PARSIPPANY, N.J. -- (BUSINESS WIRE) -- Pacira Pharmaceuticals, Inc. (NASDAQ: PCRX) today announced that on April 15, 2014, it approved the grant of stock options to 17 new employees to purchase an aggregate of 81,000 shares of common stock. The stock options were granted as inducements material to the new employees entering into employment with Pacira, as permitted under NASDAQ Listing Rule 5635(c)(4).
Pacira granted to 17 new non-executive employees an option to purchase shares of its common stock with an exercise price equal to $64.21, the closing price per share of Pacira common stock as reported by NASDAQ on April 15, 2014, the date of the grant. Each of the options has a ten year term and, subject to continued employment with Pacira, will vest with respect to one-quarter of the underlying shares on the first anniversary of the employee’s commencement of employment with Pacira and then in successive equal monthly installments over the thirty-six (36) months thereafter.
Pacira Pharmaceuticals, Inc. (NASDAQ: PCRX) is a specialty pharmaceutical company focused on the clinical and commercial development of new products that meet the needs of acute care practitioners and their patients. The company’s current emphasis is the development of non-opioid products for postsurgical pain control, and its lead product, EXPAREL® (bupivacaine liposome injectable suspension), was commercially launched in the United States in April 2012. EXPAREL and two other products have utilized the Pacira proprietary product delivery technology DepoFoam®, a unique platform that encapsulates drugs without altering their molecular structure and then releases them over a desired period of time. Additional information about Pacira is available at www.pacira.com.