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6Material company update
May 11, 2026·SEC
Material company update
Apr 6, 2026·SEC
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Feb 26, 2026·SEC
Heron Therapeutics, Inc.(HRTX)Earnings, Financials & Key Ratios
HRTX•NASDAQ
$0.43
Price updated Jul 7, 2026
AboutHeron Therapeutics, Inc., a biotechnology company, engages in developing treatments to address unmet patient needs. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration. It offers SUSTOL (granisetron), an extended-release injection for the prevention of acute and delayed nausea and vomiting associated with moderately emetogenic chemotherapy, or anthracycline and cyclophosphamide combination chemotherapy regimens; and CINVANTI, an intravenous formulation of aprepitant, a substance P/neurokinin-1 receptor antagonist for the prevention of acute and delayed nausea and vomiting associated with highly emetogenic cancer chemotherapy, as well as nausea and vomiting associated with moderately emetogenic cancer chemotherapy. The company is also developing ZYNRELEF, a dual-acting local anesthetic that delivers a fixed-dose combination of the local anesthetic bupivacaine and a low dose of the nonsteroidal anti-inflammatory drug meloxicam; HTX-019, an investigational agent for the prevention of postoperative nausea and vomiting; and HTX-034 for postoperative pain management, as well as is in Phase Ib/II clinical study in patients undergoing bunionectomy. The company was formerly known as A.P. Pharma, Inc. and changed its name to Heron Therapeutics, Inc. in January 2014. Heron Therapeutics, Inc. was founded in 1983 and is headquartered in San Diego, California.Show more
- Revenue$155M+7.4%
- EBITDA-$224K+97.5%
- Net Income-$20M-48.7%
- EPS (Diluted)-0.12-34.7%
- Gross Margin73.31%+0.1%
- EBITDA Margin-0.14%+97.7%
- Operating Margin-1.64%+79.5%
- Net Margin-13.04%-38.5%
- ROE-140.9%
HRTX Price & Volume
Heron Therapeutics, Inc. (HRTX) stock price & volume — 10-year historical chart
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Stagnant Revenue Growth Masks Persistent Liquidity Risks
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Decelerating
Profitability:Strained
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Liquidity and solvency pressure
Key Thesis Takeaways
- Heron Therapeutics faces a challenging outlook characterized by decelerating revenue growth, which contracted 10.8% year-over-year in 2026Q1, and an inability to achieve consistent operating leverage despite high SG&A expenses of $26.5M.
- The company's reliance on debt financing, evidenced by a 15.50 debt-to-equity ratio, combined with a narrowing cash position of $26.1M, suggests significant solvency pressure.
- Investors should monitor the company's ability to stabilize its commercial footprint, as the current trajectory of negative free cash flow and recurring net losses may necessitate further dilutive capital raises.
Verdict Logic
the company's precarious liquidity profile, underscored by a $26.1M cash balance against ongoing quarterly operating losses of $4.8M, presents a high risk of shareholder dilution.
HRTX Growth Metrics
Heron Therapeutics, Inc. (HRTX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years11.81%
3 Years12.89%
TTM1.48%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-297.44%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-271.9%
Return on Capital
10 Years-92.87%
5 Years-51.43%
3 Years-26.94%
Last Year-1.68%
HRTX Recent Earnings
Heron Therapeutics, Inc. (HRTX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 11, 2026Metric
Actual
Est
EPS
$0.04-33.3%
$0.03
Rev
$35M-5.5%
$37M
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$0.02+33.3%
$0.03
Rev
$41M+1.8%
$40M
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.05-275.1%
$0.01
Rev
$38M-2.1%
$39M
Q3 2025
Aug 8, 2025Metric
Actual
Est
EPS
$0.02-100.0%
$0.01
Rev
$37M-4.8%
$39M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 11, 2026 | $0.04vs $0.03-33.3% | $35Mvs $37M-5.5% |
| Q1 2026 | Feb 26, 2026 | $0.02vs $0.03+33.3% | $41Mvs $40M+1.8% |
| Q4 2025 | Nov 4, 2025 | $0.05vs $0.01-275.1% | $38Mvs $39M-2.1% |
| Q3 2025 | Aug 8, 2025 | $0.02vs $0.01-100.0% | $37Mvs $39M-4.8% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Heron Therapeutics, Inc. (HRTX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $0.43 | $67.24M | -3.55 | 7.36% | -13.04% | -140.9% | — | |
| $1.56 | $484.54M | -0.86 | 3.89% | -80.34% | -488.45% | — | |
| $25.82 | $1.02B | 161.38 | 3.63% | 1.27% | 1.31% | — | |
| $5.62 | $677.74M | -10.60 | -58.19% | -832.58% | -55.89% | — | |
| $247.72 | $15.54B | -42.42 | 4.88% | 0.66% | 0.71% | — | |
| $545.36 | $12.57B | -42.44 | 432.05% | -27.32% | -50.15% | — |
Compare HRTX vs Peers
Heron Therapeutics, Inc. (HRTX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HRTX SEC Filings & Documents
Heron Therapeutics, Inc. (HRTX) SEC filings — annual & quarterly reports (10-K, 10-Q)
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HRTX Frequently Asked Questions
Heron Therapeutics, Inc. (HRTX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Heron Therapeutics, Inc.'s revenue?
Heron Therapeutics, Inc. (HRTX) reported $150.7M in revenue for fiscal year 2025. This represents a 706% increase from $18.7M in 1996.
How fast is Heron Therapeutics, Inc. growing?
Heron Therapeutics, Inc. (HRTX) grew revenue by 7.4% over the past year. This is steady growth.
Is HRTX profitable?
Heron Therapeutics, Inc. (HRTX) reported a net loss of $30.9M for fiscal year 2025.
Dividend & Returns
What is HRTX's return on equity?
Heron Therapeutics, Inc. (HRTX) has a return on equity (ROE) of -140.9%. Negative ROE indicates the company is unprofitable.
What is Heron Therapeutics, Inc.'s free cash flow?
Heron Therapeutics, Inc. (HRTX) had negative free cash flow of $20.9M in fiscal year 2025, likely due to heavy capital investments.