Business Growth and Strategy - Pacira is transitioning into an innovative biopharmaceutical organization, aiming to lead in musculoskeletal pain and related areas[6] - The company is focused on accelerating growth in its base business and advancing its pipeline value through strategic partnerships and clinical development[5, 8] - Pacira plans to opportunistically return capital to shareholders, supported by a newly authorized share repurchase program of $300 million[39] EXPAREL - A patent litigation settlement secures EXPAREL's exclusivity until 2039, setting the stage for long-term growth[9, 10, 11] - In 1Q25, EXPAREL average daily sales (ADS) increased by approximately 7% year-over-year[15] - A favorable court ruling eliminates RDF royalty obligation, benefiting EXPAREL gross margins by a low-single-digit percentage[9] Pipeline Development - The acquisition of GQ Bio added a novel platform, preclinical portfolio, and R&D talent[9] - Patient dosing is underway in the Phase 2 ASCEND study of PCRX-201 for knee osteoarthritis (OA)[9] - Phase 3 shoulder OA study progressing for ZILRETTA with topline results expected in 2026[16] Financial Performance and Guidance - Total revenue for 1Q25 was $169 million[40] - Non-GAAP gross margins for 1Q25 reached 81%[40] - Adjusted EBITDA for 1Q25 was $44 million[40] - The company reiterated its 2025 financial guidance, projecting total revenue between $725 million and $765 million and non-GAAP gross margins between 76% and 78%[40]