Core Viewpoint - Heron Therapeutics has completed a comprehensive capital restructuring aimed at enhancing financial flexibility, reducing total debt, and supporting long-term growth [1][2] Financial Restructuring Details - The refinancing transaction includes a new senior credit facility with Hercules Capital providing $110 million in committed capital and an additional $40 million available upon achieving certain milestones [6] - An exchange agreement was made to retire approximately $125 million in cash and convert $25 million of existing senior convertible notes into common stock [6] - The company issued $35 million of new 5% senior convertible notes due in 2031 and conducted a private placement for $27.7 million in gross proceeds through common and preferred equity [6] Management Commentary - The CEO of Heron emphasized that the refinancing strengthens the balance sheet, eliminates near-term debt maturities, and supports commercial execution and pipeline priorities [2] Upcoming Events - Heron will host a conference call and live webcast on August 8, 2025, to discuss the restructuring and its implications [4]

Core Viewpoint - Heron Therapeutics, Inc. will host a conference call on August 11, 2025, to report its second quarter 2025 financial results and discuss recent business highlights [1]. Group 1: Conference Call Details - The conference call is scheduled for August 11, 2025, at 4:30 p.m. ET [1]. - Participants can access the call via a registration link for dial-in details and are encouraged to join fifteen minutes early [2]. - The call will also be available as a webcast on Heron's website, with an archive accessible for 60 days post-call [2]. Group 2: Company Overview - Heron Therapeutics is a commercial-stage biotechnology company focused on developing therapeutic innovations to improve patient care [3]. - The company utilizes advanced science, patented technologies, and an innovative approach to drug discovery and development [3]. - Heron aims to advance the standard-of-care for acute care and oncology patients through its portfolio of products [3].

Heron Therapeutics, Inc. (NASDAQ: HRTX ) has four approved therapeutics, bringing in net product sales of $39M in Q1'25 between them, but the company believes one of the four drugs (Zynrelef) could be a $100M+ drug annually. I rated HRTX a buy in AprilScientist and trader of biotech stock. Focus on trading around events such as trial results and NDA/BLA approvals. Also covering companies in industries regulated by the FDA. Articles present my opinion on stocks, but don't constitute investment advice.Analyst ...

Core Insights - Heron Therapeutics reported revenue of $38.9 million for the quarter ended March 2025, reflecting a 12.2% increase year-over-year and surpassing the Zacks Consensus Estimate of $37.08 million by 4.93% [1] - The company achieved an EPS of $0.01, a significant improvement from -$0.02 in the same quarter last year, resulting in an EPS surprise of 200% compared to the consensus estimate of -$0.01 [1] Financial Performance Metrics - Net Product Sales for Oncology drug SUSTOL were $2.86 million, falling short of the $2.98 million estimate, representing a year-over-year decline of 20.6% [4] - Net Product Sales for Acute Care drug APONVIE reached $2.26 million, exceeding the $1.98 million estimate, marking a substantial increase of 352% year-over-year [4] - Net Product Sales for Acute Care drug ZYNRELEF were reported at $8.04 million, below the $9.03 million estimate, but still showing a 60.8% increase compared to the previous year [4] - Net Product Sales for Oncology drug CINVANTI amounted to $25.74 million, surpassing the $23.10 million estimate, with a slight year-over-year increase of 0.6% [4] Stock Performance - Shares of Heron Therapeutics have returned +8.7% over the past month, while the Zacks S&P 500 composite has changed by +11.5% [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]

Company Performance - Heron Therapeutics reported quarterly earnings of $0.01 per share, surpassing the Zacks Consensus Estimate of a loss of $0.01 per share, and improving from a loss of $0.02 per share a year ago, representing an earnings surprise of 200% [1] - The company posted revenues of $38.9 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 4.93%, compared to revenues of $34.67 million in the same quarter last year [2] - Over the last four quarters, Heron Therapeutics has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - Heron Therapeutics shares have increased by approximately 39.2% since the beginning of the year, while the S&P 500 has declined by 3.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.01 on revenues of $37.68 million, and for the current fiscal year, it is $0.01 on revenues of $157.15 million [7] Industry Outlook - The Medical - Drugs industry, to which Heron Therapeutics belongs, is currently ranked in the top 22% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the industry outlook can significantly impact stock performance [5][8]

