- Adjusted EBITDA for the quarter was $54.3 million.
- Gross margin improved significantly to 82% from 76% last year, benefiting from manufacturing efficiencies and elimination of EXPAREL royalties.
- Non-GAAP R&D expenses increased to $24.7 million due to clinical trial enrollment and registrational studies.
- Non-GAAP SG&A expenses rose to $77.2 million, reflecting investments in commercial and market access efforts.
- Second quarter EXPAREL sales increased 4% year-over-year to $142.9 million, driven by 6% volume growth.
- The company repurchased $50 million of common stock, retiring approximately 2 million shares.
- ZILRETTA sales rose slightly to $31.3 million from $30.7 million in the prior year quarter.
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Dafinchi