1 unchanged sentence
Our common stock is listed and traded under the ticker symbol “PCRX” on the Nasdaq Global Select Market.
−Removed: As of February 21, 2021, we had approximately 12 holders of record of our common stock.
+Added: As of February 27, 2022, we had eleven holders of record of our common stock.
+Added: The number of record holders is based on the actual number of holders registered on the books of our transfer agent and does not reflect a substantially greater amount of holders of shares in “street name”, whose shares are held of record by banks, brokers and other financial institutions.
Performance Graph
17 unchanged sentences
We currently intend to retain our future earnings to finance the future development and expansion of our business, and as such we do not expect to pay any cash dividends on our common stock in the foreseeable future.
−Removed: The payment of future dividends, if any, will be at the discretion of our board of directors and will depend on our financial condition, results of operations, capital requirements, restrictions contained in future financing instruments, provisions of applicable law and any other factors our board of directors deems relevant.
−Removed: Pacira BioSciences, Inc.
−Removed: | 2020 Form 10-K | Page 58
−Removed: Selected Financial Data
−Removed: The following tables provide selected historical consolidated financial data.
−Removed: We have prepared this information using our audited consolidated financial statements as of and for the years ended December 31, 2020, 2019, 2018, 2017 and 2016.
−Removed: The following consolidated financial data should be read in conjunction with our consolidated financial statements and related notes and Item 7.
−Removed: “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in this Annual Report.
−Removed: Year Ended December 31,
−Removed: 2018 2017 2016
−Removed: Consolidated Statements of Operations Data (In thousands, except per share amounts)
−Removed: Net product sales $ 426,614 $ 418,926 $ 332,427 $ 284,342 $ 270,073
−Removed: Collaborative licensing and milestone revenue — — 3,000 387 3,426
−Removed: Royalty revenue 3,033 2,100 1,850 1,901 2,872
−Removed: Total revenues 429,647 421,026 337,277 286,630 276,371
−Removed: Operating expenses:
−Removed: Cost of goods sold 117,328
−Removed: 86,845 87,915 110,104 F
−Removed: Research and development 59,421 72,119 55,688 57,290 45,678
−Removed: Selling, general and administrative 193,516 200,782 177,265 161,494 152,613 G
−Removed: Amortization of acquired intangible assets 7,866 5,703 — — —
−Removed: Acquisition-related charges, product
−Removed: discontinuation and other 5,166 A
−Removed: Total operating expenses 383,297 410,546 321,362 311,567 308,395
−Removed: Income (loss) from operations 46,350 10,480 15,915 (24,937) (32,024)
−Removed: Other (expense) income:
−Removed: Interest income 4,629 7,376 6,497 4,078 1,323
−Removed: Interest expense (25,671) (23,628) (21,949) (18,047) (7,061)
−Removed: Loss on early extinguishment of debt (8,071) — — (3,732) —
−Removed: Other, net 2,852 (4,976) (888) 167 (82)
−Removed: Total other expense, net (26,261) (21,228) (16,340) (17,534) (5,820)
−Removed: Income (loss) before income taxes 20,089 (10,748) (425) (42,471) (37,844)
−Removed: Income tax benefit (expense) 125,434 (268) (46) (140) (105)
−Removed: Net income (loss) $ 145,523 $ (11,016) $ (471) $ (42,611) $ (37,949)
−Removed: Net income (loss) per share:
−Removed: Basic net income (loss) per common share $ 3.41 $ (0.27) $ (0.01) $ (1.07) $ (1.02)
−Removed: Diluted net income (loss) per common share $ 3.33 $ (0.27) $ (0.01) $ (1.07) $ (1.02)
−Removed: Weighted average common shares outstanding:
−Removed: Basic 42,671 41,513 40,911 39,806 37,236
−Removed: Diluted 43,682 41,513 40,911 39,806 37,236
−Removed: A - Includes charges of $5.4 million related to the MyoScience Acquisition.
−Removed: Of this total, $ 5.2 million represents the net change in the fair value of contingent consideration resulting from the achievement of regulatory milestones and revised commercial forecasts (which are tied to potential future milestone payments).
−Removed: For further discussion of these charges, see Note 5, MyoScience Acquisition and Note 18, Acquisition-Related Charges and Product Discontinuation, Net , to our consolidated financial statements included herein.
