Summary of Pacira BioSciences FY Conference Call (January 14, 2026) Company Overview - **Company**: Pacira BioSciences (NasdaqGS:PCRX) - **Mission**: Deliver innovative, non-opioid pain management therapies to transform lives [2][3] - **Sales**: Reported unaudited sales of $726 million for the previous year [2] - **Employees**: Over 800 engaged employees [2] - **Patients Served**: More than 18 million patients helped to date [2] Product Portfolio - **Key Products**: - **Exparel**: Flagship product for nerve block - **Zilretta**: Long-acting corticosteroid for osteoarthritis pain - **Iovera**: Medical device using cryoneurolysis for pain management [3] Strategic Developments - **5x30 Strategy**: Aims to help over 3 million patients by 2030, achieve double-digit top-line growth, expand profitability by five points, add five new programs to the pipeline, and establish five partnerships [6][7] - **Partnerships**: - **Johnson & Johnson MedTech**: Triples reach for Zilretta [9] - **LG Chem**: Gains commercial rights for Exparel in Asia-Pacific, with potential for Zilretta sales [10] - **Intellectual Property**: Strong IP estate with 21 patents, providing robust defense against future Paragraph IV filers [5][12] Financial Performance - **Stock Performance**: 40% increase in stock price from January to December [5] - **Profitability**: Expected margins of 80%-82% for the current year [7] - **Share Buyback**: $150 million worth of stock repurchased, reducing outstanding shares to 41 million [11] Pipeline and Data Catalysts - **Upcoming Data Catalysts**: - **PCRX201**: Local gene therapy with promising phase one results [8][22] - **Iovera Spasticity**: Interim readout expected in the first half of the year [21] - **Zilretta for OA of the Shoulder**: Registrational study readout anticipated [21] Market Access and Growth Strategy - **NOPAIN Legislation**: Aimed at reducing opioid prescriptions; 102 million lives covered by the end of the year [19] - **Market Access**: Over 90% of business contracted, with ongoing efforts to educate stakeholders [20][44] - **Volume Growth**: Notable growth in the second half of the year, with 9% and 7% volume growth in Q3 and Q4 respectively [36] Challenges and Future Outlook - **Behavior Change**: Ongoing efforts to drive behavior change among healthcare professionals regarding non-opioid pain management [31] - **Market Education**: Continued focus on educating physicians and patients about the benefits of non-opioid options [41][43] - **Long-term Potential**: Exploration of additional indications for PCRX201, including potential for repeat dosing and expansion to other joints [33][35] Conclusion - **Overall Sentiment**: The company is optimistic about its growth trajectory, driven by a strong product pipeline, strategic partnerships, and a commitment to transforming pain management [28][30]

Summary of Pacira BioSciences Inc (PCRX) 2025 Conference Company Overview - **Company**: Pacira BioSciences Inc (PCRX) - **Focus**: Non-opioid innovative pain management therapies, primarily through products like EXPAREL, ZILRETTA, and ioverao [4][16] Core Points and Arguments - **Sales Performance**: The company generated over $700 million in sales in 2025, indicating a strong cash flow [4] - **Pipeline Development**: The lead product in the pipeline is PCRX201, aimed at transforming treatment for osteoarthritis of the knee and potentially other joints [5] - **5x30 Strategy**: The company aims to achieve five key objectives by 2030: 1. Help over 3 million patients (currently around 2.4 million) [10] 2. Achieve double-digit growth, moving from historical low single digits [11] 3. Expand margins by at least five percentage points [11] 4. Develop five novel projects by 2030, with PCRX201 as the lead [12] 5. Establish five partnerships for commercialization and development [13] Recent Developments - **Litigation Settlement**: A significant settlement regarding Paragraph IV litigation around EXPAREL provides visibility until 2039, alleviating previous stock overhang concerns [7][18] - **Market Dynamics**: EXPAREL's average daily sales grew by 7% in the first quarter, contrasting with previous low single-digit growth [24] - **Sales Force Reorganization**: Transitioned to three separate sales forces for each product to enhance focus and execution [25] Commercial Strategy - **No Pain Initiative**: The company is seeing early adoption in smaller community settings and ambulatory surgical centers, with expectations for broader uptake in larger health systems [29] - **Reimbursement Dynamics**: Encouraging signs of commercial payer adoption are emerging, with a focus on aligning with CMS reimbursement