Business
Pacira Reports Record Fourth Quarter and Full-Year Revenues
— Full-year 2019 revenue increases 25 percent to $421 million versus 2018 —— Total 2020 revenue guidance of between $485 million and $500 million ——
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"— Full-year 2019 revenue increases 25 percent to $421 million versus 2018 —— Total 2020 revenue guidance of between $485 million and $500 million —— Anesthesia-driven regional approaches are expanding and driving strong EXPAREL growth —— Conference call today at 8:30 a.m. ET —\n PARSIPPANY, N.J., Feb. 20, 2020 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX) today reported financial results for the fourth quarter and full-year of 2019 and provided 2020 financial guidance. “By every measure, 2019 was an outstanding year for Pacira. We are delighted to report record revenues for EXPAREL® with our sixth consecutive quarter of more than 20 percent growth,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “Demand has continued to mount within the anesthesia community as EXPAREL-based nerve and field blocks take hold as institutional protocol. Additionally, we enhanced our non-opioid pain management product portfolio with the addition of iovera°® and we are seeing great interest from the marketplace around this innovative system.” “Looking forward, we intend to capitalize on this momentum with robust topline growth that will drive substantial operating leverage and cash flow, providing significant financial flexibility to invest in future growth opportunities. Our mission for 2020 remains steadfast as we continue to propel our global leadership in non-opioid pain management and deliver multiple milestones, including the publication of new data in C-section, label-expansion initiatives for pediatrics and lower extremity nerve block, and the advancement of regulatory activities in Europe, Canada, and China,” added Mr. Stack. 2019 Full-Year and Fourth Quarter Financial Highlights Full-year revenues of $421.0 million and fourth quarter revenues of $122.4 million.Full-year EXPAREL® (bupivacaine liposome injectable suspension) net product sales of $407.9 million and fourth quarter EXPAREL net product sales of $116.9 million.Full-year iovera° net product sales were $7.9 million and fourth quarter iovera° net product sales of $3.2 million. Pacira began recognizing sales of iovera° in April 2019 after completing its acquisition of MyoScience, Inc., a privately held medical technology company.Full-year GAAP net loss of $11.0 million or $0.27 per share (basic and diluted).Full-year non-GAAP net income of $7...