Financial Data and Key Metrics Changes - The company generated total net revenues of approximately $39 million for Q1 2025, achieving a record quarterly adjusted EBITDA of $6.2 million and reporting net income of $2.6 million, compared to a net loss of $3.2 million in the same period in 2024 [8][17] - Product gross profit for the three months ended March 31, 2025, was $30.4 million or 78%, an increase from 76% for the same period in 2024, attributed to lower cost per unit due to production efficiencies [16] - Cash and short-term investments as of March 31, 2025, were $50.7 million, with adjusted EBITDA guidance revised to a range of $4 million to $12 million [17] Business Line Data and Key Metrics Changes - The oncology franchise, including CINVONTI and SUSTAL, generated combined net revenues of $28.6 million for the quarter, maintaining market share in a competitive environment [9] - Aponvi and Xenalev experienced significant growth in Q1 2025, with increases of over 43% and 26% respectively compared to the same period last year [11][12] - The company is focusing on product growth and execution, with a goal to optimize commercial performance and selectively expand the team to support high return growth opportunities [6][14] Market Data and Key Metrics Changes - Zeneralev's formulary status now covers approximately 19% of all orthopedic procedures, with expectations for deeper adoption in the market [6] - The company is onboarding new accounts, which are expected to drive sales momentum in the second half of the year [22][46] Company Strategy and Development Direction - The company aims to focus on disciplined execution, optimizing commercial performance, and expanding the team selectively to support growth opportunities [7][14] - The management is actively exploring strategies to drive continued growth in the oncology supportive care market [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving consensus numbers and anticipates a significant inflection in sales as new accounts are onboarded and partnerships are optimized [23][47] - The company is optimistic about the growth potential of Aponvi, projecting it to be a multi-hundred million dollar drug due to its unique safety profile and mechanism of action [42] Other Important Information - A settlement agreement with Mylan Pharmaceuticals regarding Cymbonte and Aponvi products was reached, avoiding costly litigation fees [8] - The company is focused on integrating the CrossLink partnership to enhance sales efforts and improve product adoption [41] Q&A Session Summary Question: Can you provide qualitative comments on the Cimanti litigation settlements and implications for near-term financials? - Management indicated that the settlement allows for continued growth of Cymbonte and Aponvi [20] Question: What should be expected in terms of sales momentum in the back half of the year? - Management noted that unit demand was up 2% while the market was down 5.3%, indicating positive trends and onboarding of new accounts [21][22] Question: Can you discuss overall Q1 trends and any changes to guidance? - Management confirmed that trends were consistent with past years, and they are optimistic about future growth due to new account onboarding and partnerships [28][30] Question: How do you expect gross profit margin to progress through the year? - Management expects gross margin to remain in the mid-seventies range, despite some fluctuations due to production sources [36][37] Question: What is the near-term to long-term potential for Aponvi? - Management believes Aponvi has significant growth potential, aiming to be the first choice for third-line agents in PONV therapy [42] Question: When might Zeneralev start achieving sequential revenue growth? - Management anticipates a significant inflection in Zeneralev's sales as new accounts are onboarded around mid-year [47]

Q1 2025 Earnings Call Heron Therapeutics May 6, 2025 Forward-looking Statements and Non-GAAP Disclosures This presentation contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. We caution investors that forward-looking statements are based on management's expectations and assumptions as of the date hereof and are subject to certain risks and uncertainties that could cause actual results to differ materially. Examples of forward-looking statements include, ...

Financial Data and Key Metrics Changes - The company generated total net revenues of approximately $39 million for Q1 2025, achieving a record quarterly adjusted EBITDA of $6.2 million and reporting net income of $2.6 million, a significant improvement from a net loss of $3.2 million in the same period in 2024 [7][17] - Product gross profit for Q1 2025 was $30.4 million, representing a gross margin of 78%, an increase from 76% in Q1 2024, attributed to lower cost per unit due to production efficiencies [15][17] - Cash and short-term investments as of March 31, 2025, were $50.7 million, with adjusted EBITDA guidance revised to a range of $4 million to $12 million [17] Business Line Data and Key Metrics Changes - The oncology franchise, including CINVONTI and SUSTAL, generated combined net revenues of $28.6 million for the quarter, maintaining market share in a competitive environment [9] - Aponvi and Xenalev experienced significant growth in Q1 2025, with increases of over 43% and 26% respectively compared to the same period last year [11][12] - The company is focusing on product growth and execution, particularly with Aponvi and Zeneralev, which are expected to show stronger growth trajectories as new accounts are onboarded [12][14] Market Data and Key Metrics Changes - Zeneralev's formulary status now covers approximately 19% of all orthopedic procedures, indicating a growing market presence [6] - The company is seeing positive trends in average daily units and the number of ordering accounts for both Aponvi and Xenalev, with expectations for continued growth throughout 2025 [12][13] Company Strategy and Development Direction - The company is focused on disciplined execution, optimizing commercial performance, and selectively expanding the team to support high-return growth opportunities [6][14] - Key catalysts for growth include the expanded label for Zeneralev, the VAN launch, the approval of the No Pain Act, and the CrossLink partnership [6][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving consensus numbers for the year, with expectations for a significant inflection in sales momentum as new accounts are onboarded and partnerships are fully integrated [22][23] - The company anticipates a positive outlook for the remainder of the year, driven by strategic initiatives and improved operational efficiencies [30] Other Important Information - A settlement agreement with Mylan Pharmaceuticals regarding Cymbonte and Aponvi products was reached, avoiding costly litigation fees and removing uncertainty around the outcome [7] - The company is prioritizing hiring a commercial leader to enhance its growth strategy, with Mark Hensley joining the team [7] Q&A Session Summary Question: Comments on the Cymanti litigation settlements and implications for near-term financials - Management indicated that the settlement allows for continued growth of Cymbonte and Aponvi without the burden of litigation [20] Question: Expectations for sales momentum in the second half of the year - Management noted a 2% increase in unit demand despite a market decline, with several accounts in the onboarding process expected to drive growth [21][22] Question: Overall Q1 trends and seasonality - Management confirmed that Q1 trends were consistent with past years, with a slight fall-off expected but overall positive performance [26][27] Question: Guidance changes and drivers for EBITDA increase - Management highlighted strong Q1 performance due to efficiencies and the settlement announcement, leading to revised positive guidance [30] Question: Future gross profit margin expectations - Management expects gross margins to remain in the mid-seventies range, with some fluctuations due to production scale [33][35] Question: Long-term potential for Aponvi - Management believes Aponvi has significant growth potential, targeting a multi-hundred million dollar market as it becomes a preferred third-line agent [40] Question: Timing for Zeneralev revenue growth inflection - Management anticipates a significant inflection in Zeneralev sales as new accounts are onboarded in mid to late 2025 [44][45]

