Leading Independent Proxy Advisory Firm Glass Lewis Recommends Stockholders Vote "FOR" All of Pacira's Director Nominees

BRISBANE, Calif., May 28, 2026 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX) (the “Company” or “Pacira”), the industry leader in its commitment to deliver innovative, non-opioid pain therapies to transform the lives of patients, today announced that leading independent proxy advisory firm Glass Lewis & Co., LLC (“Glass Lewis”) has recommended that Pacira stockholders vote “FOR” each of Pacira’s three director nominees – Christopher Christie, Samit Hirawat, MD and Thomas Wiggans – and “AGAINST” all three of DOMA Perpetual Capital Management LLC’s (“DOMA Perpetual” or “DOMA”)¹ nominees on the BLUE proxy card ahead of the Company’s 2026 Annual Meeting of Stockholders (the “Annual Meeting”) on June 9, 2026.

In its report, Glass Lewis concluded that Pacira has an actionable plan designed to deliver substantial stockholder value by 2030 and has nominated three highly qualified directors to help oversee its strategy. Glass Lewis noted Pacira’s one-year total stockholder return of 37% for calendar year 2025, as well as cumulative total stockholder return of 23.8%² since launching the 5x30 strategy, both of which reflect the efficacy of the steps Pacira’s board and executive leadership team are taking to position the Company for long term growth and value creation.

Glass Lewis also noted the following in its report:³

Regarding Pacira’s Performance and 5x30 Strategy:

• “[I]n aggregate, the Company's adoption of the 5x30 Plan has correlated with competitive returns over the relatively brief period since announcement, narrowing Pacira's spread against peers and prospectively reflecting improved confidence in the Company's strategic direction under CEO Frank Lee.”
• “Moreover, Pacira's new pipeline products, namely PCRX-201 and PCRX-2002, are Phase 2 and are expected to deliver ‘topline accretion ... beyond 2030’. In the simplest terms, the top-line growth story underpinning 5x30 is still very much in progress, and the board offers sufficiently persuasive cause to conclude a wait-and-see tack is appropriate.”
• “[T]he Company's filing of a total of 21 Orange Book-listed patents across two families offers another example of the board's efforts in actively mitigating future risk, thus providing further evidence of the board's efforts to protect Pacira's existing IP.”
• “In particular, the effort is fundamentally underpinned by actionable and reasonable goals designed to deliver substantial value by 2030, backed by qualified Management Nominees and a well-balanced and mostly refreshed board. Endorsement for the incumbent slate necessarily reflects an endorsement for continued pursuit of Mr. Lee's plan, a move that appears prudent at this juncture.”

Regarding DOMA’s Director Nominees and Claims:

• “Most notably, DOMA — which has not presented sufficiently compelling cause to scupper the 5x30 Plan at its currently incipient stage — favors a more dramatic solution that would reshape management and the board as a means to swiftly implement a potentially transformative strategic review. While that is already a relatively tall order in the current context, it should be stressed DOMA's nominees do not evidently possess the skills necessary to effectively execute such a plan.”
• “[I]t is unclear whether DOMA's position is truly aligned with a disciplined review of alternatives, or whether DOMA's perception of Pacira's future is already heavily skewed in favor of an expedited sale of the Company.”
• “As for the incumbent board's performance in relation to risk representation, it does not appear that DOMA's critiques are well-founded. A review of the board's filings and press releases regarding patents, pending litigation and risks adequately demonstrate that the language and level of disclosure used by the Company to inform shareholders of such matters are in line with industry standards.”
• “In short, then, the considerable risk and uncertainty attendant to DOMA's promulgated alternative is not adequately offset by the Dissident's core arguments or the composition of its competing slate.”

Commenting on Glass Lewis’ recommendation, Pacira issued the following statement:

We are pleased that Glass Lewis supports our three highly qualified director nominees and recognizes that we are delivering measurable progress across the five pillars of our 5x30 strategy and are well positioned to continue executing our long-term plan for stockholder value creation.

