Company: PCRX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050176
Chunk: 72

Company: Pacira BioSciences, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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 amount of Flexion 2024 Notes that were validly tendered (and not validly withdrawn). No Flexion 2024 Notes were converted in connection with the Notice. The remaining principal of $8.6 million was repaid at maturity on May 1, 2024. Interest ExpenseThe following table sets forth the total interest expense recognized in the periods presented (dollar amounts in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Contractual interest expense$3,597 $4,296 $11,282 $11,404 Amortization of debt issuance costs626 840 2,320 2,284 Amortization of debt discount56 23 101 70 Capitalized interest (Note 6)— (470)(149)(1,869)        Total$4,279 $4,689 $13,554 $11,889 Effective interest rate on total debt3.57 %3.03 %3.24 %3.00 %

Pacira BioSciences, Inc.  |  Q3 2025 Form 10-Q  |  21

NOTE 10—FINANCIAL INSTRUMENTS

Fair Value MeasurementsFair value is defined as the price that would be received to sell an asset or be paid to transfer a liability in the principal or most advantageous market in an orderly transaction. To increase consistency and comparability in fair value measurements, the FASB established a three-level hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of fair value measurements are:•Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.•Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data.•Level 3: Unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.The carrying value of financial instruments including cash and cash equivalents, accounts receivable and accounts payable approximate their respective fair values due to the short-term nature of these items. The fair value of the Company’s convertible senior notes and its revolving line of credit are calculated utilizing market quotations from an over-the-counter