Date:3/31/2011

ase of fixed assets used in investing activities ("cash burn") to be approximately $30 million cumulatively through the third quarter of 2011.  Based upon the assumption of FDA approval for EXPAREL in the third quarter of 2011 and EXPAREL commercialization in the fourth quarter of 2011, Pacira expects cash burn in the fourth quarter of 2011 to be approximately $25 million, which would include a $10 million milestone payment to Skye Pharmaceuticals due upon the first commercial sale of EXPAREL.  

Recent Developments

Presented new Phase 3 EXPAREL data at two medical meetings: Data from Pacira's Phase 3 multicenter, randomized, double-blind, parallel group, placebo-controlled bunionectomy trial was presented at the 2011 American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting and the Orthopaedic Research Society's 57th Annual Meeting.  The data demonstrated that the median time to first use of opioid rescue medication was 7.2 hours for patients treated with EXPAREL compared with 4.3 hours for patients on placebo (p<0.0001) and that patients treated with EXPAREL had comparable safety in wound healing and significantly improved efficacy in pain reduction compared to patients treated with placebo.  Pacira's poster at AAOS was awarded the best poster in the "foot and ankle" category.  Data from this Phase 3 trial was included in the new drug application (NDA) accepted for filing by the FDA in December 2010.

Presented new Phase 1 study data on subjects with hepatic impairment: Data from Pacira's Phase 1 study evaluating EXPAREL in subjects with moderate, stable hepatic impairment was presented at the 2011 American Society for Clinical Pharmacology and Therapeutics 112th Annual Meeting.  Results from the Phase 1 open-label, parallel group volunteer study demonstrated that the differences in plasma exposure of EXPAREL between subjects with moderate, stable hepatic impairment compared to su
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SOURCE Pacira Pharmaceuticals, Inc. Copyright©2010 PR Newswire. All rights reserved

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