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HRTX Heron Therapeutics

Heron Therapeutics, Inc. is a commercial-stage biotechnology company focused on improving the lives of patients by developing best-in-class treatments to address some of the most important unmet patient needs. Heron is developing novel, patient-focused solutions that apply its innovative science and technologies to already-approved pharmacological agents for patients suffering from pain or cancer.

Company profile

Ticker
HRTX
Exchange
Website
CEO
Barry Quart
Employees
Incorporated
Location
Fiscal year end
Former names
ADVANCED POLYMER SYSTEMS INC /DE/, AP PHARMA INC /DE/
SEC CIK
IRS number
942875566

HRTX stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

10 May 21
28 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 59.74M 59.74M 59.74M 59.74M 59.74M 59.74M
Cash burn (monthly) 15.13M 3.63M 17.37M 18.96M 13.98M 16.15M
Cash used (since last report) 59.2M 14.2M 67.95M 74.17M 54.68M 63.18M
Cash remaining 542.4K 45.54M -8.21M -14.44M 5.06M -3.44M
Runway (months of cash) 0.0 12.6 -0.5 -0.8 0.4 -0.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
13 Jul 21 David Leslie Szekeres Common Stock Payment of exercise Dispose F No No 13.48 433 5.84K 3,164
13 Jul 21 David Leslie Szekeres Common Stock Option exercise Aquire M No No 0 1,250 0 3,597
13 Jul 21 David Leslie Szekeres RSU Common Stock Option exercise Dispose M No No 0 1,250 0 16,250
13 Jul 21 Quart Barry D Common Stock Payment of exercise Dispose F No No 13.48 963 12.98K 99,403
13 Jul 21 Quart Barry D Common Stock Option exercise Aquire M No No 0 3,645 0 100,366
13 Jul 21 Quart Barry D RSU Common Stock Option exercise Dispose M No No 0 3,645 0 47,396
13 Jul 21 John Poyhonen Common Stock Payment of exercise Dispose F No No 13.48 433 5.84K 22,202
13 Jul 21 John Poyhonen Common Stock Option exercise Aquire M No No 0 1,250 0 22,635
13 Jul 21 John Poyhonen RSU Common Stock Option exercise Dispose M No No 0 1,250 0 16,250
13 Jul 21 Lisa Peraza Common Stock Payment of exercise Dispose F No No 13.48 191 2.57K 13,836

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

96.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 189 183 +3.3%
Opened positions 32 24 +33.3%
Closed positions 26 19 +36.8%
Increased positions 65 52 +25.0%
Reduced positions 62 64 -3.1%
13F shares
Current Prev Q Change
Total value 1.82B 2.07B -12.2%
Total shares 98.13M 97.87M +0.3%
Total puts 211.2K 46.8K +351.3%
Total calls 893.52K 112.8K +692.1%
Total put/call ratio 0.2 0.4 -43.0%
Largest owners
Shares Value Change
BEN Franklin Resources 12.65M $205.04M -0.3%
Vanguard 8.49M $137.64M +2.2%
Tang Capital Partners 7.64M $161.61M 0.0%
BLK Blackrock 7.14M $115.7M +3.6%
Baker Bros. Advisors 5.99M $97.17M 0.0%
Wellington Management 5.85M $94.79M -15.7%
ArrowMark Colorado 5.63M $91.28M +5.0%
STT State Street 4.58M $74.31M +15.1%
Clearbridge Advisors 3.44M $55.71M -0.5%
JPM JPMorgan Chase & Co. 3.27M $53.06M +5.6%
Largest transactions
Shares Bought/sold Change
Ubs Oconnor 2.33M +1.73M +287.5%
Artisan Partners Limited Partnership 0 -1.34M EXIT
Orbimed Advisors 0 -1.19M EXIT
Norges Bank 0 -1.17M EXIT
Wellington Management 5.85M -1.09M -15.7%
Iron Triangle Partners 0 -865.07K EXIT
Millennium Management 1.04M +839.82K +419.8%
Jacobs Levy Equity Management 642.48K +616.72K +2394.3%
STT State Street 4.58M +602.5K +15.1%
Suvretta Capital Management 506.04K +506.04K NEW

