Pacira BioSciences Reports Fourth Quarter and Full-Year 2024 Financial Results

Core Insights - Pacira BioSciences reported record revenues of $701 million for the full year 2024, marking a 4$675 million in 2023 [6][14] - The company experienced a full-year GAAP net loss of $99.6 million, which translates to a loss of$2.15 per share, compared to a net income of $42 million in 2023 [10][14] - Adjusted EBITDA for the full year was$223.9 million, a 4% increase from $214.5 million in 2023 [10][14] Financial Performance - Fourth quarter revenues reached$187.3 million, a 3% increase from $181.2 million in Q4 2023 [6][8] - EXPAREL net product sales for 2024 were$549 million, a 2% increase from $538.1 million in 2023 [10][14] - ZILRETTA net product sales increased by 6$118.1 million in 2024, up from $111.1 million in 2023 [10][14] - Total operating expenses for 2024 were$774.3 million, compared to $587.3 million in 2023, which included a goodwill impairment of$163.2 million [10][14] Strategic Initiatives - The company launched a new Five-Year Plan (5x30) aimed at transitioning into an innovative biopharmaceutical organization, with goals to reach over 3 million patients annually and achieve double-digit revenue growth by 2030 [6][8] - In February 2025, Pacira acquired the remaining 81% equity stake in GQ Bio Therapeutics for approximately $32 million to enhance its growth strategy [6][8] - The company appointed Laura Brege as Chair of the Board in January 2025, as part of its commitment to board refreshment [6][8] Product Development and Regulatory Updates - The FDA approved a new iovera° Smart Tip in December 2024 for managing chronic low back pain, expanding the product's application [8] - A new patent for EXPAREL was issued, expected to provide protection until July 2044, supporting long-term exclusivity [8] - Data for PCRX-201 indicated sustained efficacy in treating moderate to severe osteoarthritis of the knee, with a well-tolerated safety profile [8]