We encourage all stockholders to follow Glass Lewis’ recommendation and vote “FOR” the election of each of Pacira’s highly qualified director nominees – Christopher Christie, Samit Hirawat, MD and Thomas Wiggans – on the BLUE proxy card and DISREGARD any white proxy card you may receive from DOMA.

Your vote is extremely important no matter how many shares you own.

Whether or not you expect to attend the Annual Meeting, please promptly follow the easy instructions on your BLUE proxy card or BLUE voting instruction form to vote by proxy, over the Internet, by telephone or by mail.

Please simply DISREGARD any white proxy card you may receive from DOMA.

If you have questions or require assistance with voting your shares, please contact Pacira’s proxy solicitor:

D.F. King & Co., Inc. at +1 (800) 714-3310 (toll-free from the U.S. and Canada) or +1 (646) 981-1286 (banks and brokers) or email PCRX@dfking.com.

Advisors 
Goldman Sachs & Co. LLC is acting as financial advisor and Perkins Coie LLP is acting as legal counsel to Pacira. 

About Pacira
Pacira delivers innovative, non-opioid pain therapies to transform the lives of patients. Pacira has three commercial-stage non-opioid treatments: EXPAREL^® (bupivacaine liposome injectable suspension), a long-acting local analgesic currently approved for infiltration, fascial plane block, and as an interscalene brachial plexus nerve block, an adductor canal nerve block, and a sciatic nerve block in the popliteal fossa for postsurgical pain management; ZILRETTA^® (triamcinolone acetonide extended-release injectable suspension), an extended-release, intra-articular injection indicated for the management of osteoarthritis knee pain; and iovera_®°, a novel, handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve. The company is also advancing a pipeline of clinical-stage assets for musculoskeletal pain and adjacencies, its most advanced product candidate, PCRX-201 (enekinragene inzadenovec), a novel locally administered gene therapy, is in Phase 2 clinical development for osteoarthritis of the knee. To learn more about Pacira, visit www.pacira.com.

Forward-Looking Statements

Any statements in this document about Pacira’s future expectations, plans, trends, outlook, projections and prospects, and other statements containing the words “believes,” “anticipates,” “plans,” “estimates,” “expects,” “intends,” “may,” “will,” “would,” “could,” “can” and similar expressions, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to: the Annual Meeting; Pacira’s board of directors and the contributions of new directors and director nominees; ‘5x30’, our growth and business strategy, our future outlook, the strength and efficacy of our intellectual property protection and patent terms, our future growth potential and future financial and operating results and trends, our plans, objectives, expectations (financial or otherwise) and intentions, including our plans with respect to the repayment of our indebtedness, anticipated product portfolio and product development programs, strategic alliances, plans with respect to the Non-Opioids Prevent Addiction in the Nation (“NOPAIN”) Act and any other statements that are not historical facts. For this purpose, any statement that is not a statement of historical fact should be considered a forward-looking statement. We cannot assure you that our estimates, assumptions and expectations will prove to have been correct. Actual results may differ materially from these indicated by such forward-looking statements as a result of various important factors, including risks relating to, among others: risks associated with acquisitions, such as the risk that the acquired businesses and/or assets will not be integrated successfully, that such integration may be more difficult, time-consuming or costly than expected or that the expected benefits of the transaction will not occur; our manufacturing and supply chain, global and United States economic conditions (including tariffs, inflation and rising interest rates), and our business, including our revenues, financial condition, cash flows and results of operations; the success of our sales and manufacturing efforts in support of the commercialization of EXPAREL, ZILRETTA and iovera°; the rate and degree of market acceptance of EXPAREL, ZILRETTA and iovera°; the size and growth of the potential markets for EXPAREL, ZILRETTA and iovera° and our ability to serve those markets; our plans to expand the use of EXPAREL, ZILRETTA and iovera° to additional indications and opportunities, and the timing and success of any related clinical trials for EXPAREL, ZILRETTA, iovera° and any of our other product candidates, including but not limited to PCRX-201 (enekinragene inzadenovec) and PCRX-2002; the commercial success of EXPAREL, ZILRETTA and iovera°; the related timing and success of United States Food and Drug Administration supplemental New Drug Applications and premarket notification 510(k)s; the related timing and success of European Medicines Agency Marketing Authorization Applications; our plans to evaluate, develop and pursue additional product candidates utilizing our proprietary high-capacity adenovirus (“HCAd”) vector platform; the approval of the commercialization of our products in other jurisdictions (by either us or our partners); clinical trials in support of an existing or potential HCAd-based product candidate; our commercialization and marketing capabilities; our ability to successfully complete capital projects; the outcome of any litigation; the recoverability of our deferred tax assets; assumptions associated with contingent consideration payments; assumptions used for estimated future cash flows associated with determining the fair value of the company; the anticipated funding or benefits of our share repurchase program; and factors discussed in the “Risk Factors” of Pacira’s most recent Annual Report on Form 10-K and in other filings that it periodically makes with the U.S. Securities and Exchange Commission (the “SEC”). In addition, the forward-looking statements included in this document represent Pacira’s views as of the date of this document. Important factors could cause actual results to differ materially from those indicated or implied by forward-looking statements, and as such Pacira anticipates that subsequent events and developments will cause its views to change. Except as required by applicable law, Pacira undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and readers should not rely on these forward-looking statements as representing Pacira’s views as of any date subsequent to the date of this document.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Pacira’s actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these statements. These factors include the matters discussed and referenced in the “Risk Factors” of Pacira’s most recent Annual Report on Form 10-K and in other filings that Pacira periodically makes with the SEC.