strategies [32] Pipeline Insights - **PCRX201**: The product shows promising data with 72 patients in Phase 1, demonstrating significant pain relief and durability [36][39] - **Gene Therapy Approach**: The company is exploring gene therapy with a focus on local administration, which may broaden the applicability of gene therapies beyond rare diseases [45] Additional Considerations - **Intellectual Property**: The company holds 19 Orange Book listed patents, enhancing its competitive position [19] - **Future Projects**: There are ongoing discussions about additional projects stemming from the newly acquired GQ Bio platform, emphasizing locally administered therapies [47] Conclusion - Pacira BioSciences is positioned for growth with a robust pipeline and strategic initiatives aimed at expanding its market presence and improving patient outcomes through innovative pain management solutions [48]

Financial Data and Key Metrics Changes - First quarter EXPAREL sales increased to $136.5 million compared to $132.4 million in 2024, driven by volume growth [34] - First quarter non-GAAP gross margin improved to 81% from 72% year-over-year [35] - Adjusted EBITDA for the first quarter was $44.1 million [35] - The company has $494 million in cash and investments, indicating a strong balance sheet [37] Business Line Data and Key Metrics Changes - ZILRETTA sales declined to $23.3 million from $25.8 million in 2024, attributed to the transition to new sales forces [34] - Ioverao sales slightly increased to $5.1 million from $5 million in the first quarter of 2024 [34] - The transition to new sales teams for ZILRETTA and Ioverao is expected to stabilize and improve sales in the upcoming quarters [35] Market Data and Key Metrics Changes - First quarter average daily EXPAREL sales and volumes were up approximately 7% over 2024 after adjusting for two fewer selling days in 2025 [12] - There was a more than 30% increase in both new and reactivated EXPAREL accounts [12] - The company is seeing encouraging early indicators in the adoption of the "no pain" reimbursement pathway for outpatient surgical procedures [11] Company Strategy and Development Direction - The company introduced a "five by 30" strategy aimed at accelerating growth in its commercial business and advancing its innovative pipeline [6] - The settlement of patent litigation for EXPAREL extends exclusivity to 2039, providing a strong foundation for future growth [10] - The company is focusing on becoming a leader in musculoskeletal pain and exploring partnerships for its HCAD platform [32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the early signs of growth and the potential for significant cash flow from EXPAREL [10][22] - The company anticipates a more meaningful uptick in sales in the second half of the year as awareness of the "no pain" initiative grows [40] - Management is closely monitoring potential tariff impacts but does not expect material effects on operations [40] Other Important Information - The company announced a $300 million stock repurchase program, reflecting confidence in its growth outlook [21] - The HCAD platform is expected to unlock new gene therapies for common diseases, aligning with the company's strategic objectives [32] Q&A Session Summary Question: What proportion of patients are covered by Medicare and how does "no pain" apply? - The company indicated that over 50% of inpatient procedures are commercially covered, while outpatient settings skew more towards Medicare [49] Question: What needs to be shown for wide adoption of PCRX201? - Management noted that providing a year or more of benefit compared to the current standard of care would be transformative [50] Question: What are the logistical challenges with "no pain" and how is education progressing? - The company is seeing significant growth in adoption in community hospitals and ambulatory surgery centers, with ongoing education efforts for larger institutions [57] Question: How will capital be allocated post-settlement with Fresenius? - The company plans to invest in its base business to capitalize on "no pain," advance its pipeline, and return capital to shareholders through the buyback program [64] Question: Are there any enhancements for EXPAREL to extend its lifecycle? - The company continues to innovate EXPAREL and has recently listed additional patents, but there are no new plans for additional indications [73] Question: What is the outlook on gross margins and pricing? - The elimination of RDF royalties is expected to improve gross margins, and pricing is anticipated to remain stable with GPO contracts coming online [86] Question: What is the current competitive landscape? - Management stated that there is no significant new competition, and there remains ample room for growth in market penetration [91]

