Will PCRX Join The $100 Club?

(RTTNews) - Pacira Pharmaceuticals Inc. (PCRX) has been on a steady rise over the last three years, thanks to the continued success of its flagship drug, Exparel, a time-release pain medication.

Exparel was approved by FDA for postsurgical pain management in October 2011 and was launched in the U.S. in April of 2012. The drug has been on the market for nine quarters now, and its sales have been gaining momentum each new quarter.

Here's how the drug has fared so far in terms of quarterly sales... $2.3 million in Q2, 2012; $4.6 million in Q3, 2012; $7.8 million in Q4, 2012; $10.4 million in Q1, 2013; $15.2 million in Q2, 2013; $20 million in Q3, 2013; $30.5 million in Q4, 2013; $34.4 million in Q1, 2014 and $44.9 million in Q2, 2014.

The company has also sought FDA approval for the expanded use of Exparel in a nerve block indication. The regulatory agency's decision is expected by March 5, 2015.

Pacira went public on February 3, 2011, offering its shares at a price of $7 each, and it's been a remarkable ride for the stock all these years. The stock touched an all-time high of $97.33 yesterday before closing at $95.38.

Looking ahead, Pacira believes that Exparel is well positioned to become a blockbuster drug over the next several years. Given the consistent quarter over quarter growth, an anticipated nerve block indication next year and expanded manufacturing capacity for Exparel, it would be worth watching how the stock plays out. Will it join the $100 club?

Stay tuned...