Pacira BioSciences, Inc. (NASDAQ:PCRX) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET

Company Participants

Susan Mesco - Head of Investor Relations

Dave Stack - Chairman & Chief Executive Officer

Charlie Reinhart - Chief Financial Officer

Conference Call Participants

Oren Livnat - H.C. Wainwright

Operator

Good day, and thank you for standing by. Welcome to the Q3 2023 Pacira BioSciences Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand over the conference to your first speaker today, Susan Mesco, Head of Investor Relations. Please go ahead.

Susan Mesco

Thank you, Julie, and good morning, everyone. Welcome to today's conference call to discuss our third quarter 2023 financial results. Joining me are Dave Stack, Chairman and Chief Executive Officer; and Charlie Reinhart, Chief Financial Officer. Ron Ellis, Chief Strategy Officer, is also here for today's question-and-answer session.

Before we begin, let me remind you that this call will include forward-looking statements based on current expectations. Such statements represent our judgment as of today and may involve risks and uncertainties. For information concerning risk factors that could affect the company, please refer to the company's filings with the SEC, which are available from the SEC or our website.

With that, I will now turn the call over to Dave Stack.

Dave Stack

Thank you, Susan. Good morning, everyone, and thank you for joining today's call. 2023 has been a year focused on execution amidst both opportunities and challenges. While we continue to be encouraged by improving trends and near-term opportunities, today, we are adjusting our full year EXPAREL sales guidance to reflect an updated view of the remainder of the year. All of the financial guidance remains intact.

We established guidance based on historical data alongside current and projected market conditions. We are now forecasting full year EXPAREL sales to be $535 million to $540 million. While we are disappointed to adjust EXPAREL guidance for the year and in no way impacts our confidence and the significant potential we have in front of us.

We remain strong -- we've maintained strong conviction in the substantial and growing untapped prospects within the Pacira commercial portfolio, and we are laying the groundwork to unlock its full value. We have built an attractive patient-focused business, while maintaining financial discipline, enabling us to manage effectively in all environments.