Pacira Biosciences Inc. PCRX
Revenue accelerating Cash flow inflection strategy: Divestiture strategy: New market
The new quarter, monitored by AI. · We follow every stock through its original filings: the latest figures against their history, guidance against actuals; neutral, continuously updated, every figure clickable with its source.
AI-generated report · not investment advice · figures extracted automatically; please verify against the linked original more
AI-generatedCreated with AI assistance from the company's linked original filings (transparency per Art. 50 EU AI Act). More about the tool: Claude Code.
Not investment adviceNeutral financial information, no recommendation, no investment research within the meaning of MiFID II.
Verify yourselfFigures are extracted automatically, errors are possible. Every figure is clickable with its source; the issuer's original documents are always authoritative.
EditorialThe texts (business model, current status, development and others) are written AI-editorially from the original reports alone, cross-checked automatically and backed with sources; the company's own account, no assessment of our own. Methodology
AI research · This page works as a source-backed data basis for further research with AI assistants such as Claude; every figure remains verifiable via the source links.
Advertisement
Business Model#
What the company does and how it earns its money; written AI-editorially, exclusively from the company's original reports, without any assessment of our own.
Pacira BioSciences is a specialty pharmaceutical company focused on non-opioid pain management and regenerative medicine for patients in surgical, interventional, and musculoskeletal care settings. Revenue is generated primarily through the sale of two commercial products: EXPAREL (bupivacaine liposome injectable suspension), a long-acting postsurgical local analgesic administered across a broad range of surgical procedures and representing the largest share of net product sales; and ZILRETTA (triamcinolone acetonide extended-release injectable suspension), indicated for osteoarthritis knee pain and under Phase 3 evaluation for shoulder osteoarthritis. Products are sold to hospitals, ambulatory surgical centers, and specialty distributors, with commercial uptake dependent on payer reimbursement coverage and physician adoption. The company also licenses EXPAREL for commercialization in select Asian-Pacific markets through LG Chem and is advancing PCRX-201, an HCAd-based gene therapy candidate for osteoarthritis, through Phase 2 clinical trials.
Advertisement
Current Status#
Summary of the most recent reporting period: core figures, drivers and management statements; written editorially from the current original report, every figure backed by a source number.
Pacira BioSciences reported second-quarter 2026 total revenue of $192.4 million, representing 6% year-over-year growth, with EXPAREL net product sales of $147.8 million (up 3%), ZILRETTA sales of $32.6 million (up 4%), and iovera° sales of $6.8 million (up 22%) 34. GAAP net income was $4.7 million ($0.12 per diluted share), compared to a net loss of $4.8 million ($0.11 per share) in the prior-year quarter 34. The company divested its iovera° cryoanalgesia device business to Zimmer Biomet in July 2026 and, also in July 2026, UnitedHealthcare began providing separate reimbursement for EXPAREL across outpatient settings, both developments disclosed alongside the quarterly results 33 34.
Management commentary on the 2026-Q2 results (8-K-EX99.1, 2026-08-04):
„The first half of 2026 was marked by solid revenue growth and strong execution of our 5x30 strategy across the business. Just 18 months into the initiative, we are delivering meaningful progress against each of our strategic objectives to drive long-term growth and create significant value. The quarter was also highlighted by our recently closed transaction with Zimmer Biomet, which positions iovera° to reach its full global potential while preserving Pacira's participation in its future success and further sharpening our focus as an innovation-driven biopharmaceutical company.“ – Frank D. Lee, chief executive officer 34
Revenue · 2026-Q2192$m+6.2 % vs. 2025-Q2
Net profit · 2026-Q25$m+197.9 % vs. 2025-Q2
EPS · 2026-Q20.12$+209.1 % vs. 2025-Q2
Revenue trend
Guidance
For FY2030, the company guides Gross margin (GAAP) to Five percentage point gross margin improvement over 2024 (initiated). 19.
ProfitabilityGAAP operating income was $4.3 million in 2026-Q2, with free cash flow of $56.1 million derived from operating cash flow of $57.5 million less capital expenditures of $1.3 million. A discrete tax benefit of $6.4 million was recorded from the reversal of the UK operating subsidiary's valuation allowance based on improved realizability of deferred tax assets 33. Non-GAAP net income was $29.5 million ($0.73 per diluted share), compared to $36.0 million ($0.74 per diluted share) in the prior-year quarter 34.
LeverageCash at quarter end was $205.9 million with net debt of $157.2 million. Operating cash flow for the six months ended June 2026 improved to $83.1 million from $47.5 million in the prior-year period, primarily reflecting inventory initiative timing in the prior year and proceeds from investment sales 33. Upfront proceeds from the iovera° divestiture, received on July 31, 2026, were not reflected in the quarter-end balance sheet and are expected to reduce net debt in the subsequent period 34.
Management viewPCRX-201, the company's HCAd-based gene therapy candidate for osteoarthritis, completed Part A enrollment in the Phase 2 ASCEND study with topline data expected by year-end 2026, following a successful transition to a U.S.-based scalable commercial manufacturing process in July 2026 33. ZILRETTA completed enrollment in its Phase 3 shoulder osteoarthritis trial in April 2026, with topline data pending to support a potential label expansion 33. An exclusive EXPAREL commercialization agreement with LG Chem for select Asian-Pacific markets, entered in January 2026, remains on track with revenue contributions expected beginning in 2027 33.
ChangeGross margin was 77% for the three-month period, flat year-over-year, but declined one percentage point to 78% on a six-month basis due to higher EXPAREL product costs from lower production volumes, partially offset by fewer inventory reserves 33. R&D expense increased 7% in the quarter as higher investment in the HCAd gene therapy platform more than offset lower clinical trial costs following the completion of multiple enrollment periods; SG&A expense increased 4%, driven by expanded market access, reimbursement teams, and increased business development headcount 33. The iovera° product line will no longer contribute revenue following the completion of the divestiture in July 2026 33.
Risks (current)Two Chinese generic manufacturers (WhiteOak and Qilu) filed ANDA applications for generic EXPAREL; the company filed a patent infringement suit in November 2025 to defend its intellectual property, and the outcome of that litigation is uncertain 33. The U.S. government imposed 15% tariffs on certain pharmaceutical products and APIs imported from the EU, Japan, South Korea, Switzerland, and Liechtenstein, and a 10% tariff on UK imports, with the company expecting a negative impact on gross margins 33. PCRX-201 development carries clinical, regulatory, and manufacturing validation risks following the recent process transition; revenue-based milestone payments from the Zimmer Biomet transaction through 2031 are contingent on Zimmer's commercialization performance with no assurance of achievement 33.
New this reporting periodThe iovera° divestiture to Zimmer Biomet was completed on July 31, 2026, with an upfront payment of $70 million and potential revenue-based milestone payments up to $70 million through December 31, 2031 34. UnitedHealthcare began providing separate reimbursement for EXPAREL across outpatient settings in July 2026, enabling coverage outside the surgical bundle for approximately 150 million covered lives in the U.S. 33. PCRX-201 manufacturing was successfully transitioned to a U.S.-based scalable commercial process in July 2026, with Part B enrollment in the Phase 2 ASCEND study underway 34.
Advertisement
Price & Chart#
Interactive price chart (TradingView) and the trend of key figures from the core tables. The price chart loads only after a click; at that point a connection to TradingView is established.
Daily candles with news and earnings markers. Loads only on click.
Advertisement · affiliate links; we may earn a commissionAffiliate partnerships help us keep these reports free and regularly updated.
Advertisement
Share-Price Drivers#
Factors the company itself names as material for its business development (IR-based); reproduced neutrally, no price forecast and no assessment of our own.
EXPAREL commercial trajectory and reimbursement
EXPAREL is by far the largest revenue contributor and drives the group's ~USD 192.4m quarterly top line; a UnitedHealthcare separate-reimbursement approval took effect in July 2026, while growth is decelerating and guidance was cut (33)
EXPAREL is by far the largest revenue contributor and drives the group's ~USD 192.4m quarterly top line; a UnitedHealthcare separate-reimbursement approval took effect in July 2026, while growth is decelerating and guidance was cut (33)
EXPAREL demand and payer reimbursement
EXPAREL revenue was broadly flat (about +5.9% in the reported quarter) and remains the core franchise; UnitedHealthcare approved separate reimbursement for EXPAREL in July 2026, supporting access, though the change flag shows decelerating growth and a guidance cut (27, 33)
EXPAREL revenue was broadly flat (about +5.9% in the reported quarter) and remains the core franchise; UnitedHealthcare approved separate reimbursement for EXPAREL in July 2026, supporting access, though the change flag shows decelerating growth and a guidance cut (27, 33)
PCRX-201 gene-therapy pipeline (knee osteoarthritis)
Phase 2 ASCEND Part A topline data are expected around year-end 2026 and Part B initiation is planned for H2 2026, with manufacturing transitioned to a U.S.-based commercial process; outcome not yet known (33, 29)
Phase 2 ASCEND Part A topline data are expected around year-end 2026 and Part B initiation is planned for H2 2026, with manufacturing transitioned to a U.S.-based commercial process; outcome not yet known (33, 29)
iovera° franchise
iovera° revenue grew about 14.3%, the fastest of the three products, with a chronic low-back-pain Smart Tip launched and a spasticity indication trial planned (27, 31, 29)
iovera° revenue grew about 14.3%, the fastest of the three products, with a chronic low-back-pain Smart Tip launched and a spasticity indication trial planned (27, 31, 29)
ZILRETTA and label expansion
ZILRETTA revenue grew about 2.1%; a Phase 3 shoulder osteoarthritis study completed enrollment in April 2026, a potential future indication expansion (27, 33)
ZILRETTA revenue grew about 2.1%; a Phase 3 shoulder osteoarthritis study completed enrollment in April 2026, a potential future indication expansion (27, 33)
Ex-U.S. expansion via LG Chem partnership
A January 2026 LG Chem partnership targets EXPAREL commercialization in Asian-Pacific markets, with marketing-authorization filings planned for South Korea and Thailand (33, 29)
A January 2026 LG Chem partnership targets EXPAREL commercialization in Asian-Pacific markets, with marketing-authorization filings planned for South Korea and Thailand (33, 29)
Generic bupivacaine-liposome competition
Generic bupivacaine liposome entry is anticipated around 2030, a longer-dated risk to the EXPAREL franchise (29)
Generic bupivacaine liposome entry is anticipated around 2030, a longer-dated risk to the EXPAREL franchise (29)
Sector trend: Group revenue is rising sequentially to USD 192.4m in 2026-Q2 with operating profitability turning positive, but the change flags show decelerating growth and a cut to guidance (33). Demand skews toward the smaller, faster-growing iovera° and ZILRETTA franchises while the core EXPAREL business is broadly flat and increasingly dependent on payer reimbursement and pipeline readouts (27, 33).
Advertisement
Event Timeline#
This timeline collects the material events from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements. Events are grouped by quarter (most recent first); the grey tag before each event names the event type, the date is the publication date of the source. Management quotes open the quarter block as direct quotes. Per quarter we show the three most defining events; more can be expanded per quarter, older years are collapsed. Every event carries its source as a superscript, clickable number.
