Core Insights - Heron Therapeutics reported revenue of $40.59 million for the quarter ended December 2025, reflecting a year-over-year decline of 0.5% and an EPS of -$0.02 compared to $0.02 a year ago, with the revenue aligning with Zacks Consensus Estimate of $0 million and an EPS surprise of +33.33% against a consensus estimate of -$0.03 [1] Financial Performance - The company’s net product sales for Acute Care from APONVIE reached $3.81 million, exceeding the two-analyst average estimate of $3.58 million, marking a year-over-year increase of +97.4% [4] - Oncology product sales from SUSTOL were reported at $1.33 million, below the two-analyst average estimate of $1.6 million, representing a year-over-year decline of -62.3% [4] - CINVANTI generated net product sales of $22.92 million, which was lower than the two-analyst average estimate of $24.15 million, indicating a year-over-year decrease of -14.7% [4] - ZYNRELEF's net product sales amounted to $12.53 million, surpassing the average estimate of $10.23 million from two analysts, with a year-over-year growth of +48.2% [4] Stock Performance - Over the past month, shares of Heron Therapeutics have declined by -18.8%, contrasting with the Zacks S&P 500 composite's increase of +0.6%, and the stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - For the full year 2025, the company generated approximately $155 million in total net revenues and delivered adjusted EBITDA of $14.7 million, exceeding the previously communicated guidance range of $9 million to $13 million [6][20] - Gross margin for the year was approximately 73%, reflecting continued improvements in cost discipline and product mix [6] Business Line Data and Key Metrics Changes - The acute care franchise increased more than 57% year-over-year in Q4 2025, with ZYNRELEF delivering 48% net revenue growth compared to Q4 2024, and APONVIE growing 97% over the same period [7][13] - Oncology franchise generated just over $105 million in net revenue for the full year 2025, representing a modest 7.8% decline compared to 2024, primarily due to the planned wind down of SUSTOL [10] Market Data and Key Metrics Changes - Acute care net sales were $16.3 million in Q4 2025, up from $12.3 million in Q3 2025, driven primarily by ZYNRELEF and APONVIE [13] - The company expects to see continued growth in unit volume for the CINV franchise, despite anticipated price erosion [25] Company Strategy and Development Direction - The strategy for 2026 and beyond includes accelerating the expansion of the commercial team in key markets, focusing on areas with strong success indicators and favorable reimbursement dynamics [8] - The company plans to increase commercial investments, which may temporarily moderate EBITDA growth, but are expected to drive meaningful growth in top-line revenue [8][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the commercial inflection seen in Q4 2025 continuing into 2026, with a focus on maintaining EBITDA positivity while making targeted commercial investments [21] - The successful completion of financing has eliminated previous capital structure overhangs, providing the company with the financial flexibility needed for growth [21] Other Important Information - The company is advancing the prefilled syringe presentation for ZYNRELEF, with potential FDA approval anticipated in mid to late 2027 [9] - The inclusion of APONVIE in the newly released fifth consensus guidelines for the management of PONV is expected to support long-term utilization [7][16] Q&A Session Summary Question: Expectations for the CINV franchise and the NOPAIN Act's impact on ZYNRELEF - Management expects unit volume growth for the CINV franchise, with some price erosion, while the NOPAIN Act is anticipated to be a strong tailwind for ZYNRELEF [25][26] Question: Rollout status of the Vial Access Needle (VAN) and its impact on sales - The VAN rollout went smoothly, removing preparation challenges, and the company plans to continue leveraging this success for the prefilled syringe launch [30][32] Question: Update on the Slayback litigation regarding CINVANTI - The company is confident in its case and expects a decision from Judge Bryson before the 30-month stay [37] Question: Awareness efforts regarding the NOPAIN Act - The company is expanding its team to enhance awareness and understanding of the NOPAIN Act among providers, which is crucial for reimbursement [40] Question: Timeline for the impact of new consensus guidelines on PONV growth - The guidelines are expected to have a significant impact within 6 to 9 months as they are integrated into order sets and protocols [45][51]

127,127,127 Heron Therapeutics, Inc. Q4 and Full Year 2025 Earnings Call February 26, 2026 26,68,148 84,184,72 0,125,195 75,40,108 1 Forward-looking Statements and Non-GAAP Disclosures This presentation contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation other than statements of historical facts, including statements regarding our future results of operations and financial position, business and commercializa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33221 HERON THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Exhibit 99.1 Financial Guidance for 2026 CARY, N.C., February 26, 2026 (GLOBE NEWSWIRE) -- Heron Therapeutics, Inc. (Nasdaq: HRTX) ("Heron" or the "Company"), a commercial-stage biotechnology company, today announced financial results for the three and twelve months ended December 31, 2025, and highlighted recent corporate updates. "As demonstrated in today's release, we are entering 2026 with exceptional momentum. The fourth quarter delivered the strongest results in the history of Heron's Acute Care franc ...

