What changed in this filing

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Item 1. Business

2026-02-26 compared with 2025-02-27 · 384 added, 223 removed, 841 unchanged (42% of the section changed)

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(now Vectura Group Limited, a subsidiary of Molex Asia Holdings, Ltd.), or Skyepharma (the “Skyepharma Acquisition”).

In April 2019, we acquired MyoScience, Inc., a privately held medical technology company (the “MyoScience Acquisition”), in November 2021, we acquired Flexion Therapeutics, Inc., or Flexion, a publicly traded biopharmaceutical company (the “Flexion Acquisition”) and in February 2025, we acquired GQ Bio Therapeutics GmbH, a privately-held biopharmaceutical company (the “GQ Bio Acquisition”).

Unless the context requires otherwise, references to “Pacira,” “we,” the “Company,” “us” and “our” in this Annual Report refers to Pacira BioSciences, Inc., a Delaware corporation, and its subsidiaries.

In April 2019, we acquired MyoScience, Inc., a privately held medical technology company (the “MyoScience Acquisition”), in November 2021, we acquired Flexion Therapeutics, Inc., or Flexion, a publicly traded biopharmaceutical company (the “Flexion Acquisition”) and in February 2025, we acquired GQ Bio Therapeutics GmbH, or GQ Bio, a privately-held biopharmaceutical company (the “GQ Bio Acquisition”).

Unless the context requires otherwise, references to “Pacira,” “we,” the “Company,” the “Registrant,” “us” and “our” in this Annual Report refers to Pacira BioSciences, Inc., a Delaware corporation, and its subsidiaries.

Corporate Information

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and in April 2019, we changed our name to Pacira BioSciences, Inc.

Our principal executive offices and corporate headquarters are located in Tampa, Florida.

Our principal executive offices and corporate headquarters are located in Brisbane, California.

Trademarks and Service Marks

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We have three commercialized non-opioid treatments:

EXPAREL ® (bupivacaine liposome injectable suspension), a long-acting, local analgesic currently approved for postsurgical pain management;

ZILRETTA ® (triamcinolone acetonide extended-release injectable suspension), an extended-release, intra-articular, or IA (meaning in the joint), corticosteroid injection indicated for the management of osteoarthritis, or OA, knee pain;

and iovera ® °, a novel, handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve.

We are also advancing the development of PCRX-201 (enekinragene inzadenovec), a novel gene therapy vector platform enabling local administration of genetic medicines with the potential to treat large prevalent diseases like OA.

EXPAREL ® (bupivacaine liposome injectable suspension), ZILRETTA ® (triamcinolone acetonide extended-release injectable suspension) and iovera ® °.

EXPAREL—our flagship product—is a long-acting, local analgesic currently approved for postsurgical pain management.

ZILRETTA is an extended-release, intra-articular, or IA (meaning in the joint), corticosteroid injection indicated for the management of osteoarthritis, or OA, knee pain.

iovera° is our novel, handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve.

We are also advancing an innovative pipeline that includes PCRX-201 (enekinragene inzadenovec), a novel, locally administered gene therapy that is in Phase 2 clinical development for the treatment of OA of the knee.

PCRX-201 is the lead program from our proprietary high-capacity adenovirus, or HCAd, vector platform, which enables local administration of genetic medicines and has the potential to unlock gene therapy for large prevalent diseases affecting millions of people.

In January 2025, we launched our new 5x30 strategic growth plan (“5x30”) to accelerate our transition into an innovative biopharmaceutical and therapeutic area leader in musculoskeletal pain and adjacencies.

With 5x30, we intend to achieve the following five key objectives by 2030:

The 5x30 plan focuses on five key objectives that we intend to achieve by 2030:

(i) deliver our products to more than three million patients annually;

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(iv) advance an innovative pipeline with at least five programs in clinical development and (v) establish five partnerships—including pipeline and commercial agreements.

Since 5x30 was introduced, we have already made significant progress towards our long-term objectives.

In 2025, we reached 2.5 million patients;

volume trends show we are moving towards our goal of double-digit topline growth;

we are on track for a five-percentage point improvement in gross margins through enhanced manufacturing efficiencies;

progress has been made in the pipeline with new preclinical programs;

and we have added two strategic partnerships, one for each of EXPAREL and ZILRETTA.

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 5

| 2025 Annual Report on Form 10-K | 5

Product Portfolio and Product Candidate Pipeline

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EXPAREL is a long-acting, non-opioid proven to manage postsurgical pain.

EXPAREL is the only product indicated for local analgesia via infiltration in patients aged six years and older and regional analgesia via interscalene brachial plexus nerve block, sciatic nerve block in the popliteal fossa, and adductor canal block in adults (safety and efficacy have not been established in other nerve blocks).

In November 2020, the European Commission, or EC, granted marketing authorization for EXPAREL as a brachial plexus block or femoral nerve block for treatment of post-operative pain in adults, and as a field block for treatment of somatic post-operative pain from small- to medium-sized surgical wounds in adults and children aged six years and older.

EXPAREL consists of bupivacaine, an amide-type local anesthetic, encapsulated in our pMVL drug delivery technology, which delivers bupivacaine over time for extended analgesia.

It is the only product indicated for local analgesia via infiltration in patients aged six years and older and regional analgesia via interscalene brachial plexus nerve block, sciatic nerve block in the popliteal fossa, and adductor canal block in adults (safety and efficacy have not been established in other nerve blocks).

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 6

We believe EXPAREL addresses a significant medical need for a safe and effective long-acting non-opioid postsurgical analgesic and plays a significant role in opioid minimization strategies.

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(iii) eliminating the need for catheters and pumps that may hinder recovery and (iv) providing long-lasting pain control while reducing the need for opioids.

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 6

Net product sales of EXPAREL were $575.1 million, $549.0 million and $538.1 million for the years ended December 31, 2025, 2024 and 2023, respectively.

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ZILRETTA (triamcinolone acetonide extended-release injectable suspension)

ZILRETTA is the first and only extended-release, single-shot corticosteroid injection for patients with OA knee pain.

ZILRETTA uses a proprietary extended-release microsphere technology to slowly and continuously releases triamcinolone acetonide, or TA, a commonly administered, immediate-release corticosteroid into the knee for approximately three months to provide significant pain relief for 12 weeks, with some people experiencing pain relief through 16 weeks.

ZILRETTA is the first and only extended-release, single-shot corticosteroid IA injection therapy for OA knee pain.

ZILRETTA employs a proprietary, extended-release microsphere technology combining triamcinolone acetonide, or TA, a commonly administered, immediate-release corticosteroid, with a poly lactic-co-glycolic acid, or PLGA, matrix to provide extended pain relief.

PLGA is a proven extended-release delivery vehicle that is metabolized to carbon dioxide and water as it releases drug in the IA space.

The ZILRETTA microspheres slowly and continuously release TA into the knee to provide significant pain relief for 12 weeks, with some people experiencing pain relief through 16 weeks.

ZILRETTA was approved by the FDA in October 2017 and launched in the U.S.

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The structural components of the nerve are not affected by iovera° treatment.

It is FDA 510(k) cleared in the U.S., has a CE mark in the E.U.

and is cleared for marketing in Canada for the blocking of pain.

It is FDA 510(k) cleared in the U.S., has a CE mark in the European Union, or E.U., and is cleared for marketing in Canada for the blocking of pain.

The iovera° system is highly complementary to EXPAREL and ZILRETTA as a locally administered, non-opioid therapy that alleviates pain using a non-pharmacological nerve block to disrupt pain signals being transmitted to the brain from the site of injury or surgery.

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• can be administered for local analgesia via infiltration and for regional analgesia via field block, as well as brachial plexus nerve block, sciatic nerve block in the popliteal fossa and adductor canal block;

• facilitates treatment of a variety of surgical sites.

• facilitates treatment across a variety of surgical sites.

We believe EXPAREL is a key component of long-acting postsurgical pain management regimens that reduce the need for opioids.

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• increased the percentage of patients who were pain free at 24 hours post-surgery compared to placebo.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 7

In our Phase 3 trial as an interscalene brachial plexus nerve block for upper extremity surgeries, EXPAREL:

• decreased total opioid consumption by 78% (p<0.01) from zero to 48 hours after surgery;

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 7

• reduced pain scores by 46% versus placebo (p<0.01);

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EXPAREL is used across multiple orthopedic procedures, including joint reconstruction, shoulder, spine, extremity procedures, and hip fractures.

In November 2023, the FDA approved our sNDA to expand the EXPAREL label to include administration in adults as an adductor canal block and a sciatic nerve block in the popliteal fossa.

In November 2023, the FDA approved our supplementary New Drug Application, or sNDA, to expand the EXPAREL label to include administration in adults as an adductor canal block and a sciatic nerve block in the popliteal fossa.

An adductor canal block is used for anesthesia and analgesia for surgeries of the knee, medial lower leg and ankle.

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Two important patient groups are driving the spine market:

first, pediatric cases, like adolescent scoliosis patients, who are undergoing highly invasive surgeries and who until very recently

first, pediatric cases, like adolescent scoliosis patients, who are undergoing highly invasive surgeries and who until very recently only had opioids available to treat their pain, and second, adult degenerative patients who are often coming into surgery opioid-

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 8

only had opioids available to treat their pain, and second, adult degenerative patients who are often coming into surgery opioid-tolerant and who may have already had multiple back surgeries.

| 2025 Annual Report on Form 10-K | 8

tolerant and who may have already had multiple back surgeries.

Managing postsurgical pain in these adult degenerative patients can be challenging due to their established opioid tolerance, but by utilizing EXPAREL, healthcare providers can control their pain with a non-opioid approach, and when feasible based on surgical intervention and patient characteristics, move many historical inpatient procedures to the 23-hour stay environment.

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The risks and complications of adult-based pain management approaches may be magnified in children with 50 percent of children reporting moderate to severe pain in the hospital after surgery and 20 percent of children reporting chronic pain 12 months after surgery.

EXPAREL is redefining the paradigm of care for postsurgical pain management in children as the market’s only clinically proven safe alternative for long-acting, non-opioid postsurgical pain control in children aged 6 and over.

There are approximately one million pediatric procedures per year in the U.S.

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A study of the effect of EXPAREL on postoperative opioid prescribing after third molar extraction showed that patients who received EXPAREL were prescribed significantly fewer opioids, including refills, compared to those who did not receive EXPAREL.

The study, A Retrospective Cross-Sectional Study of the Effect of Liposomal Bupivacaine on Postoperative Opioid

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 9

Prescribing After Third Molar Extraction , was published in The Journal of Oral and Maxillofacial Surgery in July 2021.

The study, A Retrospective Cross-Sectional Study of the Effect of Liposomal Bupivacaine on Postoperative Opioid Prescribing After Third Molar Extraction , was published in The Journal of Oral and Maxillofacial Surgery in July 2021.

In this retrospective analysis, researchers reviewed data from 600 patients who underwent third molar extractions between 2012 and 2018.

