Pacira BioSciences, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Pacira BioSciences, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

Pacira BioSciences, Inc. (PCRX) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Pacira BioSciences, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. The filing is dated May 7, 2024. The company was formerly known as Pacira Pharmaceuticals, Inc., PACIRA INC, and Blue Acquisition Corp. The Standard Industrial Classification code is 2834 (Pharmaceutical Preparations).

Why It Matters

For investors and stakeholders tracking Pacira BioSciences, Inc., this filing contains several important signals. This 10-Q filing provides investors with the most recent financial performance and operational updates for Pacira BioSciences, Inc. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: medium — Pacira BioSciences, Inc. shows moderate risk based on this filing. The company's financial performance and future outlook are subject to the inherent risks and uncertainties of the pharmaceutical industry, including product development, market competition, and regulatory approvals, as detailed in the 10-Q filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-Q to assess Pacira BioSciences' current financial health and future growth prospects.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly report)
• 2024-05-07 — Filing Date (10-Q filing)
• 2834 — SIC Code (Pharmaceutical Preparations)

Key Players & Entities

• Pacira BioSciences, Inc. (company) — Filer name
• PCRX (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-07 (date) — Filed as of date
• 2834 (industry) — Standard Industrial Classification
• Pacira Pharmaceuticals, Inc. (company) — Former company name
• PACIRA INC (company) — Former company name
• Blue Acquisition Corp (company) — Former company name

FAQ

Industry Context

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

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Analyze the financial statements within the 10-Q for revenue, net income, and cash flow trends.
2. Review any disclosed risk factors to understand potential challenges and their impact on the company.
3. Compare the current quarter's performance to previous periods to identify growth or decline patterns.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q
• 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during the quarter.)

Standard Industrial Classification (SIC)

A system used to classify business establishments by the type of activity in which they are engaged. (Helps categorize companies within specific industries, like pharmaceutical preparations.)

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first set of quarterly financial data for the year.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share PCRX Nasdaq Global Select Mar

Filing Documents

• pcrx-20240331.htm (10-Q) — 1254KB
• pcrx-3312024xex311.htm (EX-31.1) — 12KB
• pcrx-3312024xex312.htm (EX-31.2) — 12KB
• pcrx-3312024xex321.htm (EX-32.1) — 8KB
• pcrx-20240331_g1.jpg (GRAPHIC) — 27KB
• pcrx-20240331_g2.jpg (GRAPHIC) — 132KB
• 0001396814-24-000045.txt (&nbsp;) — 8482KB
• pcrx-20240331.xsd (EX-101.SCH) — 55KB
• pcrx-20240331_cal.xml (EX-101.CAL) — 84KB
• pcrx-20240331_def.xml (EX-101.DEF) — 361KB
• pcrx-20240331_lab.xml (EX-101.LAB) — 728KB
• pcrx-20240331_pre.xml (EX-101.PRE) — 543KB
• pcrx-20240331_htm.xml (XML) — 1173KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 4 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Income (Loss) 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43

OTHER INFORMATION

PART II. OTHER INFORMATION 44 Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosures 44 Item 5. Other Information 45 Item 6. Exhibits 45

Signatures

Signatures 47 Pacira BioSciences, Inc. | Q1 2024 Form 10-Q | Page 3 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS (Unaudited)

Item 1. FINANCIAL STATEMENTS (Unaudited) PACIRA BIOSCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 184,052 $ 153,298 Short-term available-for-sale investments 141,838 125,283 Accounts receivable, net 101,639 105,556 Inventories, net 96,782 104,353 Prepaid expenses and other current assets 18,802 21,504 Total current assets 543,113 509,994 Noncurrent available-for-sale investments — 2,410 Fixed assets, net 171,804 173,927 Right-of-use assets, net 58,626 61,020 Goodwill 163,243 163,243 Intangible assets, net 468,936 483,258 Deferred tax assets 141,057 144,485 Investments and other assets 36,542 36,049 Total assets $ 1,583,321 $ 1,574,386 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 8,982 $ 15,698 Accrued expenses 66,818 64,243 Lease liabilities 9,003 8,801 Current portion of convertible senior notes, net 8,641 8,641 Total current liabilities 93,444 97,383 Convertible senior notes, net 399,210 398,594 Long-term debt, net 112,477 115,202 Lease liabilities 52,446 54,806 Contingent consideration 20,892 24,698 Other liabilities 12,690 13,573 Total liabilities 691,159 704,256 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, par value $ 0.001 ; 5,000,000 shares authorized; none issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock, par value $ 0.001 ; 250,000,000 shares authorized; 46,517,410 and 46,481,174 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 47 46 Additional paid-in capital 989,780 976,633 Accumulated deficit ( 97,817 ) ( 106,796 ) Accumulated other comprehensive income 152 247 Total stockholders' equity 892,162 870,130 Total liabilities and stockholders' equity $ 1,583,321 $ 1,574,386 See accompanying notes to condensed consolidated finan

View Full Filing

View this 10-Q filing on SEC EDGAR