Company: PCRX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001396814-25-000041
Chunk: 58

Company: Pacira BioSciences, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 58
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)Fair Value(Level 2)Current:   Asset-backed securities$9,539 $1 $— $— $9,540    Commercial paper77,941 103 — — 78,044 U.S. federal agency bonds22,849 — (29)— 22,820 U.S. government bonds14,899 — (20)14,879 —      Subtotal125,228 104 (49)14,879 110,404 Noncurrent:Asset-backed securities2,403 7 — — 2,410      Subtotal2,403 7 — — 2,410      Total$127,631 $111 $(49)$14,879 $112,814 At December 31, 2024, there were no investments available for sale that were materially less than their amortized cost.The Company elects to recognize its interest receivable separate from its available-for-sale investments. At December 31, 2024 and 2023, the interest receivable from its available-for-sale investments recognized in prepaid expenses and other current assets was $0.5 million and $0.4 million, respectively.Credit RiskFinancial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term available-for-sale investments and accounts receivable. The Company maintains its cash and cash equivalents with high-credit quality financial institutions. Such amounts may exceed federally-insured limits.As of December 31, 2024, three wholesalers each accounted for over 10% of the Company’s accounts receivable, at 34%, 18% and 16%. As of December 31, 2023, three wholesalers each accounted for over 10% of the Company’s accounts receivable, at 37%, 19% and 16%. For additional information regarding the Company’s wholesalers, see Note 2, Summary of Significant Accounting Policies. EXPAREL and ZILRETTA revenues are primarily derived from major wholesalers and specialty distributors that generally have significant cash resources. The Company performs ongoing credit evaluations of its customers as warranted and generally does not require collateral. Allowances for credit losses on the Company’s accounts receivable are maintained based on historical payment patterns, current and estimated future economic conditions, aging of 

Pacira BioSciences, Inc.  |  2024 Annual Report on Form