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• 59 percent fewer opioids, including refills, compared to patients in the non-EXPAREL group (p<0.0001)

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 9

• Fewer additional opioid prescriptions compared to the non-EXPAREL group (3.3% of patients required a refill vs.

7.7% of patients, respectively)

In September 2022, we announced a joint initiative with Sevāredent Sourcing Solutions, or Sevāredent, a GPO that creates a competitive advantage for like-minded dental organizations through vendor partnerships that drive supply chain value and efficiencies, to provide expanded access to EXPAREL for patients undergoing oral and maxillofacial (OMFS) procedures ranging from third molar and full mouth extractions to dentures and implants.

This collaboration, which advances Sevāredent’s goal of improving patient outcomes and reducing exposure to opioids and their associated risks, provides easy access to EXPAREL—including comprehensive product training and onboarding support from Pacira—for more than 1,800 dental offices across the U.S.

EXPAREL Economic Benefits

EXPAREL Opioid-Sparing and Economic Benefits

Retrospective, real-world studies highlight EXPAREL’s opioid-sparing and economic benefits:

• In October 2024, Surgery for Obesity and Related Diseases published a retrospective, cohort study of 4,298 patients undergoing laparoscopic sleeve gastrectomy.

Patients who received EXPAREL were matched to patients who received non-EXPAREL analgesia.

The EXPAREL cohort was associated with significantly lower opioid use and opioid related adverse events throughout their hospital stay, as well as a shorter length of hospital stay.

Further, the odds of 30-day hospital readmission and incidence of opioid use disorder after discharge were significantly lower for the EXPAREL group.

• In June 2024, Plastic and Reconstructive Surgery Global Open published a retrospective, cohort study of 1,017 patients undergoing abdominal flap breast reconstruction.

Patients who received EXPAREL were matched 2-to-1 with patients who received bupivacaine.

The EXPAREL cohort was associated with significantly lower opioid use throughout their hospital stay.

Further, three-month hospital readmission rates and outpatient clinic or office visits were also lower for the EXPAREL group.

• In May 2024, Surgery Open Science published results from a real-world study of 8,794 patients undergoing colorectal resection surgery.

Patients who received EXPAREL were matched 1-to-1 with patients who did not.

Average opioid utilization through six months after surgery, length of stay, outpatient or emergency department visits and hospital readmissions were all significantly lower in the EXPAREL cohort.

• In May 2024, The Spine Journal published results from a retrospective, comparative study of 1,524 patients undergoing outpatient spine surgery.

Patients who received EXPAREL were matched 1-to-3 with patients who did not.

The use of EXPAREL was associated with reduced opioid use at the hospital with significantly lower emergency department visits for 60 days after discharge.

• In December 2025, the Journal of Knee Surgery published a comprehensive, narrative review outlining strategies for reducing opioid use for TKA postoperative pain via a tiered, perioperative, multimodal pain management regimen that does not compromise patient comfort or recovery.

This regimen is derived from clinical strategy, supportive policy (e.g., the NOPAIN Act), and data infrastructure (e.g., our Innovations in Genicular Outcomes Research registry).

• In October 2025, the Journal of Arthroplasty published a retrospective, observational cohort study leveraging IQVIA’s New Data Warehouse data from patients undergoing TKA at the top 50 outpatient ambulatory surgical centers, or ASCs, with medium-to-high volume liposomal bupivacaine, or LB, use between 2017 and 2024.

Propensity score matching was used to create comparable groups;

LB and non-LB cohorts each had 2,307 patients.

No differences were reported.

LB resulted in significantly fewer opioid-treated days at 360 days post-surgery (but not at 30 or 90 days), fewer physical therapy and occupational therapy visits (all 3 timepoints) and lower total healthcare and pain-related costs.

• In June 2025, the Journal of Medical Economics published a retrospective, observational cohort study utilizing data from Medicare Fee for Service (FFS) beneficiaries undergoing the top 100 hospital outpatient hospital outpatient department, or HOPD, surgical procedures between 2019 and 2023.

Cohorts included LB (n=275,048) and non-LB (n=2,710,846) analgesia recipients.

Unknown bias in claims data analysis was corrected using propensity score weighting techniques.

LB use resulted in significantly decreased emergency department and short-term acute-care hospitals (STACH) admissions and reduced the number of opioid prescription fills and probability of mortality.

LB also reduced beneficiary expenditures and total Medicare expenditures.

The only exception to these reductions was the increase in HOPD expenditures for the LB cohort, which may have been caused by variation in facility charges.

ZILRETTA Clinical Benefits

ZILRETTA combines a commonly administered steroid, TA, with a proprietary, extended-release microsphere technology to administer extended therapeutic concentrations in the joint and persistent analgesic effect.

ZILRETTA combines TA with a proprietary, extended-release microsphere technology to administer extended therapeutic concentrations in the joint and persistent analgesic effect.

Based on the strength of its pivotal and other clinical trials, we believe that ZILRETTA represents an important treatment option for the millions of patients in the U.S.

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It is also the first and only extended-release corticosteroid on the market.

In September 2021, the American Association of Orthopaedic Surgeons, or AAOS, updated its evidence-based clinical practice guidelines, finding ZILRETTA can improve patient outcomes over traditional immediate-release corticosteroids.

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 10

We launched a Phase 3 registration study in 2024 that evaluates the safety and efficacy of ZILRETTA for the management of OA pain of the shoulder.

In August 2021, the American Association of Orthopaedic Surgeons, or AAOS, updated its evidence-based clinical practice guidelines, finding ZILRETTA can improve patient outcomes over traditional immediate-release corticosteroids.

We are conducting a Phase 3 registration study that evaluates the safety and efficacy of ZILRETTA for the management of OA pain of the shoulder.

An interim analysis later this year will inform next steps for our study.

If the study is successful, we plan to seek approval to expand the ZILRETTA label to include OA pain of the shoulder.

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• The daily morphine equivalent consumption in the per protocol group analysis was significantly lower at 72 hours (p<0.05), 6 weeks (p<0.05) and 12 weeks (p<0.05).

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 10

• Patients who were administered iovera° were far less likely to take opioids six weeks after surgery.

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In September 2021, the AAOS updated its evidence-based clinical practice guidelines, reporting that denervation therapy—including cryoneurolysis—may reduce knee pain and improve function in patients with symptomatic OA of the knee.

We are currently sponsoring a prospective, real-world registry called the Innovations in Genicular Outcomes Registry, or iGOR, which is a patient focused registry governed in collaboration with a steering committee of scientific experts that evaluates clinical, economic- and health-related patient-reported outcomes in patients who have received any treatment for knee OA pain, including TKA, for a minimum of 18 months.

We are currently sponsoring a prospective, real-world registry called the Innovations in Genicular Outcomes Registry, or IGOR, which is a patient-focused registry governed in collaboration with a steering committee of scientific experts that evaluates clinical, economic- and health-related patient-reported outcomes in patients who have received any treatment for knee OA pain, including TKA.

This multicenter, prospective, long-term observational study is capturing extensive real-world data on the safety, effectiveness and economic impact of a wide range of surgical and non-surgical OA knee pain interventions, as well as patient characteristics.

The purpose of IGOR is to help guide best practices for current treatment and inform the development of future therapies.

Designed in collaboration with specialists in orthopedic surgery, sports medicine, physiatry rheumatology, and family medicine, the registry follows patients for multiple years, but at least a minimum of 18 months.

A unique feature of IGOR is that if patients receive additional treatments for OA, data capture resets so that outcomes of their treatment journey can be followed over multiple years.

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The IGOR registry is tracking outcomes of iovera°, ZILRETTA and EXPAREL, as well as comparator treatments.

Early outcomes from iGOR have shown that patients who receive iovera° prior to TKA have less pain, improved function and improved sleep for six months after surgery versus patients who do not receive iovera°.

As of November 2024, more than 2,000 patients have enrolled in the iGOR registry across 12 participating sites in the U.S.

In addition, a pilot randomized control trial evaluating iovera° for the treatment of lower back pain showed that it had significantly greater improvements in pain and disability, and required fewer injections over a year, compared to patients who were treated with radiofrequency ablation.

Early outcomes from IGOR have shown that patients who receive iovera° prior to undergoing TKA have less pain, improved function and improved sleep for six months after surgery versus patients who do not receive iovera°.

As of February 2026, more than 3,200 patients have enrolled in the IGOR registry across 15 participating sites in the U.S.

Beyond treatment for pain, observational data has been presented at multiple congresses showing the effectiveness of iovera° for the treatment of upper limb spasticity over 90 days by targeting motor nerves.

We currently have a pivotal trial underway to demonstrate the efficacy and safety of iovera° for treating spasticity.

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 11

In December 2024, the FDA cleared our 510(k) submission to market a new Smart Tip designed to access the medial branch nerves to administer a medial branch block to manage chronic low back pain.

We are advancing a registration trial to evaluate the efficacy and safety of iovera° for treating spasticity.

In December 2024, the FDA cleared our 510(k) submission to market a new iovera° Smart Tip designed to access the medial branch nerves to administer a medial branch block to manage chronic low back pain.

Millions of Americans suffer from chronic low back pain.

It often leads to poor quality of life, disability, lost wages, and persistent prescription opioid use.

The first phase of the launch is underway with an initial focus on spine key opinion leaders to gather insights and feedback before expanding to a broader targeted audience.

A pilot randomized control trial evaluating iovera° versus radiofrequency ablation for the treatment of lower back pain showed that iovera° had significantly greater improvements in pain and disability and required fewer injections over a year.

Before the approval of this new Smart Tip, the iovera° portfolio consisted of either a three-pronged Smart Tip featuring 8.5mm long 27-gauge needles to treat superficial nerves or a single, 90mm long, 20-guage Smart Tip ideally suited to treat deeper nerves.

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Now, this new, 25-gauge 180mm Smart Tip allows for the treatment of deeper nerves, such as the medial branch nerve and is specifically designed so that it can relieve chronic low back pain associated with facet mediated pain.

This longer-needle Smart Tip is uniquely designed for use through a cannula or introducer, providing the ability for ice ball formation at deeper peripheral nerves.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 11

longer-needle Smart Tip is uniquely designed for use through a cannula or introducer, providing the ability for ice ball formation at deeper peripheral nerves.

Chronic low back pain remains a pervasive health challenge in the U.S.:

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With RFA, patients may not get the effects of pain relief until 1-2 weeks after treatment, further the intense heat can damage surrounding tissue and blood vessels, and tissue damage may lead to painful neuritis (inflammation in the nerves).

In December 2025, we announced results from a randomized, 30-patient pilot study evaluating iovera° cryoneurolysis versus radiofrequency ablation, or RFA, for chronic low back pain.

The study, published in Pain Physician , the official journal of the American Society of Interventional Pain Physicians, demonstrated favorable safety, pain reduction, and functional disability outcomes for patients treated with iovera° over a 12-month period.

Key published findings included:

• Patients treated with iovera° experienced significantly lower pain scores at both 180 and 360 days compared with those treated with RFA.

3.0 vs 6.1 (p=0.01)

• Functional disability improved more substantially with iovera°, with Oswestry Disability Index (ODI) scores significantly lower at 360 days.