Core Insights - Heron Therapeutics reported a 65% year-over-year net revenue growth in its Acute Care franchise, achieving $154.9 million in net revenue for 2025 and providing guidance for 2026 net revenue between $173 million and $183 million, with adjusted EBITDA expected to be between $10 million and $20 million [1][3]. Financial Performance - The Acute Care franchise experienced a revenue growth of 57.3% year-over-year in Q4 2025 and 65.1% for the full year 2025 compared to 2024, indicating strong commercial acceleration [4]. - Total net revenue for 2025 was $154.9 million, up from $144.3 million in 2024, reflecting a 7.4% increase [9]. - For Q4 2025, total net revenue was $40.6 million, slightly down from $40.8 million in Q4 2024, marking a 0.5% decrease [10]. Product Updates - ZYNRELEF, a key product, received a permanent product-specific J-Code (J0668) from CMS, effective October 1, 2025, which streamlines reimbursement processes [7]. - The transition to the Vial Access Needle for ZYNRELEF has been completed, enhancing product handling and sterility in hospitals and surgical centers [7]. - APONVIE, another significant product, was included in the Fifth Consensus Guidelines for the Management of Postoperative Nausea and Vomiting, highlighting its clinical importance [7]. Market Position and Strategy - The CEO emphasized that the company is entering 2026 with strong momentum, driven by strategic decisions that have unlocked the potential of its assets, particularly ZYNRELEF [2]. - The company is focused on expanding demand signals and improving reimbursement clarity, positioning itself for continued market share gains and revenue growth in 2026 and beyond [2]. Oncology Franchise - The Oncology franchise generated over $105 million in net revenue for 2025, despite facing complex market dynamics [8].

Core Viewpoint - Heron Therapeutics (HRTX) has experienced a decline of over 10% year-to-date, despite an initial rally triggered by preliminary Q4'25 numbers earlier in January [1] Group 1: Company Performance - The company was previously rated a hold, with the analyst noting that HRTX had performed well in its operations [1] Group 2: Market Context - The focus of the analysis includes trading around significant events such as trial results and NDA/BLA approvals, indicating a strategic approach to biotech stock trading [1]

Group 1 - Heron Therapeutics, Inc. will host a conference call and live webcast on February 26, 2026, at 8:30 a.m. ET to report fourth quarter and full year 2025 financial results and discuss recent business highlights [1] - Participants can access the conference call via a registration link for dial-in details and are encouraged to join fifteen minutes early to avoid delays [2] - An archive of the teleconference and webcast will be available on Heron's website for 60 days following the call [2] Group 2 - Heron Therapeutics, Inc. is a commercial-stage biotechnology company focused on developing and commercializing therapeutic innovations to improve medical care for patients [3] - The company utilizes advanced science, patented technologies, and an innovative approach to drug discovery and development to create a portfolio of products aimed at enhancing the standard-of-care for acute care and oncology patients [3]

Core Insights - The company reported strong growth in Q4 2025, particularly in its Acute Care franchise, with notable contributions from ZYNRELEF and APONVIE [1] - Overall revenue for Q4 was approximately $40.5 million, with a total net revenue of about $154.9 million for FY25 [1] Financial Performance - Q4 net revenue: approximately $40.5 million for the three months ended December 31 [1] - ZYNRELEF net revenue: approximately $12.5 million for Q4 [1] - APONVIE net revenue: approximately $3.8 million for Q4 [1] - CINVANTI net revenue: approximately $22.9 million for Q4 [1] - SUSTOL net revenue: approximately $1.3 million for Q4 [1] - FY25 total net revenue: approximately $154.9 million [1] - ZYNRELEF experienced the largest quarter-over-quarter revenue increase within the portfolio in Q4 [1]

Core Insights - Heron Therapeutics, Inc. reported preliminary, unaudited net revenue for Q4 and full-year 2025, indicating growth driven by its Acute Care franchise products, ZYNRELEF and APONVIE [1][2] Financial Performance - The company achieved net revenue of approximately $40.5 million for Q4 2025, with ZYNRELEF contributing approximately $12.5 million, APONVIE approximately $3.8 million, CINVANTI approximately $22.9 million, and SUSTOL approximately $1.3 million [7] - For the full year 2025, net revenue reached approximately $154.9 million, with ZYNRELEF showing a quarter-over-quarter revenue increase of about 35% compared to Q3 2025 [7] Product Information - ZYNRELEF is the first extended-release dual-acting local anesthetic approved for postoperative pain management, demonstrating significant efficacy in reducing pain and opioid use post-surgery [3] - APONVIE is a neurokinin 1 receptor antagonist for the prevention of postoperative nausea and vomiting, approved by the FDA in September 2022 and commercially available since March 2023 [5] - CINVANTI is indicated for the prevention of chemotherapy-induced nausea and vomiting, utilizing an IV formulation of aprepitant [8] Company Overview - Heron Therapeutics focuses on developing and commercializing therapeutic innovations aimed at improving patient care, leveraging advanced science and patented technologies [11]