Pacira BioSciences, Inc.

Thank you for standing by. My name is Hermione, and I will be your conference operator today. At this time, I would like to welcome everyone to Q1 2024 Paseura Biosciences Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to return a question, press star 1 again. I would now like to turn the call over to Susan Lesko, Head of Investor Relations. Please go ahead.

Thank you, and good afternoon, everyone. Welcome to today's conference call to discuss our first quarter 2024 financial results. Joining me are Frank Lee, Chief Executive Officer, and Charlie Reinhart, Chief Financial Officer. Jonathan Slonin, Chief Medical Officer, is also here for today's question and answer session. Before we begin, let me remind you that this call will include forward-looking statements based on current expectations. Such statements represent our judgment as of today and may involve risks and uncertainties. For information concerning risk factors that could affect the company, please refer to our filings with the SEC, which are available from the SEC or the PACERO website. With that, I will now turn the call over to Frank Lee.

Thank you, Susan. Good afternoon, everyone. It's been an exciting and productive time since I joined the company earlier this year, and I'm pleased to say sales are off to a solid start and on track for all three of our trusted opioids-bearing products, which continue to make an important impact on patients' lives. This year, our priority is Expiril, which is what I'll focus on today, I'll also touch briefly on PCRx201. Let's start with XBRL. Our goals are centered on preparing the organization and marketplace to fully realize its long-term potential. Let me walk you through the progress we've made in advancing three key drivers for 2024. First, advancing the launch of XBRL and two new lower extremity nerve block indications. Second, progressing our awareness and educational activities around separate Medicare reimbursement at average selling price, or ASP, plus 6% in outpatient settings beginning in 2025 with the implementation of NoPain. And third, expanding patient access to Expiril through 340B pricing and new GPO partnerships, such as Premier. I'll start with lower extremity nerve block, where we're seeing positive market receptivity across all sites of care. Delivering four days of opioids-bearing pain control with a single 10-mL Expirel dose is an attractive value proposition to the anesthesia and surgical community for knee, foot, and ankle surgeries. Physicians are also reporting consistent results with some patients not taking any opioids. following very painful lower extremity procedures. To remind you, we launched with a strong presence in the TKA segment. We're also working to build relationships in advanced product uptake through education and training in other lower extremity procedures, like ACL repair, foot and ankle procedures.