Pacira Pharma (PCRX) Tops Q2 EPS by 8c

Pacira Pharma (NASDAQ: PCRX) reported Q2 EPS of $0.77, $0.08 better than the analyst estimate of $0.69. Revenue for the quarter came in at $135.6 million versus the consensus estimate of $128.01 million.

Financial Guidance:

The company’s net product sales were negatively impacted by the COVID-19 pandemic in 2020 due to the significant postponement or suspension in the scheduling of elective surgical procedures resulting from public health guidance and government directives. Elective surgery restrictions began to lift on a state-by-state basis in April 2020, allowing EXPAREL sales to return to year-over-year growth in June 2020. However, while many restrictions have since eased and COVID-19 vaccines become more widely available and administered to the general public, it is still unclear how long it will take the elective surgery market to normalize, or if restrictions on elective procedures will recur due to COVID-19 variant strains or otherwise. In order to provide greater transparency, the company is reporting monthly intra-quarter unaudited net product sales until it has gained enough visibility around the impacts of COVID-19. The company reports average daily growth rates for EXPAREL to normalize for differences in the number of selling days per reporting period. The company is also providing weekly EXPAREL utilization and elective surgery data within its investor presentation, which is accessible at investor.pacira.com.

For earnings history and earnings-related data on Pacira Pharma (PCRX) click here.

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