Heron Therapeutics Files Q2 2024 10-Q

TL;DR

**HERON THERAPEUTICS (HRTX) FILED Q2 10-Q - CHECK FINANCIALS**

AI Summary

Heron Therapeutics, Inc. filed its Q2 2024 10-Q report on August 6, 2024, detailing its financial performance for the quarter ending June 30, 2024. The company's financial statements reflect its ongoing operations in the pharmaceutical sector. Key financial data and operational updates are provided for investors and stakeholders.

Why It Matters

This filing provides crucial financial and operational insights into Heron Therapeutics' performance, impacting investor decisions and market perception of the company's pharmaceutical products.

Risk Assessment

Risk Level: medium — The company operates in the highly regulated and competitive pharmaceutical industry, facing risks related to drug development, market adoption, and financial performance.

Key Numbers

• Q2 2024 — Reporting Period (The second quarter of 2024, ending June 30, 2024, for which financial results are reported.)
• 20240806 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)

Key Players & Entities

• HERON THERAPEUTICS, INC. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period for the 10-Q
• 20240806 (date) — Filing date of the 10-Q
• SAN DIEGO, CA (location) — Company's business and mailing address
• AP PHARMA INC /DE/ (company) — Former company name
• ADVANCED POLYMER SYSTEMS INC /DE/ (company) — Former company name
• hrtx:CINVANTIMember (product) — Mentioned in relation to financial reporting periods

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share HRTX The Nasdaq Capital M

Filing Documents

• hrtx-20240630.htm (10-Q) — 1398KB
• hrtx-ex31_1.htm (EX-31.1) — 15KB
• hrtx-ex31_2.htm (EX-31.2) — 15KB
• hrtx-ex32_1.htm (EX-32.1) — 16KB
• 0000950170-24-091764.txt ( ) — 6621KB
• hrtx-20240630.xsd (EX-101.SCH) — 917KB
• hrtx-20240630_htm.xml (XML) — 1267KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 26 ITEM 4.

Controls and Procedures

Controls and Procedures 26 PART II. OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 27 ITEM 1A.

Risk Factors

Risk Factors 28 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 ITEM 3. Defaults upon Senior Securities 30 ITEM 4. Mine Safety Disclosures 30 ITEM 5. Other Information 30 ITEM 6. Exhibits 31

SIGNATURES

SIGNATURES 32 1

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

CONDENSED CONSOL IDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOL IDATED FINANCIAL STATEMENTS HERON THERAPEUTICS, INC. Condensed Consolida ted Balance Sheets (In thousands) June 30, 2024 December 31, 2023 (Unaudited) (See Note 2) ASSETS Current assets: Cash and cash equivalents $ 18,386 $ 28,677 Short-term investments 48,961 51,732 Accounts receivable, net 73,708 60,137 Inventory 42,864 42,110 Prepaid expenses and other current assets 7,249 6,118 Total current assets 191,168 188,774 Property and equipment, net 15,900 20,166 Right-of-use lease assets 4,138 5,438 Other assets 6,930 8,128 Total assets $ 218,136 $ 222,506 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 10,226 $ 3,240 Accrued clinical and manufacturing liabilities 17,554 22,291 Accrued payroll and employee liabilities 7,085 9,224 Other accrued liabilities 42,258 41,855 Current lease liabilities 3,194 3,075 Total current liabilities 80,317 79,685 Non-current lease liabilities 1,289 2,800 Non-current notes payable, net 24,634 24,263 Non-current convertible notes payable, net 149,595 149,490 Other non-current liabilities 241 241 Total liabilities 256,076 256,479 Stockholders' deficit: Common stock 1,516 1,503 Additional paid-in capital 1,878,961 1,870,525 Accumulated other comprehensive (loss) income ( 8 ) 13 Accumulated deficit ( 1,918,409 ) ( 1,906,014 ) Total stockholders' deficit ( 37,940 ) ( 33,973 ) Total liabilities and stockholders' deficit $ 218,136 $ 222,506 See accompanying notes. 2 HERON THERAPEUTICS, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (In thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: Net product sales $ 36,024 $ 31,762 $ 70,694 $