Key Developments: Pacira Pharmaceuticals Inc (PCRX.OQ)

PCRX.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Pacira Pharmaceuticals Inc Announces Phase 3 Clinical Trial in Intercostal Nerve Block Does Not Meet Primary Endpoint
Thursday, 1 Aug 2013 04:01pm EDT 

Pacira Pharmaceuticals Inc announced that results from its second pivotal, Phase 3 clinical trial assessing the safety and efficacy of EXPAREL (bupivacaine liposome injectable suspension) in intercostal nerve block for posterolateral thoracotomy. The study did not achieve its primary endpoint of a reduction of cumulative pain scores over 72 hours. The 180 patients in this randomized, double-blind study across the U.S., Bulgaria, Georgia, Poland and the Czech Republic received either 266 mg of EXPAREL or placebo.  Full Article

Pacira Pharmaceuticals Inc Announces Data From Analysis Of Postsurgical Pain Management
Wednesday, 27 Mar 2013 06:30am EDT 

Pacira Pharmaceuticals Inc announced data from a analysis of a national database of patients from 380 hospitals in the United States who underwent 319,898 inpatient surgeries and received opioids for postsurgical pain management. The analysis found that opioid-related adverse events (ORAEs) were associated with a $4,707 increase in hospital costs and a 3.3-day increase in the average length of stay (LOS) in the hospital. Key findings demonstrated that patients experiencing an ORAE: Were hospitalized 3.3 days longer than patients without an ORAE (7.6 days vs. 4.2 days, P <0.0001) Had a $4,707 mean increase from the baseline hospitalization cost compared to patients without an ORAE ($22,077 vs. $17,370, P <0.0001) Had a significantly greater 30-day, all-cause readmission rate (15.8% vs. 9.4%, P <0.0001) compared to patients without an ORAE. The research was supported by Pacira Pharmaceuticals, Inc.  Full Article

Pacira Pharmaceuticals Inc Announces Proposed Offering of $100 Million Of Convertible Senior Notes
Tuesday, 15 Jan 2013 04:00pm EST 

Pacira Pharmaceuticals Inc announced that proposes to offer $100 million of aggregate principal amount of its convertible senior notes due 2019, subject to market conditions and other factors. The notes will be the senior, unsecured obligations of the Company and will accrue interest payable semiannually in arrears. Upon conversion, holders will receive cash up to the principal amount of the notes and, with respect to any excess conversion value, cash, shares of the Company's common stock, or a combination of cash and shares of the Company's common stock, at the Company's option. The interest rate, conversion rate, offering price and other terms will be determined at the time of pricing of the offering. Pacira also expects to grant to the initial purchasers a 30-day option to purchase up to an additional $10 million of aggregate principal amount of the notes on the same terms and conditions, solely to cover sales in excess thereof, if any. Pacira intends to use approximately $30.0 million of the net proceeds of the offering to repay all amounts outstanding under, and to terminate, its senior secured credit facility, and the remainder of the net proceeds from the offering (including from any exercise by the initial purchasers of their option to purchase additional notes) to fund the continued commercialization of EXPAREL and the development of additional indications for EXPAREL and for general corporate purposes.  Full Article

Pacira Pharmaceuticals Inc And Aratana Therapeutics Inc. Enter Into Global Licensing Agreement For Development And Commercialization Of Bupivacaine Liposome
Thursday, 6 Dec 2012 06:30am EST 

Pacira Pharmaceuticals Inc and Aratana Therapeutics Inc. announced a global licensing agreement for the development and commercialization of bupivacaine liposome injectable suspension for animal health indications. Under the agreement, Aratana will develop and seek approval for the use of the product in veterinary surgery to manage postsurgical pain, focusing initially on developing the product for cats, dogs and other companion animals. Under the agreement, Aratana made a one-time payment to Pacira of $1 million and will pay additional development and commercial milestones totaling up to $42.5 million. In addition, upon approval of the product by the FDA, Aratana will pay Pacira a double-digit royalty on net sales of the product. Should Aratana sublicense the product to a third party, Aratana and Pacira will share the proceeds by a predetermined formula (after Aratana has recovered certain direct development costs). Pacira will be responsible for all product manufacturing, and Pacira and Aratana will form a joint committee to oversee commercialization and development activities.  Full Article

