Company: PCRX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001396814-25-000061
Chunk: 74

Company: Pacira BioSciences, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 74
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 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 during the three months ended March 31, 2024. These costs primarily related to vacant and underutilized Flexion leases that were assumed from the Flexion Acquisition.Legal SettlementThe Company recognized $7.0 million of costs during the three months ended March 31, 2025 related to the legal settlement of the patent infringement suits against eVenus, Jiangsu Hengrui and Fresenius (each as defined below). For more information, see Note 16, Commitments and Contingencies.

NOTE 16—COMMITMENTS AND CONTINGENCIES

Legal ProceedingsFrom time to time, the Company has been and may again become involved in legal proceedings arising in the ordinary course of its business, including those related to its patents and intellectual property, product liability and government investigations. Except as described below, the Company is not presently a party to any legal proceedings that it believes to be material, and is not aware of any pending or threatened litigation against the Company which it believes could have a material adverse effect on its business, operating results, financial condition or cash flows. The Company is not in a position to assess the likelihood of any potential losses or adverse effect on its financial condition