HERON THERAPEUTICS, INC. /DE/ (HRTX) Company Report

Heron Therapeutics generated $38.2 million in Net Revenue for Q3 2025 and $114.3 million year-to-date.
ZYNRELEF Net Sales reached $9.3 million, a 49% year-over-year increase, and APONVIE Net Sales were $3.0 million, up 173% year-over-year in Q3 2025.
The company reported $1.5 million in Adjusted EBITDA for Q3 2025 and $9.5 million year-to-date.
Heron Therapeutics reiterated its 2025 Adjusted EBITDA guidance of $9.0 million to $13.0 million.

Nov 4, 2025, 1:30 PM

Heron Therapeutics Reports Q3 2025 Financial Results with Strong Product Growth and Reaffirms Full-Year Guidance

HRTX

Earnings

Guidance Update

Revenue Acceleration/Inflection

Heron Therapeutics reported total net revenues of $38.2 million for Q3 2025 and $114.3 million year to date, with an adjusted EBITDA of $1.5 million for the quarter and $9.5 million year to date.
The company experienced a net loss of $17.5 million in Q3 2025, primarily due to an $11.3 million loss on debt extinguishment, and ended the quarter with $55.5 million in cash and short-term investments.
ZYNRELEF net sales grew 49% year over year to $9.3 million in Q3 2025, and APONVIE net sales increased 173% year over year to $3 million.
The J-code for ZYNRELEF went into effect on October 1, and the company plans to wind down commercialization of SUSTOL over the next 12 months due to increased market competition.
Heron Therapeutics reaffirmed its full-year net revenue guidance of $153 million-$163 million and adjusted EBITDA guidance of $9 million-$30 million.

Nov 4, 2025, 1:30 PM

Heron Therapeutics Announces Q3 2025 Financial Results and Reaffirms 2025 Guidance

HRTX

Earnings

Guidance Update

Product Launch

Heron Therapeutics reported Q3 2025 Net Revenue of $38.2 million and year-to-date revenue of $114.3 million, while reaffirming its 2025 Net Revenue Guidance of $153 million - $163 million and Adjusted EBITDA guidance of $9.0 million - $13.0 million.
ZYNRELEF Net Revenue grew 49% in Q3 2025 compared to Q3 2024, with the launch of the Vial Access Needle (VAN) completed and a permanent J-code effective October 1, 2025.
APONVIE Net Revenue increased 173% in Q3 2025 compared to Q3 2024, supported by increased adoption and the launch of a dedicated sales team.
The company's Acute Care franchise delivered 67.2% year-over-year revenue growth in Q3 2025.
As of September 30, 2025, Heron Therapeutics held $55.5 million in cash, cash equivalents, and short-term investments.

Nov 4, 2025, 1:00 PM

Heron Therapeutics Announces Q3 2025 Financial Results and Reaffirms 2025 Guidance

HRTX

Earnings

Guidance Update

Revenue Acceleration/Inflection

Heron Therapeutics reported Q3 2025 Net Revenue of $38.2 million and year-to-date Net Revenue of $114.3 million. The company reaffirmed its 2025 Net Revenue Guidance of $153 million - $163 million and Adjusted EBITDA guidance of $9.0 - $13.0 million.
The company experienced significant product growth in Q3 2025, with ZYNRELEF Net Revenue increasing by 49% compared to Q3 2024, and APONVIE Net Revenue growing by 173% compared to Q3 2024. The Acute Care franchise revenue grew 67.2% year-over-year in Q3 2025.
For the three months ended September 30, 2025, Heron Therapeutics reported a Net Loss of $17.5 million and Adjusted EBITDA of $1.5 million.
As of September 30, 2025, cash, cash equivalents, and short-term investments totaled $55.5 million.