Financial Data and Key Metrics Changes - In Q1 2025, EXPAREL sales increased to $136.5 million from $132.4 million in Q1 2024, driven by volume growth, with average daily sales and volumes up approximately 7% after adjusting for two fewer selling days in 2025 [34] - Non-GAAP gross margin improved to 81% in Q1 2025 compared to 72% in the previous year, benefiting from improved costs and efficiencies in manufacturing [35] - Adjusted EBITDA for Q1 2025 was $44.1 million, indicating strong operational performance [38] Business Line Data and Key Metrics Changes - ZILRETTA sales declined to $23.3 million in Q1 2025 from $25.8 million in Q1 2024, attributed to the transition to new sales forces [34] - Ioverao sales slightly increased to $5.1 million in Q1 2025 from $5.0 million in Q1 2024 [34] Market Data and Key Metrics Changes - The "no pain" reimbursement pathway is expected to cover 18 million outpatient surgical procedures, with approximately 6 million being CMS procedures now covered [12] - Early indicators show a more than 30% increase in both new and reactivated EXPAREL accounts, indicating growing market penetration [13] Company Strategy and Development Direction - The company introduced a "five by 30" strategy aimed at accelerating growth in its commercial business and advancing an innovative pipeline, including PCRX201 [6] - The settlement of patent litigation for EXPAREL extends exclusivity to 2039, providing a strong foundation for future growth [7][10] - The company is focusing on becoming a leader in musculoskeletal pain and exploring partnerships for its HCAD platform [32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the early positive trends in EXPAREL sales and the potential for significant cash flow generation [11] - The company anticipates a meaningful uptick in sales in the second half of the year as awareness of the "no pain" initiative grows [41] Other Important Information - A new stock repurchase program of $300 million was authorized, reflecting the company's commitment to shareholder value [22] - The company is closely monitoring potential tariff impacts but does not expect material effects on operations [42] Q&A Session Summary Question: Coverage of "no pain" for Medicare patients - The company indicated that over 50% of inpatient procedures are commercially covered, while outpatient settings skew more towards Medicare [50] Question: Adoption requirements for PCRX201 - Management noted that providing a year or more of benefit compared to the current standard of care would be transformative for adoption [51] Question: Logistical challenges with "no pain" - The company is seeing significant growth in community hospitals and ambulatory surgical centers, with expectations for larger institutions to follow [58] Question: Capital allocation priorities post-settlement - The company plans to invest in its base business to capitalize on "no pain" while also advancing its innovative pipeline and returning capital to shareholders [65] Question: Enhancements for EXPAREL - The company continues to innovate EXPAREL and has recently listed its eighteenth patent, indicating ongoing development [73] Question: Gross margins and RDF royalty elimination - The elimination of RDF royalties is expected to improve margins, but overall margins will also improve with increased product sales [78] Question: Pricing trends and GPO contracts - Pricing was mostly flat, with expectations for mid-single-digit impacts as GPO contracts come online [85] Question: Surgery volumes and competition - The company reported a nominal decline in surgical room hours in Q1, but does not see significant new competition impacting its market position [92]

Summary of Pacira BioSciences Inc (PCRX) Update / Briefing April 27, 2025 Company Overview - **Company**: Pacira BioSciences Inc (PCRX) - **Focus**: Development of innovative therapies for pain management and degenerative diseases, specifically targeting osteoarthritis Key Points - **Commitment to Change**: The company emphasizes its dedication to creating lasting improvements for patients suffering from pain and degenerative diseases like osteoarthritis [1] - **Clinical Development Plan**: Introduction of PCRX201, an innovative gene therapy aimed at addressing both the underlying causes and symptoms of knee osteoarthritis [1] Additional Important Content - **Target Patient Population**: The focus on osteoarthritis indicates a strategic alignment with a significant patient demographic that experiences chronic pain [1]