalgesia device in April 2019.

Pacira BioSciences (PCRX) reported record full-year 2020 revenue of $429.6 million, a 2% increase from 2019. The fourth quarter revenue reached $131.0 million, up 7% year-over-year. GAAP net income for the year was $145.5 million, or $3.41 per share. Despite challenges from the COVID-19 pandemic, EXPAREL sales drove strong growth, reaching $413.3 million. The European Commission approved EXPAREL for post-surgical pain, expanding market opportunities. Pacira remains committed to opioid alternatives amid the ongoing opioid crisis.