Company: PCRX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050176
Chunk: 55

Company: Pacira BioSciences, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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$27,581 LIABILITIES ASSUMEDAccounts payable$1,037 $(39)$998 Accrued expenses91 191 282 Lease liabilities1,374 — 1,374 Deferred tax liability6,750 (2,664)4,086 Other liabilities49 — 49 Total liabilities9,301 (2,512)6,789 Total identifiable net assets acquired17,897 2,895 20,792 Goodwill 20,763 (2,664)18,099 Total fair value of the GQ Bio Acquisition$38,660 $231 $38,891 (a)  As previously reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025.(b)  Represents an adjustment to a deferred tax liability, unrecorded liabilities related to pre-acquisition expenses that were paid by the Company in 2025.The acquired identifiable in-process research and development, or IPR&D, assets were valued from a market participants’ perspective using a multi-period excess earnings methodology (income approach). The IPR&D asset relates to further developing PCRX-201 and the cost savings associated with milestone and royalty payments. The projected cash flows for this IPR&D asset were adjusted for the probability of successful development and commercialization, and were discounted at 20.0%.The excess of the purchase price over the fair value of identifiable net assets acquired represents goodwill. This goodwill is primarily attributable to the value in establishing a research and development engine focused on supporting products akin to PCRX-201, assembling a dedicated workforce within a niche industry, obtained preclinical assets, as well as the synergies of merging operations. The acquired goodwill and IPR&D intangible asset are currently not deductible for tax purposes. However, the Company is considering certain tax elections that would allow for the future deduction of the acquired goodwill and IPR&D intangible asset. During the nine months ended September 30, 2025, GQ Bio did not earn any revenue.

NOTE 4—REVENUE

Revenue from Contracts with CustomersThe Company’s net product sales consist of (i) EXPAREL in the U.S., the European Union, or E.U., and the U.K.; (ii) ZILRETTA in the U.S.; (iii) iovera° in the U.S., Canada, the E.U., and the U.K. and (iv) sales