Business
Pacira BioSciences Reports Record Revenue of $135.6 Million for the Second Quarter of 2021
-- EXPAREL average daily sales at 178% of the prior year second quarter ---- Conference call today at 8:30 a.m. ET -- PARSIPPANY, N.J., Aug. 03, 2021 (GLOBE
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"-- EXPAREL average daily sales at 178% of the prior year second quarter ---- Conference call today at 8:30 a.m. ET -- PARSIPPANY, N.J., Aug. 03, 2021 (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 second quarter of 2021. Second Quarter 2021 Financial Highlights Total revenues of $135.6 millionGAAP net income of $19.1 million, or $0.43 per share (basic) and $0.42 (diluted)Non-GAAP Adjusted EBITDA of $50.3 million “We made terrific progress in the first half of 2021 with strong sales momentum in the second quarter and continuing in recent weeks,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “Record revenue in the second quarter significantly ramped our bottom line, allowing us to achieve our highest-ever adjusted EBITDA for a quarter. Market dynamics remain highly favorable and leave us confident that we will deliver robust topline growth, improved margins, and accelerating earnings for the remainder of 2021, leaving us well-positioned to achieve the goals laid out within our five-year plan.” Second Quarter 2021 Financial Results Total revenues were $135.6 million in the second quarter of 2021, versus the $75.5 million reported for the second quarter of 2020.EXPAREL net product sales were $130.1 million in the second quarter of 2021, versus the $73.0 million reported for the second quarter of 2020.Second quarter 2021 iovera° net product sales were $3.8 million, versus the $1.4 million reported for the second quarter of 2020.Sales of bupivacaine liposome injectable suspension to a third-party licensee for use in veterinary practice were $1.0 million in the second quarter of 2021, versus the $0.8 million in the second quarter of 2020.Second quarter 2021 royalty and collaborative licensing and milestone revenues were $0.7 million, versus the $0.3 million in the second quarter of 2020.Total operating expenses were $100.7 million in the second quarter of 2021, compared to $82.7 million in the second quarter of 2020.Research and development (R&D) expenses were $12.6 million in the second quarter of 2021, compared to $13.6 million in the second quarter of 2020. R&D expenses included $4.6 million and $6.1 million of product development and manufacturin...