PCRX - Pacira BioSciences guides Q3 revenue below consensus

• Pacira BioSciences ( NASDAQ: PCRX ) has reported prelim Q3 revenues of $167.5M, up 31% year-over-year but below consensus estimate of $171.37M.
• EXPAREL sales were up around 9% Y/Y in the quarter to $132.6M. In Sep 2022, EXPAREL generated $45M in sales vs. $39.7M in Sep 2021.
• ZILRETTA net product sales totaled $26.5M in Q3 and $8.6M in Sep 2022. The company began recognizing sales of ZILRETTA in Nov 2021 after completing its acquisition of Flexion Therapeutics.
• iovera net product sales were $4.5M in Q3 compared with $4.2M in year-ago period. iovera sales were $1.9M in Sep 2022 vs. $2.3M in Sep 2021.
• The company is not providing full year revenue or gross margin guidance at this time given the continued uncertainty around labor shortages, COVID-19, and the pace of recovery for the elective surgery market.

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