U.S. District Court Issues Decision Regarding CINVANTI® Patents

Rhea-AI Summary

Heron Therapeutics (Nasdaq:HRTX) announced that the U.S. District Court for the District of Delaware ruled on patent litigation with Azurity regarding CINVANTI (aprepitant) injectable emulsion, holding asserted claims of U.S. Patent Nos. 12,115,255 and 12,290,520 invalid.

According to Heron, the decision does not affect prior settlement agreements related to CINVANTI or APONVIE. The company intends to appeal to the U.S. Court of Appeals for the Federal Circuit and states it will continue defending its intellectual property rights.

Positive

• Prior settlement agreements related to CINVANTI and APONVIE remain unaffected by the ruling
• Heron plans to appeal to the Federal Circuit, which specializes in patent disputes

Negative

• U.S. District Court held asserted claims of two CINVANTI patents invalid

News Market Reaction – HRTX

-45.60% 9.1x vol

70 alerts

-45.60% News Effect

-39.8% Trough in 11 hr 54 min

-$131M Valuation Impact

$156.57M Market Cap

9.1x Rel. Volume

On the day this news was published, HRTX declined 45.60%, reflecting a significant negative market reaction. Argus tracked a trough of -39.8% from its starting point during tracking. Our momentum scanner triggered 70 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $131M from the company's valuation, bringing the market cap to $156.57M at that time. Trading volume was exceptionally heavy at 9.1x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock dropped -45.6% in the session following this news. A negative reaction despite Heron’s sta...

Analysis

The stock dropped -45.6% in the session following this news. A negative reaction despite Heron’s stated intent to appeal fits a pattern where adverse fundamentals or franchise pressures, such as the Q1 2026 revenue decline, have previously driven aligned selloffs. The decision that key CINVANTI patent claims are invalid adds legal uncertainty on top of existing Oncology Supportive Care weakness. Investors would likely monitor the appeal to the Federal Circuit and consider the active S-3 shelf from 2025-09-09 when assessing longer-term risk.

Key Figures

U.S. Patent No.: 12,115,255 U.S. Patent No.: 12,290,520

2 metrics

U.S. Patent No. 12,115,255 CINVANTI patent claims held invalid in Delaware decision

U.S. Patent No. 12,290,520 CINVANTI patent claims held invalid in Delaware decision

Historical Context

5 past events · Latest: May 11 (Negative)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 11	Q1 2026 earnings	Negative	-21.1%	Q1 2026 revenue decline and mix shift toward Acute Care franchise.
Apr 27	Earnings call date	Neutral	+1.7%	Announcement of timing and access details for Q1 2026 results call.
Feb 26	FY 2025 earnings	Positive	+11.1%	Full-year 2025 net revenue growth and 2026 guidance introduction.
Feb 17	Earnings call date	Neutral	+3.5%	Scheduling of Q4 and full-year 2025 earnings call and webcast.
Jan 09	Prelim revenue update	Positive	+9.4%	Preliminary Q4 2025 revenue with strong ZYNRELEF and CINVANTI contributions.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

News on financial performance and product revenue has typically led to price moves aligned with the news tone, with both positive and negative updates producing corresponding reactions.

Recent Company History

Over the last six months, Heron’s key news flow has centered on revenue trends and franchise mix. Q4 and full-year 2025 results and preliminary Q4 2025 revenue, helped by ZYNRELEF and CINVANTI, were followed by positive share reactions. In contrast, Q1 2026 results showing lower net revenue and a shift away from Oncology Supportive Care coincided with a -21.05% move. Today’s CINVANTI patent decision adds legal risk on top of that revenue pressure, following earlier settlements referenced in recent earnings commentary.

Key Terms

aprepitant, injectable emulsion, patent litigation, U.S. District Court, +3 more

7 terms

aprepitant medical

"with respect to CINVANTI® (aprepitant) injectable emulsion, holding that"

Aprepitant is a prescription medicine that prevents severe nausea and vomiting by blocking a brain chemical that signals the body to feel sick, commonly used during chemotherapy or after surgery. For investors, its importance lies in how regulatory approvals, clinical trial results, market demand, patent protection and competition directly affect a drugmaker’s sales and valuation—think of it as a product whose success can noticeably change a company’s revenue stream.

injectable emulsion medical

"CINVANTI® (aprepitant) injectable emulsion, holding that the asserted"

An injectable emulsion is a liquid medicine made by mixing tiny droplets of one substance into another so they stay evenly distributed for injection into the body, like oil droplets suspended in water. Investors care because this form affects how a drug is stored, manufactured, regulated and delivered to patients—factors that influence production costs, supply reliability, regulatory approval complexity and marketability of a pharmaceutical product.

patent litigation regulatory

"decision in the patent litigation between Heron and Azurity"

A court fight over who has the legal right to make, use or sell a particular invention or product design. For investors it matters because the outcome can block sales, force royalty payments or open the door to wider market access, much like a disputed property line can prevent someone from building or selling on a plot of land and change the expected value of an investment.

U.S. District Court regulatory

"the U.S. District Court for the District of Delaware issued a decision"

A U.S. District Court is a federal trial court where civil and criminal cases under federal law are first heard and decided, similar to a neighborhood courthouse for matters that cross state lines or involve federal rules. Its decisions can directly affect companies by resolving disputes, imposing penalties, or issuing orders that change business operations, so outcomes often influence legal risk, costs and investor confidence.

