Executive Transition - PharmaCorp RX Inc. announced the appointment of Paul Dale as President and Chief Operating Officer effective December 1, 2025, as Calvin LeRoux transitions to a one-year role as Strategic Advisor to the CEO [1][2] - Paul Dale has been with PharmaCorp since its inception as Chief Operating Officer and will now take on broader leadership responsibilities to support the company's national expansion strategy [2] - Calvin LeRoux will assist in the transition and continue to provide guidance on strategic initiatives and matters related to PharmaChoice Canada in his new advisory role [2] New Appointment - Sophia Sigler will join PharmaCorp as Director of Business Development effective December 1, 2025, leading business development initiatives, including sourcing acquisition opportunities and managing the transaction pipeline [2] Company Overview - PharmaCorp is a Canadian pharmacy acquisition and ownership platform focused on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners [3] - The company operates seven PharmaChoice Canada bannered pharmacies and aims to acquire both bannered and independent pharmacies across Canada, rebranding non-bannered locations under the PharmaChoice Canada platform [3]

Core Viewpoint - Pacira BioSciences, Inc. has filed a patent infringement lawsuit against The WhiteOak Group, Inc. and Qilu Pharmaceutical (Hainan) Co., Ltd. regarding EXPAREL, aiming to protect its intellectual property rights and prevent the sale of generic versions of its product [1][2]. Company Overview - Pacira BioSciences is focused on delivering innovative, non-opioid pain therapies, with three commercial-stage products: EXPAREL, ZILRETTA, and iovera° [5]. - EXPAREL is a long-acting local analgesic approved for various postsurgical pain management applications, significantly reducing opioid consumption by up to 78% [6]. Legal Action - The lawsuit seeks an injunction to halt the manufacture, use, and sale of generic products linked to the ANDAs filed with the FDA, triggering a 30-month stay on final FDA approval [2]. - Pacira's EXPAREL is protected by 21 patents, with expiration dates ranging from January 22, 2041, to July 2, 2044 [3][4]. Patent Strength - The company expresses confidence in the strength of its patent portfolio and plans to vigorously defend its intellectual property rights against the generic manufacturers [4].

Summary of Pacira BioSciences Conference Call Company Overview - **Company**: Pacira BioSciences (NasdaqGS:PCRX) - **Focus**: Musculoskeletal pain management - **Products**: - Exparel: Flagship nerve block product - Zilretta: Long-acting steroid for osteoarthritis - Iovera: Medical device using cryoneurolysis for pain relief - **Future Goals**: 5x30 initiative aiming for significant growth and development by 2030 [1][2] Financial Performance - **Revenue Projection**: Expected to be around $750 million for the year, with Exparel contributing over $500 million [4] - **EBITDA**: Anticipated to be around $200 million [4] - **Growth Drivers**: Exparel is the main growth driver, with ongoing investments in commercial medical market access [3][5] Exparel Growth Dynamics - **Reimbursement Catalyst**: Introduction of "no pain" reimbursement for Medicare patients, allowing separate reimbursement for Exparel [6] - **Volume Growth**: Year-over-year volume increases of 3%, 6%, and 9% in the first three quarters, respectively [7] - **Adoption Challenges**: Larger institutions are slower to adopt due to organizational complexities [12][13] Market Access and Sales Strategy - **GPO Contracts**: Over 80% of business contracted under Group Purchasing Organizations (GPOs) [10] - **Sales Force Structure**: Dedicated sales forces for Exparel, Zilretta, and Iovera to enhance focus and efficiency [17][18] - **Education Efforts**: Increased focus on educating payers and healthcare professionals about the benefits of Exparel [16] Pipeline and Future Products - **PCRX-201**: A gene therapy targeting osteoarthritis of the knee, with a completed Phase I program and a recently enrolled Phase 2A program [29][30] - **Market Potential**: Positioned as a gene therapy for the masses, with a focus on local administration and improved safety profiles [29][31] - **Phase 2 Program**: Aiming for transformative pain relief extending beyond the current standard of care [32] Manufacturing and Margins - **Manufacturing Improvements**: Transition to a 200-liter process has improved production reliability and reduced waste, leading to enhanced gross margins [26][27] - **Margin Guidance**: Expected to achieve at least a five-point margin improvement over five years [27] International Expansion - **Global Market Opportunities**: Plans to explore markets outside the U.S. without the need for additional clinical studies [24] Conclusion - **Outlook**: Anticipated continued growth driven by Exparel, Zilretta, and Iovera, alongside new product developments and strategic partnerships [21][23]

