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, Inc. (NASDAQ: PCRX) is a pharmaceutical preparation manufacturing company focused on non-opioid pain therapies, and its news flow reflects this specialized focus. Company announcements frequently highlight developments related to its three commercial-stage products—EXPAREL, ZILRETTA and iovera°—as well as its gene therapy candidate PCRX-201 for osteoarthritis of the knee.
On this page, readers can follow Pacira news such as commercial partnerships, clinical data, manufacturing updates and shareholder-related events. Recent releases include an agreement granting LG Chem exclusive rights to commercialize EXPAREL in select Asia-Pacific markets, preliminary revenue updates emphasizing EXPAREL sales, and data from a pilot study showing favorable safety and pain reduction with iovera° compared with radiofrequency ablation in chronic low back pain.
Pacira also issues news about its participation in scientific and investor conferences, including presentations at major healthcare conferences, and its involvement in collaborative research efforts. For example, the company announced that it joined the PROBE Consortium, a public‑private initiative using big data and AI to improve osteoarthritis research and care, and that it will contribute data from its ASCEND study of PCRX-201.
In addition, Pacira’s news includes corporate and financial updates such as preliminary unaudited revenue results, share repurchase activity, inducement equity grants under its inducement plan, and operational changes like workforce reductions linked to manufacturing efficiency improvements. External parties such as DOMA Perpetual Capital Management LLC have also issued public letters and proxy-related communications concerning Pacira’s governance and strategic options.
Investors, analysts and healthcare professionals can use this news feed to monitor product performance, pipeline progress, strategic partnerships, financing developments and shareholder actions that may influence the outlook for PCRX stock and Pacira’s role in non-opioid pain management.
Pacira BioSciences (NASDAQ: PCRX) announced promising 104-week safety and efficacy data for its gene therapy candidate PCRX-201 in treating knee osteoarthritis. The Phase 1 trial involving 72 patients demonstrated sustained improvements in knee pain, stiffness, and function. The pretreated cohort showed 48-65% pain improvement and 53-72% stiffness reduction from baseline. Over 70% of participants achieved >50% pain reduction by week 16. The therapy showed a well-tolerated safety profile with no serious treatment-related adverse events. PCRX-201, which received FDA's RMAT designation in March 2024, is designed to produce IL-1Ra protein to reduce inflammation. A Phase 2 study is planned for 2025.
Pacira BioSciences (NASDAQ: PCRX) announced its participation in two upcoming healthcare conferences. The company will engage in an analyst-led fireside chat at the Jefferies London Healthcare Conference on November 19th at 3:00 PM GMT (10:00 AM ET).
Additionally, Pacira BioSciences will be present at the 36th Annual Piper Sandler Healthcare Conference on December 3rd at 1:00 PM ET. Interested parties can access live audio of these events on the “Events” page of the company’s website at investor.pacira.com. Replays will be available for two weeks following the events.
Pacira BioSciences (PCRX) reported Q3 2024 financial results with total revenues of $168.6 million. Net product sales were $132.0 million for EXPAREL, $28.4 million for ZILRETTA, and $5.7 million for iovera°. The company reported a net loss of $143.5 million, or $3.11 per share, including a $163.2 million goodwill impairment charge. Adjusted EBITDA was $54.7 million. The company maintained its 2024 guidance of total revenue between $680-705 million. CMS confirmed EXPAREL and iovera° qualify for separate Medicare payment under the NOPAIN Act starting January 2025.
Pacira BioSciences (NSDQ: PCRX) announced that CMS has confirmed both EXPAREL and iovera° as qualifying non-opioid pain management products under the NOPAIN Act. Starting January 1, 2025, hospitals and ambulatory surgical centers will receive additional Medicare reimbursement for these products. EXPAREL will be reimbursed at 106% of average sales price using J-code J0666, while iovera° will receive up to $255.85 additional payment using C-code C9809. This implementation is part of the final Medicare Hospital OPPS and ASC Payment System rule for 2025, aimed at providing better access to non-opioid pain management options.
