#USA #Miami #Pacira BioSciences #DOMA Perpetual #Stock Performance

DOMA Perpetual Nominates New Candidates for Pacira BioSciences Board

In a bold move to rectify the declining fortunes of Pacira BioSciences, DOMA Perpetual Capital Management has announced the nomination of three highly experienced candidates for the company’s board of directors. This decision comes in light of a troubling trend where Pacira’s stock has plummeted by 76% over the past decade, while remuneration for the current board and management approaches half a billion dollars, equivalent to about 50% of the company's market cap.

Background on Pacira's Performance

Under the leadership of CEO Frank Lee, Pacira has seen its stock price decrease by 33%. The current board’s management strategies, especially concerning capital allocation, have come under severe scrutiny. Critics assert that these strategies are misaligned with the interests of shareholders, further exacerbating the company's financial decline. In a market environment where the S&P 500 has experienced a remarkable gain of 167% within the same period, the gap in performance is shocking and has raised questions about board accountability.

DOMA's nominees—Joseph Kromholz, Philip Pucciarelli, and Eric de Armas—are presented as a solution to this pressing issue. Each candidate brings a wealth of expertise that the current board reportedly lacks, particularly in areas of strategic capital allocation, financial law, and risk management.

The Nominees

1. Joseph Kromholz: An accomplished attorney well-versed in intellectual property law, Kromholz's expertise spans patents, trademarks, copyrights, and related litigations. His legal prowess could bring valuable insights into protecting and enhancing Pacira's proprietary developments.

2. Philip Pucciarelli: With over 25 years of experience in investment banking, Pucciarelli specializes in mergers and acquisitions, corporate finance advisory, and strategic capital raising specifically tailored for healthcare services companies. His background could prove critical in steering Pacira toward more sound financial decisions.

3. Eric de Armas: Currently serving as the CFO and CCO of DOMA Perpetual, de Armas has extensive experience in corporate finance, risk management, and strategic capital allocation—a combination that is vital for Pacira's financial recovery. His deep understanding of the fiscal landscape will be instrumental in guiding the company back to stability.

Importance of Board Change

DOMA believes that a significant change in the board's composition is essential to accelerate shareholder returns and rectify what they term a decade of corporate malfeasance and stagnation in stock performance. DOMA emphasizes its commitment to bringing shareholder interests to the forefront, suggesting that the current management’s approach prioritizes compensation and risk-taking over the stability and growth that shareholders expect.

The activist investment firm is advocating for aggressive measures to boost shareholder value, including potential stock buybacks utilizing Pacira's reserve cash and free cash flow, if such actions are financially beneficial. They further argue that the board should refrain from any high-risk capital allocations until clarity is achieved in pending intellectual property disputes.

The Path Forward

As the upcoming annual meeting of stockholders approaches, shareholders are encouraged to examine the proposals put forward by DOMA closely. The firm is in the process of distributing proxy materials, which will contain crucial insights and recommendations.

In summary, DOMA Perpetual's efforts to change the leadership of Pacira BioSciences could signal a pivotal shift in the company's governance and operational strategy. As the push for board reform continues, the involved parties remain poised to engage actively with the shareholder base, emphasizing the necessity of aligning company management with the interests of its investors.