10.1 vs 20.6 (p=0.002)

• Fewer iovera° patients required additional spine injections after 180 days.

◦ 45.5% of iovera° patients vs.

75% of RFA patients needed additional treatments

• No treatment-related adverse events were reported in either group across the 12-month follow-up period.

• The study was not blinded, and the short tip of the cryoneurolysis device restricted its use to patients with low body mass indexes.

The Osteoarthritis Market

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Surgical intervention is typically a last resort for patients suffering from OA of the knee.

With ZILRETTA, we now offer clinicians the flexibility to individualize OA knee pain treatment with either ZILRETTA or a drug-free nerve block with iovera° based on patient factors and preference, physician training, site of care and reimbursement considerations.

Clinicians have the flexibility to individualize OA knee pain treatment with either ZILRETTA or a drug-free nerve block with iovera° based on patient factors and preference, physician training, site of care and reimbursement considerations.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 12

Innovations in Genicular Outcomes Registry (IGOR)

In line with our commitment to driving innovation in managing musculoskeletal pain and adjacencies with opioid-sparing strategies, we are supporting the Innovations in Genicular Outcomes Registry, or IGOR.

This first-of-its-kind multicenter, prospective, long-term registry is collecting extensive real-world characteristics and impact data of various interventions that patients receive throughout their treatment journey for OA of the knee including oral medications, intra-articular injections through knee replacement surgery.

IGOR is a multi-center, multi-treatment, multi-outcome long-term registry that has the potential to provide valuable insights into safety, clinical effectiveness, patient response and economic outcomes of various treatment methods over time in real world practice.

These insights can provide valuable information to help guide best practices for current surgical and non-surgical treatments of knee OA, as well as inform the development of future therapies by providing a better understanding of patient characteristics and treatment response.

Recognizing that OA management spans multiple treatment paradigms, the IGOR registry was designed and is being conducted in collaboration with a multi-disciplinary team of specialists in orthopedic surgery, sports medicine, physiatry, rheumatology and family medicine.

The robust design of IGOR is intended to capture real-world data across a broad range of OA treatments, reflecting each patient’s dynamic care journey over an extended period.

The study collects patient characteristics, as well as clinical, economic and patient-reported outcomes, with most patients contributing data over several years across multiple interventions.

Much of the data are gathered directly from representative patients and clinical settings, with long-term engagement contributing to high quality, meaningful insights.

With over 3,200 patients enrolled since September 2021, this robust knee OA database is now yielding high-quality data and generating valuable insights into a range of interventions.

These insights have the potential to significantly influence how knee pain is treated, ultimately improving patient outcomes.

Key areas of focus include pain, functional outcomes, opioid utilization, and quality-of-life assessments.

In addition to understanding the landscape of treatments, recent and forthcoming peer-reviewed scientific publications—including The Journal of Arthroplasty ;

Arthroplasty Today and Surgical Technology International —have summarized patient reported outcomes for Pacira’s products.

Additional data is forthcoming including the long-term outcomes of iovera° and ZILRETTA, outcomes of repeat dosing of ZILRETTA and post TKA outcomes of EXPAREL.

Label and Global Activities

• Pediatrics.

We are launching a Phase 1 pharmacokinetic study after which we would launch a registration study to support expansion of the EXPAREL single-dose infiltration label to include patients under six years of age.

If successful, we expect this study, followed by a Phase 3 study, will support expansion of the EXPAREL labels in the U.S.

We are conducting a Phase 1 pharmacokinetic study after which we would launch a registration study to support expansion of the EXPAREL single-dose infiltration label to include patients under six years of age.

If successful, we expect this study, followed by a Phase 3 study, will support expansion of the EXPAREL labels in the U.S., E.U.

and United Kingdom, or U.K.

We are also discussing with the FDA, EMA and Medicines and Healthcare Products Regulatory Agency (MHRA) our regulatory strategy for EXPAREL administered as a nerve block in the pediatric setting.

We received notification from the FDA in October 2023 that our pediatric studies requirement had been waived for the indication of brachial plexus interscalene nerve block to produce postsurgical regional analgesia in pediatric patients as well as sciatic nerve block in the popliteal fossa and adductor canal block indications in October 2024.

We have successfully completed Part 1 of the Phase 1 pharmacokinetic pediatric study in children aged two to less than six years of age and have initiated enrollment for Part 2 of the study in children aged six months to less than two years of age using the same dosage that was utilized in Part 1.

• Global activities.

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where our products can be financially viable and deliver value.

We are actively seeking potential commercial partners to realize that potential.

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 12

We are actively seeking potential commercial partners to realize that potential, and in January 2026, we and LG Chem, Ltd., or LG Chem, entered into a partnership agreement designed to expand access to EXPAREL in select Asian–Pacific markets.

For more information, see Other Agreements below.

We believe ZILRETTA’s extended-release profile may also provide effective treatment for OA pain of the shoulder, and in 2024 launched a Phase 3 trial investigating ZILRETTA as a treatment for OA pain of the shoulder.

The shoulder study will compare ZILRETTA to immediate release TA.

The shoulder study will compare ZILRETTA to placebo.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 13

In 2022, we launched a next-generation iovera° handheld device, which we believe is more efficient, provides more consistent treatment, is easier for providers to use and is more durable.

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Clinical Development Programs

PCRX-201 (enekinragene inzadenovec) is our novel gene therapy vector platform in clinical development as a treatment for OA of the knee.

Its innovative high-capacity adenovirus, or HCAd, design, manufacturing process, and local administration may solve many of the challenges that have made gene therapy inaccessible for common diseases like OA.

Key features of the HCAd vector that support its use for treatments targeting large prevalent diseases like OA:

• Medicine where it matters.

PCRX-201 is injected locally into the knee joint to boost cellular interleukin 1 receptor antagonist (IL-1Ra) production and block IL-1 pathway activation, significantly reducing chronic inflammation.

• Overcomes gene therapy pitfalls.

PCRX-201’s innovative HCAd vector is more efficient at delivering genes into cells than other vectors, which means less medication needed to achieve the desired effect.

• Protein production only when needed.

PCRX-201 uses an inflammation-responsive promoter to only produce IL-1Ra when needed, mimicking the body’s natural response to inflammation.

• Attractive cost of goods profile, Smaller doses, localized administration and scalable manufacturing processes translate to an attractive cost of goods profile because we could potentially make many thousands of doses in a single batch.

PCRX-201 is the lead program from our HCAd platform and we believe it underscores its promise for treating common diseases given its encouraging data in OA.

PCRX-201 is targeting the IL-1 pathway, which triggers inflammation in response to pathogens and cellular stress.

IL-1Ra is a core regulator of this pathway and helps to keep inflammation in balance by turning off the IL-1 pathway when it’s not needed.

As people get older, their bodies have a more challenging time maintaining that balance resulting in chronic IL-1-driven inflammation that eventually causes joint damage and pain.

After injection of PCRX-201, the HCAd vector enters joint cells and turns them into factories to boost cellular IL-1Ra production, which blocks IL-1 pathway activation to reduce inflammation and pain in the knee.

PCRX-201 uses an inflammation-responsive promoter to only produce IL-1Ra when needed, mimicking how the body naturally responds to inflammation.

In a Phase 1 proof-of-concept study of patients with moderate to severe OA of the knee, PCRX-201 was well tolerated with improvements in knee pain observed across all doses.

The study enrolled 72 patients who were broken into two cohorts.

The first cohort received one of three doses of PCRX-201.

The second cohort received concurrent pre-treatment with an IA corticosteroid (methylprednisolone 40 mg), a technique common in gene therapy dosing to improve tolerability and gene transfer.

PCRX-201 was well tolerated, with efficacy observed through at least 52 weeks at all doses and cohorts.

The highest level of efficacy was achieved in the co-administered steroid group, which showed a greater percentage of patients with at least a 50% improvement in Western Ontario and McMaster Universities Osteoarthritis Index (WOMAC) pain and stiffness scores, as well as a meaningful improvement in Knee Injury and Osteoarthritis Outcomes Score (KOOS) functional assessment.

In all 3 doses, over 70% of patients saw a 50% or greater improvement in pain compared to baseline at week 16 and 78.

PCRX-201 was well-tolerated with no serious treatment-emergent adverse events related to the treatment or procedure reported regardless of steroid pretreatment or dose level administered.

While other therapies typically provide relief for three to six months, PCRX-201 has shown the potential to set a new standard with pain relief lasting at least 2 years from a single injection.

Given these highly encouraging Phase 1 data, we are advancing a Phase 2 clinical study in knee OA.

The two-part, multicenter study—known as ASCEND—will involve approximately 135 patients, 45 to 80 years old with painful OA of the knee at a Kellgren-Lawrence (K-L) Grade of 2, 3 or 4.

Subjects are randomly assigned to a treatment dose group and stratified by K-L Grade, a semiquantitative method for evaluating the severity of OA on a scale of 0-4.

ASCEND will evaluate two doses of PCRX-201, Dose A is 1.4 x 10 10 genome copies and Dose B is 1.4 x 10 11 genome copies.

Patients are being randomized 1:1:1 to Dose A, Dose B or saline.

All cohorts will receive concurrent pretreatment with an IA corticosteroid (methylprednisolone 40 mg).

Part A of the study randomized approximately 45 patients and Part B will randomize approximately 90 patients.

The drug product used in Part B of the study will be manufactured using our newly developed, suspension-based batch manufacturing process intended for commercial scale-up.

We recently achieved our enrollment target for Part A of the study and expect to report results from a pre-specified interim analysis before the end of 2026.

For both Parts A and B of the study, the primary endpoint is the number and percent of treatment-emergent adverse events, adverse events of special interest, and serious adverse events for PCRX-201 plus steroid pretreatment versus saline plus steroid pretreatment from Week 1 through Week 52.

The study’s secondary and exploratory endpoints include efficacy assessments such as changes in pain and physical function from baseline at Weeks 38 and 52.

Efficacy will be measured using the Numerical Rating Scale (NRS), WOMAC and KOOS.

Biomarkers, including structural endpoints, as well as immunogenicity and biodistribution will also be evaluated and all subjects will be followed for 5 years.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 14

PCRX-201 has received Regenerative Medicine Advanced Therapy, or RMAT, designation from the FDA and Advanced Therapy Medicinal Products, or ATMP, designation from the EMA.

RMAT and ATMP are regulatory programs designed to expedite the development and review processes for promising therapies targeting a significant unmet need with preliminary clinical evidence indicating that the therapy has the potential to offer a major advantage over existing treatments.

IL-1’s Role in Inflammation

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PCRX-201 is a gene therapy that boosts cellular IL-1Ra production, which blocks IL-1 pathway activation and dampens down chronic inflammation in the knee.

It uses an inflammation-responsive promoter to only produce IL-1Ra when needed,

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| 2024 Annual Report on Form 10-K | Page 13

mimicking how the body naturally responds to inflammation.

It uses an inflammation-responsive promoter to only produce IL-1Ra when needed, mimicking how the body naturally responds to inflammation.

