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PARSIPPANY, N.J. - Pacira BioSciences, Inc. (NASDAQ:PCRX), a company specializing in non-opioid pain therapies with annual revenues of $701 million, today confirmed that DOMA Perpetual Capital Management LLC has nominated three candidates for election to the Pacira Board of Directors at the upcoming 2025 Annual Meeting of Stockholders. The company, which recently completed a comprehensive portfolio review and launched its "5x30" strategic plan, stated that its Board’s Nominating, Governance and Sustainability Committee will evaluate DOMA’s nominees alongside other director candidates. According to InvestingPro data, the stock has shown strong momentum with a 73% gain over the past six months, and analysts suggest the company could return to profitability this year.
Pacira’s Board and management team emphasized their commitment to enhancing shareholder value through decisive actions, including the "5x30" plan, which is designed to optimize shareholder returns. The company will present its formal recommendation on director nominees in the definitive proxy statement, which will be filed with the Securities and Exchange Commission (SEC) and distributed to eligible shareholders. The exact date for the Annual Meeting has not yet been announced, and shareholders are not required to take any action at this time.
Pacira, known for its portfolio of commercial-stage non-opioid treatments such as EXPAREL®, ZILRETTA®, and the iovera° device, is also advancing the development of PCRX-201, a gene therapy candidate for diseases like osteoarthritis. The company maintains a healthy financial position with a current ratio of 2.4 and operates with moderate debt levels, according to InvestingPro’s financial health analysis, which rates the company’s overall financial health as "GOOD." The company’s financial and legal advisors, Evercore and Wachtell, Lipton, Rosen & Katz respectively, are providing guidance during this period.
The announcement comes as Pacira continues to focus on expanding the use of its existing products and developing new treatments using its proprietary drug delivery technology. While the company is optimistic about its growth and business strategy, it remains cautious in its forward-looking statements, acknowledging the various risks and uncertainties that could affect its operations and financial results.
Investors and stockholders are advised to read all relevant documents filed with or furnished to the SEC, including Pacira’s definitive proxy statement and any amendments and supplements, as they will contain important information regarding the proxy solicitation for the 2025 Annual Meeting. For comprehensive analysis and additional insights, investors can access Pacira’s detailed Pro Research Report, available exclusively on InvestingPro, which includes expert analysis of the company’s financial health, valuation metrics, and growth prospects.
This news is based on a press release statement from Pacira BioSciences.
In other recent news, Pacira Pharmaceuticals reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.91 compared to the forecasted $0.79. The company also reported revenue of $187.3 million, exceeding the anticipated $180.22 million. Pacira’s revenue guidance for 2025 is set between $725 million and $765 million, aligning with analysts’ expectations. The company completed the acquisition of the remaining 81% stake in GQ Bio for $32 million, which supports its strategic "5x30" plan. Needham raised its price target for Pacira to $32, maintaining a buy rating, while H.C. Wainwright increased its target to $48, citing conservative revenue guidance and positive developments for Exparel. Additionally, DOMA Perpetual Capital Management nominated three directors to Pacira’s board, aiming to improve financial and legal expertise. These developments reflect Pacira’s strategic initiatives and ongoing efforts to enhance shareholder value.
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