Pacira Pharmaceuticals Inc Announces New Data Supporting Use Of Exparel Via Infiltration Into Transversus Abdominis Plane
Tuesday, 13 Nov 2012 06:30am EST 

Pacira Pharmaceuticals Inc announced the first data presentation supporting the use of EXPAREL (bupivacaine liposome injectable suspension) infiltrated into the transversus abdominis plane (TAP) for postsurgical pain management. TAP infiltration is being increasingly utilized for postsurgical analgesia in abdominal procedures as clinicians aim to maintain pain control while reducing reliance on opioid analgesics. Andrew Sternlicht, M.D., Assistant Clinical Professor of Anesthesiology at the Tufts University School of Medicine, is lead author on a poster presentation of the data, which will be presented at the 11th Annual American Society of Regional Anesthesia and Pain Medicine (ASRA) Meeting, taking place November 15-18, 2012 in Miami. Findings indicate that inadequately controlled postsurgical pain is ubiquitous: More than 85% of the patients surveyed reported experiencing postsurgical pain; 75% of patients reporting pain characterized it as moderate, severe or extreme; 79% of patients reported experiencing side effects from pain medications, with the majority of those side effects appearing to be opioid-related. Overall, the researchers found that postsurgical pain remains undermanaged; greater clinical adoption of multimodal therapy and novel non-opioid analgesics could potentially minimize opioid-related side effects and improve postsurgical pain management. Both studies were supported by Pacira Pharmaceuticals.  Full Article

Novo Nordisk A/S End Deal With Pacira Pharmaceuticals Inc-Reuters
Tuesday, 3 Jul 2012 05:56pm EDT 

Reuters reported that Pacira Pharmaceuticals Inc said that Novo Nordisk A/S has terminated an agreement to develop a drug using Pacira's technology. Novo had rights to develop a drug using Pacira's drug delivery technology that encapsulates drugs without changing their molecular structure and then releases them over a desired time period. Pacira said in a regulatory filing that the termination of the deal will be effective 60 days from the day of the notice.  Full Article

Pacira Pharmaceuticals Inc Reiterates FY 2012 Revenue Guidance-Conference Call
Wednesday, 9 May 2012 01:00pm EDT 

Pacira Pharmaceuticals Inc announced that for fiscal 2012, excluding EXPAREL, the Company is reiterating revenue guidance of between $23 million and $25 million.  Full Article

Pacira Pharmaceuticals Inc Announces Full Exercise Of Overallotment Option By Underwriters
Wednesday, 25 Apr 2012 09:00am EDT 

Pacira Pharmaceuticals Inc announced that the underwriters of its previously announced public offering of common stock have exercised in full their overallotment option to purchase an additional 900,000 shares of common stock at the public offering price of $9.75 per share, less underwriting discounts and commissions. Proceeds from the exercise of the option will be approximately $8.2 million, after deducting underwriting discounts and commissions and offering expenses. The closing of the overallotment option exercise is expected to occur on April 27, 2012. Jefferies & Company, Inc. and Barclays Capital Inc. are acting as joint book-running managers for the offering. Piper Jaffray & Co., Wedbush PacGrow Life Sciences and Brean Murray, Carret & Co. are acting as co-managers for the offering.  Full Article

Pacira Pharmaceuticals Inc Announces Proposed Public Offering of Common Stock
Wednesday, 11 Apr 2012 04:00pm EDT 

Pacira Pharmaceuticals Inc announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares in the offering are to be sold by Pacira. Jefferies & Company, Inc. and Barclays Capital Inc. are acting as joint book-running managers for the offering. Piper Jaffray & Co., Wedbush PacGrow Life Sciences and Brean Murray, Carret & Co. are acting as co-managers for the offering. Pacira intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the offering to cover over-allotments, if any. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.  Full Article

Pacira Pharmaceuticals Inc Issues FY 2012 Revenue Guidance-Conference Call
Tuesday, 27 Mar 2012 01:30am EDT 

Pacira Pharmaceuticals Inc announced that for fiscal 2012, excluding EXPAREL, the Company providing revenue guidance of between $23-$25 million.  Full Article

Pacira Pharma pain drug fails late-stage trial

- Pacira Pharmaceuticals Inc said its lead drug did not meet the main goal in a late-stage trial of reducing pain for patients undergoing a surgical procedure called posterolateral thoracotomy.

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