Company: PCRX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001396814-25-000102
Chunk: 65

Company: Pacira BioSciences, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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— $98,256 $—    2.125% convertible senior notes due 2029 (1)$280,267 $— $281,419 $—    0.750% convertible senior notes due 2025 (2)$202,397 $— $201,113 $— (1) The closing price of the Company’s common stock as reported on the Nasdaq Global Select Market was $23.90 per share on June 30, 2025, compared to a conversion price of $39.56 per share. At June 30, 2025, as the conversion price was above the stock price, the requirements for conversion have not been met. (2) The 0.750% Convertible senior notes matured and were repaid on August 1, 2025.Financial Assets and Liabilities Measured at Fair Value on a Recurring BasisEquity and Convertible Note InvestmentsThe Company holds strategic investments in clinical and preclinical stage privately-held biotechnology companies in the form of equity and convertible note investments as follows (in thousands):Equity InvestmentsConvertible Notes ReceivableTotalBalance at December 31, 2023$15,877 $12,134 $28,011 Foreign currency adjustments— (236)(236)Balance at December 31, 202415,877 11,898 27,775 Purchases— 1,250 1,250 Impairment(4,000)(7,000)(11,000)Realized gain of prior investments (1)4,227 1,674 5,901 Settled investments (1)(8,315)(5,322)(13,637)Foreign currency adjustments(39)— (39)Balance at June 30, 2025$7,750 $2,500 $10,250 (1) In conjunction with the GQ Bio Acquisition, the settlement of the Company’s prior equity investment and notes receivable were part of the fair value of consideration exchanged. Upon acquiring the remaining 81% ownership interest in GQ Bio, the Company remeasured its previously held equity interest to its acquisition-date fair value. The $4.2 million gain resulting from the equity investment was recognized as other, net within the condensed consolidated statement of operations. In settling the notes receivable, the Company recognized $1.7 million in interest income. See Note 3,