Pacira reports Q2 2026 results, updates guidance after iovera° sale to Zimmer Biomet
Pacira closed its iovera° divestiture on July 31, advanced its PCRX-201 gene therapy program, and trimmed full-year revenue guidance to reflect the sale.
Pacira BioSciences reported second-quarter 2026 results on August 4, 2026, alongside several pipeline and business updates. The company completed the divestiture of its iovera° business to Zimmer Biomet Holdings, with total consideration of up to $140 million, including a $70 million upfront payment and up to $70 million in future revenue-based milestones through December 31, 2031.1 The two companies will continue to collaborate on the spasticity program, with Pacira eligible for added compensation if the registrational study succeeds and regulatory approval follows; the deal closed July 31, 2026, and Pacira received $73.6 million in cash after purchase price adjustments.1
On the pipeline, PCRX-201 (enekinragene inzadenovec), Pacira's investigational gene therapy for knee osteoarthritis, moved to a scalable commercial manufacturing process, and enrollment is now underway in Part B of the Phase 2 ASCEND study after Part A enrollment concluded in June, with topline data expected by the end of 2026.1 Separately, the company's Phase 1 study of PCRX-201 was accepted for publication in the Annals of the Rheumatic Diseases, titled "Safety, Biodistribution, and Exploratory Clinical Outcomes of a Novel Intraarticular IL-1Ra Gene Therapy (PCRX-201) in Moderate-to-Severe Knee Osteoarthritis: 2-Year Results of a Phase 1 Study."1
On coverage, UnitedHealthcare began providing separate reimbursement for EXPAREL across outpatient settings, including hospital outpatient departments and ambulatory surgery centers, allowing the drug to be reimbursed outside the surgical bundle for eligible members.1
Reflecting the iovera° divestiture, Pacira updated its full-year 2026 total revenue guidance to $735 million to $760 million, down from a prior range of $745 million to $770 million, and lowered non-GAAP SG&A guidance to $310 million to $330 million from $320 million to $340 million.1 The company reiterated EXPAREL net product sales guidance of $600 million to $620 million and non-GAAP R&D expense guidance of $105 million to $115 million.1 Pacira ended the quarter with $251.0 million in cash, cash equivalents and available-for-sale investments.1
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