It is delivered directly into the knee joint capsule providing durable pain relief where it matters most and with no to minimal systemic exposure.

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While other therapies typically provide relief for three to six months, PCRX-201 has already set a new standard with a year or more of sustained pain relief from a single injection.

Given these highly encouraging Phase 1 data, we opened enrollment in a randomized, double-blind Phase 2 clinical study in knee OA in February 2025.

Given these highly encouraging Phase 1 data, we completed enrollment in Part A of a randomized, double-blind Phase 2 clinical study in knee OA in November 2025.

Further, a Part B randomized, double-blind Phase 2 clinical study in knee OA will be initiated in the second half of 2026.

In February 2024, the FDA granted PCRX-201 a Regenerative Medicine Advanced Therapy, or RMAT, designation.

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PCRX-201 is the first gene therapy product candidate to receive RMAT designation for OA.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 15

HCAd Vector Platform

The HCAd vector platform solves many of the challenges in the field of genetic medicine that have prevented its utilization in treating common diseases like OA.

Our proprietary HCAd vector platform solves many of the challenges in the field of genetic medicine that have prevented its utilization in treating common diseases like OA.

Key features include:

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• Genetic medicines based on the HCAd platform can be administered locally and have the potential for redosing at therapeutically appropriate intervals.

• Lower dose levels and efficient delivery of genes into cells means that thousands of doses can potentially be produced in a single batch.

As a result, therapies built on the HCAd platform are expected to have a commercially attractive and viable cost of goods profile.

In addition to PCRX-201 which is based on the HCAd vector platform, we have identified other well-validated cytokines that could be the basis for additional locally administered genetic therapies using the HCAd vector platform.

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 14

External Innovation

In parallel to our internal clinical programs, we are pursuing innovative acquisition targets that are complementary to EXPAREL, ZILRETTA and iovera° and are of great interest to the surgical and anesthesia audiences we are already calling on today.

We are using a combination of strategic investments, in-licensing and acquisition transactions to buildout a pipeline of innovation to improve patients’ journeys along the neural pain pathway.

The strategic investments we have made to support promising early-stage platforms are summarized below:

Company Development Stage Description of Platform Technology Potential Therapeutic Areas

CarthroniX, Inc.

Phase 1-Ready CX-011, a small molecule modulator of gp130 formulated as an IA injection designed to slow joint degeneration by mediating IL-6 cytokines Knee OA

Genascence Corporation Phase 1b Adeno-associated virus (AAV) based gene therapy engineered to deliver Interleukin-1 Receptor Antagonist (IL-1Ra) to target cells in joint(s)

Spine BioPharma, LLC Phase 3 SB-01, a 7-amino acid chain peptide that binds to and induces down regulation of transforming growth factor, beta 1 (TGFβ1)

Degenerative disc disease (DDD)

• Lower dose levels mean that thousands of doses can be produced in a single batch.

As a result, we expect that any therapies built on the HCAd platform would have a commercially attractive and viable cost of goods profile.

Other HCAd Product Candidates

In addition to PCRX-201, we currently have prioritized three other preclinical HCAd-based gene therapy programs that we believe have disease modifying potential in other painful conditions.

These include Investigational New Drug (IND) enabling studies of PCRX-1002 for Dry Eye Disease and PCRX-1003 for Degenerative Disc Disease.

We also intend to conduct animal studies for PCRX-1001, which we believe has out-licensing potential for OA in dogs and other companion animals.

In November 2025, we and AmacaThera, Inc., or AmacaThera, a clinical-stage biotechnology company specializing in drug delivery, announced an exclusive worldwide license agreement for the development and commercialization of PCRX-2002 (previously known by AmacaThera as AMT-143), a long-acting formulation of the non-opioid analgesic ropivacaine for postsurgical pain.

PCRX-2002 is a slow-release, non-opioid local analgesic providing long-acting post-operative pain relief.

It is administered via instillation at the time of the surgery and leverages AmacaThera’s innovative hydrogel platform, a fast-gelling physical hydrogel composed of two well-established polymers enabling slow-release while minimizing systemic side effects.

It is delivered via a conventional syringe and rapidly forms a depot as it warms to body temperature.

In a Phase 1 study, PCRX-2002 demonstrated sustained release of ropivacaine through 14 days.

We and AmacaThera expect to initiate a Phase 2 program in 2026.

Customer-Facing Organization

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• collaborating with healthcare providers towards improving the knowledge and management of pain in surgical and OA patients with a focus on opioid risk and non-opioid alternatives and engaging our field-based medical teams in system-wide partnerships to address the national opioid epidemic, with a goal of studying alternative postsurgical pain management options that focus on optimization and opioid alternative strategies;

• facilitating reimbursement and the shift of procedures to hospital outpatient and ambulatory surgical center, or ASC, sites of care.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 16

• facilitating reimbursement and the shift of procedures to hospital outpatient and ASC sites of care.

Other Agreements

GQ Bio Acquisition

In February 2025, Pacira Therapeutics, Inc., our wholly-owned subsidiary, entered into a securities purchase agreement to acquire the remaining 81% of GQ Bio that we did not already own for $30.6 million, net of working capital adjustments.

GQ Bio was a privately-held biopharmaceutical company with a novel, high-capacity, local-delivery platform that makes genetic medicines more efficient and enables the use of large and multiple gene constructs.

PCRX-201 is the lead program from this platform.

By acquiring GQ Bio, we benefit from further developing PCRX-201, recognize cost savings associated with no longer being obligated to make milestone and royalty payments to GQ Bio, as well as establishing an R&D engine with a dedicated workforce focused on this next-generation of genetic medicine and acquiring a portfolio of preclinical assets utilizing GQ Bio’s HCAd gene therapy vector platform and assets with disease-modifying potential in prevalent musculoskeletal diseases.

For more information, see Note 4, GQ Bio Therapeutics Acquisition , to our consolidated financial statements included herein.

Flexion Acquisition

On November 19, 2021, we completed the Flexion Acquisition pursuant to an Agreement and Plan of Merger (the “Flexion Merger Agreement”), dated as of October 11, 2021, by and among us, Oyster Acquisition Company Inc., a Delaware corporation and wholly owned subsidiary of Pacira (“Purchaser”), and Flexion.

Following the completion of a successful tender offer for the shares of Flexion’s common stock, Purchaser merged with and into Flexion with Flexion surviving as a wholly

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 15

owned subsidiary of Pacira.

Following the completion of a successful tender offer for the shares of Flexion’s common stock, Purchaser merged with and into Flexion with Flexion surviving as a wholly owned subsidiary of Pacira.

We changed the name of Flexion to Pacira Therapeutics, Inc.

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The lawsuit seeks a declaration from the court that we owe no royalties to RDF with respect to our EXPAREL product after December 24, 2021.

On August 8, 2023, the United States District Court, District of Nevada, granted our motion for partial summary judgment in respect to our claim for a declaration that we no longer owe royalties for EXPAREL made under the 45-liter manufacturing process as of December 24, 2021.

In August 2023, the U.S.

District Court, District of Nevada, granted our motion for partial summary judgment in respect to our claim for a declaration that we no longer owe royalties for EXPAREL made under the 45-liter manufacturing process as of December 24, 2021.

As a result, we expect to receive $14.5 million from RDF, representing the royalties that we paid to RDF under protest after December 24, 2021 for EXPAREL made from the 45-liter manufacturing process.

In November 2023, the United States District Court, District of Nevada conducted a mediation that did not result in a settlement.

During the pendency of the remaining lawsuit, we will continue to pay royalties associated with our enhanced larger-scale manufacturing process to RDF under protest.

We are unable to predict the outcome of this action at this time.

In November 2023, the U.S.

District Court, District of Nevada conducted a mediation that did not result in a settlement.

In June 2025, the U.S.

District Court for the District of Nevada issued judgment in our favor declaring that RDF was required to repay us $23.1 million in royalties on EXPAREL sales that were previously paid under protest.

The Nevada Court also awarded us an additional interest payment of $5.2 million in statutory interest on the royalties paid under protest.

In May and September 2025, RDF filed two notices of appeal.

A consolidated appeal is pending.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 17

For more information, see Note 20, Commitments and Contingencies , to our consolidated financial statements included herein.

Aratana Therapeutics, Inc.

Paragraph IV Certification Litigation Settlement

In October 2021, December 2021, April 2023 and May 2024, we received Notice Letters advising that eVenus Pharmaceutical Laboratories, Inc., or eVenus, of Princeton, New Jersey, submitted to the FDA an Abbreviated New Drug Application, or ANDA, with a Paragraph IV certification seeking authorization for the manufacturing and marketing of a generic bupivacaine liposome injectable suspension in the U.S.

prior to the expiration of certain of our U.S.

In April 2025, we, along with our operating subsidiary, Pacira Pharmaceuticals, Inc., entered into a settlement agreement with eVenus, its parent company (Jiangsu Hengrui Pharmaceuticals, Co.

Ltd., or Jiangsu Hengrui) and Fresenius Kabi USA, LLC, or Fresenius, (together, the “eVenus ANDA Filers”) with respect to the litigations noted above.

Pursuant to the settlement agreement, the eVenus ANDA Filers will be enjoined from marketing a generic bupivacaine liposome injectable suspension before the expiration of the patents-in-suit, except as provided for in the settlement agreement, as described below.

In settlement of all outstanding claims in the litigations, we agreed to provide the eVenus ANDA Filers with a license to our patents required to manufacture and sell certain volume-limited amounts of a generic bupivacaine liposome injectable suspension in the U.S.

beginning on a confidential date that is sometime in early 2030.

While the agreed-upon volume-limited percentages are confidential, they begin at a high single-digit percentage of the total volumes distributed in the U.S.

market and increase gradually in each 12-month period following the volume-limited entry date until reaching a percentage in the low thirties in 2033 and increasing modestly in each of the next two 12-month periods before reaching a maximum percentage in the high thirties of the total volumes distributed in the U.S.

for the final three years of the agreement.

In addition, we have agreed to provide the eVenus ANDA Filers with a license to its patents required to manufacture and sell an unlimited quantity of a generic bupivacaine liposome injectable suspension in the U.S.

beginning on a confidential date in 2039.

In addition, in recognition of our expected savings with respect to, among other things, the avoidance of fees, costs, time and resources associated with continuing the litigations, we paid the eVenus ANDA Filers $7.0 million.

For more information, see Note 20, Commitments and Contingencies , to our consolidated financial statements included herein.

Aratana Therapeutics

In December 2012, we entered into an Exclusive License, Development and Commercialization Agreement and related Supply Agreement with Aratana Therapeutics, Inc., a wholly owned subsidiary of Elanco Animal Health, Inc., or Aratana.

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Either party has the right to terminate the license agreement in connection with certain events and unless terminated earlier pursuant to its terms, the license agreement is effective until July 2033, after which Aratana has the option to extend the agreement for an additional five-year term, subject to certain requirements.