Overview: one dot per event · click jumps to the period
2026 · 8 events
2026-Q2 · Apr – Jun 2026
„The first half of 2026 was marked by solid revenue growth and strong execution of our 5x30 strategy across the business. Just 18 months into the initiative, we are delivering meaningful progress against each of our strategic objectives to drive long-term growth and create significant value. The quarter was also highlighted by our recently closed transaction with Zimmer Biomet, which positions iovera° to reach its full global potential while preserving Pacira's participation in its future success and further sharpening our focus as an innovation-driven biopharmaceutical company.“ – Frank D. Lee, chief executive officer 34
Revenue accelerating 2026-08-04
Q2 total revenue $192.4M +6% YoY; EXPAREL $147.8M +3%, ZILRETTA $32.6M +4%, iovera° $6.8M +22% 34
Q2 total revenue $192.4M +6% YoY; EXPAREL $147.8M +3%, ZILRETTA $32.6M +4%, iovera° $6.8M +22% 34
Divestiture 2026-08-04
Divestiture of iovera° business to Zimmer Biomet completed July 2026 for upfront cash consideration plus milestone payments up to $70M through 2031 33 34
Divestiture of iovera° business to Zimmer Biomet completed July 2026 for upfront cash consideration plus milestone payments up to $70M through 2031 33 34
New market 2026-08-04
UnitedHealthcare began providing separate reimbursement for EXPAREL across outpatient settings, expanding coverage to approximately 150 million lives 33
UnitedHealthcare began providing separate reimbursement for EXPAREL across outpatient settings, expanding coverage to approximately 150 million lives 33
Cash flow inflection 2026-08-04
Operating cash flow reached 57.5 USDm vs 12.0 USDm in 2025-Q2 (×4.8). 33
Operating cash flow reached 57.5 USDm vs 12.0 USDm in 2025-Q2 (×4.8). 33
2026-Q1 · Jan – Mar 2026
„Pacira entered 2026 with strong momentum as our 5x30 strategy continues to generate clear and measurable results. In the first quarter, we delivered solid topline performance, highlighted by renewed growth across our commercial portfolio. This performance is fueled by a powerful combination of expanding market access, growing awareness and adoption, and mounting real world evidence, all of which are reinforcing each other.“ – Frank D. Lee, Chief Executive Officer 32
revenue 2026-04-30
Total revenue $177.4M +5% YoY; EXPAREL +5% (gross vial volume +7%), ZILRETTA +15%, iovera° +21% in Q1 2026 31 32
Total revenue $177.4M +5% YoY; EXPAREL +5% (gross vial volume +7%), ZILRETTA +15%, iovera° +21% in Q1 2026 31 32
Guidance confirmed 2026-04-30
Full-year 2026 guidance reiterated: EXPAREL net product sales $600-620M, total revenues $745-770M 32
Full-year 2026 guidance reiterated: EXPAREL net product sales $600-620M, total revenues $745-770M 32
New market 2026-04-30
PCRX-201 received RMAT designation from FDA and ATMP designation from EMA, supporting expedited development pathway for gene therapy program 31
PCRX-201 received RMAT designation from FDA and ATMP designation from EMA, supporting expedited development pathway for gene therapy program 31
Operating income doubled 2026-04-30
Operating income more than doubled YoY (2.0 to 6.9 USDm, +245%). 31
Operating income more than doubled YoY (2.0 to 6.9 USDm, +245%). 31
2025 · 18 events
FY2025 · Jan – Dec 2025
Operating income turned positive 2026-02-26
Operating income turned positive for the first time after 1 negative fiscal year (-73.4 to +19.2 USDm). 30
Operating income turned positive for the first time after 1 negative fiscal year (-73.4 to +19.2 USDm). 30
Net income turned positive 2026-02-26
Net income turned positive for the first time after 1 negative fiscal year (-99.6 to +7.0 USDm). 30
Net income turned positive for the first time after 1 negative fiscal year (-99.6 to +7.0 USDm). 30
2025-Q4 · Oct – Dec 2025
„2025 was a year of disciplined execution for Pacira. With the launch of our 5x30 strategy, we reignited momentum across the business and delivered strong, measurable progress. Our products benefitted more than 2.5 million patients, generated $726 million in revenue, and achieved the highest gross margins in our company's history. Together, these results clearly validate the impact and promise of our 5x30 strategy.“ – Frank D. Lee, Chief Executive Officer 30
„We closed 2025 having achieved another year of solid execution and meaningful progress advancing our 5x30 strategic priorities, leaving us well-positioned for sustainable, long-term success. Strong EXPAREL volume growth in the second half of the year underscores the value of our commercial investments and positions us for significant and sustainable revenues moving forward. We enter 2026 with momentum that provides us with a strong foundation and clear line of sight to further operational progress and an exciting chapter of growth ahead.“ – Frank D. Lee, Chief Executive Officer 28
earnings 2026-02-26
Full-year GAAP net income of $7.0 million vs. net loss of $99.6 million in 2024; prior-year loss reflected $163.2 million goodwill impairment from FDA approval of a generic EXPAREL competitor and a patent invalidation ruling, not operational deterioration 29
Full-year GAAP net income of $7.0 million vs. net loss of $99.6 million in 2024; prior-year loss reflected $163.2 million goodwill impairment from FDA approval of a generic EXPAREL competitor and a patent invalidation ruling, not operational deterioration 29
Margin expanding 2026-02-26
Full-year 2025 gross margin reached 79%, described as the highest level in the company's history, driven by manufacturing efficiencies and lower EXPAREL inventory reserves 30
Full-year 2025 gross margin reached 79%, described as the highest level in the company's history, driven by manufacturing efficiencies and lower EXPAREL inventory reserves 30
Operating income halved 2026-02-26
Operating income more than halved YoY (24.7 to 2.3 USDm, -91%). 130
Operating income more than halved YoY (24.7 to 2.3 USDm, -91%). 130
revenue 2026-01-08
Q4 EXPAREL net product sales reached $155.8 million with 7% volume growth, the strongest quarterly performance in three years 28
Q4 EXPAREL net product sales reached $155.8 million with 7% volume growth, the strongest quarterly performance in three years 28
2025-Q3 · Jul – Sep 2025
„Pacira delivered another quarter of strong execution across our corporate, clinical, and commercial initiatives, underscoring the momentum behind our 5x30 growth strategy. With accelerating topline growth, expanding market access, and meaningful pipeline advancements, including the in-licensing of AMT-143, we believe we are well positioned to expand our leadership in musculoskeletal pain and adjacencies. I'm proud of our team's continued focus and discipline, which are driving innovation, improving patient outcomes, and creating long-term value for our shareholders.“ – Frank D. Lee, Chief Executive Officer 27
earnings 2025-11-06
$25.9 million in-process R&D impairment recognized for ZILRETTA shoulder indication due to revised clinical trial completion timelines and reduced fair value estimate 26
$25.9 million in-process R&D impairment recognized for ZILRETTA shoulder indication due to revised clinical trial completion timelines and reduced fair value estimate 26
Guidance cut 2025-11-06
Full-year 2025 total revenue guidance narrowed to $725-735 million from prior guidance of $730-750 million 27
Full-year 2025 total revenue guidance narrowed to $725-735 million from prior guidance of $730-750 million 27
New market 2025-11-06
Entered exclusive worldwide license agreement with AmacaThera for PCRX-2002 (AMT-143), a long-acting ropivacaine formulation for postsurgical pain, with $5.0 million upfront payment and development and sales-based milestones 27
Entered exclusive worldwide license agreement with AmacaThera for PCRX-2002 (AMT-143), a long-acting ropivacaine formulation for postsurgical pain, with $5.0 million upfront payment and development and sales-based milestones 27
2025-Q2 · Apr – Jun 2025
„Throughout the second quarter, we continued to make important progress advancing our 5x30 growth strategy to accelerate topline growth and fuel our transition into an innovative biopharmaceutical organization. We continue to focus on driving broad market adoption for EXPAREL. We are seeing encouraging momentum from leading indicators reinforcing our belief that EXPAREL is poised for sustainable growth and expanded market leadership.“ – Frank D. Lee, Chief Executive Officer 25
Margin expanding 2025-08-05
Non-GAAP gross margin improved to 82% in Q2 2025 from 76% in Q2 2024, driven by transition to large-scale manufacturing efficiencies and lower EXPAREL inventory reserves 25
Non-GAAP gross margin improved to 82% in Q2 2025 from 76% in Q2 2024, driven by transition to large-scale manufacturing efficiencies and lower EXPAREL inventory reserves 25
Guidance raised 2025-08-05
Full-year 2025 non-GAAP gross margin guidance raised to 78-80% from prior guidance of 76-78%, reflecting manufacturing efficiency gains 25
Full-year 2025 non-GAAP gross margin guidance raised to 78-80% from prior guidance of 76-78%, reflecting manufacturing efficiency gains 25
Strategic pivot 2025-08-05
Entered strategic co-promotion collaboration with Johnson & Johnson MedTech to expand ZILRETTA market reach to existing and new customers in the U.S. 24
Entered strategic co-promotion collaboration with Johnson & Johnson MedTech to expand ZILRETTA market reach to existing and new customers in the U.S. 24
Operating income halved 2025-08-05
Operating income more than halved YoY (28.2 to 8.5 USDm, -70%). 24
Operating income more than halved YoY (28.2 to 8.5 USDm, -70%). 24
2025-Q1 · Jan – Mar 2025
„Our confidence in Pacira's future remains steadfast and the recently announced $300 million stock buyback program underscores our belief in our team, products, and long-term growth outlook.“ – Frank D. Lee, chief executive officer 23
Margin expanding 2025-05-08
U.S. District Court ruled that royalties previously paid to Research Development Foundation on EXPAREL are no longer owed, eliminating low single-digit royalty payments and improving gross margin going forward 22
U.S. District Court ruled that royalties previously paid to Research Development Foundation on EXPAREL are no longer owed, eliminating low single-digit royalty payments and improving gross margin going forward 22
Strategic pivot 2025-05-08
Settled EXPAREL patent infringement suits with Fresenius Kabi USA, eVenus Pharmaceuticals, and Jiangsu Hengrui Pharmaceuticals; volume-limited generic bupivacaine liposome entry permitted beginning early 2030, with unlimited generic entry from 2039 22
Settled EXPAREL patent infringement suits with Fresenius Kabi USA, eVenus Pharmaceuticals, and Jiangsu Hengrui Pharmaceuticals; volume-limited generic bupivacaine liposome entry permitted beginning early 2030, with unlimited generic entry from 2039 22
Acquisition 2025-05-08
Acquired remaining 81% equity interest in GQ Bio Therapeutics GmbH for $30.3 million, consolidating the HCAd high-capacity adenovirus gene therapy vector platform and the PCRX-201 pipeline 22
Acquired remaining 81% equity interest in GQ Bio Therapeutics GmbH for $30.3 million, consolidating the HCAd high-capacity adenovirus gene therapy vector platform and the PCRX-201 pipeline 22
Operating income halved 2025-05-08
Operating income more than halved YoY (13.2 to 2.0 USDm, -85%). 22
Operating income more than halved YoY (13.2 to 2.0 USDm, -85%). 22
2024 · 16 events
2024-Q4 · Oct – Dec 2024
„Pacira enters 2025 with a sharp focus on executing our 5x30 strategy to accelerate our transition into an innovative biopharmaceutical organization and therapeutic area leader in musculoskeletal pain and adjacencies. The new year is off to a strong start, highlighted by the recent implementation of NOPAIN, which we believe will drive greater utilization of EXPAREL and iovera° by significantly expanding patient access in outpatient settings. We are confident in our ability to drive growth in our base business and advance a novel pipeline of potentially transformative assets, like PCRX-201.“ – Frank D. Lee, chief executive officer 21
„We enter 2025 with a sharp focus on growth, operational excellence and a clear mission to deliver innovative, non-opioid pain therapies to transform the lives of patients. Looking ahead, I am energized to lead Pacira during this exciting new chapter as we advance our 5x30 plan to address unmet patient needs in musculoskeletal pain and adjacencies. With a best-in-class commercial portfolio that is producing significant cash flow, we believe we are well equipped to extend our leadership in non-opioid pain management and transform Pacira into an innovative biopharmaceutical organization with a robust pipeline to support sustainable growth and enhanced value creation.“ – Frank D. Lee, Chief Executive Officer 19
Margin expanding 2025-02-27
Full-year gross margin improved to 76% from 73% in 2023; full-year adjusted EBITDA increased 4% to $223.9 million from $214.5 million in 2023 21
Full-year gross margin improved to 76% from 73% in 2023; full-year adjusted EBITDA increased 4% to $223.9 million from $214.5 million in 2023 21
revenue 2025-01-10
Full-year 2024 revenues reached $701.0 million, up 4% from $675.0 million in 2023; EXPAREL $549.0 million, ZILRETTA $118.1 million, iovera° $22.8 million, with average daily EXPAREL volume growth of 4% 19
Full-year 2024 revenues reached $701.0 million, up 4% from $675.0 million in 2023; EXPAREL $549.0 million, ZILRETTA $118.1 million, iovera° $22.8 million, with average daily EXPAREL volume growth of 4% 19
Strategic pivot 2025-01-10
Announced five-year 5x30 strategic plan targeting more than three million patients treated per year, double-digit revenue CAGR, five percentage point gross margin improvement, five novel pipeline programs, and five partnerships by 2030 19
Announced five-year 5x30 strategic plan targeting more than three million patients treated per year, double-digit revenue CAGR, five percentage point gross margin improvement, five novel pipeline programs, and five partnerships by 2030 19