Core Points - PharmaCorp Rx Inc. has received approval from the TSX Venture Exchange for the supplemental listing of 27,427,500 common share purchase warrants, expected to trade under the symbol PCRX.WT starting November 17, 2025 [1][2] - The Offering closed on November 12, 2025, with a total of 54,855,000 Units issued, each consisting of one common share and one-half of a common share purchase warrant, with an exercise price of $0.50 per Warrant Share [2] Company Overview - PharmaCorp is a Canadian pharmacy acquisition and ownership platform focused on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners [4] - The company operates seven PharmaChoice Canada bannered pharmacies and aims to acquire both bannered and independent pharmacies across Canada, rebranding non-bannered locations under the PharmaChoice Canada platform [4]

Core Points - PharmaCorp Rx Inc. has successfully closed a bought deal public offering, raising approximately C$23.0 million through the sale of 54,855,000 units at C$0.42 per unit, including the full exercise of the over-allotment option [1][2] - Each unit consists of one common share and one-half of a common share purchase warrant, with the warrants allowing the purchase of additional shares at C$0.50 until November 12, 2027 [2] - The net proceeds from the offering will be allocated for future acquisition opportunities and general working capital [3] Offering Details - Directors and officers of the company participated in the offering, acquiring a total of 3,762,010 units, which is classified as a related party transaction [4] - The underwriters received a cash commission of 6.0% of the gross proceeds, totaling C$1,134,633, and were issued 2,026,130 broker warrants [5] - The offering was conducted under a prospectus supplement dated November 7, 2025, linked to the company's base shelf prospectus filed with Canadian securities authorities [6] Company Overview - PharmaCorp is a Canadian pharmacy acquisition platform focused on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners [7] - The company operates seven pharmacies under the PharmaChoice Canada banner and aims to expand its network by acquiring both bannered and independent pharmacies [7] - PharmaCorp actively seeks discussions with pharmacy owners considering succession or sale, emphasizing a commitment to seamless transitions [8][9]

Core Viewpoint - DOMA Perpetual Capital Management LLC, a significant stockholder of Pacira BioSciences, Inc., is urging the Board to hire bankers and initiate a full sale process for the company due to perceived management underperformance and financial mismanagement [1][2][4]. Financial Performance and Management Concerns - Pacira's management has been criticized for excessive spending, with stock-based compensation projected to be approximately 6% of the company's market capitalization for 2025, exceeding the firm's entire operating income [2][6]. - Year-to-date sales of Zilretta have declined by 2% year over year through Q3, indicating poor business performance [3]. - Revenue growth has been modest at 3% year over year, while expenditures have surged, with R&D costs increasing by 36% and SG&A by 25% year over year [6]. Valuation and Sale Potential - A potential sale could yield a valuation of around $2.7 billion, translating to approximately $66 per share, which is three times the current stock price and represents a reasonable acquisition valuation [4][5]. - The cash flows from Pacira's assets, particularly Exparel, could exceed $10 billion through patent expiration, suggesting significant value under a larger owner [4]. Strategic Recommendations - The company should immediately pursue a sale process, with a target completion date before the end of Q1 2026 [7]. - Cost-cutting strategies must be implemented to enhance shareholder returns, and all new development programs should be put on hold until a sale is explored [12]. - Free cash flow should be prioritized for share buybacks, with a recommendation for a new $300 million buyback program following the completion of the current one [12]. Shareholder Relations and Governance - The Board's actions have been perceived as neglecting shareholder interests, with ongoing dilution of shareholder value through unapproved share issuances [10][11]. - DOMA has been in communication with the Board for over a year, advocating for a shareholder-friendly capital allocation framework, which has only recently begun to materialize [9].

