Pacira Pharmaceuticals, Inc. (
reported second quarter 2013 net loss per share of 42 cents,
narrower than the Zacks Consensus Estimate of a loss of 46 cents,
but wider than the year-ago loss of 23 cents.
Second quarter revenues rose 38.9% year over year to $17.1
million, above the Zacks Consensus Estimate of $16 million.
Net revenues included product revenues, collaborative
licensing and development revenue and royalty revenues. Net
Exparel revenues were $15.2 million, up sequentially by 46.2%.
Exparel, indicated for administration into the surgical site to
produce postsurgical analgesia, was launched in Apr 2012. In the
first year of launch, it generated revenues of $25.1 million.
At the end of the reported quarter, 1,435 distinct customers
ordered Exparel since launch. Pacira reported an average of 30
new customers per week in the reported quarter.
Pacira also announced a new study this quarter for the use of
Exparel infiltrated into the transversus abdominis plane for
postsurgical analgesia in abdominal hernia repair.
Pacira remains on track with its plans to expand its
manufacturing facility and anticipates receiving FDA approval for
the newly installed manufacturing facility, Suite C, in early
Research and development expenses soared 159.5% year over year
to $4.9 million, mainly due to costs associated with the
development of Exparel as a femoral nerve block for total knee
arthroplasty surgery and intercostal nerve block for thoracotomy.
Selling, general and administrative expenses increased 35.2% year
over year to $14.1 million, primarily driven by commercialization
efforts for Exparel.
Pacira carries a Zacks Rank #2 (Buy). Currently, companies
Pharmacyclics, Inc. (
Questcor Pharmaceuticals Inc. (
Anika Therapeutics Inc. (
look well-positioned with a Zacks Rank #1 (Strong
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