Business
Heron Therapeutics Announces Fourth Quarter and Full-Year 2024 Financial Results and Highlights Recent Corporate Updates
Achieved Q4 2024 GAAP Net Income of $3.6 millionGenerated full-year 2024 Net Revenue of $144.2 million, up 14% year-over-yearDelivered full-year 2024 adjusted
About this update from Heron Therapeutics, Inc.
[{"type":"text","content":"Achieved Q4 2024 GAAP Net Income of $3.6 millionGenerated full-year 2024 Net Revenue of $144.2 million, up 14% year-over-yearDelivered full-year 2024 adjusted EBITDA of $8.6 millionGenerated ZYNRELEF® Q4 2024 Net Revenue of $8.5 million and launched the ZYNRELEF Vial Access Needle (\"VAN\") in December 2024U.S. District Court ruled in favor of Heron in patent lawsuit against Fresenius Kabi USA, LLC, and upheld the validity of CINVANTI® patents which expire in 2035 CARY, N.C., Feb. 27, 2025 /PRNewswire/ -- 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, 2024, and highlighted recent corporate updates.\n\"2024 was a milestone year for Heron. We delivered strong financial results, including positive Net Income for Q4 2024, achieved our operational objectives, and repositioned the business for future growth. As we move into 2025, our product ZYNRELEF is poised for transformational growth, driven by its expanded label indications, the launch of the VAN, the approval of the NOPAIN Act, and the enhanced promotional reach of the Crosslink relationship,\" said Craig Collard, Chief Executive Officer.\nFinancial Guidance for 2025 \n \nItem\n \n \n2025 Full-Year Guidance for Net Revenue and Adjusted EBITDA\n(in millions)\n \n \nNet Revenue\n \n$153.0\n \nto\n \n$163.0\nAdjusted EBITDA\n$0.0\nto\n$8.0\nBusiness Highlights \nPartnership with Crosslink Network, LLC (\"Crosslink\") expands the promotional effort for ZYNRELEF within the orthopedic surgery marketplace for post-operative pain.Expanded label indications for ZYNRELEF now cover an estimated 17 million annual targeted procedures with many more also indicated - a significant increase over prior indicated procedures, based upon data from studies for cesarean section, spinal surgery, augmentation mammoplasty, and total shoulder arthroplasty, making ZYNRELEF appropriate for a wide range of patients and appealing for broad formulary adoption.ZYNRELEF will continue to receive separate payment from April 1, 2025, until at least the end of 2027 as the result of inclusion in the \"CMS OPPS and ASC Final Rule CY 2025 Non-Opioid Policy for Pain Relief\" by the Centers for Medicare & Medicaid Services (\"CMS\").The ZYNRELEF VAN launched in Q4 2024, ...