Group 1 - The article does not provide any specific information or insights regarding a company or industry [1]

Financial Data and Key Metrics Changes - Year-over-year revenues increased by 6%, driven by strong performance from Exparel and iovera [4] - Third-quarter Exparel sales rose to $139.9 million from $132.0 million in 2024, with a volume growth of 9% [21] - Non-GAAP gross margin improved to 82% from 78% year-over-year, benefiting from manufacturing efficiencies [22] - Adjusted EBITDA for the third quarter was $49.4 million [22] Business Line Data and Key Metrics Changes - Exparel demand saw a year-over-year volume increase of approximately 9%, marking the highest quarterly growth in over three years [4] - ZILRETTA sales increased to $29.0 million from $28.4 million in 2024 [21] - Iovera sales grew to $6.5 million from $5.7 million in 2024 [21] Market Data and Key Metrics Changes - Approximately 60 million commercial lives now have access to Exparel through separate reimbursement mechanisms, with a total covered population nearing 90 million across commercial and government payers [15] - Strong adoption of Exparel in ambulatory surgery centers, with volumes up more than 25% year-over-year [19] Company Strategy and Development Direction - The company is focused on its 5x30 growth strategy, which aims for a five-year double-digit compound annual growth rate (CAGR) for revenue [14] - The in-licensing of AMT 143 aligns with the company's strategy to expand its clinical pipeline and enhance its product offerings [5] - The company is prioritizing complementary mid to late-stage opportunities in its pipeline, particularly in musculoskeletal pain [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory of Exparel, anticipating that volume growth will converge with revenue growth over time [21] - The company expects to see significant earnings driven by improving sales and enhanced gross margins [25] - Management remains optimistic about the potential of PCRX 201 to revolutionize osteoarthritis treatment [8] Other Important Information - The company executed an additional $50 million in share repurchases during the third quarter [23] - The company has a strong balance sheet with cash and investments of approximately $246 million [23] Q&A Session Summary Question: Impact of GPO on volume growth and selling days - Management noted strong uptake from the GPO signed in June, which contributed to volume growth [30] - There was no significant impact from the number of selling days in the quarter [33] Question: Rationale behind AMT 143 program and trial design - The company sees a market need for a product with longer durability and ease of use, complementary to Exparel [35] - IP protection for AMT 143 extends to 2042, with plans to expand upon that [38] Question: Awareness of Exparel in larger hospitals and market growth for elective procedures - Growth has been faster in smaller hospitals and ASCs, with larger institutions taking more time due to more decision-makers [43] - Modest improvements in elective procedures were noted in the third quarter, with expectations for more in the fourth quarter [49] Question: Early indicators for ZORVOLTA and gross margin expectations - The dedicated ZORVOLTA sales force is expected to drive momentum in the fourth quarter and significant progress in 2026 [52] - Gross margins are expected to improve next year, with a long-term goal of a 5% improvement over 2024 levels [56]

Business Growth - Pacira treated more than 3 million patients per year[4,6,8] - The company is experiencing double-digit compounded annual growth rate in product revenue[4,9] - EXPAREL volume growth in 3Q25 reached 9% year-over-year, marking the highest volume growth in over 3 years[9] - Pacira anticipates product revenue to exceed $1.1 billion by 2030[9] Profitability - Pacira achieved a 5-percentage point gross margin improvement over 2024[4,10] - The company's non-GAAP gross margins are projected to be between 80% and 82%[11,42] Pipeline and Partnerships - Pacira is expanding its clinical pipeline with 5 novel programs in development[4,12] - The company is establishing 5 partnerships, including pipeline and commercial agreements[4,14] Financial Performance - Total revenue for 3Q25 was $180 million[42] - Adjusted EBITDA for 3Q25 was $49 million[42] - The company's cash and investments stand at approximately $246 million[42]

