Glass Lewis & Co. recommended that Pacira BioSciences Inc. (NASDAQ: PCRX) stockholders vote for the company's three director nominees and against nominees from activist investor DOMA Perpetual Capital Management ahead of the June 9 annual meeting.

The proxy advisory firm endorsed Christopher Christie, Samit Hirawat and Thomas Wiggans for election to Pacira's board. Glass Lewis cited the company's one-year total stockholder return of 37% in 2025 and cumulative return of 23.8% since launching its 5x30 strategy as evidence of progress under the current leadership.

In its report, Glass Lewis stated that Pacira has "an actionable plan designed to deliver substantial stockholder value by 2030" and noted the company's pipeline products PCRX-201 and PCRX-2002 are in Phase 2 development. The firm also highlighted Pacira's filing of 21 Orange Book-listed patents across two families as evidence of intellectual property protection efforts.

Glass Lewis criticized DOMA Perpetual's alternative approach, stating the activist investor "has not presented sufficiently compelling cause" to abandon the 5x30 plan and questioning whether DOMA's nominees "possess the skills necessary to effectively execute" their proposed strategic review.

The advisory firm expressed uncertainty about whether DOMA's position reflects "a disciplined review of alternatives" or is "heavily skewed in favor of an expedited sale of the Company."

Pacira, which develops non-opioid pain therapies, has commercial products including EXPAREL, ZILRETTA and iovera. The company's 5x30 strategy aims to achieve specific growth targets by 2030.

Goldman Sachs serves as Pacira's financial advisor and Perkins Coie as legal counsel for the proxy contest.