Product Approvals and Indications - ZYNRELEF, a dual-acting local anesthetic, is the first modified-release local anesthetic classified by the FDA as an extended-release product, significantly reducing pain and increasing the proportion of patients requiring no opioids post-surgery[96]. - ZYNRELEF received FDA approval for expanded indications in December 2021 and January 2024, and a prior approval supplement for the Vial Access Needle was approved in September 2024[97]. - APONVIE, the first intravenous formulation of an NK1 receptor antagonist for postoperative nausea and vomiting, was approved by the FDA in September 2022 and became commercially available in March 2023[99][100]. - CINVANTI, an IV formulation of aprepitant, is indicated for the prevention of acute and delayed nausea and vomiting associated with highly emetogenic and moderately emetogenic cancer, and was approved by the FDA in November 2017[101][104]. - SUSTOL, the first extended-release 5-HT3 receptor antagonist, is indicated for preventing nausea and vomiting associated with MEC and AC chemotherapy regimens, and was approved by the FDA in August 2016[105][107]. Financial Performance - Net product sales for the three months ended March 31, 2025, were $38.9 million, an increase of 12.4% compared to $34.7 million in 2024[112]. - Acute care net product sales increased by 89.4% or $4.9 million, primarily driven by increased units sold and new customers for ZYNRELEF and APONVIE[113]. - Oncology net product sales decreased by 2.2% during the same period, attributed to market competition[114]. - Gross profit margin improved to 78.3% in Q1 2025 from 75.6% in Q1 2024, despite a 0.2% increase in cost of product sales[115]. - Net income for Q1 2025 was $2.6 million, compared to a net loss of $3.2 million in Q1 2024[123]. - Net cash used in operating activities decreased to $8.9 million in Q1 2025 from $9.5 million in Q1 2024, attributed to improved net income and reduced operating spend[124]. Expenses and Cost Management - Research and development expenses decreased by 50.5% to $2.3 million, primarily due to reduced headcount and development activities[117]. - General and administrative expenses decreased by 15.2% to $12.7 million, mainly due to reduced headcount and legal expenses[118]. - Sales and marketing expenses increased by 7.6% to $12.3 million, reflecting increased spending to support revenue growth in acute care products[119]. Regulatory and Market Considerations - The Centers for Medicare and Medicaid Services approved a 3-year transitional pass-through status for ZYNRELEF effective April 1, 2022, allowing separate reimbursement outside of the surgical bundle payment[98]. - The omnibus spending bill H.R. 2617 includes the NOPAIN Act, directing CMS to provide separate Medicare reimbursement for non-opioid treatments, including ZYNRELEF, from January 1, 2025, through December 31, 2027[98]. - The company faces various risks, including competition, regulatory challenges, and market acceptance of its products, which may impact future performance[92]. Technology and Development Focus - The proprietary Biochronomer Technology allows for sustained release of pharmacological agents over days to weeks with a single administration, enhancing therapeutic delivery[108]. - The company is focused on advancing its product candidates through clinical studies and obtaining regulatory approvals within anticipated timelines[94]. Financial Position - Cash, cash equivalents, and short-term investments totaled $50.7 million as of March 31, 2025, with concerns about refinancing $150 million in Senior Convertible Notes due in May 2026[121].

Exhibit 99.1 Heron Therapeutics Announces First Quarter 2025 Financial Results and Highlights Recent Corporate Updates CARY, May 6, 2025 /PRNewswire/ -- Heron Therapeutics, Inc. (Nasdaq: HRTX) ("Heron" or the "Company"), a commercial-stage biotechnology company, today announced financial results for the three months ended March 31, 2025, and highlighted recent corporate updates. "We are off to a strong start in 2025, achieving record adjusted EBITDA for the first quarter. Building on our efforts to strength ...