Company: PCRX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050176
Chunk: 87

Company: Pacira BioSciences, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 87
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3,728    Cash payments made / settled(2,772)Balance at September 30, 2025$956 2024 Restructuring ChargesIn February 2024, the Company initiated a restructuring plan designed to ensure it is well positioned for long-term growth. The restructuring plan included: (i) reshaping the executive team, (ii) reallocating efforts and resources from its ex-U.S. and certain early-stage development programs to its U.S. commercial portfolio in the U.S. market and (iii) reprioritizing investments to enhance key commercial capabilities and expand EXPAREL utilization. The Company recognized $1.2 million and $7.7 million of restructuring charges for the three and nine months ended September 30, 2024, respectively, related to employee termination benefits, such as the acceleration of share-based compensation, severance, and, to a lesser extent, other employment-related termination costs, as well as contract termination costs.The Company’s 2024 restructuring charges, including the beginning and ending liability balances, are summarized below (in thousands): Employee Termination Benefits (1)Contract Termination CostsTotalBalance at December 31, 2023$— $— $—    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(1,225)(1,689)(2,914)Balance at September 30, 2025$10 $— $10 (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 an acquisition-related credit of $0.3 million and costs of $2.2 million during the three and nine months ended September 30, 2025, respectively. These costs primarily related to third-party services and legal fees associated with the GQ Bio Acquisition. See Note 3, GQ Bio Therapeutics Acquisition, for more information.The Company recognized acquisition-related expenses of $0.3 million and $0.7 million during the three and nine months ended September 30, 2024, respectively. These costs primarily related to