Pacira(PCRX) Prnewswire·2025-02-24 10:45Core Viewpoint - Pacira BioSciences, Inc. faces significant legal challenges following the invalidation of its key patent, which could lead to increased competition and financial losses for the company [1]. Summary by Relevant Sections Company Overview - Pacira BioSciences, Inc. (NASDAQ: PCRX) is primarily known for its product Exparel, which constitutes approximately 80% of its revenue [1]. Legal Issues - A lawsuit against eVenus resulted in the court ruling that Pacira's U.S. Patent No. 11,033,495 (the '495 patent) is not valid, meaning eVenus is not infringing on it [1]. - The invalidation of the '495 patent raises concerns about the validity of Pacira's other patents, potentially leading to more generic competitors entering the market and increased litigation costs [1]. Stock Performance - Following the announcement of the patent invalidation, Pacira's stock price plummeted from 11.70 per share on August 9, 2024, marking a decline of over 47% in just one day [1]. Shareholder Actions - Shareholders who purchased shares during the class period from August 2, 2023, to August 8, 2024, are encouraged to register for a class action lawsuit, with a deadline for lead plaintiff appointment set for March 14, 2025 [2]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the case's progress [2]. Legal Representation - The Gross Law Firm is leading the class action, emphasizing its commitment to protecting investors' rights against deceitful business practices [3].