2024-Q3 · Jul – Sep 2024
„The work we have completed this year positions us to enter 2025 from a new place of focus, commitment, and strategic strength. We are confident the investments we are making will support and expand our leadership in non-opioid pain management and ensure we are positioned for sustainable success.“ – Frank D. Lee, Chief Executive Officer 18
Net income turned negative 2024-11-06
GAAP net loss of $143.5 million in Q3 2024 including $163.2 million goodwill impairment; impairment triggered by FDA approval of generic EXPAREL competitor in July 2024 and U.S. District Court patent invalidity ruling in August 2024 18
GAAP net loss of $143.5 million in Q3 2024 including $163.2 million goodwill impairment; impairment triggered by FDA approval of generic EXPAREL competitor in July 2024 and U.S. District Court patent invalidity ruling in August 2024 18
Strategic pivot 2024-11-06
FDA approved generic competitor to EXPAREL in July 2024; U.S. District Court ruled EXPAREL U.S. Patent No. 11,033,495 invalid on grounds of obviousness and anticipation in August 2024; notice of appeal filed September 2024 17
FDA approved generic competitor to EXPAREL in July 2024; U.S. District Court ruled EXPAREL U.S. Patent No. 11,033,495 invalid on grounds of obviousness and anticipation in August 2024; notice of appeal filed September 2024 17
New market 2024-11-06
CMS confirmed EXPAREL and iovera° qualify as eligible non-opioid products under NOPAIN Act with separate Medicare reimbursement beginning January 1, 2025; permanent J-code (J0666) established for EXPAREL 18
CMS confirmed EXPAREL and iovera° qualify as eligible non-opioid products under NOPAIN Act with separate Medicare reimbursement beginning January 1, 2025; permanent J-code (J0666) established for EXPAREL 18
2024-Q2 · Apr – Jun 2024
„Looking ahead to the back half of the year, we remain sharply focused on preparations to maximize the benefit of separate EXPAREL reimbursement for outpatient procedures with the implementation of NOPAIN in January 2025.“ – Frank D. Lee, Chief Executive Officer 16
Revenue accelerating 2024-07-30
Total revenues increased to $178.0 million from $169.5 million in Q2 2023; iovera° net product sales grew 29% to $5.7 million driven by Smart Tip volume 16
Total revenues increased to $178.0 million from $169.5 million in Q2 2023; iovera° net product sales grew 29% to $5.7 million driven by Smart Tip volume 16
Margin expanding 2024-07-30
Gross margin expanded 3 percentage points in Q2 2024 versus Q2 2023, primarily due to lower EXPAREL product cost and lower royalty expense following August 2023 court ruling 15
Gross margin expanded 3 percentage points in Q2 2024 versus Q2 2023, primarily due to lower EXPAREL product cost and lower royalty expense following August 2023 court ruling 15
New market 2024-07-30
CMS proposed separate Medicare reimbursement for EXPAREL at ASP plus 6% in ambulatory surgical center and hospital outpatient settings under NOPAIN Act, effective January 1, 2025 15
CMS proposed separate Medicare reimbursement for EXPAREL at ASP plus 6% in ambulatory surgical center and hospital outpatient settings under NOPAIN Act, effective January 1, 2025 15
Net cash build 2024-07-30
Net cash position expanded to 137.3 USDm from 62.9 USDm in 2024-Q1 (+118%, derived from reported financial debt minus cash). 15
Net cash position expanded to 137.3 USDm from 62.9 USDm in 2024-Q1 (+118%, derived from reported financial debt minus cash). 15
2024-Q1 · Jan – Mar 2024
„Our confidence in Pacira's future remains steadfast and the $150 million stock buyback announced today underscores our belief in our team, products, and growth outlook.“ – Frank D. Lee, Chief Executive Officer 14
earnings 2024-05-07
Q1 GAAP net income of $9.0 million versus net loss of $19.5 million in Q1 2023 14
Q1 GAAP net income of $9.0 million versus net loss of $19.5 million in Q1 2023 14
Strategic pivot 2024-05-07
Restructuring plan initiated in February 2024 to reshape executive team, reallocate resources from ex-U.S. and early-stage programs to U.S. commercial portfolio, and reprioritize investments for NOPAIN Act implementation 14
Restructuring plan initiated in February 2024 to reshape executive team, reallocate resources from ex-U.S. and early-stage programs to U.S. commercial portfolio, and reprioritize investments for NOPAIN Act implementation 14
New market 2024-05-07
PCRX-201 granted FDA Regenerative Medicine Advanced Therapy designation in March 2024, first gene therapy candidate for osteoarthritis to receive RMAT designation 14
PCRX-201 granted FDA Regenerative Medicine Advanced Therapy designation in March 2024, first gene therapy candidate for osteoarthritis to receive RMAT designation 14
Cash flow inflection 2024-05-07
Operating cash flow reached 49.1 USDm vs 19.1 USDm in 2023-Q1 (×2.6). 13
Operating cash flow reached 49.1 USDm vs 19.1 USDm in 2023-Q1 (×2.6). 13
2023 · 12 events
2023-Q4 · Oct – Dec 2023
„Now that I have spent several weeks working with the Pacira team, I am even more enthusiastic to lead this great company as we build upon an impressive foundation of success. Looking ahead, we are sharply focused on driving long-term growth, furthering our patient centric culture and establishing high standards for operational excellence. Throughout 2024, we plan to advance the launch of EXPAREL in two key lower extremity nerve blocks and prepare for the significant catalyst ahead in NOPAIN. In parallel, we are taking the necessary steps to reallocate our efforts and resources to ensure the organization is best positioned for sustainable success. We have the people, the purpose, and the products to change the course of pain management and, hopefully, to help save patients from the deadly effects of opioid addiction.“ – Frank D. Lee, Chief Executive Officer 12
Strategic pivot 2024-02-29
Frank D. Lee succeeded David Stack as Chief Executive Officer effective January 2, 2024, completing the CEO transition initiated with Stack's retirement announcement in Q3 2023 11
Frank D. Lee succeeded David Stack as Chief Executive Officer effective January 2, 2024, completing the CEO transition initiated with Stack's retirement announcement in Q3 2023 11
New market 2024-02-29
FDA approved sNDA expanding EXPAREL label to include adductor canal block and sciatic nerve block in the popliteal fossa in adults, based on two Phase 3 studies showing statistically significant reductions in cumulative pain scores and opioid consumption 11
FDA approved sNDA expanding EXPAREL label to include adductor canal block and sciatic nerve block in the popliteal fossa in adults, based on two Phase 3 studies showing statistically significant reductions in cumulative pain scores and opioid consumption 11
2023-Q3 · Jul – Sep 2023
„Pacira continues to operate from a position of financial strength with substantial revenues, improving gross margins, and ongoing operating discipline, which have resulted in significantly positive adjusted EBITDA of $53 million for the third quarter. Our strong and durable cash flows, fueled by EXPAREL exclusivity through 2041, leave us well positioned to self-fund our growth and deliver multiple value-creating milestones in the coming year including the anticipated launch of EXPAREL in two key lower extremity nerve blocks. Looking ahead, we will continue to actively manage operating expenses while deploying capital in a manner we believe will maximize shareholder return and unlock the significant untapped potential within our best-in-class opioid-sparing commercial portfolio.“ – Dave Stack, Chairman and Chief Executive Officer 9
earnings 2023-11-02
Q3 2023 GAAP net income of $10.9 million ($0.23 per share) compared to a net loss of $0.7 million ($0.02 per share) in Q3 2022 9
Q3 2023 GAAP net income of $10.9 million ($0.23 per share) compared to a net loss of $0.7 million ($0.02 per share) in Q3 2022 9
Guidance cut 2023-11-02
Full-year EXPAREL guidance cut a second time to $535-540 million from $550-560 million, reflecting continued 340B pricing headwinds on net selling price 9
Full-year EXPAREL guidance cut a second time to $535-540 million from $550-560 million, reflecting continued 340B pricing headwinds on net selling price 9
Strategic pivot 2023-11-02
CEO David Stack announced intention to retire upon appointment of a successor; four new independent directors appointed to the Board in October 2023 9
CEO David Stack announced intention to retire upon appointment of a successor; four new independent directors appointed to the Board in October 2023 9
2023-Q2 · Apr – Jun 2023
„We were pleased to see EXPAREL year-over-year growth rates improve as the quarter progressed, with a meaningful uptick in June. Solid year-over-year growth continued in July, leaving us optimistic for a stronger second half of the year given improving market conditions and rising demand for joint replacements and other elective surgeries. We also expect to benefit from several ongoing growth initiatives in the second half of 2023, such as continued volume expansion for existing and new 340B customers, as well as new initiatives with oral and maxillofacial surgeons, Plastics, Outpatient, and Sports Management.“ – Dave Stack, Chairman and Chief Executive Officer 7
Revenue decelerating 2023-08-02
EXPAREL net product sales declined 1% to $135.1 million in Q2 2023, as 4% volume growth was more than offset by lower net selling price from 340B Drug Pricing Program implementation 6
EXPAREL net product sales declined 1% to $135.1 million in Q2 2023, as 4% volume growth was more than offset by lower net selling price from 340B Drug Pricing Program implementation 6
Guidance cut 2023-08-02
Full-year EXPAREL guidance lowered to $550-560 million from $570-580 million; ZILRETTA guidance reduced to $110-115 million from $115-125 million; non-GAAP gross margin guidance revised to 73%-74% from 76%-78% 7
Full-year EXPAREL guidance lowered to $550-560 million from $570-580 million; ZILRETTA guidance reduced to $110-115 million from $115-125 million; non-GAAP gross margin guidance revised to 73%-74% from 76%-78% 7
Operating income turned positive 2023-08-02
Operating income turned positive for the first time after 2 negative periods (-3.1 to +39.9 USDm). 6
Operating income turned positive for the first time after 2 negative periods (-3.1 to +39.9 USDm). 6
Net income turned positive 2023-08-02
Net income turned positive for the first time after 3 negative periods (-19.5 to +25.8 USDm). 6
Net income turned positive for the first time after 3 negative periods (-19.5 to +25.8 USDm). 6
2023-Q1 · Jan – Mar 2023
„2023 is off to a positive start as EXPAREL continues to outperform the elective surgery market with expanding utilization across key target markets and all sites of care. The rollout of our 340B pricing program has performed according to plan with volumes expanding within both existing and naïve business. For ZILRETTA and iovera°, our full field-based team is broadening awareness and we are seeing a significant increase in first-time customers for these complementary and standalone non-opioid solutions for managing osteoarthritis pain.“ – Dave Stack, Chairman and Chief Executive Officer 5
earnings 2023-05-03
Q1 2023 GAAP net loss of $19.5 million ($0.43 per share) vs net income of $6.8 million in Q1 2022, reflecting higher SG&A investment and gross margin compression from EXPAREL inventory reserves and 340B discounting 5
Q1 2023 GAAP net loss of $19.5 million ($0.43 per share) vs net income of $6.8 million in Q1 2022, reflecting higher SG&A investment and gross margin compression from EXPAREL inventory reserves and 340B discounting 5
Margin compressing 2023-05-03
Gross margin fell 8 percentage points to 69% in Q1 2023 from 77% in Q1 2022, driven by EXPAREL inventory reserves, higher product costs, and increased 340B discounting 4
Gross margin fell 8 percentage points to 69% in Q1 2023 from 77% in Q1 2022, driven by EXPAREL inventory reserves, higher product costs, and increased 340B discounting 4
New market 2023-05-03
FDA accepted sNDA seeking EXPAREL label expansion for adductor canal block and sciatic nerve block in the popliteal fossa in adults, with PDUFA action date of November 13, 2023 5
FDA accepted sNDA seeking EXPAREL label expansion for adductor canal block and sciatic nerve block in the popliteal fossa in adults, with PDUFA action date of November 13, 2023 5
Advertisement
Key Figures ($m)#
The company's core financial figures in three views, one below the other: fiscal years (as reported; after restatements the table shows the most recent filing version, marked), half-years (6-month basis, H2 = second half on its own) and quarters (3-month basis, not cumulative). Each row is one period, most recent first. Values with a dotted underline are clickable and show the raw value, the exact source location, the scale evidence and the source; derived values additionally show their formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Revenue ($m) · annual basis, as reported
Net income ($m) · annual basis, as reported
EPS ($) · annual basis, as reported
Operating cash flow ($m) · annual basis, as reported
Revenue ($m) · quarterly basis, as reported
Net income ($m) · quarterly basis, as reported
EPS ($) · quarterly basis, as reported
Operating cash flow ($m) · quarterly basis, as reported
Cash ($m) · annual basis, as reported
Debt ($m) · annual basis, as reported
Net Debt ($m) · annual basis, as reported
Capex ($m) · annual basis, as reported
FCF ($m) · annual basis, as reported
D&A ($m) · annual basis, as reported
Cash ($m) · quarterly basis, as reported
Debt ($m) · quarterly basis, as reported
Net Debt ($m) · quarterly basis, as reported
Capex ($m) · quarterly basis, as reported
FCF ($m) · quarterly basis, as reported
D&A ($m) · quarterly basis, as reported
Shown: the most recent fiscal years. Full history since FY2016 is on record.
