Key Points – Heron reaffirmed its full-year 2026 outlook despite a weak first quarter, with net product sales of $34.7 million and adjusted EBITDA of negative $727,000.
Management said seasonal issues, winter weather, and temporary supplier-related margin pressure were the main drags, and expects conditions to improve through the year. – Acute care products drove growth, with the portfolio up 32% year over year
ZYNRELEF and APONVIE both posted strong demand gains, helped by improving reimbursement dynamics, expanded account coverage, and the rollout of Heron’s Ignite incentive program. – CINVANTI held up in a competitive market, maintaining a 25% exit share in the NK1 category while Heron works to expand hospital access through its REIGNITE program. The company also said new account wins could add more than $10 million in annualized net revenue. Heron Therapeutics (NASDAQ:HRTX) said first-quarter 2026 results were pressured by seasonal factors and severe winter weather, but management reaffirmed its full-year outlook and pointed to improving momentum exiting the quarter.
Chief Executive Officer Craig Collard said the company entered 2026 with “tremendous momentum” following a strong fourth quarter, but January was affected by co-pay resets, insurance adjustments and two weeks of severe weather that disrupted elective surgeries. Collard described January as “our most difficult month since I joined the company,” while emphasizing that March net sales exceeded $15 million. “The breadth of this industry-wide impact validates that the headwinds we faced were external and temporary in nature, not reflective of any underlying weakness in our business or markets,” Collard said. He added that Heron expects deferred elective procedures to be rescheduled through the remainder of 2026.