Director Nominations at Pacira BioSciences: Key Updates

Director Nominations Update for Pacira BioSciences

Pacira BioSciences, Inc. (NASDAQ: PCRX), recognized for its commitment to innovative, non-opioid pain management therapies, has officially acknowledged the nominations of three director candidates from DOMA Perpetual Capital Management LLC. This nomination aims to enhance the company’s governance and strategic direction at the upcoming Board election.

Response from Pacira BioSciences

The company’s Board and management have committed to evaluating these nominations carefully, emphasizing a proactive approach to increasing shareholder value. Pacira's statement illustrates its strategic focus through its recently defined 5x30 plan, which aims to drive the company’s growth and competitive edge.

The Nominating, Governance, and Sustainability Committee will thoroughly assess DOMA's proposed candidates, aligning with their ongoing evaluation process for all director candidates. The company is dedicated to transparency, with a commitment to present its recommendations in the definitive proxy statement, which will soon be available to stockholders.

Importance of Shareholder Engagement

In response to the nominations, Pacira reiterates that no immediate action is required from shareholders. This reinforces the importance of keeping stakeholders informed while pursuing strategic growth cues. Investors will receive detailed information about the director nominees ahead of the Annual Meeting, ensuring they can make informed decisions about the future of the Board.

Current Market Position and Financial Advisors

As Pacira prepares for this critical decision-making period, it continues to strengthen its market position as a leader in non-opioid pain therapies. To support its strategic initiatives, Pacira has engaged Evercore as a financial advisor and the law firm Wachtell, Lipton, Rosen & Katz for legal counsel, underscoring the company’s commitment to best practices in corporate governance.

About Pacira BioSciences

Pacira BioSciences is at the forefront of innovation in the field of pain management. The company offers several commercial-stage, non-opioid therapies including EXPAREL^®, an injectable suspension designed to manage postsurgical pain; ZILRETTA^®, which targets osteoarthritis knee pain with an extended-release formula; and iovera^®, a groundbreaking device that leverages cold temperature for effective pain control without drugs. The company is proactive in its research, currently advancing the novel PCRX-201 gene therapy, demonstrating potential for larger disease treatment possibilities.

Looking Ahead: Strategic Goals

Pacira plans to incorporate feedback from the nominations and its shareholder base into its overarching strategy to enhance business growth and market opportunities. The strategic focus on expanding its product line and market reach will also be facilitated through the 5x30 plan, which is designed to streamline operations and elevate shareholder returns.

Frequently Asked Questions

What are the recent nominations at Pacira BioSciences?

DOMA Perpetual has nominated three candidates for the Pacira Board of Directors, aiming to enhance governance.

What is Pacira's response to these nominations?

Pacira is evaluating the nominees thoroughly and emphasizes its commitment to shareholder value with its ongoing portfolio review.

When is the annual meeting of stockholders?

The exact date for the upcoming annual meeting has not been announced yet, but shareholders will be notified in due time.

Who are the financial advisors assisting Pacira?

Evercore is serving as the financial advisor, while Wachtell, Lipton, Rosen & Katz provides legal advisory services.

What is the focus of Pacira's 5x30 plan?

The 5x30 plan aims to streamline operations and enhance shareholder value through efficient resource allocation and strategic initiatives.

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