Fiscal years
Amounts in $m · EPS in $ per share · as reported
| Period | Revenue | Op. income | Net income | EPS ($) | EBITDA (adj.) | OCF | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | 726.4 | 19.2 | 7 | 0.16 | 186.5 | 152 | 30 |
| FY2024 | 701 | -73.4 | -99.6 | -2.15 | – | 189.4 | 20 |
| FY2023 | 675 | 87.7 | 42 | 0.89 | 0.21 | 154.6 | 11 |
Quarters
Amounts in $m · EPS in $ per share · Net Debt/EBITDA as a multiple · as reported
| Period | Published | Revenue | Op. income | Net income | EPS ($) | EBITDA (adj.) | FCF | Cash | Net Debt | Net Debt/EBITDA (x) | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2* | 2026-08-04 | 192.4 | 4.3 | 4.7 | 0.12 | 48.7 | 56.1 | 205.9 | 157.2 | 1.5x (LTM) | 33 |
| 2026-Q1* | 2026-04-30 | 177.4 | 6.9 | 2.9 | 0.07 | 40.2 | 23 | 144.3 | 223.3 | 1.9x (LTM) | 31 |
| 2025-Q4* | 2026-02-26 | 196.9 | 2.3 | 1.6 | 0.04* | 38.7 | 43.5 | 158.5 | 213.6 | 1.9x (LTM) | 130 |
| 2025-Q3* | 2025-11-06 | 179.5 | 6.4 | 5.4 | 0.12 | 49.4 | 57 | 147.6 | 229.1 | 1.7x (LTM) | 26 |
| 2025-Q2* | 2025-08-05 | 181.1 | 8.5 | -4.8 | -0.11 | 54.3 | 9.3 | 300.5 | 482.4 | – | 24 |
| 2025-Q1* | 2025-05-08 | 168.9 | 2 | 4.8 | 0.10 | 44.1 | 26.9 | 283.6 | 501.9 | – | 22 |
| 2024-Q4* | 2025-02-27 | 187.3 | 24.7 | 16 | 0.35* | 0.06 | 31 | 276.8 | 510.3 | 56.7x (LTM) | 121 |
| 2024-Q3* | 2024-11-06 | 168.6 | -139.5 | -143.5 | -3.11 | 54.7 | 49.8 | 246 | 62.5 | – | 17 |
| 2024-Q2* | 2024-07-30 | 178 | 28.2 | 18.9 | 0.39 | 62.12 | 51.6 | 247.1 | -137.3 | – | 15 |
| 2024-Q1* | 2024-05-07 | 167.1 | 13.2 | 9 | 0.19 | 44.6 | 46.3 | 184.1 | -62.9 | – | 13 |
| 2023-Q4* | 2024-01-04 | 181.2 | 33.2 | 24.9 | 0.53* | 0.07 | 45.8 | 153.3 | 377.8 | – | 10 |
| 2023-Q3* | 2023-11-02 | 163.9 | 17.7 | 10.9 | 0.23 | 52.9 | 41 | 99.1 | 27.5 | – | 8 |
| 2023-Q2* | 2023-08-02 | 169.5 | 39.9 | 25.8 | 0.51 | 54.3 | 40.1 | 86.8 | 56.7 | – | 6 |
| 2023-Q1* | 2023-05-03 | 160.3 | -3.1 | -19.5 | -0.43 | 0.04 | 12.6 | 35.5 | 102 | – | 4 |
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.
Columns not reported in this reporting cadence are hidden: Op. income (adj.), EPS adj. (not reported in any source for these periods).
Advertisement
Balance Sheet & Cash Flow ($m)#
Point-in-time balance sheet items (e.g. cash, financial debt) and cash flow items (operating cash flow, investments/capex) per fiscal year, half-year and quarter. Balance sheet values are as of the period end, flow items cover the period. Derived values are marked and are calculated, for example, as: net debt = financial debt − cash; free cash flow = operating cash flow − capex; the click popover shows formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.
Fiscal years
Amounts in $m · as reported
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | 2026-02-26 | 158.5 | 372.2 | 213.6 | 91 | 152 | 15.3 | 136.7 | 29 |
| FY2024 | 2025-02-27 | 276.8 | 787.1 | 510.3 | 78.8 | 189.4 | 10.6 | 178.8 | 20 |
| FY2023 | 2024-01-04 | 153.3 | 531.1 | 377.8 | 75.6 | 154.6 | 15.2 | 139.5 | 10 |
Quarters
Amounts in $m · as reported
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2 | 2026-08-04 | 205.9 | 363.1 | 157.2 | 21.3 | 57.5 | 1.3 | 56.1 | 33 |
| 2026-Q1 | 2026-04-30 | 144.3 | 367.7 | 223.3 | 21.3 | 25.7 | 2.7 | 23 | 31 |
| 2025-Q4 | 2026-02-26 | 158.5 | 372.2 | 213.6 | 21.3 | 43.7 | 0.2 | 43.5 | 130 |
| 2025-Q3 | 2025-11-06 | 147.6 | 376.7 | 229.1 | 21.2 | 60.8 | 3.9 | 57 | 26 |
| 2025-Q2 | 2025-08-05 | 300.5 | 782.9 | 482.4 | 27.3 | 12 | 2.7 | 9.3 | 24 |
| 2025-Q1 | 2025-05-08 | 283.6 | 785.5 | 501.9 | 21.2 | 35.5 | 8.5 | 26.9 | 22 |
| 2024-Q4 | 2025-02-27 | 276.8 | 787.1 | 510.3 | 21.2 | 33.1 | 2.1 | 31 | 121 |
| 2024-Q3 | 2024-11-06 | 246 | 308.5 | 62.5 | 20.3 | 53.9 | 4.1 | 49.8 | 17 |
| 2024-Q2 | 2024-07-30 | 247.1 | 109.8 | -137.3 | 18.8 | 53.2 | 1.6 | 51.6 | 15 |
| 2024-Q1 | 2024-05-07 | 184.1 | 121.1 | -62.9 | 18.4 | 49.1 | 2.8 | 46.3 | 13 |
| 2023-Q4 | 2024-01-04 | 153.3 | 531.1 | 377.8 | 18.5 | 47.6 | 1.8 | 45.8 | 10 |
| 2023-Q3 | 2023-11-02 | 99.1 | 126.6 | 27.5 | 18.4 | 44.4 | 3.4 | 41 | 8 |
| 2023-Q2 | 2023-08-02 | 86.8 | 143.5 | 56.7 | 19 | 43.5 | 3.4 | 40.1 | 6 |
| 2023-Q1 | 2023-05-03 | 35.5 | 137.5 | 102 | 19.6 | 19.1 | 6.6 | 12.6 | 4 |
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.
Advertisement
Revenue by Type (as of 2026-Q2 · USDm · 3/3)#
Revenue split by segment or product type, exactly as the company itself reports it. The basis is stated next to each value (3, 6 or 12 months); segment totals can deviate from group revenue (reconciliation/consolidation items). If the company changes its segment structure, older structures are kept in the expandable part. Rows in grey are no longer reported separately by the company; they show the last available figures and are never extrapolated.
| Segment | Since | Period | Basis | Revenue | Growth | Source |
|---|---|---|---|---|---|---|
| ZILRETTA | 2022-Q4 | 2025-Q3 | 3M | 29 | 2.1% | 27 |
| iovera° | 2022-Q4 | 2025-Q3 | 3M | 6.5 | 14.3% | 27 |
| EXPAREL | 2022-Q4 | 2025-Q3 | 3M | – | 5.9% | 27 |
Advertisement
Products & M&A (32/74 active+recent)#
Product announcements from the reports; market launches, approvals, partnerships; with first mention (date) and source. “Active/current” means: still mentioned in the most recent reports; what the company no longer mentions moves to the expandable part but is never deleted. Rows in grey are discontinued products.
| Product/Line | Since | Status | Source |
|---|---|---|---|
| Generic bupivacaine liposome entry | 2030 | Launched | 29 |
| PCRX-2002 Phase 2 bunionectomy trial expected to initiate | 2026-09 | Planned | 33 |
| UnitedHealthcare separate reimbursement for EXPAREL approved | 2026-07 | Launched | 33 |
| PCRX-201 manufacturing transitioned to U.S.-based commercial manufacturing process | 2026-07 | Launched | 33 |
| PCRX-201 Phase 1 study publication in Annals of the Rheumatic Diseases | 2026 | Launched | 34 |
| PCRX-2002 Phase 2 program initiation (2x) | 2026 | Launched | 29 |
| LG Chem marketing authorization filings in South Korea and Thailand (2x) | 2026 | Launched | 29 |
| AMT-143 Phase 2 program | 2026 | Launched | 26 |
| New group purchasing organization (GPO) partnership | 2025-12 | Launched | 28 |
| Patent infringement settlement with Fresenius Kabi, eVenus, and Jiangsu Hengrui | 2025-09 | Launched | 27 |
| EXPAREL pediatric registration program | 2025-09 | Launched | 26 |
| EXPAREL U.S. Patent No. 12,370,142 issuance | 2025-08 | Launched | 27 |
| eVenus Paragraph IV settlement agreement | 2025-04 | Launched | 29 |
| Settlement with eVenus ANDA Filers allowing generic bupivacaine liposome entry | 2025-04 | Launched | 29 |
| Patent No. 12,251,468 for EXPAREL composition | 2025-03 | Launched | 23 |
| iovera° New Medicare C-Code (C9809) Implementation | 2025-01 | Launched | 29 |
| NOPAIN Act implementation - separate EXPAREL reimbursement in outpatient surgical environments | 2025-01 | Launched | 16 |
| Laura Brege appointed Board Chair | 2025-01 | Launched | 21 |
| Krys Corbett appointed Chief Business Officer | 2025-01 | Launched | 21 |
| Jubilant Hollisterstier Manufacture and Supply Agreement | 2025-01 | Launched | 29 |
| FDA clearance of 25-gauge 180mm Smart Tip for iovera° | 2025-01 | Launched | 20 |
| EXPAREL separate Medicare reimbursement implementation (4×) | 2025-01 | Launched | 29 |
| Brendan Teehan appointed Chief Commercial Officer | 2025-01 | Launched | 21 |
| ZILRETTA shoulder indication clinical trial ongoing | 2025 | Launched | 29 |
| NOPAIN for Veterans Act (H.R. 5409 / S. 3209) | 2025 | Launched | 29 |
| NOPAIN Act rollout (3×) | 2025 | Launched | 29 |
| EXPAREL pediatric trial Part 1 completion | 2025 | Launched | 24 |
| HCPCS J-code (J0666) for EXPAREL (4×) | 2024-10 | Launched | 29 |
| iovera° spasticity pivotal trial (7×) | 2024-06 | Launched | 29 |
| PCRX-201 Phase 2 ASCEND trial (25×) | 2023-06 | Launched | 20 |
| ZILRETTA shoulder OA Phase 3 trial (13×) | 2023-03 | Launched | 33 |
| EXPAREL pediatric Phase 1 study launch (4×) | 2023-03 | Launched | 22 |
| iovera° medial branch block Smart Tip (8×) | 2024-12 | Launched | 31 |
| iovera° SmartTip FDA 510(k) clearance | 2024-12 | Launched | 21 |
| U.S. Patent No. 12,156,940 for EXPAREL manufacturing | 2024-12 | Launched | 21 |
| Phase 1 data presentation for PCRX-201 in knee osteoarthritis | 2024-11 | Launched | 20 |
| PCRX-201 gene therapy development (3×) | 2024-11 | Launched | 14 |
| PCRX-201 2-year safety and efficacy data | 2024-11 | Launched | 21 |
| New C-code (C9809) for iovera° Medicare reimbursement in ASC and HOPD settings | 2024-11 | Launched | 20 |
| Issuance of $287.5 million 2.125% convertible senior notes due 2029 | 2024-05 | Launched | 20 |
| U.S. Patent Nos. 11,918,565 and 11,931,459 for EXPAREL sciatic nerve block and pediatric use | 2024-03 | Launched | 20 |
| EXPAREL patents issued (3 patents) | 2024-03 | Launched | 13 |
| PCT application for ZILRETTA OA pain treatment in diabetic patients | 2024-02 | Launched | 20 |
| PCRX-201 (2×) | 2024-02 | Launched | 29 |
| Manufacturing suite approval at Science Center Campus San Diego (4×) | 2024-02 | Launched | 20 |
| Enhanced Large-Scale Manufacturing Process for EXPAREL (San Diego) | 2024-02 | Launched | 29 |
| 200-liter EXPAREL manufacturing suite | 2024-02 | Launched | 15 |
| National group purchasing agreement with Premier for EXPAREL | 2024-01 | Launched | 11 |
| iovera° expansion to spasticity indication | 2024 | Launched | 20 |
| NOPAIN catalyst | 2023-12 | Launched | 12 |
| ZILRETTA capital project in Swindon, England | 2023-06 | Launched | 9 |
| EXPAREL intrathecal analgesia Phase 1 study (3×) | 2023-06 | Launched | 15 |
| EXPAREL capacity expansion sNDA submission | 2023-06 | Launched | 6 |
| EXPAREL capacity expansion in San Diego, California (2×) | 2023-06 | Launched | 8 |
| Distribution agreement with Eurofarma for EXPAREL in Latin America | 2023-06 | Launched | 6 |
| Partnership with PGA TOUR Champions for iovera° sponsorship | 2023-04 | Launched | 5 |
| Term Loan A refinancing, retirement of Term Loan B | 2023-03 | Launched | 4 |
| TLA Credit Agreement refinancing | 2023-03 | Launched | 6 |
| FDA sNDA acceptance for EXPAREL nerve blocks in lower extremity procedures | 2023-03 | Launched | 5 |
| EXPAREL stellate ganglion block Phase 3 study (5×) | 2023-03 | Launched | 15 |
| Houston Pacira Innovation and Training Center (3×) | 2023-01 | Launched | 8 |
| Brazil regulatory application for EXPAREL via Eurofarma distribution agreement | 2022-12 | Launched | 4 |
| eVenus ANDA amendment for generic EXPAREL 133 mg/10 mL | 2021-12 | Launched | 20 |
| eVenus ANDA Paragraph IV certification for EXPAREL 266 mg/20 mL (3×) | 2021-10 | Launched | 20 |
| Distribution agreement with Verve Medical Products for iovera° in Canada | 2021-07 | Launched | 6 |
| EXPAREL pediatric sNDA approval for children aged 6-17 | 2021-03 | Launched | 20 |
| EXPAREL approved for pediatric use in patients six years and older | 2021-03 | Launched | 20 |
| EXPAREL approval for patients six years of age and older (2×) | 2021-03 | Launched | 20 |
| EXPAREL FDA approval for pediatric patients ages 6-17 | 2021-03 | Launched | 29 |
| DOJ settlement resolving investigation of EXPAREL marketing and promotional practices | 2020-07 | Launched | 20 |
| EXPAREL lower extremity nerve block launch (21×) | 2018-04 | Launched | 14 |
| EXPAREL commercial launch | 2012-04 | Launched | 29 |
| iovera° spasticity investigational device exemption study | planned | Planned | 20 |
| EXPAREL pediatric indication under six years | planned | Planned | 20 |
Advertisement
M&A (17)#
All recorded acquisitions (purchases) and divestitures/exits with date, short description and source; deliberately including smaller transactions that summaries often miss. Purchase prices appear only where the company itself has disclosed them. Rows in grey are cancelled transactions; the cancellation date is shown in the row.