−Removed: B - We completed the MyoScience Acquisition on April 9, 2019.
−Removed: The acquisition was accounted for using the acquisition method of accounting and, accordingly, the assets acquired, liabilities assumed and results of operations of the acquired business are included in our consolidated financial statements from the date of acquisition.
−Removed: C - Includes charges of $21.6 million related to the MyoScience Acquisition.
−Removed: Of this total, $16.7 million represents increases in the fair value of contingent consideration resulting from the achievement of regulatory milestones and revised commercial forecasts (which are tied to potential future milestone payments), $4.2 million represents advisory costs, including legal, financial, accounting and tax services.
−Removed: The remaining $0.7 million represents separation costs, asset write-downs and other restructuring charges.
−Removed: Charges of $0.2 million were recorded related to the discontinuation of
−Removed: Pacira BioSciences, Inc.
−Removed: | 2020 Form 10-K | Page 59
−Removed: our DepoCyt(e) manufacturing activities for lease costs, asset retirement obligations and other estimated exit costs.
−Removed: Additionally, this includes a charge of $3.5 million related to the U.S.
−Removed: Department of Justice settlement agreement.
−Removed: For further discussion of these charges, see Note 5, MyoScience Acquisition , Note 18, Acquisition-Related Charges and Product Discontinuation, Net and Note 21, Commitments and Contingencies , respectively, to our consolidated financial statements included herein.
−Removed: D - Represents non-recurring charges of $1.6 million related to the discontinuation of our DepoCyt(e) manufacturing activities for lease costs, asset retirement obligations and other estimated exit costs.
−Removed: These charges primarily represent additional lease and facility costs due to the fact that we were not able to sub-lease the property where DepoCyt(e) was manufactured considering the short period of time that remained on our existing lease.
−Removed: For further discussion of these charges, see Note 18, Acquisition-Related Charges and Product Discontinuation, Net , to our consolidated financial statements included herein.
−Removed: E - Represents non-recurring charges of $5.4 million related to the discontinuation of our DepoCyt(e) manufacturing activities, including $0.5 million for DepoCyt(e) related inventory, which is recorded in cost of goods sold, and $4.9 million for the remaining lease costs less an estimate of potential sublease income for the facility where DepoCyt(e) was manufactured, the write-off of property, plant and equipment, employee severance, asset retirement obligations and other estimated exit costs.
−Removed: For further discussion of these charges, see Note 18, Acquisition-Related Charges and Product Discontinuation, Net , to our consolidated financial statements included herein.
−Removed: F - Includes a $20.7 million charge for inventory and related reserves for the cost of EXPAREL batches impacted by a routine stability test that did not meet required specifications.
−Removed: G - Includes a $7.1 million contract termination charge to CrossLink Bioscience, LLC.
−Removed: 2018 2017 2016
−Removed: Consolidated Balance Sheet Data (In thousands)
−Removed: Cash and cash equivalents,
−Removed: short-term and long-term investments $ 617,121 $ 356,748 $ 409,325 $ 371,394 $ 172,597
−Removed: Working capital 398,295 300,884 417,308 334,893 198,251
−Removed: Total assets 1,274,513 A 831,065 689,353 628,371 391,466
−Removed: Long-term liabilities 401,497 368,448 307,466 292,671 127,652
−Removed: Accumulated deficit (253,875) (399,398) (388,226) (389,136) (346,238)
−Removed: Total stockholders’ equity 619,688 354,944 321,226 279,483 218,976
−Removed: A - Includes the release of a $126.6 million domestic valuation allowance on our deferred tax assets.
−Removed: For further discussion, see Note 16, Income Taxes , to our consolidated financial statements included herein.
−Removed: B - We completed the MyoScience Acquisition on April 9, 2019.
−Removed: The acquisition was accounted for using the acquisition method of accounting and, accordingly, the assets acquired, liabilities assumed and results of operations of the acquired business are included in our consolidated financial statements from the date of acquisition.
+Added: The payment of future dividends, if any, will be at the discretion of our board of directors and will depend on our financial condition, results of operations, capital requirements, restrictions contained in the agreements governing our indebtedness, provisions of applicable law and any other factors our board of directors deems relevant.
Pacira BioSciences, Inc.
| 2021 Form 10-K | Page 67
+Added: Table of Contents ,
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.