Welcome to our dedicated page for Heron Therapeutics SEC filings (Ticker: HRTX), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Heron Therapeutics, Inc. filings document financial results, governance matters, executive compensation arrangements, and capital-structure actions for a commercial-stage biotechnology company. Recent Form 8-K reports furnish quarterly and annual operating results, preliminary revenue disclosures, business updates for the Acute Care franchise, and material corporate events.
Proxy and governance filings cover director elections, board committee matters, executive pay, equity-award disclosure, and stockholder voting. Other filings record amendments to employment and change-in-control provisions, board appointments, and stockholder approvals tied to potential common-stock issuance from convertible senior unsecured promissory notes and Series A Convertible Preferred Stock.
Heron Therapeutics reported full-year 2025 net revenue of $154.9 million, up 7.4% from 2024, driven by rapid growth in its Acute Care franchise. Acute Care revenue rose 65.1% year-over-year to $49.6 million, including strong gains from ZYNRELEF and APONVIE, while Oncology revenue declined 7.8% to $105.3 million.
The company narrowed its loss from operations to $2.5 million in 2025 and improved adjusted EBITDA to $14.7 million from $6.4 million, reflecting better profitability despite a net loss of $20.2 million. Heron ended 2025 with $46.6 million in cash, cash equivalents, and short-term investments and guided 2026 net revenue to $173–$183 million with adjusted EBITDA of $10–$20 million.
Operationally, ZYNRELEF and APONVIE benefited from permanent CMS J-Codes and broader clinical recognition, supporting continued adoption. Management highlighted momentum entering 2026, pointing to expanding demand signals, improved reimbursement clarity, and a stronger commercial engine across Acute Care and Oncology products.
Clearline Capital LP and related filers reported a significant passive stake in Heron Therapeutics, Inc. They disclosed beneficial ownership of 12,235,239 shares of Heron common stock, representing 6.7% of the outstanding shares.
The ownership percentage is based on 183,362,522 shares of common stock reported as issued and outstanding as of October 30, 2025 in Heron’s Form 10-Q. The shares are held with shared voting and dispositive power among Clearline Capital LP, Clearline Capital LLC and Marc Majzner, with no sole voting or dispositive power reported.
The filers certify the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Heron Therapeutics, consistent with a passive Schedule 13G/A filing.
Heron Therapeutics Chief Executive Officer Craig A. Collard reported new equity awards. On January 30, 2026, he received 800,337 restricted stock units (RSUs), which each convert into one share of common stock and vest in 16 equal quarterly installments starting one quarter after the grant date.
He was also granted 800,336 performance stock units (PSUs), each convertible into one share of common stock. These PSUs vest on the same 16-quarter schedule, but only to the extent a milestone is met based on a net product sales revenue target for the fiscal year ending December 31, 2026, as reported in the company’s Form 10-K.
Heron Therapeutics director Christian Waage received a new equity award in the form of restricted stock units. On January 30, 2026, he was granted 53,960 shares of common stock at a price of $0 per share.
The award was structured as restricted stock units that vest in full on January 30, 2027, with each unit representing the right to receive one share of common stock. Following this grant, Waage beneficially owned 53,960 shares directly.
Heron Therapeutics, Inc. director Michael Kaseta reported an equity award. On January 30, 2026, he received 53,960 shares of common stock in the form of restricted stock units at a price of $0 per share. These units vest in full on January 30, 2027, with each unit delivering one share. Following this grant, he beneficially owns 53,960 shares directly.
Heron Therapeutics EVP and CFO Ira Duarte received new equity awards. On January 30, 2026, Duarte was granted 216,562 restricted stock units (RSUs) and 216,561 performance stock units (PSUs), each convertible into common stock on a one-for-one basis.
The RSUs vest in 16 equal quarterly installments starting one quarter after the grant date. The PSUs follow the same quarterly schedule but also depend on achieving a net product sales revenue target for fiscal 2026 as reported in the company’s Form 10-K.
Heron Therapeutics director Craig A. Johnson received a grant of 53,960 shares of common stock in the form of restricted stock units. The grant was made on January 30, 2026 at a price of $0 per share, reflecting an equity award rather than an open-market purchase.
The restricted stock units vest in full on January 30, 2027, at which point each unit will convert into one share of common stock. After this grant, Johnson is reported as directly beneficially owning 53,960 shares of Heron Therapeutics common stock.
Heron Therapeutics director Thomas Cusack received an equity award of 53,960 shares of common stock on January 30, 2026. The award was granted as restricted stock units at a price of $0 per share, bringing his directly owned holdings to 53,960 shares.
The restricted stock units vest in full on January 30, 2027, and each unit represents a contingent right to receive one share of Heron Therapeutics common stock once vested. This reflects stock-based director compensation rather than an open‑market purchase.
Heron Therapeutics executive William P. Forbes reported new equity awards. On January 30, 2026, the EVP and Chief Development Officer received 188,315 restricted stock units and 188,314 performance stock units, both at a price of $0 per unit and held directly.
The RSUs convert into common stock on a one-for-one basis and vest in 16 equal quarterly installments starting one quarter after the grant date. The PSUs also vest in 16 equal quarterly installments, but only if a net product sales revenue target for the fiscal year ending December 31, 2026, as reported in the company’s Form 10-K, is achieved.
Heron Therapeutics director Sharmila Dissanaike received a grant of 53,960 restricted stock units of common stock. The units were awarded at a price of $0 per share, so she did not pay cash for this equity grant.
The award vests in full on January 30, 2027. Each restricted stock unit represents the right to receive one share of Heron Therapeutics common stock when it vests, giving her 53,960 shares beneficially owned directly after the grant.