HRTX Stock — Heron Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a commercial-stage biotechnology company focused on improving the lives of patients by developing and commercializing therapeutic innovations that improve medical care. Our advanced science, patented technologies, and innovative approach to drug discovery and development have allowed us to create and commercialize a portfolio of products that aim to advance the standard of care for acute care and oncology patients.

Source: 10-K FY2025 via SEC EDGAR

Share price

$0.29

Market cap

$55.6M

Cash

$42.7M

Enterprise value

$12.9M

Balance sheet

Cash	$42.7M
Debt	$0.0M
Net cash	$42.7M
Enterprise value	$12.9M
Basic shares	189.9M shares
Fully diluted shares	243.0M shares
Fully diluted market cap	$70.5M
Cash per share	$0.22
Quarterly burn	$2.2M
Cash runway	19.3 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

189.9M

Pre-funded warrants

0.0M

Options

28.7M

RSUs

3.8M

Warrants

0.3M

Converts

19.4M

Conv preferred

0.7M

ESPP reserve

0.2M

FDSO

243.0M

Cap table as of 2026-08-05.

Price history

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Upcoming catalysts

No upcoming catalysts on file for this company.

Full readout calendar →

Pipeline assets

ZYNRELEF

Approved · Active Modality: extended-release solution

Partnerships CrossLink Network (exclusive U.S. co-promoter for ZYNRELEF, January 2024)

Indications

Postsurgical analgesia up to 72 hours after soft tissue and orthopedic surgical procedures (Approved)

Status note Bupivacaine and meloxicam extended-release solution; FDA approved May 2021 with indication expansions December 2021 and January 2024. CMS approved a new permanent J-code effective October 1, 2025.

APONVIE

Approved · Active Modality: injectable emulsion

Target NK1 receptor (substance P/neurokinin-1)

Indications

Postoperative nausea and vomiting (PONV) in adults (Approved)

Status note IV aprepitant; FDA approved September 2022, U.S. commercial launch March 2023. CMS approved a new permanent J-code effective April 1, 2026.

CINVANTI

Approved · Active Modality: injectable emulsion

Target NK1 receptor (substance P/neurokinin-1)

Indications

Prevention of acute and delayed chemotherapy-induced nausea and vomiting (CINV) (Approved)

Status note IV aprepitant; FDA approved November 2017, U.S. commercial launch January 2018. Subject to multiple Paragraph IV generic challenges (Mylan, Fresenius Kabi, Azurity/Slayback, Baxter, Long Grove).

SUSTOL

Approved · Active Modality: extended-release injection (Biochronomer technology)

Target 5-HT3 receptor

Indications

Prevention of acute and delayed nausea and vomiting with MEC and AC chemotherapy regimens (Approved)

Status note Granisetron extended-release injection; FDA approved August 2016, U.S. commercial launch October 2016. Company stated it would notify FDA if it decides to recommence commercial marketing and sale.

Per-asset detail extracted from the 10-Q filed 2026-08-10. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Bupivacaine Hydrochloride
Lead indication	Analgesia
Lead phase	Phase 4
Active trials	0
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07639723	Not disclosed	Not yet recruiting	Collaborator	Endeavor Health	—	PONV	—

Sponsor-matched active trials from ClinicalTrials.gov (0 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Endeavor Health on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Tang Capital Partners	6,250,000	no change	0.12%	2026-08-14
Stonepine Capital	490,787	-911,404	0.16%	2026-08-17
OrbiMed Advisors	0	-9,816,940	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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HRTX — Heron Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

HRTX — Heron Therapeutics Inc.