2011 Q4 Form 10-K Financial Statement

#000104746913002336 Filed on March 07, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q1 2010 Q4
Revenue $4.200M $3.863M $2.200M
YoY Change 90.91% -19.52% -48.84%
Cost Of Revenue $6.600M $3.667M $2.100M
YoY Change 214.29% -0.89% -40.0%
Gross Profit -$2.400M $196.0K $100.0K
YoY Change -2500.0% -80.4% -87.5%
Gross Profit Margin -57.14% 5.07% 4.55%
Selling, General & Admin $7.200M $3.523M $2.400M
YoY Change 200.0% 252.3% 118.18%
% of Gross Profit 1797.45% 2400.0%
Research & Development $2.100M $3.795M $3.700M
YoY Change -43.24% -17.5% -50.67%
% of Gross Profit 1936.22% 3700.0%
Depreciation & Amortization $1.280M $990.0K $1.000M
YoY Change 28.0% -3.88% -1.96%
% of Gross Profit 505.1% 1000.0%
Operating Expenses $9.400M $10.99M $6.100M
YoY Change 54.1% 92.72% -29.07%
Operating Profit -$11.80M -$7.122M -$6.000M
YoY Change 96.67% 51.53% -23.08%
Interest Expense -$600.0K $2.481M -$1.300M
YoY Change -53.85% -513.5% 85.71%
% of Operating Profit
Other Income/Expense, Net $0.00 -$2.653M $500.0K
YoY Change -100.0% 1226.5% -200.0%
Pretax Income -$15.30M -$9.800M -$7.000M
YoY Change 118.57% 81.48% -22.22%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$15.30M -$9.775M -$7.000M
YoY Change 118.57% 81.02% -22.22%
Net Earnings / Revenue -364.29% -253.04% -318.18%
Basic Earnings Per Share
Diluted Earnings Per Share -$624.5K -$980.0K -$407.0K
COMMON SHARES
Basic Shares Outstanding 17.23M shares 10.01M shares
Diluted Shares Outstanding 10.01M shares

Balance Sheet

Concept 2011 Q4 2011 Q1 2010 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.20M $59.30M $26.10M
YoY Change 191.95%
Cash & Equivalents $46.17M $59.33M $26.13M
Short-Term Investments $30.00M $0.00
Other Short-Term Assets $3.100M $1.100M $2.100M
YoY Change 47.62%
Inventory $1.245M $1.800M $1.605M
Prepaid Expenses
Receivables $2.113M $1.800M $1.191M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $82.65M $64.00M $31.06M
YoY Change 166.14%
LONG-TERM ASSETS
Property, Plant & Equipment $25.10M $24.40M $23.95M
YoY Change 4.81%
Goodwill $0.00
YoY Change
Intangibles $5.259M $8.912M
YoY Change -40.99%
Long-Term Investments
YoY Change
Other Assets $479.0K $1.100M $2.645M
YoY Change -81.89%
Total Long-Term Assets $30.84M $33.90M $35.51M
YoY Change -13.14%
TOTAL ASSETS
Total Short-Term Assets $82.65M $64.00M $31.06M
Total Long-Term Assets $30.84M $33.90M $35.51M
Total Assets $113.5M $97.90M $66.56M
YoY Change 70.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.440M $6.100M $4.315M
YoY Change -20.28%
Accrued Expenses $7.159M $3.800M $4.983M
YoY Change 43.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.039M $7.200M $3.182M
YoY Change 121.21%
Total Short-Term Liabilities $31.91M $19.70M $16.32M
YoY Change 95.51%
LONG-TERM LIABILITIES
Long-Term Debt $18.54M $22.40M $21.87M
YoY Change -15.24%
Other Long-Term Liabilities $2.778M $24.60M $3.783M
YoY Change -26.57%
Total Long-Term Liabilities $21.32M $47.00M $25.65M
YoY Change -16.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.91M $19.70M $16.32M
Total Long-Term Liabilities $21.32M $47.00M $25.65M
Total Liabilities $65.22M $66.70M $114.9M
YoY Change -43.26%
SHAREHOLDERS EQUITY
Retained Earnings -$180.2M -$136.9M
YoY Change 31.65%
Common Stock $25.00K $1.000K
YoY Change 2400.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.000K $2.000K
YoY Change 0.0%
Treasury Stock Shares 1.065K shares 1.065K shares
Shareholders Equity $48.27M $31.10M -$48.38M
YoY Change
Total Liabilities & Shareholders Equity $113.5M $97.90M $66.56M
YoY Change 70.5%

Cashflow Statement

Concept 2011 Q4 2011 Q1 2010 Q4
OPERATING ACTIVITIES
Net Income -$15.30M -$9.775M -$7.000M
YoY Change 118.57% 81.02% -22.22%
Depreciation, Depletion And Amortization $1.280M $990.0K $1.000M
YoY Change 28.0% -3.88% -1.96%
Cash From Operating Activities -$7.600M -$3.990M -$5.840M
YoY Change 30.14% 10.83% -795.24%
INVESTING ACTIVITIES
Capital Expenditures -$2.490M -$830.0K -$2.950M
YoY Change -15.59% 97.62% 637.5%
Acquisitions
YoY Change
Other Investing Activities -$9.290M $0.00 $0.00
YoY Change
Cash From Investing Activities -$11.76M -$830.0K -$2.950M
YoY Change 298.64% 97.62% 637.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $49.00M $37.10M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 49.13M 38.02M 21.07M
YoY Change 133.18% 406.93% 844.84%
NET CHANGE
Cash From Operating Activities -7.600M -3.990M -5.840M
Cash From Investing Activities -11.76M -830.0K -2.950M
Cash From Financing Activities 49.13M 38.02M 21.07M
Net Change In Cash 29.77M 33.20M 12.28M
YoY Change 142.43% 854.02% 359.93%
FREE CASH FLOW
Cash From Operating Activities -$7.600M -$3.990M -$5.840M
Capital Expenditures -$2.490M -$830.0K -$2.950M
Free Cash Flow -$5.110M -$3.160M -$2.890M
YoY Change 76.82% -0.63% -333.06%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2012 dei Entity Voluntary Filers
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CY2012 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'> <p style="FONT-FAMILY: times"><font size="2"><b>NOTE 3&#8212;RECENT ACCOUNTING PRONOUNCEMENTS</b></font></p> <p style="FONT-FAMILY: times"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In February 2013, the Financial Accounting Standards Board, or FASB, issued amendments to the accounting guidance for presentation of comprehensive income to improve the reporting of reclassifications out of accumulated other comprehensive income. The amendments do not change the current requirements for reporting net income or other comprehensive income, but do require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where the net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about these amounts. These amendments are effective prospectively for reporting periods beginning after December&#160;15, 2012. The Company does not believe the adoption of this guidance will have a material impact on the consolidated financial statements.</font></p> <p style="FONT-FAMILY: times"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company.</font></p></div>
