Transaction details
Jonathan Slonin, the Chief Medical Officer at Pacira BioSciences (NASDAQ: PCRX), sold 3,261 shares of the company's common stock on March 17, 2026. The shares moved at a price of $22.82 each, producing a total transaction value of $74,416. At the time of reporting, Pacira's stock is trading at $22.57 and the company's market capitalization stands at $917.5 million.
Post-sale holdings and trading plan
Following this disposition, Slonin retains direct ownership of 223,640.175 shares of Pacira BioSciences. The sale was carried out pursuant to a pre-arranged Rule 10b5-1 trading plan that Slonin adopted on August 12, 2025.
Quarterly results and market reaction
Pacira reported fourth-quarter 2025 financial results that fell short of expectations on both major measures. The company posted diluted earnings per share of $0.57, below the consensus estimate of $0.90 - a shortfall of 36.67%. Reported revenue for the quarter was $196.9 million, missing the forecast of $200.54 million by 1.82%.
Activist investor seeks board changes
DOMA Perpetual Capital Management LLC, which holds around 7.3% of Pacira's outstanding common stock, has nominated three candidates for the company's board of directors. DOMA's slate is part of a broader push that includes calls for the removal of CEO Frank Lee, citing concerns over the company’s financial performance.
Pacira confirmed receipt of the nominations and said it has engaged with DOMA multiple times since Lee became CEO. However, the company stated that DOMA has not provided strategic proposals that go beyond the company's current evaluations.
Context
The insider sale, the quarterly miss on EPS and revenue, and the nomination of board candidates by a significant shareholder together present a series of developments investors and stakeholders will monitor closely as Pacira navigates its operational and governance challenges.