Pacira BioSciences rises as activist DOMA seeks board overhaul, CEO ouster

Pacira Biosciences

12/03/2026 12:47

** Shares of drugmaker Pacira BioSciences PCRX.O rise 4.25% to $23.80 premarket

** Activist investor DOMA Perpetual Capital, which owns about 7.3% stake, says it has nominated three directors and has called for CEO Frank Lee’s immediate removal

** DOMA urges Pacira to explore a sale, arguing years of stock declines, missed earnings targets and rising expenses have hurt shareholders

** Activist investor says Pacira shares are down 56% over the past decade and 68% over five years, and the company has not posted a profit in the last two years

** DOMA criticises higher management pay and a costly headquarters move, and says Pacira is too small to fully market its key non-opioid pain drug Exparel

** Shares rose ~37% in 2025

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))