Caterpillar bids for Australia’s RPMGlobal- AFR
TAMPA, Fla. - Pacira BioSciences, Inc. (NASDAQ: PCRX), a company focused on non-opioid pain therapies, has announced that new data on its gene therapy candidate, PCRX-201, will be presented at the upcoming ACR Convergence meeting. The event, organized by the American College of Rheumatology, is scheduled to take place in Washington, D.C., from November 14 to 19.
The presentation, titled "Sustained Clinical Effects After a Single Intra-articular Injection of PCRX-201 for Moderate-to-Severe Osteoarthritis of the Knee," will be delivered by Dr. Stanley Cohen, a board-certified rheumatologist, on Sunday, November 17 from 10:30 am to 12:30 pm EST.
PCRX-201 is a locally administered gene therapy designed to produce interleukin-1 receptor antagonist (IL-1Ra), aiming to reduce pain and potentially slow the structural progression of osteoarthritis in the knee by modulating the body's inflammatory response. The therapy has been recognized by the U.S. Food and Drug Administration (FDA) with a Regenerative Medicine Advanced Therapy (RMAT) designation in March 2024, indicating its potential as a significant advancement over existing therapies for osteoarthritis. Additionally, the European Medicines Agency granted it an Advanced Therapy Medicinal Products (ATMP) designation in May 2023.
Pacira's portfolio includes three commercial-stage non-opioid treatments: EXPAREL, ZILRETTA, and iovera°, alongside the development of PCRX-201. The company's efforts are part of a broader initiative to provide alternatives to opioid medications for pain management.
The information presented in this article is based on a press release statement from Pacira BioSciences.
In other recent news, Pacira Pharmaceuticals (NASDAQ:PCRX) is facing several developments. DOMA Perpetual Capital Management LLC has urged the company to adopt a more aggressive approach towards its stock repurchases, advocating for the use of its $400 million cash balance to enhance shareholder value. Pacira's Q1 2024 revenue was reported at $149 million, with Exparel contributing $118 million. The company also launched a private placement of $250 million in convertible senior notes due in 2029, projected to yield net proceeds of approximately $242 million.
Analysts' perspectives on Pacira have varied, with Jefferies raising the company's price target due to anticipation of increased estimations led by the volume acceleration of NOPAIN. However, the company faced downgrades from firms like H.C. Wainwright, RBC Capital, Raymond James, and Piper Sandler following a legal setback over its drug Exparel.
In board-related developments, Pacira decided to retain Ms. Laura Brege as a Class I director despite a majority of "withhold" votes in the 2024 Annual Meeting of Stockholders. These are among the recent developments that have shaped the trajectory of Pacira Pharmaceuticals.
InvestingPro Insights
As Pacira BioSciences, Inc. (NASDAQ: PCRX) prepares to present new data on its gene therapy candidate, PCRX-201, at the ACR Convergence meeting, investors may find it prudent to consider the company's financial health and market performance. According to recent data from InvestingPro, Pacira BioSciences has a market capitalization of approximately $636.55 million, reflecting the company's size and market value. The P/E ratio, a measure of a company's current share price relative to its per-share earnings, stands at 10.15, suggesting that investors may find the stock to be reasonably valued compared to earnings.
InvestingPro Tips highlight that management has been actively engaging in share buybacks, which can often be interpreted as a sign of confidence in the company's future prospects. Additionally, analysts predict that Pacira will be profitable this year, with net income expected to grow. This is particularly notable as the company continues to invest in the development of non-opioid pain therapies, such as PCRX-201.
Investors may also take note of the company's strong free cash flow yield, as implied by its valuation. This metric can be an indicator of the company's ability to generate cash and potentially fund future growth initiatives or return capital to shareholders. Moreover, Pacira's liquid assets exceed its short-term obligations, providing a cushion for financial flexibility.
While the stock has experienced a significant decline over the last three months, with a price total return of -49.62%, this could present a potential opportunity for investors who believe in the long-term value proposition of the company's product pipeline and market strategy. It's worth noting that the company does not pay a dividend, which may be a consideration for income-focused investors.
For those interested in a deeper analysis, InvestingPro offers additional tips on Pacira BioSciences, which can be accessed at https://www.investing.com/pro/PCRX. With these insights, investors can better assess the potential risks and rewards associated with investing in Pacira BioSciences as it continues to innovate in the field of pain management.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.