Financial Performance - EXPAREL net product sales reached $136.9 million in Q2 2024, a 1.3% increase from $135.1 million in Q2 2023, with a volume growth of 3% offset by contracted discounts[2]. - Non-GAAP net income was $44.2 million, or $0.96 per share (basic), compared to $36.0 million, or $0.78 per share (basic) in Q2 2023, reflecting a 22.2% increase in net income[3]. - Adjusted EBITDA for Q2 2024 was $62.1 million, up from $54.3 million in Q2 2023, indicating a 14.3% growth[3]. - Total revenues for Q2 2024 were $178.0 million, compared to $169.5 million in Q2 2023, marking a 5.3% increase[13]. - Iovera° net product sales were $5.7 million in Q2 2024, up from $4.4 million in Q2 2023, representing a 29.5% increase[14]. - Cash provided by operations was $53.2 million in Q2 2024, compared to $43.5 million in Q2 2023, showing a 22.4% increase[4]. - Total revenues for the second quarter of 2024 were $178.0 million, with net product sales of $136.9 million for EXPAREL, $30.7 million for ZILRETTA, and $5.7 million for iovera°[41]. - GAAP net income for the second quarter of 2024 was $18.9 million, or $0.41 per share (basic) and $0.39 per share (diluted), compared to $25.8 million, or $0.56 per share (basic) and $0.51 per share (diluted) in the second quarter of 2023[51]. - The company expects total revenue for 2024 to be between $680 million and $705 million, with non-GAAP R&D expenses projected at $70 million to $80 million[52][61]. - ZILRETTA net product sales increased to $30.7 million in Q2 2024 from $29.3 million in Q2 2023, reflecting a year-over-year growth[48]. - Total net product sales for the three months ended June 30, 2024, were $176.387 million, up 4.9% from $169.467 million in the same period of 2023[74]. - EXPAREL sales for the three months ended June 30, 2024, were $136.852 million, slightly up from $135.127 million in the same period of 2023[74]. - Total revenues for the three months ended June 30, 2024, were $178.023 million, an increase of 5.1% from $169.467 million in the same period of 2023[74]. Operating Expenses - Total operating expenses for Q2 2024 were $149.8 million, compared to $129.6 million in Q2 2023, indicating an increase in operational costs[49]. - Research and development expenses were $20.3 million in Q2 2024, up from $18.8 million in Q2 2023, reflecting ongoing investment in product development[50]. - Total operating expenses for the three months ended June 30, 2024, increased to $149.783 million from $129.590 million in the same period of 2023, representing a 15.6% increase[74]. - Income from operations for the three months ended June 30, 2024, was $28.240 million, down 29.2% from $39.877 million in the same period of 2023[74]. - Research and development expenses for the three months ended June 30, 2024, were $20.338 million, an increase from $18.824 million in the same period of 2023[74]. Strategic Initiatives - Pacira maintains its full-year 2024 financial guidance, projecting stock-based compensation between $50 million and $55 million[5]. - The Centers for Medicare and Medicaid Services (CMS) proposed new reimbursement for EXPAREL in all outpatient surgical environments starting January 1, 2025, which is expected to enhance utilization and revenue growth[43][44]. - The company announced a $150 million share repurchase program, allowing for the repurchase of outstanding common stock until December 31, 2026[44]. - Pacira issued $287.5 million in aggregate principal amount of 2.125% convertible senior notes due 2029, with proceeds used for share repurchase and general corporate purposes[45]. - The Company initiated a restructuring plan in February 2024 to focus on long-term growth, reallocating resources to its U.S. commercial portfolio and preparing for separate Medicare reimbursement for EXPAREL starting January 2025[75]. - The company is focused on expanding the use of its products, including plans for additional indications and opportunities for EXPAREL, ZILRETTA, and iovera°[23]. - The company is focused on maximizing the benefits of separate EXPAREL reimbursement with the implementation of NOPAIN in January 2025, aiming for accelerated topline growth[42]. Income Tax and Other Expenses - The effective income tax rate for non-GAAP adjustments was approximately 24% for both the three and six months ended June 30, 2024, compared to 25% for the same periods in 2023[75]. - The Company reported a tax expense of $17.698 million for the three months ended June 30, 2024, compared to $12.091 million in the same period of 2023[77]. - Interest expense for the three months ended June 30, 2024, was $3.884 million, slightly up from $3.865 million in the same period of 2023[77]. - Acquisition-related expenses from the Flexion Therapeutics acquisition included $0.230 million for the three months ended June 30, 2024[77]. - Restructuring charges for the three months ended June 30, 2024, amounted to $0.504 million, down from $0.936 million in the same period of 2023[77]. - The Company excluded approximately $0.5 million and $2.7 million of restructuring charges from stock-based compensation for the three and six months ended June 30, 2024, respectively[75]. Leadership Changes - The Company appointed a new CEO effective January 2, 2024, incurring transition costs of $0.294 million during the three months ended June 30, 2024[75].

