Pacira BioSciences, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 08:04 am EST
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Pacira BioSciences, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 181.24 million compared to USD 171.96 million a year ago. Net income was USD 24.87 million compared to net loss of USD 10.1 million a year ago. Basic earnings per share from continuing operations was USD 0.54 compared to basic loss per share from continuing operations of USD 0.22 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to diluted loss per share from continuing operations of USD 0.22 a year ago.
For the full year, revenue was USD 674.98 million compared to USD 666.82 million a year ago. Net income was USD 41.96 million compared to USD 15.91 million a year ago. Basic earnings per share from continuing operations was USD 0.91 compared to USD 0.35 a year ago. Diluted earnings per share from continuing operations was USD 0.89 compared to USD 0.34 a year ago.
Pacira BioSciences, Inc. is a holding company for Pacira Pharmaceuticals, Inc. The Company's non-opioid treatments include EXPAREL (bupivacaine liposome injectable suspension), which is a long-acting, local analgesic for postsurgical pain management; ZILRETTA (triamcinolone acetonide extended-release injectable suspension), which is an extended-release, intra-articular (IA), corticosteroid injection indicated for OA knee pain, and Iovera, which is a novel handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve. EXPAREL is used across multiple orthopedic procedures, including joint reconstruction, shoulder, spine, extremity procedures, and hip fractures. It is developing interventions to address debilitating conditions involving the sympathetic nervous system, such as cardiac electrical storm, chronic pain. Its clinical development programs include PCRX-201, and pMVL-Based Clinical Program.