Acquisitions · 11Divestitures/exits · 1older: 5 (in the table)
Acquisitions
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| AMT-143 exclusive license agreement with AmacaThera | 2025-11 | Announced | 27 |
| GQ Bio Acquisition - exclusive license for HCAd gene therapy vector encoding PRG4 | 2025-02 | Completed | 20 |
| GQ Bio Acquisition (5×) | 2025-02 | Completed | 32 |
| PCRX-2002 In-Licensing from AmacaThera | 2025 | Completed | 30 |
| AmacaThera license agreement (3×) | 2025 | Announced | 31 |
| Repurchase of $200.0 million 0.750% convertible senior notes due 2025 | 2024-05 | Completed | 16 |
| 2029 Convertible Notes offering | 2024-05 | Completed | 20 |
| $150 Million Share Repurchase Program (2×) | 2024-05 | Completed | 16 |
| Flexion Acquisition completing ZILRETTA addition to product portfolio | 2021-11 | Completed | 29 |
| Flexion Acquisition (3×) | 2021-11 | Completed | 29 |
| MyoScience Acquisition (2×) | 2019-04 | Completed | 29 |
| EXPAREL EC approval (7×) | 2011-10 | Completed | 29 |
| Pacira Pharmaceuticals acquisition from SkyePharma | 2007-03 | Completed | 20 |
Divestitures / exits
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| iovera° divestiture to Zimmer Biomet | 2026-07 | Divested | 34 |
Terminated / withdrawn
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| LG Chem partnership for EXPAREL in Asia-Pacific markets (2x) | 2026-01 | Terminated (2021-01) | 29 |
| LG Chem EXPAREL Partnership Agreement (2x) | 2026-01 | Terminated (2021-01) | 29 |
| Co-promotion agreement with J&J MedTech for ZILRETTA (3x) | 2025-07 | Terminated (2023-01) | 29 |
Advertisement
Reported KPIs (as disclosed) (366)#
Figures the company discloses itself in addition to the standard financials; order intake, recurring revenue, user or unit counts, adjusted measures. These “story KPIs” usually slip through standard databases; here they are collected as reported, with no calculation of our own. Important: the definition comes from the company itself and can differ from firm to firm; period and source are stated next to every value.
Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
| Date | Period | KPI | Value / change | Source |
|---|---|---|---|---|
| 2026-08-04 | 2026-Q2 | working capital | $493.2 million | 33 |
| 2026-08-04 | 2026-Q2 | sales related allowances and accruals pct of gross sales | 25.2% (six months 2026), 21.7% (six months 2025) | 33 |
| 2026-08-04 | 2026-Q2 | revolving credit interest expense hypothetical impact | $0.8 million (100 basis point increase over 12 months) | 33 |
| 2026-08-04 | 2026-Q2 | iovera Smart Tip volume growth | 19% (three months), 23% (six months) | 33 |
| 2026-08-04 | 2026-Q2 | iovera Smart Tip net selling price decline | 2% (three months), 3% (six months) | 33 |
| 2026-08-04 | 2026-Q2 | gross margin | 77% (three months 2026), 77% (three months 2025), 78% (six months 2026), 79% (six months 2025) | 33 |
| 2026-08-04 | 2026-Q2 | diluted weighted avg shares non-GAAP | 40.3 million | 34 |
| 2026-08-04 | 2026-Q2 | diluted weighted avg shares GAAP | 40.3 million | 34 |
| 2026-08-04 | 2026-Q2 | cash and investments | 251.0 million | 34 |
| 2026-08-04 | 2026-Q2 | cash and equivalents and investments | $251.0 million | 33 |
| 2026-08-04 | 2026-Q2 | available for sale securities hypothetical rate impact | $0.1 million (100 basis point increase) | 33 |
| 2026-08-04 | 2026-Q2 | accumulated deficit | $191.8 million | 33 |
| 2026-08-04 | 2026-Q2 | ZILRETTA net selling price growth | 2% (three months), 3% (six months) | 33 |
| 2026-08-04 | 2026-Q2 | ZILRETTA kit volume growth | 2% (three months), 6% (six months) | 33 |
| 2026-08-04 | 2026-Q2 | Revolving Credit Facility outstanding | $81.0 million | 33 |
| 2026-08-04 | 2026-Q2 | Revolving Credit Facility all in rate | 6.72% | 33 |
| 2026-08-04 | 2026-Q2 | EXPAREL net selling price change | less than 1% lower | 33 |
| 2026-08-04 | 2026-Q2 | EXPAREL gross vial volume growth | 4% (three months), 6% (six months) | 33 |
| 2026-08-04 | 2026-Q2 | 2029 Notes fair value | $999 per $1,000 principal amount | 33 |
| 2026-04-30 | 2026-Q1 | Working capital | 406,200 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Total revenues | 177,376 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Total net product sales | 177,376 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Share repurchases in Q1 2026 | 50,000 | 31 |
| 2026-04-30 | 2026-Q1 | Share repurchase program authorized | 300,000 | 31 |
| 2026-04-30 | 2026-Q1 | Selling, general and administrative expense | 93,944 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Royalty revenue | – | 31 |
| 2026-04-30 | 2026-Q1 | Revolving Credit Facility outstanding | 86,000 | 31 |
| 2026-04-30 | 2026-Q1 | Revolving Credit Facility commitment amount | 300,000 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Research and development expense | 28,072 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Net product sales - iovera° | 6,176 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Net product sales - ZILRETTA | 26,767 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Net product sales - EXPAREL | 143,274 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Net cash used in financing activities | -59,398 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Net cash provided by operating activities | 25,680 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Net cash provided by investing activities | 19,441 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Interest income | 1,930 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Interest expense | -3,699 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Income tax expense | 2,082 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Income before income taxes | 4,998 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Gross margin | 79% | 31 |
| 2026-04-30 | 2026-Q1 | Effective tax rate | 42% | 31 |
| 2026-04-30 | 2026-Q1 | Diluted weighted average shares outstanding | 40.9 million | 32 |
| 2026-04-30 | 2026-Q1 | Cash and cash equivalents and available-for-sale investments | 202,200 (USD in thousands) | 31 |
| 2026-04-30 | 2026-Q1 | Cash and cash equivalents | $202.2 million | 32 |
| 2026-04-30 | 2026-Q1 | Accumulated deficit | -196,400 | 31 |
| 2026-04-30 | 2026-Q1 | 2029 Convertible Senior Notes outstanding principal | 287,500 | 31 |
| 2026-02-26 | FY2025 | working capital | $427.4 million | 29 |
| 2026-02-26 | FY2025 | Revolving credit facility outstanding | $91.0 million | 29 |
| 2026-02-26 | FY2025 | Raw materials commitments | $9.1 million | 29 |
| 2026-02-26 | FY2025 | Patients reached 2025 | 2.5 million | 29 |
| 2026-02-26 | FY2025 | Lease commitments net minimum | $53.5 million | 29 |
| 2026-02-26 | FY2025 | iovera net product sales (Q4 2025) | 7.0 million | 30 |
| 2026-02-26 | FY2025 | iovera net product sales (Full Year 2025) | 24.2 million | 30 |
| 2026-02-26 | FY2025 | Flexion acquisition potential payments | $372.3 million | 29 |
| 2026-02-26 | FY2025 | Convertible notes 2029 principal | $287.5 million | 29 |
| 2026-02-26 | FY2025 | Contract manufacturing commitments | $37.2 million | 29 |
| 2026-02-26 | FY2025 | Cash and equivalents | $238.4 million | 29 |
| 2026-02-26 | FY2025 | accumulated deficit | $199.3 million | 29 |
| 2026-02-26 | FY2025 | ZILRETTA net product sales (Q4 2025) | 33.0 million | 30 |
| 2026-02-26 | FY2025 | ZILRETTA net product sales (Full Year 2025) | 116.6 million | 30 |
| 2026-02-26 | FY2025 | Shares repurchased (Full Year 2025) | 5.9 million | 30 |
| 2026-02-26 | FY2025 | Share repurchase cost (Full Year 2025) | $150.0 million | 30 |
| 2026-02-26 | FY2025 | Remaining share repurchase authorization | $150.0 million | 30 |
| 2026-02-26 | FY2025 | Patients benefitted | 2.5 million | 30 |
| 2026-02-26 | FY2025 | IGOR enrollment | 3,200 patients | 29 |
| 2026-02-26 | FY2025 | Gross margin | 79% | 29 |
| 2026-02-26 | FY2025 | EXPAREL revenue percentage 2025 | 79% | 29 |
| 2026-02-26 | FY2025 | EXPAREL revenue percentage 2024 | 78% | 29 |
| 2026-02-26 | FY2025 | EXPAREL revenue percentage 2023 | 80% | 29 |
| 2026-02-26 | FY2025 | EXPAREL net product sales (Q4 2025) | 155.8 million | 30 |
| 2026-02-26 | FY2025 | EXPAREL net product sales (Full Year 2025) | 575.1 million | 30 |
| 2026-02-26 | FY2025 | Cash and cash equivalents | 238.4 million | 30 |
| 2026-01-08 | 2025-Q4 | Shares outstanding (December 31, 2025) | 41.1 million | 28 |
| 2026-01-08 | 2025-Q4 | Share repurchases (fourth quarter) | 2.0 million shares | 28 |
| 2026-01-08 | 2025-Q4 | Share repurchase amount (fourth quarter) | $50.0 million | 28 |
| 2026-01-08 | 2025-Q4 | Remaining share repurchase authorization | $150.0 million | 28 |
| 2026-01-08 | 2025-Q4 | EXPAREL full-year volume growth | 6 percent | 28 |
| 2026-01-08 | 2025-Q4 | EXPAREL fourth quarter volume growth | 7 percent | 28 |
| 2025-11-06 | 2025-Q3 | working capital | $455.7 million | 26 |
| 2025-11-06 | 2025-Q3 | Share repurchase program purchases | $100.1 million | 26 |
| 2025-11-06 | 2025-Q3 | Share repurchase program authorized | $300.0 million | 26 |
| 2025-11-06 | 2025-Q3 | Revolving credit facility outstanding | $96.0 million | 26 |
| 2025-11-06 | 2025-Q3 | Revolving credit facility commitment | $300.0 million | 26 |
| 2025-11-06 | 2025-Q3 | cash and equivalents and investments | $246.3 million | 26 |
| 2025-11-06 | 2025-Q3 | accumulated deficit | $201.0 million | 26 |
| 2025-11-06 | 2025-Q3 | Total cash, cash equivalents and available-for-sale investments | 246.3 (USD millions) | 27 |
| 2025-11-06 | 2025-Q3 | Short-term available-for-sale investments | 98.7 (USD millions) | 27 |
| 2025-11-06 | 2025-Q3 | EXPAREL patents in Orange Book | 21 (USD thousands) | 26 |
| 2025-11-06 | 2025-Q3 | Diluted weighted average shares outstanding (Non-GAAP) | 45.4 | 27 |
| 2025-11-06 | 2025-Q3 | Diluted weighted average shares outstanding (GAAP) | 44.5 | 27 |
| 2025-11-06 | 2025-Q3 | Cash and cash equivalents | 147.6 (USD millions) | 27 |
| 2025-11-06 | 2025-Q3 | 2029 convertible notes outstanding | $287.5 million | 26 |
| 2025-08-05 | 2025-Q2 | iovera° net product sales (Q2 2025) | 5.6 million | 25 |
| 2025-08-05 | 2025-Q2 | iovera revenue Q2 2025 | 5,588 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | iovera revenue 6M 2025 | 10,711 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | ZILRETTA revenue Q2 2025 | 31,334 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | ZILRETTA revenue 6M 2025 | 54,672 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | ZILRETTA net product sales (Q2 2025) | 31.3 million | 25 |
| 2025-08-05 | 2025-Q2 | Working capital | 432.4 million | 24 |
| 2025-08-05 | 2025-Q2 | Total stockholders' equity (June 30, 2025) | 757.8 million | 25 |
| 2025-08-05 | 2025-Q2 | Total revenues Q2 2025 | 181,099 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Total revenues 6M 2025 | 350,022 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Total revenues (Q2 2025) | 181.1 million | 25 |
| 2025-08-05 | 2025-Q2 | Total net product sales Q2 2025 | 180,347 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Total net product sales 6M 2025 | 347,941 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Short-term available-for-sale investments (June 30, 2025) | 145.4 million | 25 |
