• Reported GAAP EPS of -$0.02 down -200.00% YoY • Reported revenue of $40.59M down -0.47% YoY • Heron Therapeutics issued full-year 2026 guidance, projecting net revenue between $173M and $183M and adjusted EBITDA ranging from $10M to $20M.
Bullish
Heron's Acute Care franchise revenue grew 65.1% in 2025, driven by ZYNRELEF's J-Code approval and distribution partnerships, while APONVIE gained momentum with its dedicated sales team and guideline inclusion.
Bearish
Heron reported a full-year 2025 net loss of -$20.2M, with Q4 total net revenue decreasing 0.5% due to a 20.2% decline in Oncology franchise revenue, and faces future equity financing risks.