Rubric Capital Boosts Heron Therapeutics Stake to 10.4%

TL;DR

Rubric Capital now owns 10.4% of Heron Therapeutics (15M shares) as of 5/31/24.

AI Summary

Rubric Capital Management LP, on May 31, 2024, filed an amendment to its Schedule 13D, disclosing a beneficial ownership of 10.4% of Heron Therapeutics, Inc. common stock. This filing indicates a significant stake in the company, with Rubric Capital holding 15,000,000 shares.

Why It Matters

This filing signals increased activist investor interest in Heron Therapeutics, potentially leading to changes in company strategy or board composition.

Risk Assessment

Risk Level: medium — Significant stake increases by activist investors can lead to volatility and potential strategic shifts in the company.

Key Numbers

• 10.4% — Ownership Stake (Rubric Capital's beneficial ownership in Heron Therapeutics.)
• 15,000,000 — Shares Owned (The total number of Heron Therapeutics shares held by Rubric Capital.)

Key Players & Entities

• Rubric Capital Management LP (company) — Filing entity
• Heron Therapeutics, Inc. (company) — Subject company
• 10.4% (percentage) — Beneficial ownership stake
• 15,000,000 (number) — Number of shares owned
• May 31, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• sc13da313715002_05312024.htm (SC 13D/A) — 64KB
• 0000921895-24-001343.txt ( ) — 66KB

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . Items 5(a) and (c) are hereby amended and restated to read as follows: (a) The aggregate percentage of Shares reported owned by each person named herein is based upon 150,653,158 Shares outstanding as of May 2, 2024, which is the total number of Shares outstanding as reported in the Issuer’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2024. As of the date hereof, Rubric Capital and Mr. Rosen may be deemed to beneficially own the 26,713,503 Shares, constituting approximately 17.7% of the Shares outstanding, held in the aggregate by the Rubric Funds. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Exchange Act, the beneficial owners of any securities of the Issuer he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own. (c) There have been no transactions in securities of the Issuer by the Reporting Persons during the past 60 days nor since the filing of Amendment No. 2 to the Schedule 13D. 4 CUSIP No. 427746102

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: May 31, 2024 Rubric Capital Management LP By: Rubric Capital Management GP LLC General Partner By: /s/ David Rosen Name: David Rosen Title: Managing Member /s/ David Rosen David Rosen 5