PCRX - Pacira BioSciences sees Q2 revenue below consensus

• Pacira BioSciences ( NASDAQ: PCRX ) expects Q2 revenues of $169.4M on a preliminary basis, compared to consensus estimate of $174.90M.
• EXPAREL net product sales were $137M, up from $130.1M in the second quarters of 2021. ZILRETTA sales totaled $27.4M, while iovera sales were $3.2M (vs. $3.8M in Q221).
• CEO Dave Stack stated, "We continue to execute our growth strategy and are pleased to have posted record sales in the second quarter. In mid-June, EXPAREL sales trends strengthened despite ongoing pockets of persistent labor shortages and pandemic-related disruptions facing the elective surgery market. This was augmented by ZILRETTA sales, which underscore the successful integration of this synergistic product."
• The healthcare company did not provide 2022 revenue or gross margin outlook at this time owing to the continued uncertainty around labor shortages, COVID-19, and the pace of recovery for the elective surgery market.

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