Pacira Reports Wider Loss - Analyst Blog
2013年5月10日 - 5:54PM
Zacks
Pacira Pharmaceuticals,
Inc. (PCRX) reported first quarter 2013 net loss per share
of 60 cents, wider than the Zacks Consensus Estimate of a loss of
49 cents and the year-ago loss of 47 cents.
First quarter revenues rose 48.5%
year over year to $11.6 million, below the Zacks Consensus Estimate
of $13 million.
Net revenues included product
revenues, collaborative licensing and development revenue and
royalty revenues. Net Exparel revenues were $10.4 million. Exparel,
indicated for administration into the surgical site to produce
postsurgical analgesia, was launched in Apr 2012. In the first year
of launch, it generated revenues of $25.1 million.
At the end of the reported quarter,
1,065 distinct customers ordered Exparel, an increase of 30%
sequentially. Pacira reported an average of 22 new customers per
week as of Mar 31, 2013 since launch.
Major hospital system wins, rapid
adoption in the lucrative orthopedic market, increased formulary
access and adoption by the Department of Defense, the removal of
formulary restrictions and improved physician access should drive
Exparel sales.
Pacira remains on track with its
plans to expand manufacturing facility and anticipates receiving
FDA approval for the newly installed manufacturing facility, Suite
C in early 2014.
Research and development expenses
soared 356.3% year over year to $5.9 million, mainly due to costs
associated with the development of Exparel as a femoral nerve block
for total knee arthroplasty surgery and intercostal nerve block for
thoracotomy. Selling, general and administrative expenses increased
16% year over year to $12.9 million, primarily driven by
commercialization efforts for Exparel.
Pacira currently carries a Zacks
Rank #4 (Sell). Currently, companies like Lannett Company,
Inc. (LCI), Santarus, Inc. (SNTS) and
Catalyst Pharmaceutical Partners Inc.
(CPRX) look more attractive with a Zacks
Rank #1 (Strong Buy).
CATALYST PHARMA (CPRX): Free Stock Analysis Report
LANNETT INC (LCI): Free Stock Analysis Report
PACIRA PHARMACT (PCRX): Free Stock Analysis Report
SANTARUS INC (SNTS): Free Stock Analysis Report
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