Pacira Biosciences Inc Stock Price, News & Analysis

Pacira BioSciences (PCRX) has confirmed receiving director nominations from DOMA Perpetual Capital Management for its 2025 Annual Meeting of Stockholders. DOMA has proposed three candidates for election to Pacira's Board of Directors.

In response, Pacira stated that its Board and management team are implementing actions to enhance shareholder value, including a recently completed comprehensive portfolio review and the establishment of their '5x30 plan'. The company's Nominating, Governance and Sustainability Committee will evaluate DOMA's proposed candidates as part of their standard review process.

The Board will present its formal recommendation regarding director nominees in the upcoming definitive proxy statement. No immediate shareholder action is required, and the 2025 Annual Meeting date has not been announced. Evercore and Wachtell, Lipton, Rosen & Katz are serving as financial and legal advisors respectively.

DOMA Perpetual Capital Management, owning 4.2% of Pacira BioSciences (NASDAQ: PCRX), has nominated three directors to the company's board amid concerns over poor performance and capital allocation. The activist investor highlighted that Pacira's stock has declined 76% over the past decade while the S&P 500 gained 167%.

The key concerns include:

• 33% stock price decline under current CEO Frank Lee
• Management compensation totaling nearly half a billion dollars (approximately 50% of current market cap)
• Questionable capital allocation strategies

DOMA's nominated candidates include: Joseph Kromholz (IP law expert), Philip Pucciarelli (healthcare investment banking veteran), and Eric de Armas (DOMA's CFO/CCO). DOMA aims to accelerate share buybacks and return cash to shareholders while avoiding substantial risks until IP battle certainty is achieved.

Pacira BioSciences (PCRX) has granted inducement awards to six new employees on March 4, 2025, under its Amended and Restated 2014 Inducement Plan. The awards include:

• Stock options for 23,500 shares granted to five employees, with a 10-year term and exercise price of $23.53 per share
• 29,400 restricted stock units (RSUs) distributed among six employees

The stock options follow a four-year vesting schedule with 25% vesting on first employment anniversary and quarterly installments over 36 months thereafter. RSUs vest annually in four equal installments starting March 1, 2026. All awards require continued employment and were approved by the Compensation Committee under Nasdaq Listing Rule 5635(c)(4).

Pacira BioSciences (PCRX) reported its Q4 and full-year 2024 financial results, achieving record revenues of $701 million for the year, a 4% increase from 2023. The company posted a full-year GAAP net loss of $99.6 million and adjusted EBITDA of $223.9 million.

Key Q4 metrics include revenues of $187.3 million and GAAP net income of $16 million. Product performance showed EXPAREL sales at $147.7 million (+3%), ZILRETTA at $33.1 million (+15%), and iovera° at $6.5 million (+7%).

The company announced its new Five-Year Plan (5x30) to transition into an innovative biopharmaceutical organization, focusing on musculoskeletal pain. Strategic moves include acquiring the remaining 81% stake in GQ Bio for $32 million and receiving FDA clearance for a new iovera° SmartTip for chronic low back pain management.

For 2025, Pacira projects total revenue between $725-765 million, with non-GAAP gross margins of 76-78%.

Pacira BioSciences (PCRX) has acquired the remaining 81% equity stake in GQ Bio Therapeutics for approximately $32 million. The transaction includes $18 million paid at closing, $8 million over three years for key employee retention, and a $6 million post-closing indemnity holdback.

The acquisition strengthens Pacira's '5x30' strategy to become an innovative biopharmaceutical organization, adding GQ Bio's high-capacity adenovirus (HCAd) gene therapy vector platform. This platform enables efficient genetic medicines delivery and supports multiple gene constructs, particularly focusing on musculoskeletal diseases.

The deal eliminates Pacira's future milestone payment obligations of up to $64 million, including a $4.5 million payment due for PCRX-201's Phase 2 clinical trial initiation. Pacira plans to maintain GQ Bio's operations and invest in the HCAd platform, leveraging its clinical, regulatory, and commercial capabilities to address chronic pain conditions affecting nearly 1 in 4 Americans.

Pacira BioSciences (Nasdaq: PCRX), a leader in non-opioid pain therapies, has announced its participation in two major healthcare conferences in March 2025. The company will engage in analyst-led fireside chats at:

• The Raymond James 46th Annual Institutional Investors Conference on March 5th at 10:25AM ET
• The Barclays 27th Annual Global Healthcare Conference on March 12th at 8:00AM ET

Both events will be accessible via live audio on the company's website investor.pacira.com under the 'Events' section. Webcasts will remain available for replay for two weeks following each event.

Pacira BioSciences (PCRX) has announced it will release its fourth quarter and full-year 2024 financial results after U.S. markets close on Thursday, February 27, 2025. The company will host a conference call and webcast at 4:30 p.m. ET on the same day.

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. The conference call will also be available as a webcast through the 'Events' page on Pacira's investor website. A replay of the webcast will be accessible on the company's website for approximately two weeks following the call.

Pacira BioSciences (PCRX) announced inducement grants to 15 new employees on February 4, 2025, under its Amended and Restated 2014 Inducement Plan. The grants include significant awards to two key executive appointments: Brendan Teehan as Chief Commercial Officer and Krys Corbett as Chief Business Officer.

Teehan received options to purchase 99,500 shares at $26.59 per share and 54,000 restricted stock units (RSUs). Corbett received options for 88,400 shares at $26.59 and 46,000 RSUs. Additionally, four employees received options to purchase 20,600 shares, and 13 employees received 45,400 RSUs.

The stock options have a 10-year term with four-year vesting schedules. RSUs vest in four equal annual installments starting February 1, 2026. All awards are subject to continued employment with Pacira.

Pacira BioSciences (PCRX) announced significant changes to its Board of Directors. Laura Brege has been appointed as Chair of the Board, while former Chair Paul J. Hastings and Andreas Wicki have retired. The Board now consists of nine directors, with eight being independent and five joining since October 2023.

Brege brings over a decade of experience with Pacira and 30 years of executive management expertise in the pharmaceutical and biotechnology industries. She has held executive positions at BridgeBio Pharma, Onyx Pharmaceuticals, and COR Therapeutics.

These changes are part of Pacira's ongoing Board transformation, which began 15 months ago with the appointment of four new independent directors. Additionally, Alethia Young has been appointed as the new Chair of the Audit Committee, succeeding Brege in this role.