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CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30332000 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16437000 shares
CY2010 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
574000 shares
CY2011 us-gaap Royalty Revenue
RoyaltyRevenue
3720000 USD
CY2011Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
862000 USD
CY2012Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4081000 USD
CY2011Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
96000 USD
CY2012Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
5979000 USD
CY2011Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
287000 USD
CY2012Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2017000 USD
CY2012Q4 us-gaap Inventory Net
InventoryNet
12077000 USD
CY2011Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33385000 USD
CY2011 us-gaap Interest Paid
InterestPaid
4739000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
50719000 USD
CY2011Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8282000 USD
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11603000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39116000 USD
CY2012 us-gaap Depreciation
Depreciation
3600000 USD
CY2012 us-gaap Cost Of Goods Sold
CostOfGoodsSold
31744000 USD
CY2010 us-gaap Cost Of Goods Sold
CostOfGoodsSold
11374000 USD
CY2011 us-gaap Interest Costs Capitalized
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800000 USD
CY2011 us-gaap Depreciation
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2000000 USD
CY2010 us-gaap Depreciation
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1800000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3208000 USD
CY2012 us-gaap Amortization Of Intangible Assets
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2100000 USD
CY2011 us-gaap Amortization Of Intangible Assets
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2300000 USD
CY2010 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2300000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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2050000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
755000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
322000 USD
CY2011Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2824000 USD
CY2012Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1635000 USD
CY2012Q4 pcrx Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
5924000 USD
CY2012Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
360000 USD
CY2012Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9792000 USD
CY2011Q4 pcrx Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
3090000 USD
CY2011Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
345000 USD
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1287000 shares
CY2010 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8886000 shares
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1437000 shares
CY2011 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
907000 USD
CY2011 us-gaap Debt Conversion Converted Instrument Amount1
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51222000 USD
CY2011 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
6000 USD
CY2011 us-gaap Cost Of Goods Sold
CostOfGoodsSold
15310000 USD
CY2012 us-gaap Cost Of Services Licenses And Services
CostOfServicesLicensesAndServices
395000 USD
CY2010 us-gaap Cost Of Services Licenses And Services
CostOfServicesLicensesAndServices
902000 USD
CY2011 us-gaap Cost Of Services Licenses And Services
CostOfServicesLicensesAndServices
1429000 USD
CY2012 us-gaap Cost Of Revenue
CostOfRevenue
32139000 USD
CY2011Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
62231000 USD
CY2011Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
3395000 USD
CY2011Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
4867000 USD
CY2011Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
2685000 USD
CY2011Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
8745000 USD
CY2011Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1325000 USD
CY2011Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
83248000 USD
CY2011Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
83248000 USD
CY2012Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
89150000 USD
CY2012Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
3631000 USD
CY2012Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
3891000 USD
CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
3388000 USD
CY2012Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
1897000 USD
CY2012Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1997000 USD
CY2012Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
103954000 USD
CY2012Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
103954000 USD
CY2011 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
16600000 USD
CY2010 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
12200000 USD
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
20700000 USD
CY2012 pcrx Minimum Cumulative Percentage Of Change In Ownership As Condition To Offset Taxable Income Or Tax
MinimumCumulativePercentageOfChangeInOwnershipAsConditionToOffsetTaxableIncomeOrTax
0.50 pure
