Heron Therapeutics Files Q3 2024 10-Q Report

TL;DR

**HERON THERAPEUTICS (HRTX) Q3 2024 10-Q FILED - CHECK FINANCIALS**

AI Summary

Heron Therapeutics, Inc. reported its third-quarter results for the period ending September 30, 2024. The company's financial statements and disclosures are detailed in this 10-Q filing. Key financial data and operational updates are provided for the quarter.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Heron Therapeutics, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Heron Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-09-30 — Reporting Period End Date (The end date for the financial reporting period covered by the 10-Q.)
• 2023-12-31 — Prior Year End Date (A reference point for comparative financial analysis.)
• 2022-12-31 — Earlier Prior Year End Date (Another reference point for longer-term financial comparison.)
• 2023-03-31 — Prior Year Quarter End Date (A reference point for comparative financial analysis of prior quarters.)
• 2023-09-30 — Prior Year Quarter End Date (A reference point for comparative financial analysis of prior quarters.)

Key Players & Entities

• HERON THERAPEUTICS, INC. /DE/ (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 4242 CAMPUS POINT COURT, SUITE 200 (address) — Business and Mail Address
• SAN DIEGO (location) — City
• CA (state) — State
• 92121 (zip_code) — Zip Code
• 8582514400 (phone_number) — Business Phone
• AP PHARMA INC /DE/ (company) — Former Company Name
• ADVANCED POLYMER SYSTEMS INC /DE/ (company) — Former Company Name
• 20010511 (date) — Date of Name Change

FAQ

Key Financial Figures

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

Filing Documents

• hrtx-20240930.htm (10-Q) — 1534KB
• hrtx-ex10_1.htm (EX-10.1) — 30KB
• hrtx-ex10_2.htm (EX-10.2) — 21KB
• hrtx-ex31_1.htm (EX-31.1) — 16KB
• hrtx-ex31_2.htm (EX-31.2) — 15KB
• hrtx-ex32_1.htm (EX-32.1) — 16KB
• 0000950170-24-124698.txt ( ) — 7004KB
• hrtx-20240930.xsd (EX-101.SCH) — 912KB
• hrtx-20240930_htm.xml (XML) — 1308KB

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) September 30, 2024 December 31, 2023 (Unaudited) (See Note 2) ASSETS Current assets: Cash and cash equivalents $ 25,741 $ 28,677 Short-term investments 45,149 51,732 Accounts receivable, net 67,039 60,137 Inventory 45,950 42,110 Prepaid expenses and other current assets 11,308 6,118 Total current assets 195,187 188,774 Property and equipment, net 15,414 20,166 Right-of-use lease assets 3,469 5,438 Other assets 6,707 8,128 Total assets $ 220,777 $ 222,506 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 10,188 $ 3,240 Accrued clinical and manufacturing liabilities 22,859 22,291 Accrued payroll and employee liabilities 8,531 9,224 Other accrued liabilities 40,717 41,855 Current lease liabilities 3,249 3,075 Total current liabilities 85,544 79,685 Non-current lease liabilities 522 2,800 Non-current notes payable, net 24,828 24,263 Non-current convertible notes payable, net 149,647 149,490 Other non-current liabilities 241 241 Total liabilities 260,782 256,479 Stockholders' deficit: Common stock 1,517 1,503 Additional paid-in capital 1,881,695 1,870,525 Accumulated other comprehensive income 40 13 Accumulated deficit ( 1,923,257 ) ( 1,906,014 ) Total stockholders' deficit ( 40,005 ) ( 33,973 ) Total liabilities and stockholders' deficit $ 220,777 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Net product sales $ 32,810 $ 31,434 $ 103,504