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Heron Therapeutics reports Q3 EPS (38c), consensus (38c)

Reports Q3 revenue $26.56M, consensus $26.96M. As of September 30, Heron had cash, cash equivalents and short-term investments of $121.7M, compared to $157.6M as of December 31, 2021. "Approval of APONVIE expands our acute care franchise to cover the two most common concerns of patients and clinicians after surgery, pain and PONV. We are gratified to see improved growth of ZYNRELEF in October following the slower than anticipated growth in the third quarter, which coincided with a greater than 10% decline in indicated surgical procedures," said Barry Quart, CEO. "Our oncology care franchise reported solid net product sales of $23.9M for the Q3 and we remain on track to achieve our FY22 guidance of $93M to $95M. In addition, we strengthened our balance sheet with a $75M private placement to advance our commercial franchises and extend our runway against a challenging external backdrop."

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