Important Additional Information Regarding Proxy Solicitation

On April 28, 2026, Pacira filed a definitive proxy statement on Schedule 14A and BLUE proxy card with the SEC in connection with its solicitation of proxies for Pacira’s 2026 annual meeting of stockholders (the “2026 Proxy Statement,” and such meeting the “2026 Annual Meeting”). This document is not a substitute for the 2026 Proxy Statement or any other document that Pacira has filed or may file with the SEC in connection with any solicitation by Pacira. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND STOCKHOLDERS OF PACIRA ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING PACIRA’S DEFINITIVE PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. These documents, including the definitive 2026 Proxy Statement (and any amendments or supplements thereto) and other documents filed by Pacira with the SEC, are, or will be when filed, available for no charge on the SEC’s website at http://www.sec.gov and on Pacira’s investor relations website at https://investor.pacira.com.

Participants in the Solicitation

Pacira, its directors, director nominees, certain of its executive officers, and other employees may be deemed participants in the solicitation of proxies from stockholders in respect of the 2026 Annual Meeting. Information regarding the names of such persons and their respective interests in Pacira by security holdings or otherwise is set forth in the 2026 Proxy Statement. Please refer to the sections captioned “Director Compensation,” “Executive Compensation,” “Stock Ownership Information” and “Appendix D—Supplemental Information Regarding Participants in the Solicitation” in the 2026 Proxy Statement. To the extent holdings of Pacira’s directors, director nominees, and executive officers who may be deemed to be participants in the solicitation in Pacira’s securities have changed since the amounts described in the 2026 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership of Securities on Form 4 filed with the SEC, as applicable.

Additional information can also be found in Pacira’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 26, 2026. Details concerning potential participants in the solicitation, including Pacira’s director nominees for election at the 2026 Annual Meeting, are also included in the 2026 Proxy Statement. These documents, including the 2026 Proxy Statement (and any amendments or supplements thereto) and other documents filed by Pacira with the SEC, are, or will be when filed, available for no charge on the SEC’s website at https://www.sec.gov and on Pacira’s investor relations website at https://investor.pacira.com.

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¹ DOMA Perpetual Capital Management LLC is affiliated with certain other persons and entities identified in DOMA Perpetual’s definitive proxy solicitation materials dated May 12, 2026.
² Reflects total stockholder return performance from the announcement of the 5x30 plan on January 10, 2025, through April 27, 2026, the last trading day before Pacira filed its definitive proxy statement for the 2026 Annual Meeting of Stockholders.
³ Permission to use quotes neither sought nor received.

CONTACT: Contacts

Investor Contact: Susan Mesco, (973) 451-4030 susan.mesco@pacira.com
Media Contact: Kim Hamilton, (973) 254-4644 kim.hamilton@pacira.com