Heron Therapeutics Inc (HRTX)

Heron Therapeutics Inc Stock (HRTX) dropped by 6.79% from $1.62 to $1.51 in the trading on Monday August 14, 2023. The reason why HRTX stock down today is due to its mixed second-quarter 2023 results. Heron Therapeutics, Inc., a clinical-stage biopharmaceutical company developing novel, localized sustained-release therapies for acute and chronic pain, today announced its financial results for the second quarter ended June 30, 2023. The results concerned investors, causing HRTX stock down today.

• Second-quarter GAAP EPS of -$0.35, missing the consensus by $0.12. Adjusted EPS of -$0.28, in line with analyst expectations.
• Revenue of $31.76M, up 14.9% year-over-year, beating the consensus by $0.06M.

Heron Therapeutics Inc Stock (HRTX) dropped by 37.22% from $2.23 to $1.40 in the trading on Friday May 12, 2023. The reason why HRTX stock down today is due to missed Q1 2023 results.

• Q1 net loss narrowed to -$32.77M, compared to -$63.89 million in Q1 2022.
• Net product sales grew 26.2% Y/Y to $29.62 million but missed analysts expectations. The company said sales growth was mainly due to its oncology care franchise, which increased 15% Y/Y to $25.8 million.
• Net product sales of Zynrelef (bupivacaine and meloxicam) extended-release solution were $3.5 million in Q1. The pain drug had generated $3.9 million in Q4.

Heron Therapeutics Inc Stock (HRTX) dropped by 7.75% from $2.07 to $1.91 in the trading on Friday March 24, 2023. The reason why HRTX stock down today is due to outlook for the next quarter.

• Heron reported Q4 results that beat estimates. The company's net loss narrowed to -$19.87 million, compared to -$54.65 million in Q4 2021. Net product sales grew +45.3% year-over-year to $30.03 million. Both top and bottom line surpassed analysts' expectations.
• Chairman and CEO Barry Quart sees slower growth of Zynrelef in Q1 2023 compared to Q4 due to decline in surgeries. Heron is seeking FDA approval to expand the label for Zynrelef, but there are concerns related to the time it takes to withdraw the product. The company is developing a new device design to address this issue.
• The company has also developed a vial access needle (VAN) that reduces the withdrawal time from minutes to about 30 seconds. Quart said that the company is still working on a prefilled syringe, but it will take a few years to develop.