Pacira Pharma (PCRX) reported Q1 EPS of $0.64, $0.19 worse than the analyst estimate of $0.83. Revenue for the quarter came in at $158 million versus the consensus estimate of $159.34 million.
Financial Guidance:
The company’s product sales continue to be impacted by COVID-19, which has caused significant postponement or suspension in the scheduling of elective surgical procedures resulting from public health guidance and government directives. Given the continued uncertainty around COVID-19 and the pace of recovery for the elective surgery market, the company is currently not providing revenue or gross margin guidance. To provide greater transparency, Pacira is reporting monthly intra-quarter unaudited net product sales for EXPAREL and iovera° until it has gained enough visibility around the impacts of COVID-19. Pacira is also providing weekly EXPAREL utilization and elective surgery data within its investor presentation, which is accessible at investor.pacira.com. Pacira is currently not reporting preliminary monthly ZILRETTA net product sales as the required adjustments for certain product rebate programs are calculated after the end of the quarter.
Today the company is reiterating its full-year 2022 operating expense guidance as follows:
- Non-GAAP R&D expense of $75 million to $85 million;
- Non-GAAP SG&A expense of $220 million to $230 million; and
- Stock-based compensation of $40 million to $45 million.