-- Conference call today at 4:30 p.m. ET -- TAMPA, Fla., July 30, 2024 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its commitment to non-opioid pain management and regenerative health solutions, today reported financial results for the second quarter of 2024. Second Quarter 2024 Financial Highlights Total revenues of $178.0 million Net product sales of $136.9 million for EXPAREL, $30.7 million for ZILRETTA, and $5.7 million for iovera° Net income of $18.9 million, or ...

It has been about a month since the last earnings report for Pacira (PCRX) . Shares have added about 1.7% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Pacira due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Pacira Q1 Earnings Miss, Exparel Sales Drive Revenues ...

1Q24 Earnings Presentation May 2024 Forward-looking statements and where to find additional information This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to: our growth and future operating results and trends, our strategy, plans, objectives, expectations (financial or otherwise) and intentio ...

Pacira BioSciences, Inc. (NASDAQ:PCRX) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Company Participants Susan Mesco - Head of Investor Relations Frank Lee - Chief Executive Officer Charles Reinhart - Chief Financial Officer Jonathan Slonin - Chief Medical Officer Christian Pedetti - Senior Manager, Investor Relations Conference Call Participants Gregory Renza - RBC Capital Markets David Amsellem - Piper Sandler Gary Nachman - Raymond James Balaji Prasad - Barclays Operator Thank you for standing ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35060 PACIRA BIOSCIENCES, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorpora ...

FOR IMMEDIATE RELEASE See "Non-GAAP Financial Information" below. "Sales are off to a solid start for all three of our trusted, opioid-sparing products and we remain sharply focused on driving accelerated growth in 2025 and beyond," said Frank D. Lee, chief executive officer of Pacira BioSciences. "We are pleased with the progress we are making advancing the launch of EXPAREL in two new lower extremity nerve block indications, and we are receiving positive market receptivity across all sites of care. We are ...

