Pacira BioSciences Appoints Shawn Cross as Chief Financial Officer
Pacira BioSciences, Inc. (Nasdaq: PCRX), renowned for its pioneering non-opioid pain treatments, is excited to announce the appointment of Shawn Cross as its new Chief Financial Officer. With a wealth of experience, Mr. Cross is set to enhance the company’s financial operations and strategic growth initiatives.
Shawn Cross: A Leader with Vision
In his new role, Shawn Cross will take charge of overseeing all financial aspects of Pacira BioSciences. His track record is impressive, showcasing over 25 years of experience as a biotechnology executive, investment banker, and board member. Frank D. Lee, CEO of Pacira, expressed his enthusiasm: “We are delighted to welcome Shawn. His leadership and guidance are pivotal as we pursue long-term growth while ensuring efficient resource allocation.”
Cross's Strong Background in Biotech Finance
Prior to joining Pacira, Mr. Cross served as the Chief Financial Officer at Applied Molecular Transport, Inc. Here, he was instrumental in leading the company through its initial public offering (IPO). His leadership eventually led him to roles as President and Chief Operating Officer, and he even took the helm as CEO during AMT’s merger with Cyclo Therapeutics, Inc. His extensive experience within the biotechnology field ensures that he brings a wealth of knowledge to Pacira.
Innovating Non-Opioid Pain Therapies
Pacira is dedicated to revolutionizing pain management with innovative, non-opioid therapies. Under the guidance of leaders like Shawn, the company is poised to continue its success with its commercial-stage products, including EXPAREL® and ZILRETTA®. These treatments are designed to provide effective pain relief alternatives, significantly impacting the lives of patients suffering from pain.
Financial Strength and Growth Prospects
Shawn Cross commented on the company’s financial stability, noting, “Pacira is on strong financial footing with a business generating robust cash flows from its market-leading products.” His insight into financial operations will be crucial as the company navigates its next phase of growth, building on its successes and exploring new opportunities.
Stock Awards and Incentives
To kickstart his role, the Compensation Committee of Pacira's Board has granted inducement awards to Mr. Cross, which includes stock options and restricted stock units. These awards aim to align his interests with the company’s long-term success and to motivate his contributions toward achieving financial and operational goals.
About Pacira BioSciences
Pacira BioSciences is committed to delivering cutting-edge, non-opioid pain therapies that transform patient care. Their flagship products—EXPAREL®, ZILRETTA®, and ioveraº®—are crafted to address various forms of pain, from postsurgical recovery to chronic osteoarthritis treatment. Additionally, the company is developingPCRX-201, a groundbreaking local gene therapy with the potential to alter the landscape of pain management.
Frequently Asked Questions
1. Who is the new Chief Financial Officer of Pacira BioSciences?
Shawn Cross has been appointed as the new Chief Financial Officer of Pacira BioSciences.
2. What experience does Shawn Cross bring to Pacira?
Shawn Cross brings over 25 years of experience in the biotechnology industry, holding various leadership roles in finance and operations.
3. What are the main products offered by Pacira BioSciences?
Pacira offers innovative non-opioid pain management solutions, including EXPAREL®, ZILRETTA®, and ioveraº®.
4. What financial initiatives are in place for Shawn Cross?
Shawn Cross has received inducement awards, including stock options and restricted stock units, to align his performance with Pacira's growth.
5. How does Pacira intend to innovate in the healthcare sector?
Pacira is committed to expanding its portfolio with the development of new therapies, like PCRX-201, aiming to enhance patient care while addressing pain without opioids.
