Company: PCRX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001396814-25-000102
Chunk: 113

Company: Pacira BioSciences, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 113
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 a realized gain associated with a previously acquired equity investment in GQ Bio that increased in fair value resulting from the GQ Bio Acquisition. For more information, see Note 10, Financial Instruments, and Note 3, GQ Bio Therapeutics Acquisition, to our condensed consolidated financial statements included herein.

Income Tax Expense

The following table provides information regarding our income tax expense during the periods indicated, including percent changes (dollar amounts in thousands):

Three Months EndedJune 30,% Increase / (Decrease)Six Months EndedJune 30,% Increase / (Decrease)2025202420252024 Income tax expense$2,920$17,698(84)%$6,814$22,359(70)% Effective tax rate (152)%48 %101 %45 %

The effective tax rates were (152)% and 101% for the three and six months ended June 30, 2025, respectively. The effective tax rates were 48% and 45% for the three and six months ended June 30, 2024, respectively. Income tax expense represents the estimated annual effective tax rate applied to the year-to-date operating results adjusted for certain discrete tax items. 

The effective tax rate for the three and six months ended June 30, 2025 is primarily impacted by costs related to non-deductible stock-based compensation, non-deductible executive compensation and a non-U.S. valuation allowance. The effective tax rates for the three and six months ended June 30, 2024 include costs related to non-deductible stock-based 

Pacira BioSciences, Inc.  |  Q2 2025 Form 10-Q  |  Page 51

compensation, primarily related to expired stock options, and non-deductible executive compensation, partially offset by tax credits. 

Liquidity and Capital Resources

Since our inception in 2006, we have devoted most of our cash resources to manufacturing, R&D and selling, general and administrative activities related to the development and commercialization of EXPAREL. In addition, we acquired ZILRETTA as part of the Flexion Acquisition in November 2021 and iovera° as part of the MyoScience Acquisition in April 2019. We are primarily dependent on the commercial success of EXPAREL and ZILRETTA. We have financed our operations primarily with the proceeds from the sale of convertible senior notes and other debt, common stock, product sales and collaborative licensing