Business
Heron Therapeutics Announces Financial Results for the Three and Nine Months Ended September 30, 2021 and Highlights Recent Corporate Updates
- ZYNRELEF® net product sales of $2.1 million in its first quarter of launch with 160 unique accounts already purchasing ZYNRELEF and 50% of those accounts
About this update from Heron Therapeutics, Inc.
[{"type":"text","content":"- ZYNRELEF® net product sales of $2.1 million in its first quarter of launch with 160 unique accounts already purchasing ZYNRELEF and 50% of those accounts reordering -\n - ZYNRELEF has received 126 formulary approvals, representing over a 91% hospital approval rate -\n - CMS has issued a specific C-code for ZYNRELEF to support separate reimbursement for Medicare patients in the ASC setting of care -\n\n\nSAN DIEGO, Nov. 3, 2021 /PRNewswire/ -- Heron Therapeutics, Inc. (Nasdaq: HRTX), 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, today announced financial results for the three and nine months ended September 30, 2021 and highlighted recent corporate updates.\nRecent Corporate Updates\nAcute Care Franchise\nZYNRELEF Now Available: The ZYNRELEF (bupivacaine and meloxicam) extended-release solution New Drug Application (NDA) was approved by the U.S. Food and Drug Administration (FDA) in May 2021. ZYNRELEF became commercially available in the U.S. on July 1, 2021, and net product sales for the three and nine months ended September 30, 2021 were $2.1 million. During the first quarter of commercial launch, 160 unique accounts purchased ZYNRELEF with 50% of those accounts reordering the product. As of October 31, 2021, ZYNRELEF has received 126 formulary approvals, representing over a 91% hospital approval rate, and an additional 150 formulary review meetings are scheduled before the end of 2021. Multiple commercial and Medicaid payers covering over 88 million lives have agreed to reimburse ZYNRELEF outside of the surgical bundle payment for surgeries performed in ambulatory surgical centers (ASC), with many of these covered lives also having their hospital outpatient procedures reimbursed outside the surgical bundle payment. Commercial and Medicaid payers represent >80% of our target patients in the outpatient setting. On November 2, 2021, we were issued a specific C-code (C9088) for separate reimbursement in the ASC setting of care effective January 1, 2022. Medicare is currently reimbursing ZYNRELEF in outpatient settings of care under a miscellaneous C-code at 95% of the Average Wholesale Price until December 31, 2021. Heron announced on October 4, 2021, the filing of a supplemental NDA (sNDA) for ...