What Heron Therapeutics does

Heron Therapeutics is a commercial-stage biotechnology company listed on NASDAQ under the ticker HRTX that develops and markets pharmaceutical products targeting two defined care settings: acute care (postoperative pain management and surgical settings) and oncology care (chemotherapy-induced nausea and vomiting prophylaxis). The company leverages a proprietary polymer-based drug delivery technology called Biochronomer to create long-acting formulations of established active pharmaceutical ingredients, and currently markets four FDA-approved products: SUSTOL (extended-release granisetron), CINVANTI (aprepitant injectable emulsion), ZYNRELEF (bupivacaine and meloxicam extended-release solution), and APONVIE (aprepitant injectable emulsion).

The business model is built on commercial pharmaceutical product sales to institutional healthcare buyers—primarily hospital systems, ambulatory surgical centers, and oncology practices—distributed through a combination of a direct specialty sales force and channel partnerships, most notably the Cross Link Life Sciences distribution arrangement covering ZYNRELEF into orthopedic and ambulatory surgical center accounts. Net product revenue was approximately $154.9 million in 2025, and the company has set 2026 net product sales guidance of $173–183 million, supported by double-digit growth in the Acute Care franchise (ZYNRELEF and APONVIE both posting strong year-over-year growth in the second half of 2025 and early 2026). Capital allocation has emphasized commercial scaling (a planned mid-2026 field sales force expansion) and balance sheet defense in the face of a June 2026 US district court ruling invalidating key CINVANTI patents, which represents the defining near-term strategic risk to the franchise mix and equity value.

Name

Heron Therapeutics

Legal name

Heron Therapeutics, Inc.

Website

https://herontx.com

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

101–250 employees

Short description

Heron Therapeutics is a commercial-stage biotechnology company that develops and markets four FDA-approved pharmaceutical products for acute care and oncology settings, using its proprietary Biochronomer polymer drug delivery platform to sell to hospitals and surgical centers.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Monoclonal Antibody Therapeutics (mAbs) (HLAAAAAA)

Keywords

• Specialty pharmaceuticals
• Postoperative pain management
• Chemotherapy-induced nausea prevention
• Sustained-release drug delivery
• Oncology supportive care

Headquarters

HQ city

Redwood City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Net Product Sales: Heron generates revenue through direct sales of its FDA-approved pharmaceutical products to healthcare providers, hospitals, and through distribution channels. Full year 2025 net product sales were approximately $154.9 million. Q1 2026 total net revenue was $34.7 million with Acute Care revenue growing 32% year-over-year.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Heron Therapeutics is a commercial-stage biotechnology company that develops, manufactures, and commercializes FDA-approved pharmaceutical products for acute care and oncology patients. Its portfolio includes SUSTOL, CINVANTI, ZYNRELEF, and APONVIE, addressing postoperative pain management, chemotherapy-induced nausea and vomiting (CINV), and postoperative nausea and vomiting (PONV) using proprietary polymer-based drug delivery technologies such as Biochronomer.

Product overview

Heron Therapeutics is a commercial-stage biotechnology company developing best-in-class medicines for acute care and oncology patients. The company's commercial portfolio includes four FDA-approved products: SUSTOL® (granisetron) for chemotherapy-induced nausea and vomiting (CINV), CINVANTI® (aprepitant) injectable emulsion for CINV, ZYNRELEF® (bupivacaine and meloxicam) for postoperative pain management, and APONVIE® (aprepitant) for postoperative nausea and vomiting (PONV). The Acute Care franchise focuses on pain management and PONV, while the Oncology Care franchise addresses CINV. The company's proprietary Biochronomer® polymer technology enables extended-release drug delivery. Pipeline candidates include HTX-019 for PONV and HTX-034.

Differentiator

Problem solved

Functional benefit

Brands

• Biochronomer: Proprietary polymer technology platform used in product development including SUSTOL and other injectable formulations.