Johnson & Johnson MedTech

In July 2025, we entered into a co-promotion agreement with Johnson & Johnson MedTech, or J&J MedTech, (the “J&J Agreement”), to market and promote the use of ZILRETTA for OA knee pain in the U.S.

J&J MedTech’s specialized early intervention sales force will extend the reach of ZILRETTA beyond orthopedic practices, into multiple new physician specialties, including sports medicine, osteopathy, pain management and rheumatology.

Under the J&J Agreement, J&J MedTech is the exclusive third-party co-promoter for ZILRETTA in the U.S.

The initial term of the J&J Agreement extends through 2031 with an option to extend under mutual agreement.

We will continue to recognize all revenue from sales of ZILRETTA.

As compensation for its promotional efforts, for the first 12 months of the J&J Agreement we will pay J&J MedTech a minimum monthly commission.

For the remaining term of the agreement, we will pay a tier-based commission with higher commission percentages earned at higher annual ZILRETTA sales levels.

J&J MedTech will receive a tiered commission ranging from low single digits to double digits.

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 16

GQ Bio Therapeutics GmbH

In April 2023, we entered into a process development agreement with GQ Bio Therapeutics GmbH, or GQ Bio, for the development of a commercially scalable manufacturing process for the production of PCRX-201.

The agreement calls for us to pay GQ Bio upon the achievement of three milestones that can be achieved independently of each other.

Milestone 1 includes a €0.5 million payment to GQ Bio for the execution and completion of a feasibility assessment proposal for scalable process to support milestone 2.

Achieving milestone 2 is associated with the development of a qualified program process for PCRX-201 where GQ Bio would build a direct manufacturing cost of a PCRX-201 unit.

Based on the direct manufacturing cost, we would pay GQ Bio a success fee within a scale of €0.5 million up to €7.5 million, plus royalties within a scale of 0.25% to 3.75% of net sales associated with PCRX-201.

The achievement of milestone 3 requires us to pay GQ €0.5 million for delivering a validatable manufacturing process and validated analytical control package necessary for initiating process validation.

In February 2025, Pacira Therapeutics, Inc., a wholly-owned subsidiary of the Company, entered into a securities purchase agreement to acquire the remaining 81% of GQ Bio that was not already owned by us.

For more information on the GQ Bio Acquisition, see Note 21, Subsequent Events , to our consolidated financial statements included herein.

As of the date of this Annual Report, GQ Bio is a wholly-owned subsidiary of the Company.

| 2025 Annual Report on Form 10-K | 18

For more information, see Note 20, Commitments and Contingencies , to our consolidated financial statements included herein.

In November 2025, we and AmacaThera entered into an exclusive worldwide license agreement (the “AmacaThera Agreement”) for the development and commercialization of PCRX-2002, a long-acting formulation of the non-opioid analgesic ropivacaine for postsurgical pain.

Under the terms of the AmacaThera agreement, the Company made an upfront payment of $5.0 million to AmacaThera, recorded as R&D expense during the year ended December 31, 2025, with the potential for future development- and sales-based milestone payments and a tiered royalty on future net product sales.

For more information, see Note 19, Commercial Partners and Other Agreements , to our consolidated financial statements included herein.

In January 2026, we and LG Chem entered into a partnership agreement designed to expand access to EXPAREL in select Asian–Pacific markets.

Under the terms of the partnership, LG Chem has the exclusive rights to commercialize EXPAREL in the region.

We received a $2.0 million upfront payment that we will recognize over the license term upon commercialization and will also receive a transfer price and tiered royalties on future commercial sales by LG Chem in its licensed territories.

We will manufacture EXPAREL and LG Chem will be responsible for securing regulatory approvals in the licensed territories.

LG Chem plans to file for marketing authorizations in South Korea and Thailand in 2026.

Significant Customers

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EXPAREL is delivered directly to end-users without the wholesalers ever taking physical possession of the product.

None of our customers of ZILRETTA or iovera° accounted for 10 percent or more of our total revenue for the year ended December 31, 2024.

There were no other customers of EXPAREL, ZILRETTA or iovera° that accounted for 10 percent or more of our total revenue for the year ended December 31, 2025.

Manufacturing and Research Facilities

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We manufacture EXPAREL and iovera° handpieces at our facility in San Diego, California.

We also have a mixed-use research and development, manufacturing and office facility which sits adjacent to our EXPAREL and iovera° handpiece manufacturing facility, and a warehouse located within five miles of these facilities.

We also have a mixed-use R&D, manufacturing and office facility which sits adjacent to our EXPAREL and iovera° handpiece manufacturing facility, and a warehouse located within five miles of these facilities.

We refer to these three buildings as our Science Center Campus, and together they measure approximately 195,000 square feet.

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Our 84,000 square-foot EXPAREL manufacturing facility at the Science Center Campus is located on a five-acre site.

It was custom built as a pharmaceutical research and development and manufacturing facility.

It was custom built as a pharmaceutical R&D and manufacturing facility.

Activities in this facility include the manufacture of EXPAREL bulk product on dedicated production lines and its fill/finish into vials, microbiological and quality control testing, product storage, development of analytical methods and manufacturing of development products.

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This enhanced, large-scale manufacturing suite received FDA approval in February 2024.

Our 90,000 square-foot mixed-use research and development, manufacturing and office facility is located adjacent to our EXPAREL manufacturing facility and was completely renovated in 2020 to meet our specifications.

Our 90,000 square-foot mixed-use R&D, manufacturing and office facility is located adjacent to our EXPAREL manufacturing facility and was completely renovated in 2020 to meet our specifications.

We manufacture all of the iovera° handpieces at this facility.

This building also houses our Science Center related research and development activities and general and administrative functions, as it includes both laboratories and the building infrastructure necessary to support the formulation, analytical testing, clinical and process development activities for manufacturing additional commercial product indications and new pipeline products.

This building also houses our Science Center related R&D activities and general and administrative functions, as it includes both laboratories and the building infrastructure necessary to support the formulation, analytical testing, clinical and process development activities for manufacturing additional commercial product indications and new pipeline products.

Our pilot plant suite for early-stage clinical product production is located in this building, and there is additional space for future expansion opportunities.

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| 2024 Annual Report on Form 10-K | Page 17

| 2025 Annual Report on Form 10-K | 19

We also occupy a 21,000 square-foot warehouse that serves as the main CGMP warehouse for our Science Center Campus operations, primarily being used for the storage of production materials.

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In April 2014, we entered into a Strategic Co-Production Agreement, Technical Transfer and Service Agreement and Manufacturing and Supply Agreement (the “EXPAREL Manufacturing and Supply Agreement”) with Thermo Fisher Scientific Pharma Services, or Thermo Fisher, to collaborate in the manufacture of EXPAREL.

Thermo Fisher undertook certain technical transfer activities and construction services to prepare Thermo Fisher’s Swindon, United Kingdom, or U.K., facility for the manufacture of EXPAREL in a dedicated manufacturing suite.

Thermo Fisher undertook certain technical transfer activities and construction services to prepare Thermo Fisher’s Swindon, U.K.

facility for the manufacture of EXPAREL in a dedicated manufacturing suite.

We provided Thermo Fisher with the equipment necessary to manufacture EXPAREL and paid fees to Thermo Fisher based on Thermo Fisher’s achievement of certain technical transfer and construction milestones.

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Upon termination of the ZILRETTA Manufacturing Agreement (other than termination by us in the event that Thermo Fisher does not meet the manufacturing milestones or for a breach by Thermo Fisher), we will be obligated to pay for the costs incurred by Thermo Fisher associated with the removal of our manufacturing equipment and for Thermo Fisher’s termination costs up to a specified capped amount.

Carlisle Companies, Inc.

In January 2020, we and Carlisle Companies, Inc., or Carlisle, entered into a Manufacturing and Supply Agreement (the “Carlisle Agreement”) to collaborate in the manufacture of iovera° Smart Tips at Carlisle’s Tijuana, Mexico facility.

The initial term of the Carlisle Agreement is five years with automatic one-year extensions unless either party provides prior notice in

Amphenol Corporation

In January 2020, we and a predecessor company to Amphenol Corporation, or Amphenol, entered into a Manufacturing and Supply Agreement (the “Amphenol Agreement”) to collaborate in the manufacture of iovera° Smart Tips at Amphenol’s Tijuana, Mexico facility.

The initial term of the Amphenol Agreement is five years with automatic one-year extensions unless either party provides prior notice in writing.

Under the Amphenol Agreement, we pay fees based on the amount of iovera° Smart Tips delivered by Amphenol.

Since April 2022, all iovera° Smart Tips have been produced by Amphenol.

The Amphenol Agreement may be terminated by either party upon one year’s written notice without cause.

We may terminate the Amphenol Agreement upon thirty days’ written notice in the event that iovera° is withdrawn from the market or

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 18

Under the Carlisle Agreement, we pay fees based on the amount of iovera° Smart Tips delivered by Carlisle.

Since April 2022, all iovera° Smart Tips have been produced by Carlisle.

The Carlisle Agreement may be terminated by either party upon one years’ written notice without cause.

We may terminate the Carlisle Agreement upon thirty days’ written notice in the event that iovera° is withdrawn from the market or no longer sold by us.

Either party may terminate the Carlisle Agreement in the event of the breach or bankruptcy of the other party.

| 2025 Annual Report on Form 10-K | 20

no longer sold by us.

Either party may terminate the Amphenol Agreement in the event of the breach or bankruptcy of the other party.

Jubilant Hollisterstier, LLC

In January 2025, we and Jubilant Hollisterstier, LLC, or Jubilant, entered into a Manufacture and Supply Agreement (the “Jubilant Agreement”) to collaborate in the manufacture of the diluent for ZILRETTA at Jubilant’s Spokane, Washington facility.

The initial term of the Jubilant Agreement is three years with extensions available under the mutual consent of both parties.

Under the Jubilant Agreement, we pay a fixed cost per vial of ZILRETTA diluent delivered by Jubilant.

Either party may terminate the Jubilant Agreement in the event of the breach or bankruptcy of the other party.

Intellectual Property and Exclusivity

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Our issued patents expire at various dates in the future, as discussed below, with the last currently issued patent for the pMVL drug delivery technology expiring in 2044, the last currently issued patent for ZILRETTA expiring in 2031 and the last currently issued utility patent for the iovera° technology expiring in 2040.

Additionally, since our February 2025 acquisition of GQ Bio, we have filed multiple provisional patents in the U.S.

for our gene therapy product candidates.

Patents and Patent Applications for our pMVL and pMVL Products

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In November 2024, the USPTO issued U.S.

12,144,890 and 12,151,024, claiming composition of EXPAREL prepared by the improved UK manufacturing process, and both composition of EXPAREL and composition of EXPAREL prepared by the improved UK manufacturing process, respectively.

12,144,890 and 12,151,024, claiming composition of EXPAREL prepared by the improved U.K.

manufacturing process, and both composition of EXPAREL and composition of EXPAREL prepared by the improved U.K.

manufacturing process, respectively.

In December 2024, the USPTO issued U.S.

12,178,909, claiming the improved EXPAREL UK manufacturing process.