Pacira BioSciences (NASDAQ:PCRX) has announced it will release its third quarter 2024 financial results after U.S. markets close on Wednesday, November 6, 2024. The company will host a conference call and webcast at 4:30 p.m. ET following the release. Participants interested in the Q&A session must pre-register to receive dial-in information. The event will be accessible through the 'Events' page on Pacira's investor website, with a replay available for approximately two weeks after the call.
Pacira BioSciences, Inc. (Nasdaq: PCRX), a leader in non-opioid pain therapies, has appointed Shawn Cross as Chief Financial Officer. Mr. Cross brings over 25 years of experience in biotechnology and investment banking. He previously served at Applied Molecular Transport, Inc. (AMT) in various roles, including CEO, and led the company through its IPO and merger with Cyclo Therapeutics, Inc.
Mr. Cross will oversee all aspects of Pacira's financial operations. CEO Frank D. Lee expressed confidence in Cross's leadership as the company invests in long-term growth. As part of his appointment, Mr. Cross received inducement awards, including a non-qualified stock option for 200,000 shares and a restricted stock unit award for 75,000 shares, subject to vesting conditions.
Pacira BioSciences, Inc. (Nasdaq: PCRX), a leader in non-opioid pain therapies, has announced the granting of inducement awards to 55 new employees on October 2, 2024. These awards, approved by the Compensation Committee, include:
- Stock options for 68,900 shares of Pacira common stock to 10 employees
- Restricted stock units for 127,700 shares to 54 employees
The stock options have a 10-year term and a four-year vesting schedule, with an exercise price of $15.53 per share. The restricted stock units vest annually in four equal installments starting October 1, 2025. Both awards are subject to continued employment and individual award agreements.
Pacira BioSciences (NASDAQ: PCRX) announced that the Centers for Medicare and Medicaid Services (CMS) has established a new product-specific J-code (J0666) for EXPAREL, effective January 1, 2025. This J-code will replace the current C-code (C9290) and is expected to standardize and streamline billing and reimbursement for the non-opioid pain therapy.
The new J-code will provide reimbursement for EXPAREL in office settings and office-based surgeries, in addition to the separate CMS reimbursement in outpatient settings under the NOPAIN implementation. This development is significant as J-codes are widely recognized by commercial insurance plans, Medicare, and other government payers, potentially increasing clinician access to EXPAREL across various care settings and payer types.
Pacira BioSciences (NASDAQ: PCRX) announced the upcoming presentation of new 104-week safety and efficacy data for PCRX-201, its gene therapy candidate for moderate to severe osteoarthritis of the knee. The presentation will take place at the ACR Convergence annual meeting in Washington, D.C. on November 17.
PCRX-201 is a locally administered gene therapy designed to produce interleukin-1 receptor antagonist (IL-1Ra), which reduces IL-1 signaling, a factor in osteoarthritis progression. It uses an inducible promoter to express IL-1Ra when inflammation is present in the joint. In March 2024, PCRX-201 received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA, becoming the first gene therapy for osteoarthritis to do so. This designation provides benefits for expedited development and review. The therapy also received Advanced Therapy Medicinal Products (ATMP) designation from the European Medicines Agency in May 2023.
DOMA Perpetual Capital Management, holding about 4% of Pacira Biosciences (NYSE: PCRX) stock, sent a letter to the company's Board urging for an accelerated and increased stock repurchase program. The letter criticizes Pacira's capital allocation strategy and M&A track record, calling for a focus on enhancing shareholder returns. DOMA recommends:
1. Completing the current $150 million buyback before Q3 earnings
2. Approving a new $300 million buyback in Q4
3. Buying back $200 million of stock before year-end
4. Continuing buybacks into 2025
DOMA believes Pacira's $400 million cash balance (59% of market cap) is inefficient and sees the current stock price as an opportunity to create significant shareholder value. They project potential EPS of $5 in 2025 and $11 by 2027, with a stock price potentially reaching $75/share in the near term and $165/share by 2027.