Financial report summary

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Risks
  • If we are unable to develop and maintain sales, marketing and distribution capabilities or enter into agreements with third parties to sell and market our Products, our Product Candidates or any other products we may develop, our sales may be adversely affected.
  • If we cannot establish satisfactory pricing of our Products, our Product Candidates or any other products we may develop that is also acceptable to the U.S. government, insurance companies, managed care organizations and other payors, or arrange for favorable reimbursement policies, our product sales may be adversely affected and our future revenue may suffer.
  • Because the results of preclinical studies and clinical trials are not necessarily predictive of future results, we can provide no assurances that our Product Candidates or any of our other future product candidates will have favorable results in future studies or receive regulatory approval.
  • Our evaluation of CINVANTI for the treatment of COVID-19 is at an early stage, and development of CINVANTI for the treatment of COVID-19 will require extensive testing and funding.
  • Government entities may take actions that directly or indirectly have the effect of limiting opportunities for CINVANTI as a treatment for COVID-19.
  • Interim, topline or preliminary data from our clinical trials that we announce or publish may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • Although the FDA has granted Fast Track, Breakthrough Therapy and Priority Review designations to HTX-011, there can be no assurance that HTX-011 or any of our other Product Candidates or future product candidates that receive similar designations in the U.S. or in any other regulatory jurisdictions will receive regulatory approval any sooner than other product candidates that do not have such designations, or at all.
  • Our product platforms or product development efforts may not produce safe, efficacious or commercially viable products, and, if we are unable to develop new products, our business may suffer.
  • We rely on third parties to conduct our preclinical testing and conduct our clinical trials, and their failure to perform their obligations in a timely and competent manner may delay development and commercialization of our Product Candidates and our business could be substantially harmed.
  • If our suppliers or contract manufacturers are unable to manufacture in commercially viable quantities, we could face delays in our ability to commercialize our Products, our Product Candidates or any other products we may develop, our costs will increase and our Product sales may be severely hindered.
  • We depend on third-party suppliers and contract manufacturers to manufacture our Products and our Product Candidates, and we expect to do the same for any future products that we develop; if our contract manufacturers do not perform as expected, our business could suffer.
  • Certain of the components used in the manufacture of our Products, our Product Candidates and our other product candidates are sourced from a single vendor.
  • We have, or may have, significant inventory levels of drug products, and write-downs related to the impairment of those inventories may adversely impact or delay our profitability.
  • It is difficult to predict commercial demand for our Products, and, if our estimates of demand are too low, it may adversely impact our ability to generate revenue and profits in the short term and our ability to establish and maintain a competitive position in the relevant markets where our Products are sold, or may be sold, in the future.
  • We face intense competition from other companies developing products for the prevention of CINV and PONV, management of postoperative pain or treatment of COVID-19.
  • Our Products and our Product Candidates may face competition from lower-cost generic products offered by our competitors.
  • Our business and results of operations may suffer as a result of changes in our pricing or marketing strategies.
  • If we are unable to recruit and retain skilled employees, we may not be able to achieve our objectives.
  • Our business strategy may include acquisitions of other businesses, products or product licenses. We may not be able to successfully manage such activities.
  • Our business strategy may include entry into collaborative agreements. We may not be able to enter into collaborative agreements or may not be able to negotiate commercially acceptable terms for these agreements.
  • Our business, financial condition, results of operations, growth and corporate culture could be harmed by the effects of the ongoing COVID-19 pandemic and actions taken in response to the COVID-19 pandemic.
  • Natural or man-made disasters, including epidemics, pandemics, acts of war or terrorism, or resource shortages, could disrupt our investigational drug candidate development and approved drug commercialization efforts and adversely affect results.
  • We have a history of losses, we expect to generate losses in the near future, and we may never achieve or maintain profitability.
  • Additional capital may be needed in the future to enable us to implement our business plan, and we may be unable to raise capital, which would force us to limit or cease our operations and related product development programs.
  • We may not be able to raise additional capital when needed or desired, or we may need to raise additional capital on unfavorable terms, which could result in dilution to existing stockholders.
  • We could be exposed to significant product liability claims that could be time-consuming and costly to defend, divert management attention and adversely impact our ability to obtain and maintain insurance coverage.
  • If any of our services providers are characterized as employees, we would be subject to employment and tax withholding liabilities and other additional costs.
  • The investment of our cash is subject to risks, which may cause losses or adversely affect the liquidity of these investments and our results of operations, liquidity and financial condition.
  • Drug development involves a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results.
  • Delays in clinical testing could increase our costs and delay our ability to obtain regulatory approval and commercialize our Product Candidates.
  • We may not obtain regulatory approval for our Product Candidates in development. Regulatory approval may also be delayed or revoked or may impose limitations on the indicated uses of a Product Candidate. If we are unable to obtain regulatory approval for our Product Candidates in development, our business will be substantially harmed.
  • Failure to obtain regulatory approval in international jurisdictions would prevent our Products, our Product Candidates or any other products we may develop from being marketed abroad.
  • Even if our Product Candidates in development receive regulatory approval, they may still face future development and regulatory difficulties. If we fail to comply with continuing federal, state and foreign regulations, we could lose our approvals to market drugs, and our business would be seriously harmed.
  • The commercial use of our Products may cause unintended side effects or adverse reactions, or incidents of misuse may occur, which could adversely affect our business.
  • Health care reform could increase our expenses and adversely affect the commercial success of our Products, our Product Candidates and any other product candidates we may develop.
  • Our employees may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have a material adverse effect on our business.
  • We are subject to certain data privacy and security requirements, which are very complex and difficult to comply with at times. Any failure to ensure adherence to these requirements could subject us to fines, penalties and damage our reputation.
  • Security breaches and other disruptions could compromise our information and expose us to liability, which would cause our business and reputation to suffer.
  • Our use of hazardous materials could subject us to liabilities, fines and sanctions.
  • If we are unable to adequately protect or enforce our intellectual property rights, we may lose valuable assets or incur costly litigation to protect our rights.
  • The price of our common stock has been and may continue to be volatile.
  • Our certificate of incorporation, our bylaws and Delaware law contain provisions that could discourage another company from acquiring us and may prevent attempts by our stockholders to replace or remove our current management.
  • Future utilization of net operating loss carryforwards or research and development credit carryforwards may be impaired due to recent changes in ownership.
  • If we identify a material weakness in our internal control over financial reporting, our ability to meet our reporting obligations and the trading price of our common stock could be negatively affected.
  • Because we do not anticipate paying any cash dividends on our common stock in the foreseeable future, capital appreciation, if any, will be the source of gain for our stockholders.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
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