Pacira Pharma (PCRX) Tops Q3 Views
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Pacira Pharma (NASDAQ: PCRX) reported Q3 EPS of $0.22, $0.24 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $68.4 million versus the consensus estimate of $67.16 million.
Pacira updates its full year 2016 financial guidance as follows:
- EXPAREL net product sales of $263 million to $268 million, reflecting management’s revised expectation about when its commercial strategies and creation of opioid-sparing collaborations will accelerate sales growth.
- Non-GAAP gross margins of 70% to 73%.
- Non-GAAP research and development (R&D) expense of $40 million to $50 million. This reduction in guidance reflects significant cost savings in three randomized clinical trials, along with a change in timing of some costs related to the two nerve block trials that the company expects to complete in the first quarter of 2017.
- Non-GAAP selling, general and administrative (SG&A) expense of $125 million to $135 million.
- Stock-based compensation of $30 million to $35 million.
For earnings history and earnings-related data on Pacira Pharma (PCRX) click here.
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