12,178,909, claiming the improved EXPAREL U.K.

manufacturing process.

In May 2025, the USPTO issued U.S.

12,296,047, claiming composition of EXPAREL prepared by the improved U.K.

manufacturing process.

All 16 patents issued between 2021 and 20254 have an expiration date of January 22, 2041.

11,033,495, 11,179,336, 11,278,494, 11,304,904, 11,311,486, 11,357,727, 11,426,348, 11,452,691, 11,819,574, 11,819,575, 11,925,706, 12,144,890, 12,151,024 and 12,296,047 are currently listed in the FDA’s “ Approved Drug Products with Therapeutic Equivalence Evaluations ” (the “Orange Book”).

In October 2021, we received a Notice Letter advising that eVenus Pharmaceutical Laboratories, Inc., or eVenus, of Princeton, New Jersey, submitted to the FDA an Abbreviated New Drug Application, or ANDA with a Paragraph IV certification seeking authorization for the manufacturing and marketing of a generic version of EXPAREL (266 mg/20 mL) in the U.S.

In October 2021, we received a Notice Letter advising that eVenus submitted to the FDA an ANDA with a Paragraph IV certification seeking authorization for the manufacturing and marketing of a generic version of EXPAREL (266 mg/20 mL) in the U.S.

prior to the expiration of U.S.

In August 2024, the U.S.

District Court for the District of New Jersey issued its ruling in our patent infringement suit against eVenus and its parent company (Jiangsu Hengrui

District Court for the District of New Jersey issued its ruling in our patent infringement suit against eVenus and its parent company (Jiangsu Hengrui) for

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 19

Pharmaceuticals, Co.

Ltd., or Jiangsu Hengrui) for infringement of EXPAREL U.S.

| 2025 Annual Report on Form 10-K | 21

infringement of EXPAREL U.S.

The ruling found that this patent is not valid on the grounds of obviousness and anticipation.

A notice of appeal was filed in September 2024 and remains pending.

For information on this matter, as well as other subsequent patent litigation lawsuits against eVenus, Jiangsu Hengrui and Fresenius Kabi USA, LLC, or Fresenius, see Note 19, Commitments and Contingencies , to our consolidated financial statements included herein.

For information on this matter, as well as other subsequent patent litigation lawsuits against eVenus, Jiangsu Hengrui and Fresenius, see Note 20, Commitments and Contingencies , to our consolidated financial statements included herein.

In October 2025, we received two separate Paragraph IV Certifications from two Chinese generic drug manufacturers (The WhiteOak Group, Inc., or WhiteOak, of Rockville, Maryland (a subsidiary of Zhejiang Haichang Biotechnology Co., Ltd.) and Qilu Pharmaceutical (Hainan) Co., Ltd., or Qilu), each advising that they had submitted an ANDA to the FDA seeking authorization from the FDA to manufacture, use or sell a generic version of EXPAREL in the U.S.

Each letter alleged that EXPAREL patents listed in the Orange Book are not valid, not enforceable, and/or will not be infringed by the commercial manufacture, use or sale of the proposed products described in these ANDA submissions.

In November 2025, we filed a patent infringement suit against WhiteOak and Qilu in the U.S.

District Court of the District of Delaware (25-cv-1445) asserting infringement of U.S.

11,033,495 (the ‘495 patent), U.S.

11,819,574 (the ‘574 patent) U.S.

12,144,890 (the ‘890 patent), U.S.

12,151,024 (the ‘024 Patent), U.S.

12,156,940 (the ‘940 patent), U.S.

12,251,468 (the ‘468 Patent), U.S.

12,296,047 (the ’047 Patent), U.S.

12,318,483 (the ‘483 Patent), and U.S.

12,370,142 (the ‘142 Patent).

On January 23, 2026 and February 5, 2026, Qilu and WhiteOak, respectively, each answered the complaint and asserted affirmative defenses and counterclaims asserting, inter alia, invalidity, unenforceability and non-infringement.

We intend to vigorously defend our intellectual property rights relating to EXPAREL and are unable to predict the outcome of this litigation at this time.

In December 2024, the USPTO also issued U.S.

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large-scale manufacturing process.

The ’940 patent has an expiration date of July 2, 2044 and is currently listed in the FDA’s Orange Book.

Furthermore, the USPTO also issued U.S.

In March 2025, the USPTO issued U.S.

12,246,092, 12,251,468 and 12,251,472, claiming the enhanced U.S.

large-scale manufacturing process, batch compositions of EXPAREL, and the enhanced U.S.

large-scale manufacturing process respectively.

Between April and July 2025, the USPTO also issued U.S.

12,280,149, 12,318,483 and 12,370,142, claiming the enhanced U.S.

large-scale manufacturing process, use of batch composition of EXPAREL for treating pain, and batch compositions of EXPAREL prepared by the enhanced U.S.

large-scale manufacturing process respectively.

All seven patents issued between 2024 and 2025 have an expiration date of July 2, 2044.

12,156,940, 12,251,468, 12,318,483 and 12,370,142 are currently listed in the FDA’s Orange Book.

In May 2025, we also filed a Patent Cooperation Treaty, or PCT, application based on the enhance U.S.

large-scale manufacturing process, and has entered the national phase in Argentina, Australia, Brazil, Canada, Europe, Hong Kong, Japan, South Korea, Mexico and Saudi Arabia, which, if granted, are expected to provide protection until 2045.

Furthermore, the USPTO issued U.S.

11,918,565 and 11,931,459 in March 2024, relating to use of EXPAREL as a sciatic nerve block and the pediatric use of EXPAREL, respectively.

11,918,565 and 11,931,459 have an expiration date of February 2, 2043 and March 17, 2042, respectively, both are currently listed in the FDA’s Orange Book.

11,918,565 and 11,931,459 have an expiration date of February 2, 2043 and March 17, 2042, respectively.

The USPTO also issued U.S.

12,226,610 in February 2025, relating to use of EXPAREL as an adductor canal block, with an expiration date of February 2, 2043.

All three patents are currently listed in the FDA’s Orange Book.

We also own a family of U.S.

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In October 2022, we filed a U.S.

application and a Patent Cooperation Treaty, or PCT, application relating to compositions of matter, processes of making and methods of treatment in connection with dexamethasone sodium phosphate-pMVL product.

application and a PCT application relating to compositions of matter, processes of making and methods of treatment in connection with dexamethasone sodium phosphate-pMVL product.

12,285,435 was issued in April 2025 with an expiration date in October 2042.

In addition, a U.S.

application and a PCT application were filed relating to compositions of matter, processes of making and methods of treatment in connection with a high-potency bupivacaine-pMVL product.

12,285,419 was issued in April 2025 with an expiration date in October 2042.

In 2023, we filed several U.S.

nonprovisional applications and PCT applications relating to the use of EXPAREL as a stellate ganglion block for managing cardiac arrhythmia and anxiety disorders, including electrical storm and post-traumatic stress disorder.

12,433,878 was issued in October 2025 with an expiration date in February 2043.

In 2024, we filed a U.S.

nonprovisional application relating to the use of EXPAREL as a stellate ganglion block for treating disorders associated with the sympathetic nervous system.

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Patents and Patent Applications for ZILRETTA

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described above.

In February 2024, we filed a PCT application relating to use ZILRETTA to treat OA pain in subpopulations of diabetic patients.

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We have also in-licensed intellectual property, owned by the Southwest Research Institute, or SwRI, which gives us exclusive rights to SwRI patents covering our proprietary microsphere manufacturing technology used in the production of ZILRETTA.

These patents are scheduled to expire in September 2025.

In February 2024, we filed a PCT application relating to use ZILRETTA to treat OA pain in subpopulations of diabetic patients, which has entered the national phase in the U.S., Australia, Canada, Europe, Japan, South Korea and Mexico, which, if granted, are expected to provide protection until 2044.

We also had in-licensed intellectual property, owned by the Southwest Research Institute, or SwRI, which gave us exclusive rights to SwRI patents covering our proprietary microsphere manufacturing technology used in the production of ZILRETTA.

These patents expired in September 2025.

Patents and Patent Applications for iovera°

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An important patent family specifically directed to systems and methods of treating pain offers both broad and variable coverage of cryogenic device features and methods of using the same for pain management, including single-use needle probes, particular needle sizes and shapes.

Patents in this family are set to expire between 2025 and 2028.

Patents in this family are set to start expiring in 2028.

Another important patent family has broad disclosure and coverage of a variety of indications for treatment by cryogenic devices, including joint function and stiffness, OA, occipital neuralgia, spasticity, neuroma and other nerve entrapment indications and is set to expire between 2033 and 2037.

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Other patents and applications cover methods of using needles with blunt tips and aspects of cryogenic devices coupled with a neurostimulator for locating nerves and are set to expire between 2035 and 2038.

There are also eight utility and design patent families covering various features of commercial and developing next-generation technology, which are issued or pending in the North American, European, Japanese, Chinese and Brazilian markets, which could potentially prevent others from using commercial and/or next-generation cryogenic devices until at least 2040 for utility patents and 2046 for design patents.

There are also 11 utility and design patent families covering various features of commercial and developing next-generation technology, which are issued or pending in the North American, Asia, Middle East, New Zealand, Australia, South African and Brazilian markets, which could potentially prevent others from using commercial and/or next-generation cryogenic devices until at least 2046 for utility patents and 2050 for design patents.

In addition, we also filed a U.S.

nonprovisional and a PCT application in 2023 covering the use of iovera° as a stellate ganglion block for managing cardiac arrhythmia, including electrical storm.

In December 2017, Flexion acquired the global rights to PCRX-201 from GQ, including a direct exclusive license of certain foundational patents, patent applications, and other proprietary rights owned by the Baylor College of Medicine, or BCM, that are related to PCRX-201 for human applications.

nonprovisional application in 2023 covering the use of iovera° as a stellate ganglion block for managing cardiac arrhythmia, including electrical storm.

12,508,062 issued in December 2025 with an expiration date in March 2044.

Patents and Patent Applications for PCRX-201

In December 2017, Flexion acquired the global rights to PCRX-201 from GQ Bio, including a direct exclusive license of certain foundational patents, patent applications, and other proprietary rights owned by the Baylor College of Medicine, or BCM, that are related to PCRX-201 for human applications.

These patents generally cover the composition of matter and method of use of PCRX-201 in the treatment of OA.

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10,301,647, which covers the composition of matter and method of use of PCRX-201 in the treatment of OA with a term through January 2033.

In addition, the BCM patents related to PCRX-201 are issued in Europe, with an expiry date in 2032, and in Australia, Canada, China, India, Japan and Eurasia with expiry dates in 2033.

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the BCM patents related to PCRX-201 are issued in Europe, with an expiry date in 2032, and in Australia, Canada, China, India, Japan and Eurasia with expiry dates in 2033.

We are continuing to prosecute one BCM U.S.

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We also have a family of patent applications pending in the U.S., Australia, Canada, China, Hong Kong, Europe, Japan and South Korea covering composition of matter and method of use of PCRX-201 for the treatment of degenerative disc disease, or DDD, which, if granted, are expected to provide patent protection until 2042.

