Heron Therapeutics Inc Stock Price, News & Analysis

Heron Therapeutics (Nasdaq: HRTX) announced significant changes to its commercial leadership on April 20, 2023. Jason Grillot will take over as Vice President of Sales and Marketing, Acute Care, starting April 24, 2023. Grillot has over 20 years of experience in hospital sales, most recently with CHIESI USA. Meanwhile, John Poyhonen and Michael Mathews will depart from their roles by April 30, 2023. CEO Craig Collard will supervise the commercial team post-departures. The company aims to enhance its acute care franchise, focusing on the potential of its products ZYNRELEF and APONVIE to address postoperative pain and nausea. As part of his compensation, Grillot will receive options for 350,000 shares of common stock. Heron continues to develop innovations in patient care within the biotechnology sector.

Heron Therapeutics (NASDAQ: HRTX) announced that CEO Craig Collard will participate in a fireside chat at the 22nd Annual Needham Virtual Healthcare Conference on April 20, 2023, at 11:45 AM ET. The conference, held from April 17-20, will be virtual, allowing broader access for investors and stakeholders. A live webcast of the event will be available on Heron's website in the Investor Resources section. Heron Therapeutics is focused on developing innovative treatments for unmet patient needs in oncology and acute care, highlighting the company’s commitment to advancing the standard of care. Further details can be accessed through their official website.

Heron Therapeutics (NASDAQ: HRTX) announced the appointment of Craig Collard as the new Chief Executive Officer, effective immediately. He succeeds Barry Quart, who has stepped down from both the CEO and Chairman roles. Adam Morgan has been elected as the new Chairman of the Board. Collard brings over 30 years of experience in the pharmaceutical industry, having previously led Veloxis Pharmaceutics. This leadership change is aimed at enhancing the company's focus on commercialization in acute care and oncology products. The board has committed to strong corporate governance by separating the roles of CEO and Chairman, while also reducing the board's size to seven members.

Heron Therapeutics reported a 25% growth in annual net product sales, reaching $107.7 million in 2022. The company launched APONVIE in March 2023 and saw fourth-quarter sales of ZYNRELEF rise 44% to $3.9 million. Notably, oncology care franchise sales increased by 17% to $97.5 million. Although net loss narrowed to $19.9 million in Q4 2022 from $54.6 million in Q4 2021, cash reserves decreased to $84.9 million from $157.6 million. Heron expects ongoing growth in 2023, projecting oncology care sales between $99 million and $103 million.

Heron Therapeutics, Inc. (Nasdaq: HRTX) announced that the Centers for Medicare & Medicaid Services (CMS) has granted transitional pass-through status for its injectable emulsion, APONVIE, effective April 1, 2023. This approval allows APONVIE to be reimbursed separately from the surgical bundle payment in hospital outpatient departments (HOPD) and ambulatory surgical centers (ASC) at Average Sales Price +6%. The pass-through status aims to enhance patient access and streamline billing for outpatient surgeries, given that over 70% of surgeries occur in these settings. APONVIE is specifically indicated for preventing postoperative nausea and vomiting (PONV) in adults, further solidifying its market position.

Heron Therapeutics, Inc. (Nasdaq: HRTX) will host a conference call and live webcast on March 23, 2023, at 4:30 p.m. ET to report its fourth quarter and full year 2022 financial results along with recent business highlights. Investors can access the call by dialing (646) 307-1963 or (800) 715-9871 internationally, using passcode 7469717. A webcast will also be available on the company's website, with an archive accessible for 60 days post-call. Heron focuses on developing innovative treatments addressing significant unmet patient needs, particularly in acute care and oncology.