[8-K] Pacira BioSciences, Inc. Reports Material Event

Rhea-AI Filing Summary

Pacira BioSciences (PCRX) filed an 8-K on 9 July 2025 announcing a restructuring under Item 2.05. The company is shuttering its first-generation 45-liter manufacturing suite at its San Diego Science Center after commissioning two 200-plus-liter suites (Swindon 2021, San Diego 2024) that produce roughly 4× more bulk EXPAREL per batch and carry a lower cost structure.

The decision triggers a reduction in force of 71 employees, or ~8 % of head-count. Management expects to book $2.4 – $2.8 million in cash charges for severance, garden leave and related benefits plus $5.4 million of accelerated depreciation, with most of the impact flowing through Q3 2025 results.

Once complete, Pacira anticipates an annual operating-expense reduction of about $13 million and improved gross margins for EXPAREL owing to higher yields and scale efficiencies. The company cautions that additional, presently unforeseen, charges may arise and reiterates standard forward-looking-statement language.

An employee communication from CEO Frank D. Lee (Exhibit 99.1) was furnished under Item 7.01 and is not deemed filed. No changes were disclosed to current revenue guidance, product strategy or other financial metrics beyond the charges and cost-saving estimates.

Positive

• $13 million expected annual operating-expense reduction enhances EBITDA and cash flow starting 2026.
• 200-liter suites boost EXPAREL batch volume four-fold, supporting demand growth and margin expansion.
• Limited one-time cash charge ($2.4 – $2.8 M) keeps balance-sheet impact manageable.

Negative

• Workforce reduction of 71 employees (8 %) may affect morale and carries execution risk during transition.
• Total Q3 2025 charges up to $8.2 million (including $5.4 M non-cash depreciation) will depress near-term earnings.
• Company warns of potential additional, unanticipated costs related to the restructuring.

Insights

Sell-side Biotechnology Analyst

TL;DR – $8 M one-time hit buys $13 M yearly savings; margin-accretive, modestly positive.

The restructuring is strategically sensible: Pacira eliminates an obsolete 45-L line and fully transitions to its large-scale 200-L suites. The $2.4–$2.8 M cash outlay and $5.4 M non-cash depreciation are minor relative to the company’s revenue base and are front-loaded into Q3 2025. By contrast, $13 M in recurring cost savings directly lift EBITDA and gross margin for EXPAREL, supporting management’s long-term profitability narrative. Head-count loss (8 %) is limited to manufacturing; commercial and R&D capacity remain intact, minimising execution risk. Net effect: accretive to earnings from 2026 onward, with negligible balance-sheet strain.

Biotech Manufacturing Specialist

TL;DR – Capacity quadruples; process simplification offsets short-term disruption.

Moving from 45-L to 200-L pMVL batches standardises global production and cuts per-unit cost. Decommissioning the legacy suite removes a redundancy but risks temporary learning-curve issues; however, both large-scale suites are already in commercial use (since 2021 and 2024), lowering start-up risk. With improved yields, supply security should improve, supporting future demand spikes. Workforce expertise loss is mitigated because critical technical staff likely transfer to newer lines. Overall operationally positive, though careful scheduling is required to avoid supply gaps during decommissioning.

7/9/20250001396814false00013968142025-07-092025-07-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): July 9, 2025

PACIRA BIOSCIENCES, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-35060

51-0619477

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

2000 Sierra Point Parkway, Suite 900

Brisbane, California 94005

(Address and Zip Code of Principal Executive Offices)

(650) 242-8052

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol

Name of each exchange on which registered

Common Stock, par value $0.001 per share

PCRX

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.05 Costs Associated with Exit or Disposal Activities.

On July 9, 2025, Pacira BioSciences, Inc. (the “Company”) instituted a reduction in force at the Company’s Science Center Campus in San Diego, California as a result of improving manufacturing efficiencies for EXPAREL® (bupivacaine liposome injectable suspension). The Company’s enhanced efficiencies are the result of its multi-year investment in two large-scale 200+ liter batch manufacturing suites located in San Diego and Swindon, United Kingdom, which commenced commercial production in 2024 and 2021, respectively.

The Company’s two large-scale manufacturing suites are capable of producing bulk EXPAREL volumes that are approximately four-fold greater than the Company’s first-generation 45-liter batch manufacturing process. The Company believes these larger manufacturing suites provide ample capacity for meeting the growing demand and improving gross margins for EXPAREL through a meaningfully more favorable cost structure and manufacturing yields versus the 45-liter process. As a result, and after careful consideration, the Company decided to decommission its 45-liter suite located in San Diego and reduce its workforce accordingly.

The reduction impacts 71 employees or approximately 8% of the Company’s total workforce. The Company currently estimates that it will recognize pre-tax charges to its third quarter 2025 financial results of approximately $2.4 million to $2.8 million related to employee termination benefits, consisting of garden leave and severance, healthcare benefits, and, to a lesser extent, other one-time termination benefits and other costs. These charges are all cash based. In addition, the Company expects to recognize $5.4 million in accelerated depreciation expense.

