On September 13, 2022 Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its commitment to non-opioid pain management and regenerative health solutions, reported preliminary unaudited net product sales of $59.1 million for the month of August 2022 (Press release, Pacira Pharmaceuticals, SEP 13, 2022, View Source [SID1234619504]). The company’s net product sales include EXPAREL (bupivacaine liposome injectable suspension), ZILRETTA (triamcinolone acetonide extended-release injectable suspension), and the iovera° system. The company began recognizing sales of ZILRETTA in November 2021 after completing its acquisition of Flexion Therapeutics, Inc.

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"August sales were highlighted by year-over-year growth trends improving in the second half of the month and EXPAREL surpassing the 11 million patient mark," said Dave Stack, chairman and chief executive officer of Pacira BioSciences. "In addition to EXPAREL expansion across all target market segments, we continue to expect improving sales trends through the year for ZILRETTA and iovera° as we broaden education and awareness around these complementary and standalone non-opioid solutions for managing osteoarthritis pain."

August 2022 Preliminary Net Product Sales Highlights

•EXPAREL net product sales were $46.7 million, compared with $41.4 million for August 2021. The company also reports average daily growth rates for EXPAREL to account for differences in the number of selling days per reporting period. EXPAREL average daily sales for the month of August 2022 were 108 percent of August 2021. The number of EXPAREL selling days were 23 in August 2022 and 22 in August 2021.
•ZILRETTA net product sales were $9.7 million for August 2022. ZILRETTA sales in August 2021 occurred prior to the completion of the company’s acquisition of Flexion in November 2021.
•iovera° net product sales were $1.5 million for August 2022, compared with $0.9 million for August 2021.
•Sales of bupivacaine liposome injectable suspension to a third-party licensee for use in veterinary practice were $1.2 million in August 2022.

Since early 2020, the company’s revenues have been impacted by COVID-19 and pandemic-related challenges that included the significant postponement or suspension in the scheduling of elective

surgical procedures due to public health guidance and government directives. While the degree of impact has diminished during the course of the pandemic due to the introduction of vaccines and the lessening of elective surgery restrictions, certain pandemic-related operational challenges persist. It remains unclear how long it will take the elective surgery market to normalize or if restrictions on elective procedures will recur due to future COVID-19 variants or otherwise.

The company is not providing 2022 revenue or gross margin guidance at this time given the continued uncertainty around labor shortages, COVID-19, and the pace of recovery for the elective surgery market. To provide greater transparency, the company is reporting monthly intra-quarter unaudited net product sales for EXPAREL, ZILRETTA, and iovera° until it has gained enough visibility around the impacts of COVID-19. The company is also providing weekly EXPAREL utilization and elective surgery data within its investor presentation, which is accessible at investor.pacira.com. Pacira completed its acquisition of Flexion Therapeutics on November 19, 2021, which added ZILRETTA (triamcinolone acetonide extended-release injectable suspension) to its commercial offering.

The financial information included in this press release is preliminary, unaudited, and subject to adjustment. It does not present all information necessary for an understanding of the company’s financial results for the third quarter or full year 2022.