Company: PCRX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001396814-25-000061
Chunk: 159

Company: Pacira BioSciences, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 159
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 plan included: (i) reshaping the Company’s executive team, (ii) reallocating efforts and resources from the Company’s ex-U.S. and certain early-stage development programs to its commercial portfolio in the U.S. market and (iii) reprioritizing investments to focus on commercial readiness for the implementation of separate Medicare reimbursement for EXPAREL at average sales price plus 6 percent in outpatient settings and iovera° up to an additional $255.85 when providers administer iovera° in ambulatory surgical centers and outpatient settings beginning in January 2025 as part of the Non-Opioids Prevent Addiction In the Nation (“NOPAIN”) Act and broader commercial initiatives in key areas, such as strategic national accounts, marketing and market access and reimbursement. The Company recognized $5.5 million of restructuring charges for the three months ended March 31, 2024 related to employee termination benefits, such as the acceleration of share-based compensation, severance, and, to a lesser extent, other employment-related termination costs, as well as contract termination costs. 

Pacira BioSciences, Inc.  |  Q1 2025 Form 10-Q  |  Page 29

The Company’s restructuring charges, including the beginning and ending liability balances, are summarized below (in thousands):Employee Termination Benefits (1)Contract Termination CostsTotalBalance at December 31, 2023$— $— $—    Charges incurred3,220 1,709 4,929    Cash payments made / settled(1,985)(20)(2,005)Balance at December 31, 20241,235 1,689 2,924    Cash payments made / settled(823)(1,689)(2,512)Balance at March 31, 2025$412 $— $412 (1) During the year ended December 31, 2024, there was $3.6 million of employee termination benefits related to share-based compensation excluded from the table above as they are non-cash and recorded against additional paid-in capital.Acquisition-Related ExpensesThe Company recognized acquisition-related expenses of $1.5 million during the three months ended March 31, 2025. These costs primarily relate to legal fees and third-party services related to the GQ Bio Acquisition. See Note 3, GQ Bio Therapeutics Acquisition, for more information.The Company recognized acquisition-related expenses of $0.2 million