Pacira BioSciences, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Pacira BioSciences, Inc. has filed its 2023 10-K report detailing its financial performance and corporate information.</b>

AI Summary

Pacira BioSciences, Inc. (PCRX) filed a Annual Report (10-K) with the SEC on February 29, 2024. Pacira BioSciences, Inc. filed its 2023 Form 10-K on February 29, 2024, reporting for the fiscal year ended December 31, 2023. The company's principal executive offices are located at 5401 West Kennedy Boulevard, Suite 890, Tampa, Florida. Pacira BioSciences, Inc. was formerly known as Pacira Pharmaceuticals, Inc., with a name change effective October 29, 2010. The filing includes financial data for the fiscal years ending December 31, 2023, 2022, and 2021. The SIC code for Pacira BioSciences, Inc. is 2834, Pharmaceutical Preparations.

Why It Matters

For investors and stakeholders tracking Pacira BioSciences, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Pacira BioSciences' financial health, operational activities, and strategic direction for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed financial statements and risk factors within the report are essential for stakeholders to understand the company's market position, potential challenges, and regulatory compliance within the pharmaceutical industry.

Risk Assessment

Risk Level: medium — Pacira BioSciences, Inc. shows moderate risk based on this filing. The company operates in the highly regulated pharmaceutical industry, facing risks related to drug development, clinical trials, regulatory approvals, and market competition, as detailed in its 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Pacira BioSciences' performance and potential growth opportunities in the pharmaceutical sector.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-29 — Filing Date (As of date)
• 2834 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Pacira BioSciences, Inc. (company) — Filer name
• 2023 (date) — Fiscal year end
• February 29, 2024 (date) — Filing date
• Tampa, Florida (location) — Business address city and state
• 2834 (other) — Standard Industrial Classification
• Pacira Pharmaceuticals, Inc. (company) — Former company name

FAQ

Industry Context

Pacira BioSciences operates within the pharmaceutical preparations industry, focusing on developing and commercializing products for healthcare.

Regulatory Implications

As a pharmaceutical company, Pacira BioSciences is subject to stringent regulations from bodies like the FDA regarding drug development, manufacturing, and marketing.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the risk factors section to understand potential challenges and uncertainties.
3. Compare 2023 financial performance against previous years (2022, 2021) for trend analysis.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K
• 2024-02-29: Filing Date — Date the 10-K was filed

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K), following previous filings such as quarterly reports (10-Q) and other current reports.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share PCRX Nasdaq Global Select Mar
• $40.07 — tly completed second fiscal quarter, of $40.07 per share was approximately $ 1.3 billi

Filing Documents

• pcrx-20231231.htm (10-K) — 2740KB
• exhibit41.htm (EX-4.1) — 2KB
• exhibit105-employeersuagre.htm (EX-10.5) — 39KB
• exhibit106-nonxemployeedir.htm (EX-10.6) — 35KB
• ex108-ar2014inducementplan.htm (EX-10.8) — 26KB
• ex109-ar2014inducementplan.htm (EX-10.9) — 37KB
• exhibit1022-indemnificatio.htm (EX-10.22) — 74KB
• exhibit1023-ics.htm (EX-10.23) — 591KB
• ex1032-zilrettafirstamendm.htm (EX-10.32) — 24KB
• ex1033-zilrettasecondamend.htm (EX-10.33) — 121KB
• ex1034-zilrettathirdamendm.htm (EX-10.34) — 144KB
• pcrx-12312023xex211.htm (EX-21.1) — 7KB
• pcrx-12312023xex231.htm (EX-23.1) — 6KB
• pcrx-12312023xex311.htm (EX-31.1) — 9KB
• pcrx-12312023xex312.htm (EX-31.2) — 9KB
• pcrx-12312023xex321.htm (EX-32.1) — 6KB
• exhibit97-incentivecompens.htm (EX-97) — 36KB
• kpmgsignaturea.jpg (GRAPHIC) — 9KB
• pcrx-20231231_g1.jpg (GRAPHIC) — 27KB
• pcrx-20231231_g2.jpg (GRAPHIC) — 131KB
• pcrx-20231231_g3.jpg (GRAPHIC) — 255KB
• pcrx_specimenxfront.jpg (GRAPHIC) — 944KB
• pcrx_specimenxreverse.jpg (GRAPHIC) — 373KB
• 0001396814-24-000030.txt (&nbsp;) — 18120KB
• pcrx-20231231.xsd (EX-101.SCH) — 92KB
• pcrx-20231231_cal.xml (EX-101.CAL) — 126KB
• pcrx-20231231_def.xml (EX-101.DEF) — 565KB
• pcrx-20231231_lab.xml (EX-101.LAB) — 1232KB
• pcrx-20231231_pre.xml (EX-101.PRE) — 844KB
• pcrx-20231231_htm.xml (XML) — 2111KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 35 Item 1B. Unresolved Staff Comments 70 Item 1C. Cybersecurity 70 Item 2.

