Heron Therapeutics, Inc. · NASDAQ:HRTX
Heron Therapeutics — Q1 2026 Earnings Presentation
23 slides from Heron Therapeutics's earnings presentation, May 11, 2026
Slide 1: Heron Therapeutics, Inc. Q1 2026 Earnings Call
Heron Therapeutics, Inc. Q1 2026 Earnings Call May 11, 2026 1
Slide 2: Forward-looking Statements and Non-GAAP Disclosures
Forward-looking Statements and Non-GAAP Disclosures This presentation contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation other than statements of historical facts, including statements regarding our
Slide 3: Executive Summary
Executive Summary STRICTLY PRIVATE & CONFIDENTIAL 3
Slide 4: Q1 2026 Achievements and Key Updates
Q1 2026 Achievements and Key Updates 1 Acute Care franchise delivered revenue growth of 32% year-over-year in Q1 2026 2 ZYNRELEF® Q1 net revenue grew 27% year-over-year 3 Commercial alignment program for ZYNRELEF extended throughout 2026 and expanded with IGNITE 2.0 4 APONVIE® Q1 net revenue grew 50
Slide 5: Product Performance
Product Performance STRICTLY PRIVATE & CONFIDENTIAL 5
Slide 6: Net Sales Performance: $34.7 Million for the Q1 2026
Net Sales Performance: $34.7 Million for the Q1 2026 Acute Care Franchise: $13.6 Million in Q1 2026 Oncology Franchise: $21.1 Million in Q1 2026 ZYNRELEF ® APONVIE ® CINVANTI ® SUSTOL ® 24.1 24 22.9 20.5 (As previously announced, commercialization of SUSTOL will be paused at the end of 2026 as a 12.
Slide 7: Net Selling Price Trends: Continued Discipline Across the Portfolio
Net Selling Price Trends: Continued Discipline Across the Portfolio Acute Care Franchise Oncology Franchise ZYNRELEF ® APONVIE ® CINVANTI ® SUSTOL ® (As previously announced, commercialization of SUSTOL will be paused at the end of 2026 as a planned wind-down for potential future product enhancement
Slide 8: ZYNRELEF Update
ZYNRELEF® Update STRICTLY PRIVATE & CONFIDENTIAL 8
Slide 9: ZYNRELEF Performance Metrics and Growth Drivers
Acute Care Franchise ZYNRELEF® Performance Metrics and Growth Drivers ZYNRELEF - AVERAGE DAILY UNITS ZYNRELEF - ORDERING ACCOUNTS Q1 2026 Performance Metrics 1,500 800 • Demand Units grew 22% between Q1 2025 and Q1 2026 (not shown) 1,400 750 • Accounts targeted within IGNITE grew 111% from inception
Slide 10: ZYNRELEF: Strong Unit Growth Resulting from IGNITE Accounts
Acute Care Franchise ZYNRELEF: Strong Unit Growth Resulting from IGNITE Accounts +111% 19,169 13,848 9,081 7,057 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Pre-IGNITE IGNITE Source: 867 Data 10
Slide 11: ZYNRELEF: Continuation of IGNITE in 2026 with Expanded IGNITE 2.0
Acute Care Franchise ZYNRELEF: Continuation of IGNITE in 2026 with Expanded IGNITE 2.0 H2 2025 FY 2026 2,261 + 848 3,109 Accounts in Additional Accounts in IGNITE 1.0 Accounts IGNITE 2.0 38% Increase 11
Slide 12: ZYNRELEF Pre-filled Syringe Program Funded and On-Track
Acute Care Franchise ZYNRELEF Pre-filled Syringe Program Funded and On-Track ZYNRELEF PFS Designed to Meet Contemporary Needs: Program Status Uptake of Preparation Devices: VVS (Original), VAN, PFS • Aligns with ASHP & Joint Commission recommendations ✓ Biocompatibility • Improves OR and Health Syst
Slide 13: APONVIE Update
APONVIE® Update STRICTLY PRIVATE & CONFIDENTIAL 13
Slide 14: APONVIE Performance Metrics and Growth Drivers
Acute Care Franchise APONVIE® Performance Metrics and Growth Drivers APONVIE - AVERAGE DAILY UNITS APONVIE - ORDERING ACCOUNTS Q1 2026 Performance Metrics 1,400 380 • Demand Units grew 68% between Q1 2025 and Q1 2026 (not shown) 360 1,200 • Average Daily Units in Q1 2026 grew 70% over 340 Q1 2025 1,
Slide 15: New 5th Edition PONV Guidelines Underline the Value of APONVIE
Acute Care Franchise New 5th Edition PONV Guidelines Underline the Value of APONVIE Updates to the Guidelines Key APONVIE Differentiators Key Change Area 4th Guidelines (2020) 5th Guidelines (2025) First and Only IV NK-1 antagonist with FDA approval for PONV 1 prophylaxis NK-1s recommended but not A
Slide 16: CINVANTI Update
CINVANTI® Update STRICTLY PRIVATE & CONFIDENTIAL 16
Slide 17: CINVANTI Performance Metrics and Growth Drivers
Oncology Franchise CINVANTI® Performance Metrics and Growth Drivers CINVANTI - AVERAGE DAILY UNITS CINVANTI - ORDERING ACCOUNTS Q1 2026 Performance Metrics 3,500 1400 • CINVANTI Market Share of 25% in March 2026, in line with the average of 25% for the past 12 3,000 1200 Existing Accounts months (no
Slide 18: Neurokinin-1 Market for CINV: Unit Volume Trends
Oncology Franchise Neurokinin-1 Market for CINV: Unit Volume Trends +21% -19% CINVANTI Market +21% -16% 100 +20% -13% +13% -16% Share of 25% in March 2026, in line +6% 90 -3% +6% with the average of 80 25% for the past 12 months 70 60 50 40 30 30% 24% 22% 23% CINVANTI 28% 28% 21% 20 26% 27% 24% 23%
Slide 19: Commercial Closing Remarks
Commercial Closing Remarks THERAPEUTICS’
Slide 20: Finance
Finance STRICTLY PRIVATE & CONFIDENTIAL 10
Slide 21: Financial Highlights
Financial Highlights Q1 2026 In $000 except where specified Actuals (unaudited) Net Product Sales $ 34,711 Gross Margin % 69% Total Operating Expenses $ 28,838 Q1 2026 Ending Cash Net (Loss) Income ($ 8,111) and Cash Equivalents Other Expense2 3,346 $44.8M Inventory reserve/write-offs 313 Project re
Slide 22: 2026 Guidance
2026 Guidance FY 2026 Guidance 2026 Guidance Commentary Full year Net Product Sales guidance includes continued growth of ZYNRELEF and APONVIE, similar CINVANTI Net Product Sales $173.0 to $183.0 million performance (varying by quarter), and planned wind-down of SUSTOL for potential future product e
Slide 23: Questions
THERAPEUTICS’ Questions 13