United States Court of Appeals for the Federal Circuit regulatory

"appeal the decision to the United States Court of Appeals for the Federal Circuit"

A federal appeals court that reviews legal decisions from lower courts and certain federal agencies across the entire country, often acting like a national referee on specialized issues such as patents, government contracts, and federal claims. Its rulings can change whether a company keeps exclusive rights, wins or loses major contracts, or faces different liability, so investors watch its decisions because they can materially alter a company’s future revenue and legal risk.

equitable relief regulatory

"all available remedies, including equitable relief if necessary, as we continue"

Equitable relief is a court-ordered fix that requires someone to do something or stop doing something instead of just paying money, such as ordering a company to halt a transaction, return property, or complete a promised action. Investors care because these orders can immediately change a company's operations, block or enforce deals, or protect shareholder rights—think of a judge acting like a referee who can stop or force a play to keep the game fair, directly affecting value and risk.

intellectual property rights regulatory

"as we continue to defend our intellectual property rights,” said Craig"

Legal protections that give a company exclusive control over creations like inventions, brand names, designs, formulas, software and creative works, similar to owning the lock and key to a recipe or product design. For investors, these rights matter because they can create durable revenue streams, reduce competition and justify higher company value, while weak or contested rights increase the risk of lost sales and costly legal disputes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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After Reviewing the Ruling, Heron Believes It has Substantial Grounds for Obtaining Reversal in an Appeal

CARY, N.C., June 02, 2026 (GLOBE NEWSWIRE) -- Heron Therapeutics, Inc. (Nasdaq: HRTX) (“Heron” or the “Company”), a commercial-stage biotechnology company, today announced that the U.S. District Court for the District of Delaware issued a decision in the patent litigation between Heron and Azurity Pharmaceuticals, Inc., Azurity Pharmaceuticals India LLP f/k/a Slayback Pharma India LLP, and Slayback Pharma LLC (“Azurity”), with respect to CINVANTI^® (aprepitant) injectable emulsion, holding that the asserted claims of Company’s U.S. Patent Nos. 12,115,255 and 12,290,520 are invalid. This decision has no impact on any prior settlement agreement related to CINVANTI^® (aprepitant) injectable emulsion or APONVIE^® (aprepitant) injectable emulsion. Heron intends to appeal the decision to the United States Court of Appeals for the Federal Circuit, a court that specializes in patent disputes.

“We are disappointed with this initial result of the litigation and will vigorously pursue our appeal and all available remedies, including equitable relief if necessary, as we continue to defend our intellectual property rights,” said Craig Collard, Chief Executive Officer of Heron.

About Heron Therapeutics, Inc.

Heron Therapeutics, Inc. is a commercial-stage biotechnology company focused on improving the lives of patients by developing and commercializing therapeutic innovations that improve medical care. Our advanced science, patented technologies, and innovative approach to drug discovery and development have allowed us to create and commercialize a portfolio of products that aim to advance the standard-of-care for acute care and oncology patients. For more information, visit www.herontx.com.

Forward-looking Statements

This news release contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Heron cautions readers that forward-looking statements are based on management's expectations and assumptions as of the date of this news release and are subject to certain risks and uncertainties that could cause actual results to differ materially. Therefore, you should not place undue reliance on forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding whether Heron appeals the decision and Heron’s ability to obtain a stay of market entry. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in our other reports filed with the Securities and Exchange Commission, including under the caption “Risk Factors.” Forward-looking statements reflect our analysis only on their stated date, and Heron takes no obligation to update or revise these statements except as may be required by law.

Investor Relations and Media Contact:

Ira Duarte
Executive Vice President, Chief Financial Officer
Heron Therapeutics, Inc.
iduarte@herontx.com
858-251-4400

FAQ

What did the U.S. District Court decide about Heron Therapeutics (HRTX) CINVANTI patents on June 2, 2026?

The court held asserted claims of two CINVANTI patents invalid. According to Heron, the Delaware U.S. District Court ruled against U.S. Patent Nos. 12,115,255 and 12,290,520 in litigation with Azurity involving CINVANTI injectable emulsion.

Does the June 2026 CINVANTI patent ruling affect prior Heron (HRTX) settlement agreements?

Heron states the ruling does not impact prior settlements. According to Heron, existing settlement agreements related to CINVANTI injectable emulsion and APONVIE injectable emulsion remain in place and are unaffected by the Delaware U.S. District Court decision.

How will Heron Therapeutics (HRTX) respond to the CINVANTI patent decision?

Heron plans to appeal the decision. According to Heron, the company believes it has substantial grounds for reversal and will take its CINVANTI patent case to the U.S. Court of Appeals for the Federal Circuit.

Which Heron Therapeutics (HRTX) patents were found invalid in the CINVANTI case?

Asserted claims from two U.S. patents were held invalid. According to Heron, the Delaware U.S. District Court decision concerns U.S. Patent Nos. 12,115,255 and 12,290,520, both related to CINVANTI (aprepitant) injectable emulsion.

What court will hear Heron Therapeutics (HRTX) appeal in the CINVANTI patent dispute?

Heron plans to appeal to the U.S. Court of Appeals for the Federal Circuit. According to Heron, this appellate court specializes in patent disputes and will review the Delaware U.S. District Court decision on the CINVANTI patents.

How does Heron Therapeutics (HRTX) describe its stance after the CINVANTI patent ruling?

Heron says it is disappointed but will vigorously pursue an appeal. According to Heron, the company will seek all available remedies, including equitable relief if needed, as it continues to defend its CINVANTI-related intellectual property rights.