Pacira Pharmaceuticals (NASDAQ:PCRX) is a pharmaceutical company which is developing a anesthetic/analgesic drug and drug delivery system for postsurgical pain. Pacira's drug would provide longer lasting pain relief to patients after their surgery.Clinical studies show that the drug provides analgesia up to 72 hours after the surgery. This compares with 7 hours or less for the standard analgesic. Pacira filed for a New Drug Application (NDA) in September 2010, and is waiting approval. The company has filed to use their drug, known as EXPAREL, in surgical wounds, but plans to later gain FDA approval for usage more more complex processes.
The current usage of bupivacaine for pain relief last only up to 7 hours, and approximately 50% of surgical patients report that the pain relief was not adequate. In order to provide relief, patients frequently are given opioids of which they control the deployment. These opioids can have severe side effects and add cost and complications to the postsurgery. Non-steroidal anti-inflammatory drugs are given to decrease the reliance of opioids, but they can increase the risk of bleeding and gastrointestinal complications. Pacira expects that EXAPAREL could decrease the consumption of opioids, lower cots, and improve pain management after the surgery. 
The company's initial public offering of stock on the NASDAQ occurred on February 2, 2011. The company offered 6M shares each for $7. the company had originally planned to sell 4.25M shares within the range of $14-$16. However, the company increased the deal size and decreased the share price. The original deal would have been worth $63.75M at the center of the range, but the offering ended up being worth $42M due to the revision. The lead underwriters of the deal were Barclays (BCS) and Piper Jaffray Companies (PJC).
In 2009, the company's total revenue for the full year was $15M. This was an approximately 7% increase over the 2008 figure. FOr the first 9 months of 2010, the company reproted a total revenue of $12M. In 2009, the company reproted a net loss of $32M. For the first 9 months of 2010, the Pacira's net loss was $20M. These net losses were largely due to high Research & Development expenses.