Pacira BioSciences Inc. (NASDAQ: PCRX) sent a letter to shareholders defending its board nominees ahead of its June 9 annual meeting, amid a proxy contest from shareholder DOMA Perpetual Capital Management LLC.

The company reported 2025 financial results including record total revenues of $726.4 million, GAAP net income of $7.0 million or $0.16 per share, and non-GAAP net income of $122.3 million or $2.74 per basic share. GAAP gross margins reached a record 79.4%, while non-GAAP gross margins hit 81.2%.

DOMA Perpetual seeks to replace three Pacira board nominees - Christopher Christie, Samit Hirawat and Thomas Wiggans - with its own candidates Christopher Dennis, Oliver Benton Curtis III and Eric de Armas. Pacira stated that after interviewing DOMA's nominees, its board determined none possess the necessary knowledge and experience to add value.

The company highlighted its EXPAREL product achieved 6.2% year-over-year volume growth in 2025, up from 3.6% in 2024. Pacira's products treated over 2.5 million patients in 2025, supporting its goal of helping 3 million patients annually by 2030.

Pacira reached a settlement in 2025 regarding EXPAREL patent litigation, providing exclusivity through 2030 and a gradual transition through 2039. The company expanded its patent estate to 21 Orange-Book listed patents across two families, providing exclusivity through the mid-2040s.

The company appointed Frank D. Lee as CEO in 2024 and has implemented its "5x30" strategy aimed at growing commercial business and building a balanced product portfolio by 2030. Since launching this strategy, Pacira's stock has increased over 31%.

Pacira operates three commercial-stage products: EXPAREL for postsurgical pain management, ZILRETTA for osteoarthritis knee pain, and iovera for drug-free pain control. The company is advancing two Phase 2 clinical programs and has partnerships with Johnson & Johnson MedTech and LG Chem.