CY2012 pcrx Period Within Which Cumulative Percentage Of Change In Ownership Occurs As Condition To Offset Taxable Income Or Tax
PeriodWithinWhichCumulativePercentageOfChangeInOwnershipOccursAsConditionToOffsetTaxableIncomeOrTax
P3Y
CY2011Q4 us-gaap Unrecognized Tax Benefits
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420000 USD
CY2010Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
420000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
420000 USD
CY2011 us-gaap Defined Contribution Plan Cost Recognized
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200000 USD
CY2007Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
3300000 USD
CY2012 pcrx Amortization Of Unfavorable Lease Accrual
AmortizationOfUnfavorableLeaseAccrual
400000 USD
CY2011 pcrx Amortization Of Unfavorable Lease Accrual
AmortizationOfUnfavorableLeaseAccrual
400000 USD
CY2010 pcrx Amortization Of Unfavorable Lease Accrual
AmortizationOfUnfavorableLeaseAccrual
400000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
5284000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5463000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3464000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
201000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
14817000 USD
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4800000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
405000 USD
CY2011 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4700000 USD
CY2010 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4500000 USD
CY2012Q4 us-gaap Deferred Rent Credit Noncurrent
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1300000 USD
CY2011Q4 us-gaap Deferred Rent Credit Noncurrent
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1400000 USD
CY2012 pcrx Percentage Of Royalty On Sale Of Product
PercentageOfRoyaltyOnSaleOfProduct
0.03 pure
CY2011 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2493000 USD
CY2010 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23000 USD
CY2012 us-gaap Allocated Share Based Compensation Expense
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4776000 USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5204537 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
4459232 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
745305 shares
CY2012Q4 pcrx Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized Prior To Amendment
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorizedPriorToAmendment
1729498 shares
CY2012Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights
10.79
CY2012Q2 dei Entity Public Float
EntityPublicFloat
282645267 USD
CY2013Q1 dei Entity Common Stock Shares Outstanding
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32656356 shares
CY2011Q4 us-gaap Preferred Stock Value
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USD
CY2011 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
15000 USD
CY2012 pcrx Amortization Of Other Assets And Unfavorable Lease Obligation
AmortizationOfOtherAssetsAndUnfavorableLeaseObligation
-239000 USD
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
770000 USD
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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4776000 USD
CY2012 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
831000 USD
CY2012 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-1000 USD
CY2012 pcrx Stock Issued During Period Value Follow On Public Offering Issues
StockIssuedDuringPeriodValueFollowOnPublicOfferingIssues
62855000 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
4776000 USD
CY2012 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
224000 USD
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2239000 USD
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10832000 USD
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
59000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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1386000 USD
CY2012 pcrx Increase Decrease In Royalty Interest Obligation
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1076000 USD
CY2012 us-gaap Increase Decrease In Other Operating Liabilities
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-106000 USD
CY2012 us-gaap Increase Decrease In Deferred Revenue
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-16778000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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18257000 USD
CY2012 us-gaap Proceeds From Sale Of Property Plant And Equipment
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1000 USD
CY2012 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
54047000 USD
CY2012 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
53120000 USD
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
870000 USD
CY2012 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
12000 USD
CY2012 us-gaap Use Of Estimates
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<div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'> <p style="FONT-FAMILY: times"><font size="2"><b><i>Use of Estimates</i></b></font></p> <p style="FONT-FAMILY: times"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, including disclosure of contingent assets and contingent liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, among other things, the valuation of assets acquired, impairment of long-lived assets, goodwill, stock-based compensation and valuation of deferred tax assets. The Company's critical accounting policies are those that are both most important to the Company's consolidated financial condition and results of operations and require the most difficult, subjective or complex judgments on the part of management in their application, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. Because of the uncertainty of factors surrounding the estimates or judgments used in the preparation of the consolidated financial statements, actual results could differ from these estimates.</font></p></div>