| 2025-08-05 | 2025-Q2 | SG&A expense Q2 2025 | 88,578 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | SG&A expense 6M 2025 | 175,354 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | R&D expense Q2 2025 | 28,200 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | R&D expense 6M 2025 | 53,893 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Operating cash flow 6M 2025 | 47,471 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Operating cash flow 6M 2024 | 102,337 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Investing cash flow 6M 2025 | 36,534 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Gross margin Q2 2025 | 77% | 24 |
| 2025-08-05 | 2025-Q2 | Gross margin 6M 2025 | 79% | 24 |
| 2025-08-05 | 2025-Q2 | Financing cash flow 6M 2025 | -60,499 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | EXPAREL revenue Q2 2025 | 142,917 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | EXPAREL revenue 6M 2025 | 279,446 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | EXPAREL net product sales (Q2 2025) | 142.9 million | 25 |
| 2025-08-05 | 2025-Q2 | Diluted weighted average shares outstanding (Q2 2025) | 45.5 million | 25 |
| 2025-08-05 | 2025-Q2 | Cost of goods sold Q2 2025 | 40,866 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Cost of goods sold 6M 2025 | 75,172 (USD in thousands) | 24 |
| 2025-08-05 | 2025-Q2 | Cash and investments | 445.9 million | 24 |
| 2025-08-05 | 2025-Q2 | Cash and cash equivalents (June 30, 2025) | 300.5 million | 25 |
| 2025-08-05 | 2025-Q2 | Accumulated deficit | 206.4 million | 24 |
| 2025-05-08 | 2025-Q1 | iovera° net product sales | 5.1 million | 23 |
| 2025-05-08 | 2025-Q1 | ZILRETTA net product sales | 23.3 million | 23 |
| 2025-05-08 | 2025-Q1 | Total revenues | 168.9 million | 23 |
| 2025-05-08 | 2025-Q1 | EXPAREL net product sales | 136.5 million | 23 |
| 2025-05-08 | 2025-Q1 | EXPAREL average daily volume growth | 7% | 23 |
| 2025-05-08 | 2025-Q1 | Cash provided by operations | 35.5 million | 23 |
| 2025-05-08 | 2025-Q1 | Cash and cash equivalents | 283.610 million | 23 |
| 2025-02-27 | FY2024 | working capital | $435.2 million | 20 |
| 2025-02-27 | FY2024 | pMVL patent families | >13 | 20 |
| 2025-02-27 | FY2024 | outstanding principal TLA Term Loan | $105.3 million | 20 |
| 2025-02-27 | FY2024 | outstanding principal 2029 Notes | $287.5 million | 20 |
| 2025-02-27 | FY2024 | outstanding principal 2025 Notes | $202.5 million | 20 |
| 2025-02-27 | FY2024 | net minimum lease commitments | $64.0 million | 20 |
| 2025-02-27 | FY2024 | minimum contractual commitments raw materials | $6.5 million | 20 |
| 2025-02-27 | FY2024 | minimum contractual commitments contract manufacturing | $59.9 million | 20 |
| 2025-02-27 | FY2024 | iovera patent families | 29 | 20 |
| 2025-02-27 | FY2024 | iovera net product sales 2024 | $22.8 million | 20 |
| 2025-02-27 | FY2024 | iovera net product sales 2023 | $19.7 million | 20 |
| 2025-02-27 | FY2024 | iovera net product sales 2022 | $15.3 million | 20 |
| 2025-02-27 | FY2024 | iovera TKA pain score reduction | 22% | 20 |
| 2025-02-27 | FY2024 | iovera TKA opioid use at 6 weeks cryoanalgesia group | 14% | 20 |
| 2025-02-27 | FY2024 | iovera TKA opioid use at 6 weeks control group | 44% | 20 |
| 2025-02-27 | FY2024 | iovera TKA morphine equivalent reduction 72 hours | 51% | 20 |
| 2025-02-27 | FY2024 | iGOR registry participating sites | 12 | 20 |
| 2025-02-27 | FY2024 | iGOR registry enrollment as of November 2024 | >2,000 | 20 |
| 2025-02-27 | FY2024 | cash and cash equivalents and available for sale investments | $484.6 million | 20 |
| 2025-02-27 | FY2024 | accumulated deficit | $206.4 million | 20 |
| 2025-02-27 | FY2024 | ZILRETTA patent families | 2 | 20 |
| 2025-02-27 | FY2024 | ZILRETTA net product sales 2024 | $118.1 million | 20 |
| 2025-02-27 | FY2024 | ZILRETTA net product sales 2023 | $111.1 million | 20 |
| 2025-02-27 | FY2024 | ZILRETTA net product sales 2022 | $105.5 million | 20 |
| 2025-02-27 | FY2024 | Women opioid dependency risk vs men | 40% more likely | 20 |
| 2025-02-27 | FY2024 | Women OA diabetes comorbidity | 14% | 20 |
| 2025-02-27 | FY2024 | Warehouse square footage | 21,000 | 20 |
| 2025-02-27 | FY2024 | Third molar procedures annual US | 5 million | 20 |
| 2025-02-27 | FY2024 | Third molar extraction placebo refill rate | 7.7% | 20 |
| 2025-02-27 | FY2024 | Third molar extraction EXPAREL refill rate | 3.3% | 20 |
| 2025-02-27 | FY2024 | Third molar extraction EXPAREL opioid reduction | 59% | 20 |
| 2025-02-27 | FY2024 | Science Center Campus square footage | 195,000 | 20 |
| 2025-02-27 | FY2024 | Science Center Campus acreage | 5 | 20 |
| 2025-02-27 | FY2024 | Research development manufacturing office facility square footage | 90,000 | 20 |
| 2025-02-27 | FY2024 | RDF expected recovery amount | $14.5 million | 20 |
| 2025-02-27 | FY2024 | Pediatric moderate severe pain hospitalization | 50% | 20 |
| 2025-02-27 | FY2024 | Pediatric chronic pain 12 months postsurgery | 20% | 20 |
| 2025-02-27 | FY2024 | PCRX 201 Phase 1 treatment related joint effusions pretreated | 36% | 20 |
| 2025-02-27 | FY2024 | PCRX 201 Phase 1 treatment related joint effusions not pretreated | 61% | 20 |
| 2025-02-27 | FY2024 | PCRX 201 Phase 1 stiffness improvement pretreated cohort low | 53% | 20 |
| 2025-02-27 | FY2024 | PCRX 201 Phase 1 stiffness improvement pretreated cohort high | 72% | 20 |
| 2025-02-27 | FY2024 | PCRX 201 Phase 1 participants greater than 50 percent pain reduction by 16 weeks | >70% | 20 |
| 2025-02-27 | FY2024 | PCRX 201 Phase 1 pain reduction pretreated cohort low | 48% | 20 |
| 2025-02-27 | FY2024 | PCRX 201 Phase 1 pain reduction pretreated cohort high | 65% | 20 |
| 2025-02-27 | FY2024 | PCRX 201 Phase 1 effusions median resolution days | 33 | 20 |
| 2025-02-27 | FY2024 | Osteoarthritis prevalence US | 32.5 million | 20 |
| 2025-02-27 | FY2024 | Medicaid tooth extraction opioid prescriptions | 1.2 million | 20 |
| 2025-02-27 | FY2024 | Medicaid tooth extraction opioid prescription rate | 42% | 20 |
| 2025-02-27 | FY2024 | Medicaid median morphine equivalent per patient | 120 | 20 |
| 2025-02-27 | FY2024 | McKesson revenue percentage | 34% | 20 |
| 2025-02-27 | FY2024 | Lower extremity procedures annually | 3 million | 20 |
| 2025-02-27 | FY2024 | Knee OA symptomatic individuals US | 14 million | 20 |
| 2025-02-27 | FY2024 | Knee OA lifetime risk | 45% | 20 |
| 2025-02-27 | FY2024 | Knee OA individuals under 45 US | 2 million | 20 |
| 2025-02-27 | FY2024 | GQ Bio ownership acquired February 2025 | 81% | 20 |
| 2025-02-27 | FY2024 | GQ Bio Milestone 3 payment | €0.5 million | 20 |
| 2025-02-27 | FY2024 | GQ Bio Milestone 2 success fee minimum | €0.5 million | 20 |
| 2025-02-27 | FY2024 | GQ Bio Milestone 2 success fee maximum | €7.5 million | 20 |
| 2025-02-27 | FY2024 | GQ Bio Milestone 2 royalty minimum | 0.25% | 20 |
| 2025-02-27 | FY2024 | GQ Bio Milestone 2 royalty maximum | 3.75% | 20 |
| 2025-02-27 | FY2024 | GQ Bio Milestone 1 payment | €0.5 million | 20 |
| 2025-02-27 | FY2024 | Flexion Acquisition initial consideration | $578.8 million | 20 |
| 2025-02-27 | FY2024 | Flexion Acquisition debt settlement | $85.1 million | 20 |
| 2025-02-27 | FY2024 | Flexion Acquisition contingent value rights maximum | $372.3 million | 20 |
| 2025-02-27 | FY2024 | Flexion Acquisition contingent consideration | $45.2 million | 20 |
| 2025-02-27 | FY2024 | Flexion Acquisition cash to shareholders | $448.5 million | 20 |
| 2025-02-27 | FY2024 | EXPAREL revenue percentage 2024 | 78% | 20 |
| 2025-02-27 | FY2024 | EXPAREL revenue percentage 2023 | 80% | 20 |
| 2025-02-27 | FY2024 | EXPAREL revenue percentage 2022 | 81% | 20 |
| 2025-02-27 | FY2024 | EXPAREL net product sales 2024 | $549.0 million | 20 |
| 2025-02-27 | FY2024 | EXPAREL net product sales 2023 | $538.1 million | 20 |
| 2025-02-27 | FY2024 | EXPAREL net product sales 2022 | $536.9 million | 20 |
| 2025-02-27 | FY2024 | EXPAREL manufacturing facility square footage | 84,000 | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 sciatic popliteal opioid free subjects | statistically significant reduction | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 sciatic popliteal opioid consumption reduction | statistically significant reduction | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 sciatic popliteal cumulative pain reduction | statistically significant reduction | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 interscalene pain score reduction | 46% | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 interscalene opioid free 48 hours | 13% | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 interscalene opioid consumption reduction | 78% | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 hemorrhoidectomy placebo no opioid through 72 hours | 10% | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 hemorrhoidectomy patients no opioid through 72 hours | 28% | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 hemorrhoidectomy opioid reduction | 45% | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 hemorrhoidectomy median time to opioid rescue placebo | 1 hour | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 hemorrhoidectomy median time to opioid rescue EXPAREL | 15 hours | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 adductor canal opioid consumption reduction | statistically significant reduction | 20 |
| 2025-02-27 | FY2024 | EXPAREL Phase 3 adductor canal cumulative pain reduction | statistically significant reduction | 20 |
| 2025-02-27 | FY2024 | Chronic back pain interventional procedures | 2 to 3 million | 20 |
| 2025-02-27 | FY2024 | Chronic back pain annual treatment seekers US | 28 to 30 million | 20 |
| 2025-02-27 | FY2024 | Cardiothoracic surgery persistent pain 12 months | 35% | 20 |
| 2025-02-27 | FY2024 | Cardiothoracic opioid use over 90 days | ~10% | 20 |
| 2025-02-27 | FY2024 | Cardinal Health revenue percentage | 23% | 20 |
| 2025-02-27 | FY2024 | Aratana commercial milestones | $40.0 million | 20 |
| 2025-02-27 | FY2024 | Annual pediatric procedures US | 1 million | 20 |
| 2025-02-27 | FY2024 | AmerisourceBergen revenue percentage | 20% | 20 |
| 2025-02-27 | 2024-Q4 | Cash and cash equivalents | $484.6 million | 21 |
| 2025-01-10 | 2024-Q4 | Selling days | 249 in 2024, 250 in 2023 | 19 |
| 2025-01-10 | 2024-Q4 | Patients treated per year | More than three million | 19 |
| 2025-01-10 | 2024-Q4 | EXPAREL average daily volume growth | 4 percent | 19 |
| 2024-11-06 | 2024-Q3 | working capital | 383.6 million | 17 |
| 2024-11-06 | 2024-Q3 | Total revenues 9M | 513,713 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | Total revenues 3M | 168,573 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | Total net product sales 9M | 509,933 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | Total net product sales 3M | 167,722 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | iovera° net product sales (Q3 2024) | 5.7 million | 18 |
