Pacira Pharmaceuticals – Biotech IPOs of 2011

Posted under Biotech IPO, Blog, Companies, Diagnostics, Funding, Medical Devices, Medical Supply, Pharmaceuticals, Startups, Universities, Videos by Maureen Martino

Company: Pacira Pharmaceuticals ($PCRX)
Based: San Diego
Raised: $42M (6M shares at $7)
Target range: $14 to $16
Current price: $7.99

San Diego-based pain management company Pacira Pharmaceuticals had already filed an NDA for its drug Exparel when it debuted in February at a price of $7 per share. That was significantly lower than the company's sweet spot of $14 to $16, but the funding carried Pacira until it gained FDA approval of its drug in October.

Exparel is a non-opioid drug that relieves pain for up to three days after surgery. The treatment combines an existing drug, bupivacaine, which is injected at the site of pain and lasts only about 7 hours, with drug delivery technology that extends the treatment's pain-killing properties for up to three days. Pacira's DepoFoam technology is also licensed for use in two other marketed products, DepoCyt and DepoDur.

Pacira's stock doubled on new of the FDA approval but has since dropped to pre-approval levels.