Pacira Pharmaceuticals, Inc. Announces Pricing of Its Initial Public Offering
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™, 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 http://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.