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, Inc. (Nasdaq: PCRX) has successfully completed process validation for its EXPAREL product, marking a key milestone in increasing its manufacturing capacity. The new 200-liter production suite in Swindon, England, developed in partnership with Thermo Fisher Scientific, is operational, with sales expected to begin by year-end 2021. This expansion aims to achieve gross margins exceeding 85 percent by 2024. Additionally, a new Orange Book-listed patent extends EXPAREL's market exclusivity to January 2041.
ImmuneID, Inc. has appointed James S. Scibetta as the new CEO, succeeding David Donabedian, who will move to an advisory role. Scibetta, with over 20 years of biotech experience, previously led Maverick Therapeutics, acquired by Takeda in April 2021, and held executive roles at Pacira Pharmaceuticals and Bioenvision. Under Donabedian's leadership, ImmuneID raised over $70 million since its launch in Q4 2020. The company focuses on precision immunology, leveraging a proprietary platform for targeting immune diseases.
Pacira BioSciences, Inc. (Nasdaq: PCRX) announced the publication of full results from its Phase 3 PLAY study of EXPAREL in the Journal of Clinical Anesthesia. The study involved 98 pediatric patients undergoing spinal or cardiac surgeries and demonstrated a favorable safety and pharmacokinetic profile, comparable to traditional bupivacaine. Key findings include no serious adverse events and well-tolerated dosing in all age groups. The results support the FDA approval of EXPAREL for pediatric patients aged 6 and older, reinforcing its role as a non-opioid pain management solution.
Pacira BioSciences (Nasdaq: PCRX) reported a 15% increase in EXPAREL net product sales, totaling $41.4 million for August 2021, up from $36.1 million in the previous year. The utilization of EXPAREL, which has treated over nine million patients, is growing despite challenges in the elective surgery market due to the pandemic. The company maintains a positive outlook, expecting annual growth in the high teens and operating margins exceeding 50%. They continue to provide monthly sales updates amid ongoing uncertainties related to COVID-19.
Pacira BioSciences, Inc. (NASDAQ: PCRX) is set to participate in the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, 2021, at 7:00 AM ET. The presentation will be virtual, and investors can access the pre-recorded audio via the company's website. Pacira is recognized for its leadership in non-opioid pain management, particularly through its long-acting local analgesic, EXPAREL®, which launched in April 2012. The company also acquired the iovera°® system in 2019 to enhance its offerings in regenerative health solutions.
Pacira BioSciences reported preliminary net product sales for July 2021, achieving $40.9 million for EXPAREL and $1.0 million for iovera°. Additionally, EXPAREL's average daily sales were 117% of July 2020 levels. This growth is attributed to increasing adoption as a non-opioid analgesic during outpatient surgeries. The company acknowledges ongoing uncertainty in the elective surgery market due to potential COVID-19 variants. Monthly unaudited sales reporting will continue until clearer market visibility is established.
PARSIPPANY, N.J., Aug. 4, 2021 - Pacira BioSciences (NASDAQ: PCRX) will present at the 2021 Wedbush PacGrow Healthcare Virtual Conference on August 10, 2021, at 10:20 AM ET. Interested parties can access the live audio via the company’s website. A replay will be available for two weeks post-event. Pacira is dedicated to non-opioid pain management and regenerative health solutions, highlighted by its long-acting analgesic, EXPAREL, launched in April 2012, and the acquisition of the iovera° system in April 2019.
Pacira BioSciences (PCRX) reported strong second quarter 2021 financial results with total revenues of $135.6 million, up from $75.5 million year-over-year. EXPAREL net sales reached $130.1 million, significantly higher than $73.0 million in Q2 2020. The company achieved a GAAP net income of $19.1 million (or $0.43 per share), a recovery from a loss in the same quarter last year. Adjusted EBITDA soared to $50.3 million. Pacira also announced FDA approval for an enhanced EXPAREL manufacturing process and a distribution agreement with Eurofarma for Latin America, indicating positive growth prospects.
Pacira BioSciences has received FDA approval for an enhanced manufacturing process for its product EXPAREL (bupivacaine liposome injectable suspension), allowing it to double production capacity at a new 200-liter facility in Swindon, England. This move is anticipated to enhance gross margins and extend market exclusivity to January 2041 with the issuance of a new patent. The company aims to commence commercial sales of EXPAREL produced in this facility by the end of the year.
Pacira BioSciences (Nasdaq: PCRX) reported significant findings on the iovera° system from a study focused on total knee arthroplasty (TKA). The addition of preoperative iovera° treatment to a multimodal pain management protocol led to a remarkable 51% reduction in daily opioid consumption and notably decreased pain levels and hospital stay lengths. Analysis of 267 patients showed less than 17% had a hospital stay of two or more days compared to 99% in the control group. These outcomes highlight iovera°'s efficacy in enhancing post-surgical recovery.