Pacira BioSciences Files Q2 2024 10-Q

TL;DR

Pacira BioSciences filed its Q2 2024 10-Q, check financials.

AI Summary

Pacira BioSciences, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and business operations for the second quarter and the first half of the year. Key financial data and operational updates are presented, reflecting the company's ongoing activities in the pharmaceutical sector.

Why It Matters

This filing provides investors with crucial financial and operational insights into Pacira BioSciences' performance for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Pacira BioSciences faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20240730 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Pacira BioSciences, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240730 (date) — Filing date
• 5401 WEST KENNEDY BOULEVARD (address) — Company's business and mailing address
• TAMPA (location) — Company's city
• DE (location) — State of incorporation

FAQ

Key Financial Figures

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

Filing Documents

• pcrx-20240630.htm (10-Q) — 1619KB
• pcrx-exhibit103x6x30x2024.htm (EX-10.3) — 17KB
• pcrx-6302024xex311.htm (EX-31.1) — 12KB
• pcrx-6302024xex312.htm (EX-31.2) — 12KB
• pcrx-6302024xex321.htm (EX-32.1) — 8KB
• pcrx-20240630_g1.jpg (GRAPHIC) — 27KB
• pcrx-20240630_g2.jpg (GRAPHIC) — 188KB
• 0001396814-24-000098.txt ( ) — 9841KB
• pcrx-20240630.xsd (EX-101.SCH) — 56KB
• pcrx-20240630_cal.xml (EX-101.CAL) — 84KB
• pcrx-20240630_def.xml (EX-101.DEF) — 379KB
• pcrx-20240630_lab.xml (EX-101.LAB) — 775KB
• pcrx-20240630_pre.xml (EX-101.PRE) — 574KB
• pcrx-20240630_htm.xml (XML) — 1392KB

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 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 11 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 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 49

OTHER INFORMATION

PART II. OTHER INFORMATION 50 Item 1.

Legal Proceedings

Legal Proceedings 50 Item 1A.

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50 Item 3. Defaults Upon Senior Securities 51 Item 4. Mine Safety Disclosures 51 Item 5. Other Information 51 Item 6. Exhibits 51

Signatures

Signatures 53 Pacira BioSciences, Inc. | Q2 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) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 247,053 $ 153,298 Short-term available-for-sale investments 157,173 125,283 Accounts receivable, net 104,779 105,556 Inventories, net 103,438 104,353 Prepaid expenses and other current assets 19,771 21,504 Total current assets 632,214 509,994 Noncurrent available-for-sale investments — 2,410 Fixed assets, net 168,850 173,927 Right-of-use assets, net 56,264 61,020 Goodwill 163,243 163,243 Intangible assets, net 454,614 483,258 Deferred tax assets 135,136 144,485 Investments and other assets 36,499 36,049 Total assets $ 1,646,820 $ 1,574,386 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 18,730 $ 15,698 Accrued expenses 64,811 64,243 Lease liabilities 9,149 8,801 Current portion of convertible senior notes, net — 8,641 Total current liabilities 92,690 97,383 Convertible senior notes, net 479,549 398,594 Long-term debt, net 109,751 115,202 Lease liabilities 50,146 54,806 Contingent consideration 22,401 24,698 Other liabilities 13,005 13,573 Total liabilities 767,542 704,256 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, par value $ 0.001 ; 5,000,000 shares authorized; none issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, par value $ 0.001 ; 250,000,000 shares authorized; 46,954,599 shares issued and 46,117,359 shares outstanding at June 30, 2024 and 46,481,174 shares issued and outstanding at December 31, 2023 47 46 Treasury stock, at cost, 837,240 and zero shares at June 30, 2024 and December 31, 2023, respectively, inclusive of excise tax ( 25,121 ) — Additional paid-in capital 983,178 976,633 Accumulated deficit ( 78,931 ) ( 106,796 ) Accumulated other comprehensive income 105 24

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View this 10-Q filing on SEC EDGAR