In February 2024, we also filed a PCT application covering compositions and method of use of PCRX-201 in combination with a corticosteroid.

We also have a family of patent applications pending in the U.S., Australia, Canada, China, Europe, Hong Kong, India, Japan, South Korea, and Mexico covering compositions and method of use of PCRX-201 in combination with a corticosteroid.

In February 2025, as part of the GQ Bio Acquisition, we acquired an exclusive license of certain foundational patents and patent applications, and other proprietary rights owned by BCM related to an HCAd gene therapy vector encoding PRG4 gene for both human and veterinary applications.

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These patents expire in January 2034.

In addition, we also acquired a PCT application owned by GQ Bio related to HCAd gene therapy for treating DDD using nucleic acid encoding SOX-9, GDF5, TIMP3, SIRT6, TBXT, GLP-1, ANGPTL3 in combination with nucleic acid encoding IL-1Ra or PRG4.

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| 2024 Annual Report on Form 10-K | Page 21

Patents and Patent Applications for HCAd-Platform and Gene Therapy Product Candidates

Since our February 2025 acquisition of GQ Bio, we have filed multiple patent applications in the U.S.

for our gene therapy product candidates and large-scale manufacturing processes.

Additional Intellectual Property

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Trade secrets play an important role in protecting our pMVL-based products (including EXPAREL) and pipeline, ZILRETTA and iovera° and provide protection beyond patents and regulatory exclusivity.

The scale-up and commercial manufacture of each of our products involve processes, custom equipment and in-process and release analytical techniques that we believe are unique to us.

The scale-up and commercial manufacture of each of our products involves processes, custom equipment and in-process and release analytical techniques that we believe are unique to us.

The expertise and knowledge required to understand the critical aspects of our pMVL manufacturing steps requires knowledge of both traditional and non-traditional emulsion processing and traditional pharmaceutical production, overlaid with all of the challenges presented by aseptic manufacturing.

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Our competitors include organizations such as major multinational pharmaceutical companies, established biotechnology companies, specialty pharmaceutical companies and generic drug companies.

Many of our competitors have greater financial and other resources than we have, such as more commercial resources, larger research and development staffs and more extensive marketing and manufacturing organizations.

Many of our competitors have greater financial and other resources than we have, such as more commercial resources, larger R&D staffs and more extensive marketing and manufacturing organizations.

As a result, these companies may obtain marketing approval more rapidly than we are able and may be more effective in developing, selling and marketing their products.

Smaller or early-stage companies may also prove to be significant competitors, particularly through collaborative arrangements with large, established companies.

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Our competitors may succeed in developing, acquiring or licensing on an exclusive basis technologies and drug products that are more effective or less costly than EXPAREL or any other products that we are currently selling through partners or developing or that we may develop, which could render our products obsolete and noncompetitive.

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EXPAREL also competes with currently marketed non-opioid products such as bupivacaine, marcaine, ropivacaine and other anesthetics/analgesics, all of which are also used in the treatment of postsurgical pain and are available as either oral tablets, injectable dosage forms or administered using novel delivery systems.

Additional products may be developed for the treatment of acute pain, including new injectable NSAIDs, oral Na V 1.8 pain signal inhibitors, novel opioids, new formulations of currently

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| 2024 Annual Report on Form 10-K | Page 22

available opioids and NSAIDs, long-acting local anesthetics and new chemical entities as well as alternative delivery forms of various opioids and NSAIDs.

Additional products may be developed for the treatment of acute pain, including new injectable NSAIDs, oral Na V 1.8 pain signal inhibitors, novel opioids, new formulations of currently available opioids and NSAIDs, long-acting local anesthetics and new chemical entities as well as alternative delivery forms of various opioids and NSAIDs.

Currently EXPAREL also competes with elastomeric pumps and catheter devices intended to provide bupivacaine over several days and with off-label combinations of other approved analgesics, called “cocktails,” that are combined by compound pharmacies in an attempt to extend the duration of pain control.

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The cryotherapy pain management field in particular is a growing industry due to increased attention on opioid usage for pain, which has created a rapidly emerging market and has fueled an increased interest in opioid alternatives.

Many of our competitors in our space have greater financial and other resources than we have, such as more commercial resources, larger research and development staffs and more extensive marketing and manufacturing organizations.

Many of our competitors in our space have greater financial and other resources than we have, such as more commercial resources, larger R&D staffs and more extensive marketing and manufacturing organizations.

As a result, these companies may obtain marketing approval more rapidly than we are able and may be more effective in developing, selling and marketing their products.

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In the U.S., prescription drug and medical device products are subject to extensive pre- and post-market regulation by the FDA, including regulations that govern the research, development, testing, manufacturing, distribution, safety, efficacy, approval, labeling, storage, record keeping, reporting, advertising and promotion of such products under the Federal Food, Drug and Cosmetic Act, or FDCA, and its implementing regulations.

Outside the U.S., prescription drug and medical device products are regulated by comparable agencies (including the EMA and MHRA in the E.U.

Outside the U.S., prescription drug and medical device products

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are regulated by comparable agencies (including the EMA and MHRA in the E.U.

and U.K., respectively, as well as authorities in Canada and Latin America), laws and regulations.

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This process generally involves:

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| 2024 Annual Report on Form 10-K | Page 23

• completion of preclinical laboratory and animal testing and formulation studies in compliance with the FDA’s Good Laboratory Practice regulations;

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In the cases of some products for severe or life-threatening diseases, especially when the product may be too inherently toxic to ethically administer to healthy volunteers, the initial human testing often is conducted only on patients having the specific disease.

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Sponsors conduct clinical trials generally in a limited patient population to identify possible adverse effects and safety risks, to preliminarily evaluate the efficacy of the product for specific targeted indications and to determine dose tolerance, optimal dosage and dosing schedule.

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Some clinical trials may be overseen by an independent group of qualified experts organized by the clinical trial sponsor, known as a data safety monitoring board or committee.

This group provides authorization for whether or not a trial may move

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| 2024 Annual Report on Form 10-K | Page 24

forward at designated check points based on access to certain data from the trial.

This group provides authorization for whether or not a trial may move forward at designated check points based on access to certain data from the trial.

The process of completing clinical testing and obtaining FDA approval for a new drug is likely to take a number of years and requires the expenditure of substantial resources.

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Expanding the iovera° label to include the treatment of spasticity requires a clinical trial.

We currently have a pivotal trial underway to demonstrate the efficacy and safety of iovera° for treating spasticity.

We currently have a pivotal trial underway to demonstrate the efficacy and safety of iovera° for treating spasticity, which is expected to be completed in 2026.

Review and Approval Process

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For an sNDA, the FDA aims to complete its Standard Review within 10 months of submission and Priority Reviews within six months of submission.

Review processes may sometimes extend beyond these target completion dates due to FDA requests for additional information or clarification, difficulties scheduling an advisory committee meeting, negotiations regarding REMS or FDA workload issues, but in general under PDUFA the FDA is supposed to complete its reviews within the target timeframes despite these factors.

Review processes may sometimes extend beyond these target completion dates due to FDA requests for additional information or clarification,

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difficulties scheduling an advisory committee meeting, negotiations regarding REMS or FDA workload issues, but in general under PDUFA the FDA is supposed to complete its reviews within the target timeframes despite these factors.

The FDA may refer the application to an advisory committee for review, evaluation and recommendation as to the application’s approval.

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Additionally, the FDA will typically inspect one or more clinical sites to ensure compliance with GCP before approving an NDA.

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After the FDA evaluates the NDA and the manufacturing facilities, it may issue an approval letter or a Complete Response Letter, or CRL, to indicate that the review cycle for an application is complete and that the application is not ready for approval.

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Section 505(b)(2) was enacted as part of the Drug Price Competition and Patent Term Restoration Act of 1984 (also known as the Hatch-Waxman Act), and permits the submission of an NDA where at least some of the information required for approval comes from preclinical and/or clinical trials not conducted by or for the applicant.

The FDA interprets Section 505(b)(2) of the FDCA to permit the applicant to rely upon the FDA’s previous findings of safety and effectiveness for an approved product.

The FDA interprets Section 505(b)(2) of the FDCA to

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permit the applicant to rely upon the FDA’s previous findings of safety and effectiveness for an approved product.

The FDA may also require companies to perform additional clinical trials or measurements to support any change from the previously approved product.

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If the patent owner or NDA holder brings a patent infringement lawsuit within 45 days of such notice, the 505(b)(2) application cannot be approved for 30 months or until the 505(b)(2) applicant prevails, whichever is sooner.

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505(b)(2) applicant loses the patent infringement suit, the FDA may not approve the 505(b)(2) application until the patent expires, plus any period of pediatric exclusivity.

If the 505(b)(2) applicant loses the patent infringement suit, the FDA may not approve the 505(b)(2) application until the patent expires, plus any period of pediatric exclusivity.

In any future NDA submissions for our product candidates, we intend to follow the development and approval pathway permitted under the FDCA that we believe will maximize the commercial opportunities for these product candidates.

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• injunctions or the imposition of civil or criminal penalties.

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The FDA strictly regulates marketing, labeling, advertising and promotion of products that are placed on the market.

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In addition, the distribution of prescription pharmaceutical products is subject to the Prescription Drug Marketing Act, or PDMA, which regulates the distribution of drugs and drug samples at the federal level and sets minimum standards for the registration and regulation of drug distributors by the states.

Both the PDMA and state laws limit the distribution of prescription

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pharmaceutical product samples and impose requirements to ensure accountability in distribution, including a drug pedigree which tracks the distribution of prescription drugs.

Both the PDMA and state laws limit the distribution of prescription pharmaceutical product samples and impose requirements to ensure accountability in distribution, including a drug pedigree which tracks the distribution of prescription drugs.

Medical Devices

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A marketing application approved by the EC is valid in all E.U.

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member states and is recognized by the MHRA.

3 unchanged sentences

In addition to regulations in Europe and the U.S., we will be subject to regulations governing clinical trials, product approvals, and commercial distribution in the U.K, Canada, Latin America and any other jurisdictions in which EXPAREL, ZILRETTA, iovera° or any other future product is approved.

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Third-Party Payer Coverage and Reimbursement

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In December 2022, the N on- O pioids P revent A ddiction I n the N ation (“NOPAIN”) Act was signed into law as part of the Biden Administration’s Consolidated Appropriations Act of 2023.

The NOPAIN Act is preventative legislation aimed at tackling the opioid crisis by incentivizing the use of non-opioids to manage surgical pain for Medicare patients treated in ASC and hospital outpatient department, or HOPD, settings.

The NOPAIN Act is preventative legislation aimed at tackling the opioid crisis by incentivizing the use of qualifying non-opioid options to manage surgical pain for Medicare patients treated in ASC and HOPD settings.

This federal mandate requires Medicare to reimburse for non-opioid products, such as EXPAREL and iovera°, used during all surgeries conducted in the ASC or HOPD setting.

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and (ii) all devices used to deliver a therapy, reduce postoperative pain or produce postsurgical or regional analgesia.

