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STOCK PLANS
 9 Months Ended
Sep. 30, 2024
Stockholders' Equity Note [Abstract]  
STOCK PLANS STOCK PLANS
Stock Incentive Plans
In April 2014, the Company’s board of directors approved and adopted the Company’s 2014 Inducement Plan (the “2014 Inducement Plan”), pursuant to which awards could be made to new employees under the 2014 Inducement Plan for up to 175,000 shares of the Company’s common stock as a material inducement to such persons entering into employment with the Company. In December 2023, the board of directors, upon recommendation of the compensation committee of the board of directors, adopted the Pacira BioSciences, Inc. Amended and Restated 2014 Inducement Plan (as amended and restated, the “Inducement Plan”) such that, among other things, an additional 642,093 shares of the Company’s common stock were reserved for issuance under the Inducement Plan. In September 2024, the board of directors again amended the Inducement Plan upon the recommendation of the compensation committee to add an additional 707,907 shares of the Company’s common stock to bring the total amount of shares reserved for issuance under the Inducement Plan to 1,525,000, of which 685,407 shares remain available for issuance, and the term of the Inducement Plan was extended such that it will now expire on September 3, 2034.

The Inducement Plan allows the granting of nonstatutory stock options, restricted stock awards and other stock-based awards.
Stock-Based Compensation
The Company recognized stock-based compensation expense in the periods presented as follows (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Cost of goods sold$1,509 $1,272 $3,896 $4,432 
Research and development1,794 2,220 5,522 5,817 
Selling, general and administrative9,137 9,038 25,970 25,226 
Contingent consideration (gains) charges, restructuring charges and other790 — 3,517 — 
        Total$13,230 $12,530 $38,905 $35,475 
Stock-based compensation from:
    Stock options$4,767 $5,957 $17,292 $18,163 
    Restricted stock units8,276 6,373 21,003 16,592 
    Employee stock purchase plan187 200 610 720 
        Total$13,230 $12,530 $38,905 $35,475 
Equity Awards
The following tables contain information about the Company’s stock option and restricted stock unit, or RSU, activity for the nine months ended September 30, 2024:
Stock Options Number of
Stock Options		 Weighted Average Exercise Price (Per Share)
 Outstanding at December 31, 2023
7,079,748 $49.40 
     Granted1,164,323 30.87 
     Forfeited(240,232)45.52 
     Expired(1,108,285)61.72 
 Outstanding at September 30, 2024
6,895,554 44.42 
Restricted Stock Units Number of
Restricted
Stock Units		 Weighted Average Grant Date Fair Value (Per Share)
Unvested at December 31, 2023
1,364,618 $47.66 
     Granted1,936,065 28.82 
     Vested(461,715)49.33 
     Forfeited(239,810)39.41 
Unvested at September 30, 2024
2,599,158 33.90 
The weighted average fair value of stock options granted during the nine months ended September 30, 2024 was $13.13 per share. The fair values of stock options granted were estimated using the Black-Scholes option valuation model with the following weighted average assumptions:
Black-Scholes Weighted Average AssumptionNine Months Ended September 30, 2024
Expected dividend yieldNone
Risk-free interest rate3.98%
Expected volatility40.8%
Expected term of options5.23 years
Employee Stock Purchase Plan
The Company’s Amended and Restated 2014 Employee Stock Purchase Plan, or ESPP, features two six-month offering periods per year, running from January 1 to June 30 and July 1 to December 31. Under the ESPP, employees may elect to contribute after-tax earnings to purchase shares at 85% of the closing fair market value of the Company’s common stock on either the offering date or the purchase date, whichever is lesser. During the nine months ended September 30, 2024, 56,077 shares were purchased and issued through the ESPP.