Pacira Biosciences chief medical officer sells $16,173 in stock

Jonathan Slonin, Chief Medical (TASE:PMCN) Officer at Pacira BioSciences, Inc. (NASDAQ:PCRX), a healthcare company with a market capitalization of $858 million and an "GREAT" InvestingPro Financial Health score, recently sold 879 shares of the company's common stock. The transaction, executed on January 6, 2025, was completed at a price of $18.40 per share, amounting to a total of $16,173. This sale was conducted under a Rule 10b5-1 trading plan that Slonin had previously adopted. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment, with 5 analysts recently revising their earnings expectations upward.

Additionally, on January 2, 2025, Slonin disposed of 371 shares at $18.33 each to cover tax obligations related to the vesting of restricted stock units. Following these transactions, Slonin holds 93,443.511 shares of Pacira BioSciences, which includes shares acquired through the company's employee stock purchase plan in December 2024. For deeper insights into insider trading patterns and comprehensive analysis, including 8 additional ProTips, check out the full Pro Research Report available on InvestingPro.

In other recent news, Pacira BioSciences, Inc. reported significant developments in its non-opioid pain management solutions. The company's gene therapy candidate, PCRX-201, demonstrated sustained improvements in knee pain, stiffness, and function for up to 104 weeks in patients with moderate to severe osteoarthritis in a phase 1 trial. This advancement is expected to be presented at the annual meeting of the American College of Rheumatology.

On the financial front, Pacira's third quarter 2024 results showed a rise in EXPAREL sales from $128.7 million to $132 million. The company's non-GAAP gross margin stood at 78%, and the adjusted EBITDA was reported at $54.7 million. Despite challenges with ZILRETTA, the company maintained its 2024 revenue guidance of $680 million to $705 million, with adjusted gross margins between 74% and 76%.

In the earnings call, Pacira emphasized its strategic focus on patient care and non-opioid pain therapies, with a view to accelerated growth in 2025. The company also highlighted the upcoming implementation of the NOPAIN reimbursement policy, which is expected to improve access to EXPAREL starting January 2025. These recent developments reinforce Pacira's ongoing commitment to providing innovative pain management solutions.

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