Properties

Properties 71 Item 3.

Legal Proceedings

Legal Proceedings 71 Item 4. Mine Safety Disclosures 71 PART II 72 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 72 Item 6. Reserved 73 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 73 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 84 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 85 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 85 Item 9A.

Controls and Procedures

Controls and Procedures 85 Item 9B. Other Information 86 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 86 PART III 86 Item 10. Directors, Executive Officers and Corporate Governance 87 Item 11.

Executive Compensation

Executive Compensation 87 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 87 Item 13. Certain Relationships and Related Transactions, and Director Independence 87 Item 14. Principal Accountant Fees and Services 88 PART IV 88 Item 15. Exhibits, Financial Statement Schedules 88 Item 16. Form 10-K Summary 91 Pacira BioSciences, Inc. | 2023 Form 10-K | Page 3 Table of Content s Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K (the "Annual Report") and certain other communications made by us contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to: the Flexion Acquisition (as defined below) and the costs and benefits thereof, our growth and future operating results and trends, our strategy, plans, objectives, expectations (financial or otherwise) and intentions, future financial results and growth potential, including our plans with respect to the repayment of our indebtedness, anticipated product portfolio, development programs, patent terms, development of products, strategic alliances and intellectual property and any other statements that are not historical facts. For this purpose, any statement that is not a statement of historical fact should be considered a forward-looking statement. We often use the words "believe," "anticipate," "plan," "estimate," "expect," "intend," "may," "will," "would," "could," "can" and similar expressions to help identify forward-looking statements. We cannot assure you that our estimates, assumptions and expectations will prove to have been correct. Actual results may differ materially from these indicated by such forward-looking statements as a result of various important factors, including risks relating to, among others: the integration of our new chief exec

Business

Item 1. Business References Pacira BioSciences, Inc., a Delaware corporation, is the holding company for our California operating subsidiary named Pacira Pharmaceuticals, Inc. In March 2007, we acquired Pacira Pharmaceuticals, Inc. from SkyePharma Holdings, Inc. (now a subsidiary of Vectura Group plc), or Skyepharma (the "Skyepharma Acquisition"). In April 2019, we acquired MyoScience, Inc., a privately held medical technology company (the "MyoScience Acquisition") and in November 2021, we acquired Flexion Therapeutics, Inc., or Flexion, a publicly traded biopharmaceutical company (the "Flexion Acquisition"). Unless the context requires otherwise, references to "Pacira," "we," the "Company," "us" and "our" in this Annual Report refers to Pacira BioSciences, Inc., a Delaware corporation, and its subsidiaries. Corporate Information We were incorporated in Delaware under the name Blue Acquisition Corp. in December 2006 and changed our name to Pacira, Inc. in June 2007. In October 2010, we changed our name to Pacira Pharmaceuticals, Inc. and in April 2019, we changed our name to Pacira BioSciences, Inc. Our principal executive offices and corporate headquarters are located in Tampa, Florida. Trademarks and Service Marks Pacira , EXPAREL , ZILRETTA , iovera , the Pacira logo and other trademarks or service marks of Pacira appearing in this Annual Report are the property of Pacira, and when first used in each part of this Annual Report, include the symbol. This Annual Report contains additional trade names, trademarks and service marks of other companies, which may or may not appear with the or symbol. The absence of these symbols does not in any way imply that the respective owner(s) will not assert their rights to such marks to the fullest extent under applicable law. Our use of trademarks or trade names of other companies should not suggest any endorsement, sponsorship or other relationship with or by such companies. Overview As the therapeutic area leader in

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View this 10-K filing on SEC EDGAR