Business
Pacira BioSciences Reports First Quarter 2022 Financial Results
-- First quarter revenue of $158 million, up 33% over prior year ---- Strong topline performance delivers net income and significantly positive adjusted
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"-- First quarter revenue of $158 million, up 33% over prior year ---- Strong topline performance delivers net income and significantly positive adjusted EBITDA ---- Conference call today at 8:30 a.m. ET -- TAMPA, Fla., May 04, 2022 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its commitment to non-opioid pain management and regenerative health solutions, today reported financial results for the first quarter of 2022. First Quarter 2022 Financial Highlights Total revenues of $158.0 millionNet product sales of $129.2 million for EXPAREL, $23.6 million for ZILRETTA, and $3.0 million for iovera°Net income of $6.8 million, or $0.15 per share (basic and diluted)Adjusted EBITDA of $53.8 million, or $1.20 per share (basic) and $1.16 per share (diluted) “We were delighted to end the first quarter of 2022 with record high EXPAREL sales for the month of March, which underscores the significant progress we continue to make despite operational headwinds in the elective surgery market due to COVID and labor-related disruptions,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “The successful integration of the Flexion acquisition was evidenced by strong ZILRETTA sales in the first quarter, which we expect to be an important near- and long-term contributor to earnings.” “We look forward to completing our two Phase 3 studies of EXPAREL for lower extremity nerve block and to launching new high-potential registration programs evaluating EXPAREL as a stellate ganglion block for cardiac dysrhythmia. Additionally, as the market moves rapidly toward ultrasound-guided iovera° blocks delivered by pain management specialists, we plan to use our IGOR registry to publish real-world evidence to better support our commercial initiatives,” continued Mr. Stack. Recent Business Highlights Daryl Gaugler Appointed Chief Operating Officer. Today the company is announcing the appointment of Daryl Gaugler to the position of Chief Operating Officer effective May 4, 2022. Mr. Gaugler has served as the company’s Senior Vice President of Commercial Operations since June 2019. Mr. Gaugler is a seasoned life sciences executive with 30 years of experience in commercial leadership that includes building and directing over 400 commercial teams and designing go-to-market strategies for more than 20 companies...