Pacira Pharma beats by $0.08, reports revs in-line:
- Reports Q4 (Dec) earnings of $0.09 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.01; revenues rose 5.2% year/year to $72.9 mln vs the $73.07 mln Capital IQ Consensus.
- Exparel net product sales were $71.4 million in the fourth quarter of 2016, a 6% increase over the $67.2 million reported for the fourth quarter of 2015.
- FY17 guidance:
- EXPAREL net product sales of $290 million to $310 million.
- Non-GAAP gross margins of approximately 70%.
- Non-GAAP research and development expense of $50 million to $60 million.
Pacira Pharma reports 'positive' topline results for phase 4 study of Exparel in total knee arthroplasty; study met co-primary endpoints :
- Pacira announced that its Phase 4 study of Exparel in patients undergoing TKA has met its co-primary endpoints for postsurgical pain and opioid reduction.
- The co-primary efficacy endpoints were the area under the curve of visual analog scale pain intensity scores from 12 to 48 hours after surgery and total opioid consumption from zero to 48 hours after surgery.
- The Exparel group achieved a statistically significant reduction in AUC VAS scores compared to the group who did not receive Exparel. In addition, patients who received Exparel consumed significantly fewer opioids than patients who did not receive EXPAREL during the 48 hours that followed surgery.
- The co plans to report the statistical results for key secondary endpoints from this study in the coming weeks. Full results will be submitted for publication in a peer-reviewed medical journal.
- "We have multiple, major milestones on track for 2017, including the positive topline results reported today from our Phase 4 study in TKA. Our collaboration with DePuy Synthes is off to a strong start and will allow us to maximize these important data and broaden the use of EXPAREL as an opioid-sparing solution for prolonged postsurgical pain relief."
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