Pacira Biosciences Inc Stock Price, News & Analysis

Pacira BioSciences (Nasdaq: PCRX) reported Q2 2020 revenues of $75.5 million, down 26% from $102.6 million in Q2 2019, largely due to the impacts of COVID-19. EXPAREL net sales were $73.0 million, also down by 26%. The company’s GAAP net loss reached $7.3 million ($0.17 per share), contrasting with a net income of $2.7 million in the same period last year. Total operating expenses decreased to $82.7 million. Pacira has seen a recovery in EXPAREL sales since April and aims to expand its non-opioid pain management solutions. The FDA accepted an sNDA for EXPAREL for pediatric use, with an expected decision by March 2021.

Pacira BioSciences, Inc. (NASDAQ: PCRX) will present at the 2020 Wedbush PacGrow Healthcare Virtual Conference on August 11, 2020, at 9:10 AM ET. Interested parties can access the live audio via the company’s website. A webcast replay will be available for two weeks post-event. Pacira specializes in non-opioid pain management solutions, including EXPAREL® and the iovera⁰ system.

Pacira BioSciences announced the publication of its Phase 4 study results for EXPAREL in Anesthesia and Analgesia. The study showed a 52% reduction in total opioid consumption at 72 hours post-C-section when combined with bupivacaine, and a statistically significant increase in opioid-spared patients (54% vs 25%). The study spanned 13 sites and involved 136 patients. Safety was comparable between groups, with 64% of the EXPAREL group experiencing treatment-emergent adverse events. This data could enhance postoperative pain management strategies, especially given that C-sections pose significant opioid use concerns.

Pacira BioSciences announced that the FDA has accepted its supplemental new drug application (sNDA) for EXPAREL, aiming to expand its label to include postsurgical analgesia for children aged six and over. Based on positive Phase 3 study results showing favorable pharmacokinetics and safety profiles, the FDA's action date is set for March 22, 2021. If approved, EXPAREL will become the first long-acting local anesthetic sanctioned for pediatric use, addressing the urgent need for non-opioid pain management alternatives in children, who typically rely on opioids for post-surgery pain relief.

Pacira BioSciences, Inc. (NASDAQ: PCRX) will report its second quarter financial results on August 6, 2020, before market opening. Following the announcement, a live conference call will take place at 8:30 a.m. ET. Participants can join via a dedicated dial-in number or through a webcast available on the company’s investor page. A replay of the call will be accessible for one week post-event. Pacira specializes in non-opioid pain management and regenerative health solutions, prominently featuring its long-acting analgesic, EXPAREL®, launched in April 2012.

Pacira BioSciences, Inc. (Nasdaq: PCRX) has resolved all investigations by the U.S. Department of Justice and other agencies regarding its marketing of EXPAREL®. The settlement amounts to approximately $3.5 million, though Pacira denies any wrongdoing. This conclusion follows a five-year investigation into the company's sales practices. Pacira's chief administrative officer expressed satisfaction in closing this chapter while reaffirming their commitment to legal compliance and non-opioid pain management solutions.

Pacira BioSciences, Inc. (Nasdaq: PCRX) announced the pricing of $350 million in convertible senior notes due 2025, increased from an initial offering of $300 million. The net proceeds are estimated at $339 million, with $211.1 million designated to repurchase outstanding 2.375% notes due 2022. The notes bear a 0.750% interest rate and are convertible under specific conditions starting February 2025, with an initial conversion price of $71.78 per share, a 32.5% premium over the recent closing price. The offering settlement is expected on July 10, 2020.

Pacira BioSciences, Inc. (Nasdaq: PCRX) announced its intention to offer $300 million in convertible senior notes due 2025, subject to market conditions. The company may additionally sell $45 million in notes. Proceeds will be used to repurchase a portion of its 2.375% Convertible Senior Notes due 2022 and for general corporate purposes, including R&D and the acquisition of new technologies. The offering will adhere to Rule 144A under the Securities Act. The offering is not registered, and the company warns of potential market risks associated with the execution of this offering.

Pacira BioSciences (Nasdaq: PCRX) reported a preliminary net revenue of $75.5 million for Q2 2020, down from $102.6 million in Q2 2019. Sales were affected by COVID-19, leading to postponed elective surgeries. Average daily sales of EXPAREL were 30%, 81%, and 107% of the prior year for April, May, and June, respectively. Net product sales for EXPAREL were $73.8 million, a decrease from $99.8 million in the same quarter last year. The company plans to report complete financial results in August 2020.