| 2024-11-06 | 2024-Q3 | iovera revenue 9M | 16,359 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | iovera revenue 3M | 5,655 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | Gross margin 9M | 75% | 17 |
| 2024-11-06 | 2024-Q3 | Gross margin 3M | 77% | 17 |
| 2024-11-06 | 2024-Q3 | cash and equivalents and investments | 453.8 million | 17 |
| 2024-11-06 | 2024-Q3 | accumulated deficit | 222.4 million | 17 |
| 2024-11-06 | 2024-Q3 | ZILRETTA revenue 9M | 84,966 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | ZILRETTA revenue 3M | 28,420 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | ZILRETTA net product sales (Q3 2024) | 28.4 million | 18 |
| 2024-11-06 | 2024-Q3 | Weighted average shares outstanding - diluted (Q3 2024) | 46.134 million | 18 |
| 2024-11-06 | 2024-Q3 | Total revenues (Q3 2024) | 168.6 million | 18 |
| 2024-11-06 | 2024-Q3 | Total cash position (Q3 2024) | 453.8 million | 18 |
| 2024-11-06 | 2024-Q3 | Short-term available-for-sale investments | 207.845 million | 18 |
| 2024-11-06 | 2024-Q3 | Non-GAAP diluted weighted average shares outstanding (Q3 2024) | 48.971 million | 18 |
| 2024-11-06 | 2024-Q3 | EXPAREL revenue 9M | 401,286 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | EXPAREL revenue 3M | 132,004 (USD in thousands) | 17 |
| 2024-11-06 | 2024-Q3 | EXPAREL net product sales (Q3 2024) | 132.0 million | 18 |
| 2024-11-06 | 2024-Q3 | Cash and cash equivalents | 245.965 million | 18 |
| 2024-07-30 | 2024-Q2 | Working capital | 539.5 million | 15 |
| 2024-07-30 | 2024-Q2 | Total selling, general and administrative expense 6M | 140,152 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Total selling, general and administrative expense 3M | 68,126 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Total revenues 6M | 345,140 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Total revenues 3M | 178,023 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Total research and development expense 6M | 38,576 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Total research and development expense 3M | 20,338 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Total net product sales 6M | 342,211 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Total net product sales 3M | 176,387 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | TLA Term Loan principal outstanding | 110.9 million | 15 |
| 2024-07-30 | 2024-Q2 | Stock-based compensation SG&A 6M | 16,833 | 15 |
| 2024-07-30 | 2024-Q2 | Stock-based compensation SG&A 3M | 8,848 | 15 |
| 2024-07-30 | 2024-Q2 | Stock-based compensation R&D 6M | 3,728 | 15 |
| 2024-07-30 | 2024-Q2 | Stock-based compensation R&D 3M | 1,925 | 15 |
| 2024-07-30 | 2024-Q2 | Sales and marketing 6M | 78,482 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Sales and marketing 3M | 39,047 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Royalty revenue 6M | 2,929 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Royalty revenue 3M | 1,636 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Restructuring charges 6M | 6,531 | 15 |
| 2024-07-30 | 2024-Q2 | Restructuring charges 3M | 996 | 15 |
| 2024-07-30 | 2024-Q2 | Regulatory and other 6M | 5,617 | 15 |
| 2024-07-30 | 2024-Q2 | Regulatory and other 3M | 2,923 | 15 |
| 2024-07-30 | 2024-Q2 | Product development and manufacturing capacity expansion 6M | 14,713 | 15 |
| 2024-07-30 | 2024-Q2 | Product development and manufacturing capacity expansion 3M | 7,318 | 15 |
| 2024-07-30 | 2024-Q2 | Operating cash flow | $53.2 million | 16 |
| 2024-07-30 | 2024-Q2 | Net product sales iovera 6M | 10,704 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Net product sales iovera 3M | 5,674 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Net product sales ZILRETTA 6M | 56,546 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Net product sales ZILRETTA 3M | 30,707 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Net product sales EXPAREL 6M | 269,282 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Net product sales EXPAREL 3M | 136,852 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Net product sales Bupivacaine 6M | 5,679 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Net product sales Bupivacaine 3M | 3,154 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Net increase in cash and cash equivalents | 93,755 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Interest income 6M | 8,652 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Interest income 3M | 4,749 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Interest expense 6M | -7,200 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Interest expense 3M | -3,884 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Income tax expense 6M | 22,359 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Income tax expense 3M | 17,698 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Gross margin 6M | 73 % | 15 |
| 2024-07-30 | 2024-Q2 | Gross margin 3M | 75 % | 15 |
| 2024-07-30 | 2024-Q2 | General and administrative 6M | 44,837 | 15 |
| 2024-07-30 | 2024-Q2 | General and administrative 3M | 20,231 | 15 |
| 2024-07-30 | 2024-Q2 | Gain on early extinguishment of debt 6M | 7,518 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Gain on early extinguishment of debt 3M | 7,518 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Flexion contingent consideration 6M | -2,297 | 15 |
| 2024-07-30 | 2024-Q2 | Flexion contingent consideration 3M | 1,509 | 15 |
| 2024-07-30 | 2024-Q2 | Effective tax rate 6M | 45 % | 15 |
| 2024-07-30 | 2024-Q2 | Effective tax rate 3M | 48 % | 15 |
| 2024-07-30 | 2024-Q2 | Diluted weighted average shares outstanding | 50.5 million | 16 |
| 2024-07-30 | 2024-Q2 | Cost of goods sold 6M | 91,678 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Cost of goods sold 3M | 44,262 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Clinical and preclinical development 6M | 14,518 | 15 |
| 2024-07-30 | 2024-Q2 | Clinical and preclinical development 3M | 8,172 | 15 |
| 2024-07-30 | 2024-Q2 | Cash from operating activities | 102,337 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Cash from investing activities | -30,745 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Cash from financing activities | 22,163 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Cash and cash equivalents and available for sale investments | 404.2 million | 15 |
| 2024-07-30 | 2024-Q2 | Cash and cash equivalents | $404.2 million | 16 |
| 2024-07-30 | 2024-Q2 | Basic weighted average shares outstanding | 46.2 million | 16 |
| 2024-07-30 | 2024-Q2 | Acquisition related expenses 6M | 404 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Acquisition related expenses 3M | 230 (USD in thousands) | 15 |
| 2024-07-30 | 2024-Q2 | Accumulated deficit | -78.9 million | 15 |
| 2024-07-30 | 2024-Q2 | 2029 Notes principal outstanding | 287.5 million | 15 |
| 2024-07-30 | 2024-Q2 | 2025 Notes principal outstanding | 202.5 million | 15 |
| 2024-05-07 | 2024-Q1 | working capital | 449.7 million | 13 |
| 2024-05-07 | 2024-Q1 | iovera° net product sales | 5.0 million | 14 |
| 2024-05-07 | 2024-Q1 | gross margin | 72 % | 13 |
| 2024-05-07 | 2024-Q1 | Cash and cash equivalents and investments | 325.9 million | 13 |
| 2024-05-07 | 2024-Q1 | accumulated deficit | 97.8 million | 13 |
| 2024-05-07 | 2024-Q1 | ZILRETTA net product sales | 25.8 million | 14 |
| 2024-05-07 | 2024-Q1 | Total revenues | 167.1 million | 14 |
| 2024-05-07 | 2024-Q1 | TLA Term Loan principal outstanding | 113.8 million | 13 |
| 2024-05-07 | 2024-Q1 | Flexion 2024 Notes principal outstanding | 8.6 million | 13 |
| 2024-05-07 | 2024-Q1 | EXPAREL net product sales | 132.4 million | 14 |
| 2024-05-07 | 2024-Q1 | Diluted weighted average shares outstanding | 52.2 million | 14 |
| 2024-05-07 | 2024-Q1 | Cash, cash equivalents and available-for-sale investments | 325.9 million | 14 |
| 2024-05-07 | 2024-Q1 | Cash provided by operations | 49.1 million | 14 |
| 2024-05-07 | 2024-Q1 | Basic weighted average shares outstanding | 46.5 million | 14 |
| 2024-05-07 | 2024-Q1 | 2025 Notes principal outstanding | 402.5 million | 13 |
| 2024-01-04 | FY2023 | EXPAREL average daily volume growth full year | 5 percent | 10 |
| 2024-01-04 | FY2023 | EXPAREL average daily volume growth Q4 | 4 percent | 10 |
| 2024-02-29 | 2023-Q4 | EXPAREL patient mark | 14 million | 12 |
| 2024-02-29 | 2023-Q4 | Cash and cash equivalents | $281.0 million | 12 |
| 2023-11-02 | 2023-Q3 | working capital | $353.6 million | 8 |
| 2023-11-02 | 2023-Q3 | cash and cash equivalents and available for sale investments | $235.2 million | 8 |
| 2023-11-02 | 2023-Q3 | accumulated deficit | $131.7 million | 8 |
| 2023-11-02 | 2023-Q3 | Cash provided by operations | $44.4 million | 9 |
| 2023-11-02 | 2023-Q3 | Cash and cash equivalents | $235.2 million | 9 |
| 2023-08-02 | 2023-Q2 | Working capital | 320.4 million | 6 |
| 2023-08-02 | 2023-Q2 | Total cash | 220.8 million | 7 |
| 2023-08-02 | 2023-Q2 | TLA Term Loan outstanding principal | 147.2 million | 6 |
| 2023-08-02 | 2023-Q2 | Patients treated with EXPAREL since initial approval in 2011 | more than 12 million | 6 |
| 2023-08-02 | 2023-Q2 | OA affects in the U.S. | over 32.5 million adults | 6 |
| 2023-08-02 | 2023-Q2 | Lifetime risk of developing symptomatic knee OA | 45 percent | 6 |
| 2023-08-02 | 2023-Q2 | Individuals under age 45 with symptomatic knee OA | nearly two million | 6 |
| 2023-08-02 | 2023-Q2 | Individuals in the U.S. with symptomatic knee OA | 14 million | 6 |
| 2023-08-02 | 2023-Q2 | Flexion 2024 Notes outstanding principal | 8.6 million | 6 |
| 2023-08-02 | 2023-Q2 | Fair value of 2025 Notes | 926 per $1,000 principal amount | 6 |
| 2023-08-02 | 2023-Q2 | Cash provided by operations (Q2 2023) | 43.5 million | 7 |
| 2023-08-02 | 2023-Q2 | Cash provided by operations (Q2 2022) | 29.8 million | 7 |
| 2023-08-02 | 2023-Q2 | Cash and cash equivalents and available-for-sale investments | 220.8 million | 6 |
| 2023-08-02 | 2023-Q2 | Cash and cash equivalents | 86,810 (USD in thousands) | 7 |
| 2023-08-02 | 2023-Q2 | Available-for-sale investments (short-term) | 133,956 (USD in thousands) | 7 |
| 2023-08-02 | 2023-Q2 | Accumulated deficit | -142.5 million | 6 |
| 2023-08-02 | 2023-Q2 | 2025 Notes outstanding principal | 402.5 million | 6 |
| 2023-05-03 | 2023-Q1 | Total cash and investments | 182.3 (USD millions) | 5 |
| 2023-05-03 | 2023-Q1 | Cash provided by operations | 19.1 | 5 |
| 2023-05-03 | 2023-Q1 | Cash and cash equivalents | 35,545 (USD in thousands) | 5 |
| 2023-05-03 | 2023-Q1 | Available-for-sale investments (short-term) | 138,454 (USD in thousands) | 5 |
| 2023-05-03 | 2023-Q1 | Available-for-sale investments (noncurrent) | 8,281 (USD in thousands) | 5 |
Advertisement
Guidance Tracking (latest per metric/period · 14/26)#
All management forecasts (guidance) and their later outcome. Types: fiscal-year targets as well as quarterly/half-year targets; per metric and period the most recent statement applies, older versions can be expanded. The status is checked automatically against the actuals reported later: open (period still running), met, beaten, missed. For ranges (“X to Y”) reaching the range counts. Logged neutrally, no estimate of our own, no assessment.
