Key Points – Second-quarter net revenue rose to $37.7 million, but sales of key products fell short of management’s expectations.
ZYNRELEF sales increased 35% year over year to $11.1 million, APONVIE sales rose 74% to approximately $4.2 million, while CINVANTI sales declined 10% to $21.8 million. – A Delaware court ruling involving CINVANTI patents increased the risk of generic competition
Heron appealed, amended its credit facility, made a $13.5 million principal payment, paused planned salesforce expansion and withdrew its 2026 financial guidance. – Heron ended the quarter with $42.7 million in cash and investments, but pro forma cash fell to about $28.5 million after the debt payment. The company is evaluating strategic alternatives and will provide quarterly updates on cash, spending and covenant compliance. Heron Therapeutics (NASDAQ:HRTX) reported second-quarter net revenue of $37.7 million, up from $34.7 million in the first quarter and $37.2 million in the comparable prior-year period, while management said sales of its key products came in below its internal expectations.
Chief Executive Officer Craig Collard said the company’s acute-care franchise grew 44% year over year, led by growth in postoperative pain treatment ZYNRELEF and anti-nausea product APONVIE. However, he said both products expanded more slowly than the company had anticipated. Oncology product CINVANTI posted sequential sales growth but remained down from a year earlier amid branded competition.