PARSIPPANY, N.J., Feb. 3, 2011 /PRNewswire via COMTEX/ --
Pacira
Pharmaceuticals, Inc. (Nasdaq: PCRX), an emerging specialty
pharmaceutical company, today announced the pricing of its initial
public offering of 6,000,000 shares of its common stock at $7.00
per share, before underwriting discounts and commissions. All of the
common stock is being offered by Pacira. The shares are expected to
begin trading on the NASDAQ Global Market under the symbol "PCRX" on February 3, 2011.
In addition, Pacira has granted the underwriters a 30-day option to
purchase up to an additional 900,000 shares to cover over-allotments, if
any.
Barclays Capital Inc. and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Wedbush PacGrow Life Sciences and Brean Murray, Carret & Co. are acting as co-managers for the offering.
The offering of these securities will be made only by means of a
prospectus, copies of which may be obtained from Barclays Capital Inc.,
c/o Broadridge Financial Solutions, at 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 1-888-603-5847 or by emailing Barclaysprospectus@broadridge.com; or from Piper Jaffray & Co. at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, by calling 1-800-747-3924.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission.
About Pacira
Pacira Pharmaceuticals, Inc. is an emerging specialty pharmaceutical
company focused on the development, commercialization and manufacture of
novel pharmaceutical products, based on its proprietary DepoFoam(R)
drug delivery technology, for use in hospitals and ambulatory surgery
centers. The company's most advanced product candidate, EXPAREL(TM), a
bupivacaine-based product, has completed Phase 3 clinical development
for postoperative analgesia by infiltration. EXPAREL consists of
bupivacaine encapsulated in DepoFoam, which is designed to address the
limitations of widely used medications by enhancing their dosing and/or
administration profile. Additional information about Pacira is available
at www.pacira.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of, these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
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Contacts:
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James Scibetta,Chief Financial Officer, Pacira Pharmaceuticals, Inc.
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(973) 254-3570
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Jennifer Beugelmans, Pure Communications, Inc.
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(646) 596-7473
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SOURCE Pacira Pharmaceuticals, Inc.
www.pacira.com