Pacira BioSciences (PCRX) investor relations material

Executive summary

• Q3 revenue was $176.7M, down 2% YoY; operating income rose to $22.3M from $6.4M and net income to $28.5M from $5.4M.

• Nine-month revenue rose 3% to $546.4M; net income was $36.1M versus $5.4M, with results reflecting divestiture and contingent-consideration gains.

• A $36.50-per-share cash tender offer by Viatris is pending, with closing expected before year-end 2026, subject to customary conditions.

Financial highlights

• Q3 net product sales were $175.4M, down 1% YoY; service revenue was $1.2M and royalty revenue was $0.

• Nine-month operating income was $33.4M versus $16.9M; operating expenses were $513.0M versus $512.7M.

• Q3 diluted EPS was $0.70 versus $0.12; nine-month diluted EPS was $0.89 versus $0.12.

• Reported Q3 results included a $6.6M iovera divestiture gain and $14.4M contingent-consideration gain, partly offset by $7.4M merger costs.

• Nine-month operating cash flow was $133.2M; cash and cash equivalents were $247.0M, and cash plus available-for-sale investments totaled $295.6M at September 30.

Outlook and guidance

• Merger closing is expected before year-end 2026, subject to conditions including tender of more than 50% of outstanding shares.

• ZILRETTA shoulder OA Phase 3 topline results are expected before year-end 2026; PCRX-201 ASCEND Part A 12-month topline results are also expected before year-end.

• PCRX-2002 Phase 2 bunionectomy program is planned to start in Canada; first EXPAREL sales under the Molteni and LG Chem partnerships are expected in 2027.

• Cash, investments, and product-sale proceeds are expected to fund operating and capital needs, debt service, and interest for the next 12 months.

• Tariffs are expected to pressure gross margin, though the estimated 2026 financial impact is not expected to be material.