Any drug or device that qualifies for reimbursement under the NOPAIN Act must have demonstrated the ability to reduce or avoid intraoperative opioid use or the quantity of opioids prescribed in a clinical trial or through data published in a peer-reviewed journal.

In order to qualify for reimbursement under the NOPAIN Act, a device must have demonstrated the ability to reduce or avoid intraoperative opioid use or the quantity of opioids prescribed in a clinical trial or through data published in a peer-reviewed journal.

The NOPAIN Act took effect on January 1, 2025.

This policy eliminates the cost burden associated with providing Medicare patients best-in-class opioid-sparing strategies, allowing institutions the financial flexibility to treat more patients with no- and low-opioid pain management strategies.

Congress is now working to extend access to these qualifying non-opioids, with the introduction of the NOPAIN for Veterans Act, which was introduced in the House (H.R.

5409) in July 2025, and in the Senate (S.

3209) in November 2025.

If passed, this legislation would expand

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veteran access to non-opioid alternatives by providing pathways for FDA-approved non-opioid treatments to be included in the VA National Formulary (VANF).

In October 2024, the Centers for Medicare and Medicaid Services, or CMS, established a permanent product-specific Healthcare Common Procedure Coding System, or HCPCS, J-code for EXPAREL.

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HOPDs and ASCs, that use these products now receive additional Medicare reimbursement effective January 1, 2025.

Additionally, separate reimbursement for iovera° will pay up to an additional $255.85 when providers administer iovera° in ASC and HOPD settings, using a new C-code created for iovera° (C9809).

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Medicare payment is provided in addition to the current reimbursement available to HOPDs and ASCs when they perform a procedure with iovera°.

The reimbursement rate for EXPAREL equates to 106% of the average sales price (ASP +6%) in the HOPD and ASC environments.

New reimbursement for iovera° includes a separate add-on payment of up to an additional $255.85 when providers administer iovera° in ASC and HOPD settings, using a new C-code created for the product (C9809).

This new Medicare payment is provided in addition to the current reimbursement available to HOPDs and ASCs when they perform a procedure with iovera°.

The marketability of our products may suffer if the government and third-party payers fail to provide adequate coverage and reimbursement.

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We must comply with the FDA’s CGMP requirements and comparable regulations in other countries.

The CGMP provisions include requirements relating to the organization of personnel, buildings and facilities, equipment, control of components and drug product containers and closures, production and process controls, packaging and labeling controls, holding and distribution, laboratory controls, records and reports and returned or salvaged products.

The CGMP provisions include requirements relating to the organization of personnel, buildings and facilities, equipment, control of

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components and drug product containers and closures, production and process controls, packaging and labeling controls, holding and distribution, laboratory controls, records and reports and returned or salvaged products.

The manufacturing facilities for our products must meet CGMP requirements to the satisfaction of the FDA and other authorities pursuant to a pre-approval inspection before we can use them to manufacture our products.

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We are subject to various federal and state laws pertaining to health care “fraud and abuse,” including anti-kickback laws and false claims laws.

Anti-kickback laws generally prohibit a prescription drug or medical device manufacturer from soliciting, offering, receiving, or paying any remuneration to generate business, including the purchase or prescription of a

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particular drug or device.

Although the specific provisions of these laws vary, their scope is generally broad and there may be no regulations, guidance or court decisions that clarify how the laws apply to particular industry practices.

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Benefits of such designation also include early interactions with the FDA to discuss any potential surrogate or intermediate endpoint to be used to support accelerated approval.

A regenerative medicine advanced therapy that is granted accelerated approval and is subject to post-approval requirements may fulfill such requirements through the submission of clinical evidence, clinical studies, patient registries, or other sources of real-world evidence, such as electronic health records;

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registries, or other sources of real-world evidence, such as electronic health records;

the collection of larger confirmatory data sets;

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HITECH also increased the civil and criminal penalties that may be imposed against covered entities, business associates and possibly other persons, and gave state attorneys general new authority to file civil actions for damages or injunctions in federal courts to enforce the federal HIPAA laws and seek attorney’s fees and costs associated with pursuing federal civil actions.

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Environmental Matters

Our research and development processes and our manufacturing processes involve the controlled use of hazardous materials and chemicals and produce waste products, including pharmaceutical residues.

We are subject to federal, state and local laws and regulations governing the use, manufacture, storage, handling and disposal of hazardous materials and waste products, including those related to pharmaceutical residues.

While we believe we are in compliance with applicable environmental regulations, the failure to fully comply with any such regulations could result in the imposition of penalties, fines and/or sanctions which could have a material adverse effect on our business.

Our R&D processes and our manufacturing processes involve the controlled use of hazardous materials and chemicals and produce waste products, including pharmaceutical residues.

We are subject to, and in compliance with, federal, state and local laws and regulations governing the use, manufacture, storage, handling and disposal of hazardous materials and waste products, including those related to pharmaceutical residues.

While we are in compliance with applicable environmental regulations, the failure to fully comply with any such regulations could result in the imposition of penalties, fines and/or sanctions which could have a material adverse effect on our business.

It is also possible that environmental issues may arise in the future which we cannot now predict.

1 unchanged sentence

We have a focus on raising awareness and educating our employees on reducing our internal use of consumables and natural resources.

In 2023, we achieved a certification whereby less than one percent of hazardous waste from our Science Center Campus in San Diego, California ended up in a landfill.

At our Science Center Campus in San Diego, California, one of our continuous improvement projects is to monitor and reduce the use of water, gas and electricity.

In 2024, we first achieved a certification whereby zero hazardous waste from our Science Center Campus in San Diego, California ended up in a landfill.

In addition, we have a broad range of recycling and waste management initiatives at our manufacturing facilities and corporate offices.

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We conduct our operations and manage our product and pipeline programs in a responsible manner and strive to comply with applicable laws, rules and regulations.

Over the past three years we provided support for charitable medical missions in Honduras, Ghana, Zambia, Guatemala, Ecuador, Mexico, India, Guyana, Palau, Nigeria and the Dominican Republic by donating EXPAREL to help support surgeries for patients in need;

have supported the Louisiana State University Opioid Minimization Initiative as well as made a three-year commitment beginning in 2022 to donate EXPAREL to not-for-profit children’s hospitals each year.

Over the past five years we have provided support for charitable medical missions in Honduras, Ghana, Zambia, Guatemala, Ecuador, Mexico, India, Guyana, Palau, Nigeria, Belize and the Dominican Republic by donating EXPAREL to help support surgeries for patients in need;

have supported the Louisiana State University Opioid Minimization Initiative, and have donated EXPAREL to not-for-profit children’s hospitals each year since 2022 with a commitment to do so through 2027.

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Pacira Gives Back

As part of our ongoing commitment to support the communities where we live and work, we support a corporate giving campaign— Pacira Gives Back —which allows our employees to find local volunteer opportunities in their communities and help encourage use of a paid day off per year, known as our Community Day.

Through Pacira Gives Back, employees can also make a donation to a not-for-profit organization of their choice with a dollar-for-dollar company match of up to $200 per employee annually.

Through Pacira Gives Back, employees can also make a donation to a not-for-profit organization of their choice.

Human Capital

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We believe in transparency, accountability and honesty, and we have the fortitude to make difficult decisions for the greater good.

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• We respect diverse talent and the collective power of a unified team .

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We regularly benchmark our rewards programs, adjusting as needed, to ensure our total rewards are competitive.

We are committed to paying all our employees a fair and living wage.

We are steadfast in our commitment to paying all our employees a fair and living wage.

We uphold fair and equitable pay practices and regularly evaluate our compensation programs to ensure they support this commitment.

Talent Management

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Many of our leaders participating in these programs advance to higher level positions within the organization.

We also support long-term career growth through Pacira Pathways , a structured career development framework designed to clarify career progression, identify critical experiences and build capabilities for future roles.

We are committed to soliciting employee feedback throughout their tenure with the organization, to shape organizational culture and to inform our people strategy.

1 unchanged sentence

We track turnover and employee engagement among other metrics, and conduct stay and exit interviews to ensure our talent strategy serves our goal of attracting, developing and retaining top talent to serve as our future leaders and stewards of our vision.

In addition, we conduct mid-year and annual performance reviews for all employees to ensure regular discussions around performance, progress towards goals and professional development.

In addition, we conduct

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mid-year and annual performance reviews for all employees to ensure regular discussions around performance, progress towards goals and professional development.

We offer targeted selection training for interviewers to ensure a consistent methodology applied in identifying and hiring the best candidates for open positions and offer management skills trainings in live and virtual settings, along with online courses available to all employees through our learning platform.

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We also offer our employees and their covered family members in-network coverage of each of EXPAREL, ZILRETTA and iovera° through our employer-sponsored health benefit plans.

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We have a formal Environmental Health and Safety Program.

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We are committed to evaluating our people processes to ensure we are attracting, developing, promoting and retaining diverse talent.

In 2018, we established P.O.W.E.R.

(Preparing Our Women for Excellence and Results), an employee resource group open to all Pacira colleagues, focused on promoting leadership values, fostering a community of support and the advancement of women through professional development and networking opportunities.

Our P.O.W.E.R.

( P reparing O ur W omen for E xcellence and R esults) organization is an employee resource group open to all Pacira colleagues, focused on promoting leadership values, fostering a community of support and the advancement of women through professional development and networking opportunities.

In 2020, we established a cross-functional diversity, equity and inclusion employee council to serve as an advisory board, comprised of employees who lead, advocate for, inform and communicate our corporate diversity, equity and inclusion strategic initiatives around four key areas:

leadership development, diversity recruiting, culture and communications.

As of December 31, 2024, we had 790 employees, of which 788 are full-time and two are part-time.

As of December 31, 2025, we had 829 employees, of which 825 were full-time and four were part-time.

All of our employees are based in the U.S.

except for seven employees based in the U.K.

except for 17 employees based in Germany, seven employees based in the U.K.

and two employees based in Belgium.

None of our employees are represented by a labor union, and we consider our current employee relations to be good.

2 unchanged sentences

We file reports and other information with the United States Securities and Exchange Commission, or SEC, as required by the Exchange Act, which are accessible on the SEC’s website at www.sec.gov.

We also make available free of charge through our corporate website our Annual Report, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements and any amendments to those reports filed or furnished pursuant to Sections 13(a) and 15(d) of the Exchange Act.

Pacira BioSciences, Inc.

| 2025 Annual Report on Form 10-K | 36

Sections 13(a) and 15(d) of the Exchange Act.

We make these reports available through our corporate website as soon as reasonably practicable after we electronically file such reports with, or furnish such reports to, the SEC.

1 unchanged sentence

The foregoing references to our corporate website are not intended to, nor shall they be deemed to, incorporate information on our corporate website into this Annual Report by reference, and the inclusion of our corporate website address in this Annual Report is an inactive textual reference only and is not intended to be an active link to our corporate website.

Pacira BioSciences, Inc.

| 2024 Annual Report on Form 10-K | Page 34

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.

What changed 10-K

Item 1. Business