This reduction in the workforce is subject to local regulatory requirements and the Company expects to recognize the majority of these charges in the third quarter of 2025. The reduction in the workforce is anticipated to lead to an annual reduction in operating expenses of approximately $13 million, which does not reflect the expenses associated with implementing the workforce reduction. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur in connection with the workforce reduction.

Item 7.01 Regulation FD Disclosure.

On July 10, 2025, Frank D. Lee, the Company’s Chief Executive Officer, sent a communication to employees of the Company announcing the reduction in force, a copy of which is furnished hereto as Exhibit 99.1.

The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Forward-Looking Statements

Any statements in this Current Report on Form 8-K about the Company’s future expectations, plans, trends, outlook, projections and prospects, and other statements containing the words “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “will,” “would,” and similar expressions, constitute forward-looking statements within the meaning of Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to: '5x30', the Company’s growth and business strategy, the Company’s future outlook, the Company’s intellectual property and patent terms, the Company’s growth and future operating results and trends, the Company’s plans, objectives, expectations (financial or otherwise) and intentions, future financial results and growth potential, including the Company’s plans with respect to the repayment of the Company’s indebtedness, anticipated product portfolio, development programs, development of products, strategic alliances, plans with respect to the Non-Opioids Prevent Addiction in the Nation (“NOPAIN”) Act, the expected cost savings and benefits of the reduction in force and other statements that are not historical facts. For this purpose, any statement that is not a statement of historical fact should be considered a forward-looking statement. The Company cannot assure you that its estimates, assumptions and expectations will prove to have been correct. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks relating to, among others: the failure to realize the anticipated benefits and synergies from the acquisition of GQ Bio Therapeutics GmbH; risks associated with acquisitions, such as the risk that the businesses will not be integrated successfully, that such integration may be more difficult, time-consuming or costly than expected or that the expected benefits of the transaction will not occur; the Company’s manufacturing and supply chain, global and U.S. economic conditions (including inflation and rising interest rates), and the Company’s business, including the Company’s revenues, financial condition, cash flow and results of operations; the success of the Company’s sales and manufacturing efforts in support of the commercialization of EXPAREL, ZILRETTA and iovera°; the rate and degree of market acceptance of EXPAREL, ZILRETTA and iovera°; the size and growth of the potential markets for EXPAREL, ZILRETTA and iovera° and the Company’s ability to serve those markets; the Company’s plans to expand the use of EXPAREL, ZILRETTA and iovera° to additional indications and opportunities, and the timing and success of any related clinical trials for EXPAREL, ZILRETTA

and iovera°; the commercial success of EXPAREL, ZILRETTA and iovera°; the related timing and success of U.S. Food and Drug Administration supplemental New Drug Applications and premarket notification 510(k)s; the related timing and success of European Medicines Agency Marketing Authorization Applications; the Company’s plans to evaluate, develop and pursue additional product candidates utilizing the Company’s proprietary multivesicular liposome (“pMVL”) drug delivery technology; the approval of the commercialization of the Company’s products in other jurisdictions; clinical trials in support of an existing or potential pMVL-based product; the Company’s commercialization and marketing capabilities; the Company’s ability to successfully complete capital projects; the outcome of any litigation; the recoverability of the Company’s deferred tax assets; assumptions associated with contingent consideration payments; assumptions used for estimated future cash flows associated with determining the fair value of the Company; the anticipated funding or benefits of the Company’s share repurchase program; and factors discussed in the “Risk Factors” of the Company’s most recent Annual Report on Form 10-K and in other filings that the Company periodically makes with the Securities and Exchange Commission (the “SEC”). In addition, the forward-looking statements included in this Current Report on Form 8-K represent the Company’s views as of the date of this Current Report on Form 8-K. Important factors could cause actual results to differ materially from those indicated or implied by forward-looking statements, and as such the Company anticipates that subsequent events and developments will cause its views to change. Except as required by applicable law, the Company undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and readers should not rely on these forward-looking statements as representing the Company’s views as of any date subsequent to the date of this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number						Description
99.1						Employee Communication dated July 10, 2025
104						Cover Page Interactive Data File (Formatted as Inline XBRL)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

									PACIRA BIOSCIENCES, INC. (REGISTRANT)
Dated:			July 10, 2025			By:			/s/ KRISTEN WILLIAMS
									Kristen Williams
									Chief Administrative Officer and Secretary

FAQ

Why is Pacira BioSciences (PCRX) reducing its workforce in 2025?

The company is decommissioning its 45-L manufacturing suite after ramping two 200-L lines, making the older process unnecessary.

How many Pacira employees are affected and what percentage of the workforce is that?

71 employees, representing approximately 8 % of total head-count, will be laid off.

What financial charges will Pacira record for the restructuring?

Pacira expects $2.4–$2.8 M in cash termination costs and $5.4 M in accelerated depreciation, mainly in Q3 2025.

How much annual savings does Pacira anticipate from the reduction in force?

Management projects an annual operating-expense reduction of about $13 million once the plan is complete.

Will the manufacturing change impact EXPAREL supply capacity?

The new 200-L suites increase bulk EXPAREL output roughly 4×, providing ample capacity to meet demand.

Could Pacira incur additional charges beyond the amounts disclosed?

Yes. The filing notes that unanticipated events could lead to further costs not currently contemplated.