Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) today announced that it is offering $100 million of its common stock in a proposed underwritten public offering. In addition, Pacira intends to grant the underwriters a 30-day option to purchase up to $15 million of additional shares of common stock. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed. - updated 4/9 - Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) today announced the pricing of its previously announced public offering of 1,600,000 shares of its common stock at a public offering price of $64.00 per share. After deducting underwriting discounts and commissions and estimated offering expenses, Pacira will receive net proceeds of approximately $96.0 million in the offering. In addition, Pacira has granted the underwriters a 30-day option to purchase up to 240,000 additional shares of common stock. The offering is expected to close on or about April 14, 2014, subject to customary closing conditions.
Pacira Pharmaceuticals is a holding company. Through its subsidiaries, Co. is engaged in the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology. Co.'s main product, EXPAREL, is marketed for the indication of postsurgical analgesia by infiltration, and is also in Phase 2 clinical trial for postsurgical analgesia-nerve block. Co.'s other products include: bupivacaine liposome injectable suspension for veterinary postsurgical analgesia; and DepoCyt(e), which is a sustained-release liposomal formulation of the chemotherapeutic agent cytarabine utilizing DepoFoam technology for the treatment of lymphomatous meningitis.
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