Company: PCRX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001396814-25-000102
Chunk: 151

Company: Pacira BioSciences, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 151
---
900 — 900 Prepaid expenses and other assets120 383 503 Fixed assets 364 — 364 Right-of-use assets1,374 — 1,374 In-process research and development (IPR&D) 22,500 — 22,500 Other noncurrent assets56 — 56 Total assets$27,198 $383 $27,581 LIABILITIES ASSUMEDAccounts payable$1,037 $(39)$998 Accrued expenses91 191 282 Lease liabilities1,374 — 1,374 Deferred tax liability6,750 (2,664)4,086 Other liabilities49 — 49 Total liabilities9,301 (2,512)6,789 Total identifiable net assets acquired17,897 2,895 20,792 Goodwill 20,763 (2,664)18,099 Total fair value of the GQ Bio Acquisition$38,660 $231 $38,891 (a)  As previously reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025.(b)  Represents an adjustment to a deferred tax liability, unrecorded liabilities related to pre-acquisition expenses that were paid by the Company in 2025.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 six months ended June 30, 2025, GQ Bio did not earn any revenue.

NOTE 4—REVENUE

Revenue from Contracts with