Pacira Pharmaceuticals Stock Earnings Reports

Pacira reported a strong start to 2026 with continued momentum behind its Five by 30 strategy. Key commercial highlights: EXPAREL net sales were $143.3M in Q1 (volumes up ~7%), ZILRETTA sales were $26.8M (up 15% YoY), and ioverao sales were $6.2M (up 21% YoY). EXPAREL benefits from expanded reimbursement (now >110M covered lives outside the surgical bundle), a new product-specific J-code, and materially strengthened IP protection (21 Orange Book-listed patents across two families). Pipeline and lifecycle milestones include a Phase 3 registrational study readout for ZILRETTA in shoulder OA expected later this year, a registrational spasticity readout for ioverao by year-end, and top-line data from PCRX201 (locally administered IL-1RA gene therapy for knee OA) from ASCEND Part A later this year with Part B planned to start midyear. Financials and guidance: company reiterates 2026 revenue guidance of $745M–$770M and EXPAREL sales guidance of $600M–$620M; non-GAAP gross margin guidance 77%–79%; non-GAAP R&D $105M–$115M; non-GAAP SG&A $320M–$340M. Q1 non-GAAP gross margin was ~80%; adjusted EBITDA for the quarter was ~$40.2M. R&D cadence: Q2 R&D expected to increase to low $30M, then return closer to Q1 levels in H2. Capital allocation: executed $50M of share repurchases in Q1 (total ~9M shares retired since plan start), with ~$100M remaining under the buyback program. Strategic partnerships (e.g., Johnson & Johnson MedTech, LG Chem) remain a priority to expand commercial reach ex-U.S. and domestically. Risks called out include typical execution and clinical uncertainties; company expects several clinical and commercial catalysts through the rest of 2026.