Product Development and Acquisitions - Pacira's long-acting, non-opioid analgesic EXPAREL is approved for managing postsurgical pain in patients aged six years and older, with a unique pMVL drug delivery technology[199]. - The acquisition of Flexion Therapeutics in November 2021 added ZILRETTA, which provides major relief for osteoarthritis knee pain for up to three months[199]. - In February 2025, Pacira acquired an 81% equity interest in GQ Bio Therapeutics, enhancing its gene therapy capabilities with the novel HCAd platform[199]. - An exclusive license agreement with AmacaThera for AMT-143 includes a $5 million upfront payment and potential future milestone payments, aligning with Pacira's growth strategy[208]. - The company has prioritized three other preclinical HCAd-based gene therapy programs, including PCRX-1002 for Dry Eye Disease and PCRX-1003 for Degenerative Disc Disease[241]. Clinical Trials and Research - The company expects to report results from an interim analysis of the Phase 2 ASCEND study for PCRX-201 by the end of 2026[208]. - New data from a Phase 1 trial of PCRX-201 showed sustained efficacy for up to three years, with improvements in pain and function across all severity subgroups[209]. - The company is advancing a Phase 2 clinical study known as ASCEND for PCRX-201 in knee osteoarthritis (OA), involving approximately 135 patients aged 45 to 80[237]. - The primary endpoint of the ASCEND study includes the number and percentage of treatment-emergent adverse events from Week 1 through Week 52[239]. - A Phase 3 study is underway to evaluate ZILRETTA for managing OA pain of the shoulder, potentially expanding its label[219]. - Clinical data indicates that EXPAREL significantly reduces opioid usage while improving postsurgical pain management[215]. - The iovera° system is a non-opioid device providing pain relief for knee OA, with clinical data showing significant reductions in opioid use post-surgery[221][223]. - PCRX-201, targeting the IL-1 pathway, showed promising results in a Phase 1 study with over 70% of patients experiencing a 50% or greater improvement in pain[236]. Financial Performance - Net product sales for the three months ended September 30, 2025, were $178.0 million, a 6% increase from $167.7 million in 2024[244]. - Total revenues for the nine months ended September 30, 2025, were $529.5 million, a 3% increase from $513.7 million in 2024[244]. - EXPAREL revenue increased by 6% and 5% for the three and nine months ended September 30, 2025, respectively, driven by a 9% and 6% increase in gross vial volume[244]. - ZILRETTA revenue increased by 2% in the three months ended September 30, 2025, but decreased by 2% in the nine months due to a 4% decrease in kit volume[245]. - The cost of goods sold decreased by 12% to $34.3 million for the three months ended September 30, 2025, contributing to a gross margin increase to 81%[250]. - Total research and development (R&D) expenses increased by 36% to $25.966 million for the three months ended September 30, 2025, and by 38% to $79.859 million for the nine months ended September 30, 2025, compared to the same periods in 2024[254]. - Sales and marketing expenses grew by 35% to $58.471 million for the three months and by 36% to $165.006 million for the nine months ended September 30, 2025, reflecting investments in customer awareness and education programs[263]. - Total selling, general and administrative expenses increased by 23% to $91.797 million for the three months and by 25% to $267.151 million for the nine months ended September 30, 2025[262]. Legal and Regulatory Environment - The ongoing U.S. government shutdown may impact the FDA's ability to review regulatory submissions, potentially affecting Pacira's operations[206]. - The company expects to incur additional legal costs related to defending its intellectual property against two Chinese generic drug manufacturers seeking to produce a generic version of EXPAREL[266]. Workforce and Operational Changes - The company implemented a reduction in force affecting 71 employees, approximately 8% of the total workforce, resulting in $3.7 million in employee termination benefit charges[211]. - The workforce reduction is expected to lead to an annual reduction in operating expenses of approximately $13.0 million, excluding one-time expenses[212]. - In the nine months ended September 30, 2025, the company recognized $3.7 million in pre-tax employee termination benefit charges due to a reduction in force at its Science Center Campus[275]. Economic and Market Conditions - Global economic conditions, including inflation and tariffs, may negatively impact Pacira's business and financial results[201]. - The U.S. and E.U. agreed to a trade deal in July 2025, setting a 15% tariff on most imports from the E.U., which could affect costs for Pacira[202]. Debt and Financing - The company entered into a $300.0 million senior secured revolving credit facility on July 3, 2025, to refinance existing debt and provide working capital[298]. - The company entered into a TLA Credit Agreement on March 31, 2023, securing a term loan of $150.0 million, which is scheduled to mature on March 31, 2028[303]. - The TLA Term Loan requires quarterly principal repayments starting at $2.8 million, increasing to $3.8 million by March 31, 2025, with a balloon payment of approximately $85.3 million due at maturity[304]. - The company completed a private placement of $287.5 million in 2.125% convertible senior notes due 2029, with all principal outstanding as of September 30, 2025[306]. - The company repurchased $200.0 million of its 0.750% convertible senior notes due 2025 for $191.4 million, resulting in a $7.5 million gain on early extinguishment of debt[307]. - The company anticipates that existing cash and cash equivalents will be sufficient to fund operating expenses and capital requirements for the next 12 months[310]. - The company may require additional debt or equity financing to meet future operating and capital requirements, with no committed external sources of funds[311].