CY2012 pcrx Amount Received In Lockbox Restricted For Payment Of Royalty Interest
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2500000 USD
CY2012 pcrx Payment Period Of Royalty Interest From Restricted Amount In Lockbox
PaymentPeriodOfRoyaltyInterestFromRestrictedAmountInLockbox
P12M
CY2012Q4 pcrx Royalty Interest Obligation Current
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823000 USD
CY2012Q4 pcrx Royalty Interest Obligation Noncurrent
RoyaltyInterestObligationNoncurrent
857000 USD
CY2011Q4 pcrx Long Term Debt Including Royalty Interest Obligation
LongTermDebtIncludingRoyaltyInterestObligation
28332000 USD
CY2012Q4 pcrx Long Term Debt Including Royalty Interest Obligation
LongTermDebtIncludingRoyaltyInterestObligation
26871000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
-48383000 USD
CY2012 us-gaap Number Of Reportable Segments
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1 item
CY2012 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000 USD
CY2012Q4 us-gaap Goodwill
Goodwill
8297000 USD
CY2010 us-gaap Royalty Revenue
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3705000 USD
CY2011 pcrx Increase Decrease In Royalty Interest Obligation
IncreaseDecreaseInRoyaltyInterestObligation
1815000 USD
CY2010 pcrx Increase Decrease In Royalty Interest Obligation
IncreaseDecreaseInRoyaltyInterestObligation
675000 USD
CY2012 pcrx Payment Of Contingent Consideration
PaymentOfContingentConsideration
10339000 USD
CY2012 us-gaap Repayments Of Debt
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26250000 USD
CY2012 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1365000 USD
CY2011Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
29970000 USD
CY2011Q4 us-gaap Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
25000 USD
CY2011Q4 us-gaap Available For Sale Securities Gross Unrealized Losses1
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10000 USD
CY2012 pcrx Beginning Period Prior To Product Expiration Allowed For Returning Product
BeginningPeriodPriorToProductExpirationAllowedForReturningProduct
P6M
CY2012 pcrx Period After Product Expiration Upto Which Product Is Allowed To Be Returned
PeriodAfterProductExpirationUptoWhichProductIsAllowedToBeReturned
P12M
CY2012Q4 pcrx Inventory Valuation Reserve Of Product
InventoryValuationReserveOfProduct
300000 USD
CY2012 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
200000 USD
CY2011 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6895000 USD
CY2010 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
7640000 USD
CY2012Q2 pcrx Payment Obligation Arising Due To First Commercial Sale Of Product In Connection With Acquisition
PaymentObligationArisingDueToFirstCommercialSaleOfProductInConnectionWithAcquisition
10000000 USD
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
27500000 USD
CY2012 pcrx Class Of Warrant Or Right Value Of Warrant Issued With Debt
ClassOfWarrantOrRightValueOfWarrantIssuedWithDebt
1354000 USD
CY2011Q4 us-gaap Debt Instrument Unamortized Discount
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674000 USD
CY2012Q2 us-gaap Goodwill
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8000000 USD
CY2012Q4 pcrx Goodwill Recorded For Earn Out Payments
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300000 USD
CY2012Q4 us-gaap Debt Instrument Unamortized Discount
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2309000 USD
CY2011Q4 pcrx Royalty Interest Obligation
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2756000 USD
CY2012Q4 pcrx Royalty Interest Obligation
RoyaltyInterestObligation
1680000 USD
CY2012 us-gaap Gains Losses On Extinguishment Of Debt
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-1062000 USD
CY2011 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1644000 USD
CY2010 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
146000 USD
CY2011Q4 pcrx Long Term Debt Noncurrent Gross
LongTermDebtNoncurrentGross
19211000 USD
CY2012Q4 pcrx Long Term Debt Noncurrent Gross
LongTermDebtNoncurrentGross
27500000 USD
CY2011Q4 us-gaap Long Term Debt
LongTermDebt
25576000 USD
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
25191000 USD
CY2012 us-gaap Inventory Write Down
InventoryWriteDown
200000 USD
CY2012Q4 pcrx Accrued End Of Term Fee Current
AccruedEndOfTermFeeCurrent
1873000 USD
CY2011Q4 pcrx Accrued End Of Term Fee Current
AccruedEndOfTermFeeCurrent
900000 USD
CY2010 us-gaap Defined Contribution Plan Cost Recognized
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0 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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1523000 USD
CY2012Q4 us-gaap Accounts Receivable Net Current
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4352000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
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1920000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
511000 USD
CY2012Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2569000 USD
CY2012Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
972000 USD
CY2012Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
25191000 USD
CY2012Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
3720000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