Actuals: revenue in $m
| For period | Guided on | Metric | Guided | Actual | Verdict | Direction | Source |
|---|---|---|---|---|---|---|---|
| FY2030 | 2025-01-10 | Gross margin (GAAP) | Five percentage point gross margin improvement over 2024 | – | pending | initiated | 19 |
| FY2026 | 2026-08-04 | Non-GAAP SG&A expense | 310–330 | – | pending | cut | 34 |
| FY2026 | 2026-08-04 | Stock-based compensation | 54–59 | – | pending | cut | 34 |
| FY2026 | 2026-04-30 | Non-GAAP research and development expense | 105–115 | – | pending | confirmed | 32 |
| FY2026 | 2026-04-30 | Non-GAAP selling, general and administrative expense | 320–340 | – | pending | confirmed | 32 |
| FY2026 | 2026-02-26 | Revenue | 735–760 | – | pending | cut | 34 |
| FY2026 | 2026-02-26 | Gross margin (non-GAAP) | 77–79% | – | pending | confirmed | 34 |
| FY2026 | 2026-02-26 | EXPAREL net product sales | 600–620 | – | pending | confirmed | 34 |
| FY2026 | 2026-02-26 | Non-GAAP R&D expense | 105–115 | – | pending | confirmed | 34 |
| FY2025 | 2025-11-06 | Revenue | 725–735 | 726.4 | in line | cut | 27 |
| FY2025 | 2025-11-06 | Gross margin (non-GAAP) | 80–82% | – | – | raised | 27 |
| FY2025 | 2025-11-06 | Non-GAAP R&D expense | 95–105 | – | – | confirmed | 27 |
| FY2025 | 2025-11-06 | Non-GAAP SG&A expense | 310–320 | – | – | raised | 27 |
| FY2025 | 2025-11-06 | Stock-based compensation | 56–59 | – | – | confirmed | 27 |
| FY2024 | 2024-02-29 | Revenue | 680–705 | 701 | in line | confirmed | 16 |
| FY2024 | 2024-02-29 | Gross margin (non-GAAP) | 74–76% | – | – | confirmed | 18 |
| FY2024 | 2024-02-29 | Non-GAAP R&D expense | 70–80 | – | – | confirmed | 18 |
| FY2024 | 2024-02-29 | Non-GAAP SG&A expense | 245–265 | – | – | confirmed | 18 |
| FY2024 | 2024-02-29 | Stock-based compensation | 50–55 | – | – | confirmed | 18 |
| FY2023 | 2023-11-02 | EXPAREL net product sales | 535–540 | – | – | cut | 9 |
| FY2023 | 2023-08-02 | Gross margin (non-GAAP) | 73–74% | – | – | confirmed | 9 |
| FY2023 | 2023-08-02 | ZILRETTA net product sales | 110–115 | – | – | confirmed | 9 |
| FY2023 | 2023-08-02 | Stock-based compensation | 46–49 | – | – | confirmed | 9 |
| FY2023 | 2023-02-28 | iovera° net product sales | 17–20 | – | – | confirmed | 5 |
| FY2023 | 2023-02-28 | Non-GAAP R&D expense | 70–80 | – | – | confirmed | 5 |
| FY2023 | 2023-02-28 | Non-GAAP SG&A expense | 220–230 | – | – | confirmed | 5 |
Advertisement
Development#
A condensed summary per reporting period as running text: what changed operationally, which drivers management names, how earnings and cash flow developed. Most recent period first, grouped by year; each text is written from the original report of that period, superscript numbers lead to the source.
FY2026
Pacira BioSciences generated total revenues of $177.4 million in Q1 2026 and $192.4 million in Q2 2026, representing year-over-year growth of 5% and 6% respectively, driven by volume increases across EXPAREL, ZILRETTA, and iovera° 31 32 34. Gross margin contracted modestly, with Q1 at 79% (down one percentage point versus the prior year due to higher EXPAREL product costs from lower production volumes) and Q2 at 77% (flat versus the prior year period) 31 33. The company divested its iovera° business to Zimmer Biomet in July 2026 for upfront cash consideration plus milestone payments of up to $70 million, and UnitedHealthcare expanded separate reimbursement for EXPAREL across outpatient settings covering approximately 150 million lives 33 34. PCRX-201 received RMAT designation from the FDA and ATMP designation from the EMA, and manufacturing transitioned to a U.S.-based scalable commercial process as Phase 2 ASCEND study enrollment advanced 31 33. Full-year 2026 guidance was reiterated following Q1, targeting EXPAREL net product sales of $600-620 million and total revenues of $745-770 million 32.
FY2025
Pacira Biosciences reported total revenues of $726.4 million in fiscal year 2025, a 4% increase from $701.0 million in 2024, with EXPAREL net product sales rising 5% to $575.1 million on 6% gross vial volume growth 29. ZILRETTA net product sales declined 1% to $116.6 million due to a 4% volume decrease, while iovera° grew 6% to $24.2 million on 7% Smart Tip volume growth 29. Full-year gross margin expanded to 79% from 76% in 2024, described as the highest level in the company's history, driven by lower EXPAREL inventory reserves and improved ZILRETTA product costs from higher manufacturing volumes, partially offset by accelerated depreciation from decommissioning of the 45-liter manufacturing suite 29 30. Full-year GAAP net income reached $7.0 million compared to a net loss of $99.6 million in 2024; the prior-year loss reflected a $163.2 million goodwill impairment triggered by FDA approval of a generic EXPAREL competitor and a patent invalidation ruling 29. Key strategic developments included the launch of the 5x30 growth plan targeting three million patients annually by 2030, the acquisition of GQ Bio Therapeutics GmbH consolidating the PCRX-201 gene therapy program, a co-promotion agreement with Johnson & Johnson MedTech for ZILRETTA, and completion of Phase 2 Part A enrollment for PCRX-201 in knee osteoarthritis 29.
FY2024
Pacira BioSciences generated FY2024 total revenues of $701.0 million, a 4% increase from $675.0 million in 2023, with EXPAREL net product sales of $549.0 million (+2%), ZILRETTA of $118.1 million (+6%), and iovera° of $22.8 million (+16%) 21. Full-year gross margin improved to 76% from 73% and adjusted EBITDA grew 4% to $223.9 million, while operating cash flow rose to $189.4 million from $154.6 million in the prior year 21. The GAAP result was a net loss of $99.6 million, driven by a $163.2 million non-cash goodwill impairment charge recorded in Q3 2024 following FDA approval of a generic EXPAREL competitor in July 2024 and a U.S. District Court ruling invalidating one EXPAREL patent in August 2024 20 21. In November 2024, CMS confirmed that both EXPAREL and iovera° qualify for separate Medicare reimbursement under the NOPAIN Act effective January 1, 2025, and earlier in the year PCRX-201 received FDA Regenerative Medicine Advanced Therapy designation as the first gene therapy candidate for osteoarthritis 20. In January 2025, the company announced a five-year 5x30 strategic plan targeting double-digit revenue CAGR and treatment of more than three million patients annually by 2030 19.
FY2023
Pacira BioSciences reported full-year 2023 total revenue of $675.0 million, a 1% increase from $666.8 million in 2022, with growth across all three product lines 10. EXPAREL net product sales reached $538.1 million, growing approximately 5% on average daily volume, though enrollment in the 340B Drug Pricing Program and expanded contracted relationships weighed on net selling prices throughout the year 11. ZILRETTA contributed $111.1 million (up 5.3%) and iovera° $19.7 million (up 28.4%) to full-year net product sales 10. Gross margin improved three percentage points to 73% in 2023, primarily due to lower inventory reserves and reduced royalty expense compared to 2022, partially offset by EXPAREL price pressure from increased 340B discounting 11. Full-year GAAP net income reached $42.0 million ($0.89 diluted EPS) and operating cash flow was $154.6 million; in November 2023 the FDA approved an EXPAREL label expansion for lower extremity nerve block indications, and in March 2023 the company replaced a $287.5 million term loan with a $150.0 million facility at an interest rate 400 basis points lower 11 12 4.
Advertisement
Sources: official investor relations documents#
All original documents used, with type (e.g. quarterly, half-year, annual report), publication date and a direct link to the filing (EDINET/SEC/IR). Every superscript number in the report points to an entry in this list; so every figure can be traced back to its place in the original.
53 documents · 2016 – 2026 · SEC EDGAR (USA)
| # | Document type | Published | Link |
|---|---|---|---|
| #1 | 8-K-EX99.1 | 2023-01-05 | Open |
| #2 | 10-K | 2023-02-28 | Open |
| #3 / #103 | 8-K-EX99.1 | 2023-02-28 | Open |
| #4 | 10-Q | 2023-05-03 | Open |
| #5 / #105 | 8-K-EX99.1 | 2023-05-03 | Open |
| #6 | 10-Q | 2023-08-02 | Open |
| #7 / #107 | 8-K-EX99.1 | 2023-08-02 | Open |
| #8 | 10-Q | 2023-11-02 | Open |
| #9 / #109 | 8-K-EX99.1 | 2023-11-02 | Open |
| #10 | 8-K-EX99.1 | 2024-01-04 | Open |
| #11 | 10-K | 2024-02-29 | Open |
| #12 / #112 | 8-K-EX99.1 | 2024-02-29 | Open |
| #13 | 10-Q | 2024-05-07 | Open |
| #14 / #114 | 8-K-EX99.1 | 2024-05-07 | Open |
| #15 | 10-Q | 2024-07-30 | Open |
| #16 / #116 | 8-K-EX99.1 | 2024-07-30 | Open |
| #17 | 10-Q | 2024-11-06 | Open |
| #18 / #118 | 8-K-EX99.1 | 2024-11-06 | Open |
| #19 | 8-K-EX99.1 | 2025-01-10 | Open |
| #20 | 10-K | 2025-02-27 | Open |
| #21 / #121 | 8-K-EX99.1 | 2025-02-27 | Open |
| #22 | 10-Q | 2025-05-08 | Open |
| #23 | 8-K-EX99.1 | 2025-05-08 | Open |
| #24 | 10-Q | 2025-08-05 | Open |
| #25 | 8-K-EX99.1 | 2025-08-05 | Open |
| #26 | 10-Q | 2025-11-06 | Open |
| #27 | 8-K-EX99.1 | 2025-11-06 | Open |
| #28 | 8-K-EX99.1 | 2026-01-08 | Open |
| #29 | 10-K | 2026-02-26 | Open |
| #30 / #130 | 8-K-EX99.1 | 2026-02-26 | Open |
| #31 | 10-Q | 2026-04-30 | Open |
| #32 | 8-K-EX99.1 | 2026-04-30 | Open |
| #33 | 10-Q | 2026-08-04 | Open |
| #34 | 8-K-EX99.1 | 2026-08-04 | Open |
Older sources (+19)
| # | Document type | Published | Link |
|---|---|---|---|
| #202 | 10-K | 2016-05-02 | Open |
| #201 | 10-Q | 2016-08-04 | Open |
| #204 | 10-K | 2017-03-01 | Open |
| #208 | 10-K | 2017-03-01 | Open |
| #203 | 10-Q | 2017-08-02 | Open |
| #212 | 10-K | 2018-02-28 | Open |
| #205 | 10-Q | 2018-05-03 | Open |
| #206 | 10-Q | 2018-08-02 | Open |
| #207 | 10-Q | 2018-11-01 | Open |
| #216 | 10-K | 2019-02-28 | Open |
| #209 | 10-Q | 2019-05-02 | Open |
| #210 | 10-Q | 2019-08-08 | Open |
| #211 | 10-Q | 2019-11-08 | Open |
| #213 | 10-Q | 2020-05-07 | Open |
| #214 | 10-Q | 2020-08-06 | Open |
| #215 | 10-Q | 2020-10-30 | Open |
| #217 | 10-Q | 2021-05-04 | Open |
| #218 | 10-Q | 2021-08-03 | Open |
| #219 | 10-Q | 2021-11-03 | Open |
FAQ#
Is there a management forecast (guidance) for FY2026?
Yes. Management has issued targets for FY2026, including Non-GAAP SG&A expense. The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.
Where can I find the official investor relations documents of Pacira Biosciences Inc.?
The sources chapter links all 63 original filings used (SEC filings) with type, publication date and a direct link; every figure in the report carries a source number.
More reports#
Recently updated
Advertisement