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Pacira Pharmaceuticals, Inc. Reports Third Quarter 2011 Financial Results
Date:10/31/2011

f the launch of EXPAREL.
  • As of September 30, 2011, Pacira had unrestricted cash, cash equivalents and short term investments of $37.1 million compared with $26.1 million on December 31, 2010.
  • Cash used in operating activities and for the purchase of fixed assets used in investing activities ("cash burn") was approximately $27 million for the nine months ended September 30, 2011.  

  • Full Year 2011 Financial Guidance

  • Pacira is reiterating its revenue expectations for 2011 and currently expects to achieve revenue in the range of $14 to $16 million for the full-year ending December 31, 2011.  This revenue expectation excludes the impact of potential sales of EXPAREL.
  • Pacira is also reiterating that its expectation for cash burn for the fourth quarter of 2011 is approximately $15 million. This cash burn expectation includes a $2 million development milestone due from Novo Nordisk A/S under the agreement announced in January 2011.  As a result, Pacira expects to exit 2011 with approximately $22 million in unrestricted cash, cash equivalents and short-term investments.

  • Upcoming ActivitiesPacira expects to present at the following investor conferences:

  • 2011 Brean Murray, Carret & Co. Life Sciences Summit, November 14, in New York
  • 23rd Annual Piper Jaffray Healthcare Conference, November 29-30, in New York

  • Pacira expects to have a presence at the following medical meetings:

  • American College of Toxicology (ACT), November 6-9, in New York
  • American Society of Health-System Pharmacists (ASHP), December 4-8, in New Orleans
  • Postgraduate Assembly in Anesthesiology (PGA), New York State Society of Anesthesiologists (NYSSA), December 9-13, in New York
  • New York School of Regional Anesthesia (NYSORA), December 17-18, in New York

  • Today's Conference Call and Webcast ReminderThe Pacira management team will host a conference call di
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    SOURCE Pacira Pharmaceuticals, Inc.
    Copyright©2010 PR Newswire.
    All rights reserved

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