Business
Pacira BioSciences Reports Second Quarter 2020 Financial Results and Business Update
-- EXPAREL average daily sales return to year-over-year growth in month of June 2020 ---- Conference call today at 8:30 a.m. ET -- PARSIPPANY, N.J., Aug. 06,
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"-- EXPAREL average daily sales return to year-over-year growth in month of June 2020 ---- Conference call today at 8:30 a.m. ET --\n PARSIPPANY, N.J., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), a leading provider of innovative non-opioid pain management options, today reported financial results for the second quarter of 2020. “We are very pleased to report that since the peak of the impact from COVID-19 in April, we’ve seen a steady and continued increase in EXPAREL sales. This is a testimony to the resolve of our physician partners who are dedicated to ensuring that patients receive their much-needed surgeries, particularly in the ambulatory setting,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “This pandemic has accelerated the shift of inpatient procedures to the 23-hour stay environment and we are well positioned to lead the way with our innovative opioid alternatives.” “Today, we are in a stronger position than ever as we wind down our partnership with DePuy Synthes and take full ownership of the EXPAREL franchise. Our recent financing strengthens our financial foundation and supports our strategy to expand our footprint in non-opioid pain management and regenerative health solutions while simultaneously ramping the top and bottom lines,” continued Mr. Stack. Second Quarter 2020 Financial Results Total revenues were $75.5 million in the second quarter of 2020, a 26% decrease versus the $102.6 million reported for the second quarter of 2019.EXPAREL net product sales were $73.0 million in the second quarter of 2020, a 26% decrease versus the $98.9 million reported for the second quarter of 2019.Second quarter 2020 iovera° net product sales were $1.4 million, a 31% decrease versus the $2.0 million reported for the second quarter of 2019.Sales of bupivacaine liposome injectable suspension to a third-party licensee for use in veterinary practice were $0.8 million in the second quarter of 2020, compared to $0.9 million in the second quarter of 2019.Second quarter 2020 royalty revenues were $0.3 million, compared to $0.8 million in the second quarter of 2019.Total operating expenses were $82.7 million in the second quarter of 2020, compared to $97.3 million in the second quarter of 2019.Research and development (R&D) expenses were $13.6 million in the second quarter ...