DOMA Believes Pacira's Current Stock Price Represents Opportunity For Shareholder Return

(RTTNews) - DOMA Perpetual Capital Management sent a letter to the Board of Pacira Biosciences (PCRX) urging the Board to accelerate and increase stock repurchase. DOMA said Pacira Biosciences should immediately endeavor to bring its share count down from 46 to 30 million shares - a 35% reduction - with the first 12 million re-purchased before year end.

"Before considering any other capital-intensive activities, all cash flow should be utilized for buying back stock. After completing the currently approved $150 million buyback, which we urge the company to do before the release of third quarter earnings this year, the Board should approve a new $300 million buyback in fourth quarter. This would allow the company to buy back $200 million of stock before year-end, acquiring close to, if not more than, 12 million shares. Additional buybacks should continue into 2025, for as long as they can be done at accretive prices," DOMA stated.