Pacira Pharma (NASDAQ: PCRX) reported Q3 EPS of $0.11, $0.17 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $67.3 million versus the consensus estimate of $70.04 million.

Third Quarter 2017 Financial Results

• EXPAREL net product sales were $66.8 million in the third quarter of 2017, a 3% increase over the $64.9 million reported for the third quarter of 2016. There were two fewer selling days in the third quarter of 2017 compared to the third quarter of 2016.
• Total revenues were $67.3 million in the third quarter of 2017, a 1% decrease versus the $68.4 million reported for the third quarter of 2016, primarily related to the discontinuation of DepoCyt(e) and lower collaborative licensing and milestone revenue.
• Total operating expenses were $70.9 million in the third quarter of 2017, compared to $89.2 million in the third quarter of 2016.
• GAAP net loss was $7.6 million, or $(0.19) per share (basic and diluted), in the third quarter of 2017, compared to a GAAP net loss of $22.2 million, or $(0.59) per share (basic and diluted), in the third quarter of 2016.
• Non-GAAP net income was $4.4 million, or $0.11 per share (basic and diluted) in the third quarter of 2017, compared to non-GAAP net income of $8.0 million, or $0.22 per share (basic) and $0.20 per share (diluted), in the third quarter of 2016.
• Pacira ended the third quarter of 2017 with cash, cash equivalents, short-term and long-term investments ("cash") of $374.9 million.
• Pacira had 40.5 million basic weighted average shares of common stock outstanding in the third quarter of 2017.
• For non-GAAP measures, Pacira had 41.4 million diluted weighted average shares of common stock outstanding in the third quarter of 2017.

2017 Outlook

Pacira is updating its full year 2017 sales guidance and reiterating its remaining financial guidance as follows:

• EXPAREL net product sales of $280 million to $285 million from its previously guided range of $290 million to $310 million.
• Non-GAAP gross margins of approximately 70%.
• Non-GAAP research and development (R&D) expense of $50 million to $60 million.
• Non-GAAP selling, general and administrative (SG&A) expense of $145 million to $155 million.
• Stock-based compensation of $30 million to $35 million.

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