Company: PCRX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001396814-25-000061
Chunk: 45

Company: Pacira BioSciences, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 45
---
angible assets, tangible assets, liabilities and tax analyses, and anticipates finalizing the purchase price allocation as the information necessary to complete the analysis is obtained, but no later than one year after the acquisition date. 

Pacira BioSciences, Inc.  |  Q1 2025 Form 10-Q  |  Page 11

The following tables set forth the preliminary allocation of the GQ Bio Acquisition purchase price to the estimated fair value of the net assets acquired at the acquisition date (in thousands):Amounts Recognized at the Acquisition Date ASSETS ACQUIREDCash and cash equivalents$1,884 Accounts receivable900 Prepaid expenses and other assets120 Fixed assets 364 Right-of-use assets1,374 In-process research and development (IPR&D) 22,500 Other noncurrent assets56 Total assets$27,198 LIABILITIES ASSUMEDAccounts payable$1,037 Accrued expenses91 Lease liabilities1,374 Deferred tax liability6,750 Other liabilities49 Total liabilities9,301 Total identifiable net assets acquired17,897 Goodwill 20,763 Total fair value of the GQ Bio Acquisition$38,660 The acquired identifiable IPR&D assets were valued from a market participants’ perspective using a multi-period excess earnings methodology (income approach). The IPR&D asset relates to further developing PCRX-201 and the cost savings associated with milestone and royalty payments. The projected cash flows for this IPR&D asset were adjusted for the probability of successful development and commercialization, and were discounted at 20.0%.The excess of the purchase price over the fair value of identifiable net assets acquired represents goodwill. This goodwill is primarily attributable to the value in establishing a research and development engine focused on supporting products akin to PCRX-201, assembling a dedicated workforce within a niche industry, obtained preclinical assets, as well as the synergies of merging operations. The acquired goodwill and IPR&D intangible asset are currently not deductible for tax purposes. However, the Company is considering certain tax elections that would allow for the future deduction of the acquired goodwill and IPR&D intangible asset. 

During the three months ended March 31, 2025, GQ Bio did not earn any revenue and the operating loss attributable to GQ Bio was considered nominal. 

NOTE 4—REVENUE

Revenue from Contracts with CustomersThe Company’s net product sales consist of (i) EXPAREL