Pacira BioSciences to Review Activist Investor's Proposed Board Nominees

Dow Jones03-12 05:43

By Kelly Cloonan

Pacira BioSciences said its board would review the nominees proposed by activist investor Doma Perpetual Capital Management.

Pacira confirmed Wednesday that Doma nominated three director candidates to stand for election to its board at its annual meeting of shareholders.

Doma had said earlier Wednesday its nominees include Christopher Dennis, a physician executive and board-certified psychiatrist; Oliver Benton Curtis III, a former federal prosecutor and trial lawyer; and Eric de Armas, Doma's finance chief and chief compliance officer.

Pacira said it has met with Doma 12 times since Frank Lee became its chief executive officer in 2024. It said Doma has not provided new insights regarding Pacira's strategy that it has not already evaluated or executed.

Doma said Pacira has underserved its shareholders by raising management compensation and recording higher expenses as the stock has declined. Doma also called for the replacement of Pacira's CEO.

Pacira said its plans have the backing of its majority shareholders.

"In our regular conversations with Pacira shareholders representing a majority of outstanding shares, we have heard clear support for our growth strategy," Pacira said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

March 11, 2026 17:43 ET (21:43 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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