Revenue Performance - EXPAREL net product sales remained flat at $538.12 million in 2023 compared to $536.90 million in 2022, with a 4% increase in gross vial volume offset by a 3% decrease in net selling price per unit [446]. - ZILRETTA revenue increased by 5% to $111.10 million in 2023, driven by a 3% increase in kit volume and a 2% increase in selling price per unit [447]. - iovera° net product sales rose by 29% to $19.69 million in 2023, primarily due to a 33% increase in Smart Tip volume [447]. - Total revenues for 2023 were $674.98 million, a 1% increase from $666.82 million in 2022 [446]. Gross Margin and Expenses - Gross margin improved to 73% in 2023, up from 70% in 2022, mainly due to lower inventory reserves and reduced royalty expenses [449]. - Total research and development expenses decreased by 10% to $76.26 million in 2023, representing 11% of total revenue [453]. - Clinical and preclinical development expenses fell by 46% to $24.47 million in 2023, attributed to the completion of certain trials [454]. - Product development and manufacturing capacity expansion expenses increased by 35% to $33.37 million, driven by new product development costs and scale-up activities for EXPAREL [455]. - Total selling, general and administrative expenses rose by 6% in 2023, amounting to $269.4 million, which is 40% of total revenue [458]. - Sales and marketing expenses increased by 6% in 2023 to $153.0 million, driven by marketing investments and educational initiatives [459]. - General and administrative expenses increased by 12% in 2023 to $82.7 million, primarily due to legal fees from ongoing litigation [461]. Cash Flow and Financing - Net cash provided by operating activities was $154.6 million in 2023, an increase of $9.4 million from 2022 [479]. - Net cash provided by investing activities was $77.5 million in 2023, reflecting $99.5 million from available-for-sale investment maturities [480]. - Net cash used in financing activities was $183.0 million in 2023, including a $296.9 million repayment of TLB Term Loan principal [482]. - The company had an accumulated deficit of $106.8 million and cash and cash equivalents of $281.0 million as of December 31, 2023 [476]. Debt and Interest - Interest expense decreased by 49% in 2023 to $20.3 million, attributed to the TLA Term Loan entered in March 2023 [470]. - As of December 31, 2023, the outstanding principal on the TLA Term Loan was $116.6 million, with a borrowing rate of 8.46% [485]. - The company made a scheduled principal payment of $2.8 million and $30.6 million in voluntary principal prepayments during the year ended December 31, 2023, resulting in no required principal payments for 2024 [485]. - The company incurred a $16.9 million loss on early extinguishment of debt after repaying the $287.5 million principal on the TLB Term Loan [488]. - The TLA Term Loan has a principal amount of $150.0 million, with an outstanding principal of $116.6 million as of December 31, 2023, and an interest rate of 8.46% [508]. Tax and Equity - The effective tax rate for 2023 was 32%, significantly higher than the U.S. statutory tax rate of 21% due to non-deductible expenses [474]. - The company has raised $344.5 million in net proceeds from the sale of common stock and other equity securities since its inception in December 2006 [484]. Regulatory and Management Changes - The FDA approved the sNDA for a 200-liter EXPAREL manufacturing suite in February 2024, expected to enhance gross margins over time [445]. - The company appointed Frank D. Lee as CEO in December 2023, bringing over three decades of experience in the biotech and pharmaceutical industry [444]. - Regulatory and other research and development expenses increased by 22% in 2023 compared to 2022 due to increased enrollment and additional sites for an observational registry study [456]. Commitments and Risks - The company has potential milestone payments of up to $372.3 million related to the Flexion Acquisition, contingent on achieving certain regulatory and commercial milestones [494]. - As of December 31, 2023, the outstanding principal on the 2025 Convertible Senior Notes was $402.5 million, maturing on August 1, 2025 [489]. - The company had net minimum commitments of $78.6 million for operating leases as of December 31, 2023, with $13.0 million due in 2024 [496]. - The company is required to maintain a Senior Secured Net Leverage Ratio of no greater than 3.00 to 1.00 and a Fixed Charge Coverage Ratio of no less than 1.50 to 1.00 under the TLA Credit Agreement [486]. - Accounts receivable are primarily concentrated with three large wholesalers, posing a risk of material adverse impact on financial condition if there is non-performance or non-payment [510].

PCRX Pacira BioSciences Corporate Presentation November 2023 Forward-looking statements and where to find additional information Any statements in this presentation about Pacira's future expectations, plans, trends, outlook, projections and prospects, and other statements containing the words "believes," "anticipates," "plans," "estimates," "expects," "intends," "may," "will," "would," "could," "can" and similar expressions, constitute forward-looking statements within the meaning of Section 21E of the Secu ...

Pacira BioSciences, Inc. (NASDAQ:PCRX) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET Company Participants Susan Mesco - Head of Investor Relations Dave Stack - Chairman & Chief Executive Officer Charlie Reinhart - Chief Financial Officer Conference Call Participants Oren Livnat - H.C. Wainwright Operator Good day, and thank you for standing by. Welcome to the Q3 2023 Pacira BioSciences Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' pres ...