Pacira lowers FY23 EXPAREL net product sales view $550M-$560M from $570M-$580M

Pacira is revising the following full-year financial guidance: ZILRETTA net product sales of $110 million to $115 million versus the company’s previously guided range of $115 million to $125 million; Non-GAAP gross margin of 73% to 74% versus the company’s previously guided range of 76% to 78%; and Stock-based compensation of $46 million to $49 million versus the company’s previously guided range of $51 million to $54 million. Pacira is reiterating the following full-year financial guidance: iovera degrees net product sales of $17 million to $20 million; Non-GAAP R&D expense of $70 million to $80 million; and Non-GAAP SG&A expense of $220 million to $230 million.