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2275000 USD
CY2012Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
298317000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-232520000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
27000 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2000 USD
CY2012 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
18191000 USD
CY2012 pcrx Collaborative Licensing And Development Revenue
CollaborativeLicensingAndDevelopmentRevenue
18390000 USD
CY2012 us-gaap Royalty Revenue
RoyaltyRevenue
2503000 USD
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9937000 USD
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
46306000 USD
CY2012 us-gaap Investment Income Interest
InvestmentIncomeInterest
275000 USD
CY2012 us-gaap Interest Expense
InterestExpense
1807000 USD
CY2012 us-gaap Royalty Expense
RoyaltyExpense
278000 USD
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-111000 USD
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
12000 USD
CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
15000 USD
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-52269000 USD
CY2011 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-43313000 USD
CY2010 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-27149000 USD
CY2012 pcrx Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
100000 USD
CY2012 pcrx Debt Issuance On Issuance Of Warrants Value
DebtIssuanceOnIssuanceOfWarrantsValue
1354000 USD
CY2011 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0084 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0184 pure
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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15000 USD
CY2011Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
15000 USD
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
12000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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27000 USD
CY2012Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
162885 shares
CY2012Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights
10.97
CY2012Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
490464 shares
CY2011Q4 us-gaap Class Of Warrant Or Right Outstanding
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527656 shares
CY2011Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
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10.22
CY2011Q3 us-gaap Net Rentable Area
NetRentableArea
13000
CY2012Q4 us-gaap Net Rentable Area
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106000
CY2012Q2 pcrx Management Agreement Contract Sum
ManagementAgreementContractSum
7700000 USD
CY2012Q4 pcrx Minimum Age Of Pediatric Patients To Study Exparel
MinimumAgeOfPediatricPatientsToStudyEXPAREL
12 item
CY2012Q4 pcrx Maximum Age Of Pediatric Patients To Study Exparel
MaximumAgeOfPediatricPatientsToStudyEXPAREL
18 item
CY2012Q4 pcrx Age Of Children Pediatric Patients To Study Exparel
AgeOfChildrenPediatricPatientsToStudyEXPAREL
2 item
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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81000 USD
CY2011 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
52619000 USD
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
2100000 shares
CY2012Q2 pcrx Contingent Payment Obligation Established For Sale Of Product In Connection With Acquisition
ContingentPaymentObligationEstablishedForSaleOfProductInConnectionWithAcquisition
2000000 USD
CY2011 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
22649000 USD
CY2013Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
120000000 USD
CY2011Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6000000 shares
CY2011Q1 us-gaap Proceeds From Issuance Of Common Stock
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37100000 USD
CY2011Q4 pcrx Stock Issued During Period Shares Follow On Public Offering Issues
StockIssuedDuringPeriodSharesFollowOnPublicOfferingIssues
8050000 shares
CY2012Q2 pcrx Stock Issued During Period Shares Follow On Public Offering Issues
StockIssuedDuringPeriodSharesFollowOnPublicOfferingIssues
6900000 shares
CY2012Q2 us-gaap Share Price
SharePrice
9.75
CY2012Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
62900000 USD
CY2011Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
49000000 USD
CY2012Q4 pcrx Common Stock Shares Resulting From Cashless Exercise Of Warrants
CommonStockSharesResultingFromCashlessExerciseOfWarrants
67279 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3500 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3500 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3500 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0673 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0398 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0775 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.3962 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.3827 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.4477 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.0000 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.0013 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.0018 pure
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2010 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0211 pure
CY2012Q4 pcrx Operating Loss Carryforwards Related To Stock Based Compensation
OperatingLossCarryforwardsRelatedToStockBasedCompensation
2200000 USD
CY2011 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
400000 USD
CY2012 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
400000 USD

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