Pacira BioSciences has reported preliminary fourth-quarter net product sales for its flagship product, Exparel, that surpassed analyst expectations, driving investor enthusiasm. The company announced Exparel sales of $147.7 million for the quarter, reflecting a robust performance attributed to increased volume and favorable pricing dynamics. This positive sales momentum is part of Pacira's broader strategic plan, dubbed '5x30', which aims to achieve significant growth milestones by 2030, including double-digit revenue growth and expanding its clinical pipeline.
The company's preliminary unaudited revenue for 2024 reached $701.0 million, up from $675.0 million in 2023, with Exparel contributing $549.0 million to this total. The growth in Exparel sales was partially offset by shifts in vial mix and discounts from group purchasing organization partnerships, but the overall increase in sales volume and pricing has been a key driver of the positive financial outlook.
Pacira BioSciences (PCRX) shares have surged 12.68% to $20.94 as of 1:52 pm on January 10th, up from its previous close of $18.58.