Products and services

• SUSTOL (granisetron) extended-release injection A serotonin-3 (5-HT3) receptor antagonist injectable product used in combination with other antiemetics for the prevention of acute and delayed chemotherapy-induced nausea and vomiting (CINV) in adults receiving MEC or AC combination chemotherapy regimens. For oncology treatment facilities and oncology healthcare providers.
• CINVANTI (aprepitant) injectable emulsion A substance P/neurokinin-1 (NK1) receptor antagonist injectable emulsion used in adults for the prevention of acute and delayed chemotherapy-induced nausea and vomiting associated with highly emetogenic (HEC) and moderately emetogenic (MEC) chemotherapy. Administered as 30-minute IV infusion or 2-minute IV injection without polysorbate 80 or synthetic surfactants. For oncology healthcare providers.
• ZYNRELEF (bupivacaine and meloxicam) extended-release solution The first and only dual-acting local anesthetic delivering a fixed-dose combination of bupivacaine and the NSAID meloxicam, approved for postoperative analgesia for up to 72 hours after soft tissue and orthopedic surgical procedures. Demonstrated significant pain reduction and increased proportion of opioid-free patients in Phase 3 studies. For surgeons, anesthesiologists, hospitals, and ambulatory surgical centers.
• APONVIE (aprepitant) injectable emulsion A neurokinin-1 (NK1) receptor antagonist administered as a 30-second IV injection of aprepitant for the prevention of postoperative nausea and vomiting (PONV) in adults. For surgical centers, hospitals, and perioperative care teams.
• HTX-019 A development-stage product candidate for postoperative nausea and vomiting (PONV) prevention, being advanced by Heron's pipeline.
• HTX-034 A pipeline product candidate listed on Heron's patent information page; specific therapeutic indication details were not provided in available source material.

Quantifiable outcome

• ZYNRELEF demonstrated significantly reduced pain and significantly increased proportion of patients requiring no opioids through the first 72 hours following surgery compared to bupivacaine solution (standard-of-care)
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Cross Link Life SciencescoreChannel Partner/ Reseller/ Distributor · 1 January 2024Heron Therapeutics partnered with Cross Link Life Sciences in January 2024 to expand distribution of Zynrelef, its pain management treatment for orthopedic surgery patients. The partnership aims to increase geographic reach and accessibility of ZYNRELEF in the surgical market.
• Baxter Healthcare CorporationminorStrategic or Co-development PartnerHeron reached a settlement with Baxter Healthcare Corporation in CINVANTI patent litigation, with the U.S. District Court for the District of Delaware dismissing the pending case on April 28, 2026.
• Azurity PharmaceuticalsminorOthersAzurity Pharmaceuticals was the opposing party in patent litigation regarding CINVANTI patents. The U.S. District Court ruled in favor of Azurity, invalidating certain Heron patent claims (US Patent Nos. 12,115,255 and 12,290,520). Heron stated it plans to appeal the decision to the U.S. Court of Appeals for the Federal Circuit.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Tarsus Pharmaceuticals: Tarsus is a commercial-stage specialty pharmaceutical company with a focused single-asset-to-multi-product launch strategy. Its stage and specialty commercialization profile are comparable to Heron's, although it operates in a different therapeutic area (ophthalmology).
• Apellis Pharmaceuticals: Apellis is a commercial-stage specialty biotech with a focused therapeutic portfolio and recent product launches. While not directly competing with Heron's products, it shares the profile of a recently commercial, narrowly focused specialty pharmaceutical company navigating similar scaling and reimbursement dynamics.
• Osmotica Pharmaceutical: Osmotica is a specialty pharmaceutical company with branded neurology and hospital-adjacent products, sharing Heron's profile as a smaller specialty pharma commercializing differentiated branded products to healthcare providers in the US.

Direct peers

• Cara Therapeutics: Cara Therapeutics is a specialty pharmaceutical company developing therapeutics for pain and pruritus, including a hospital-based acute care franchise. Its therapeutic focus on pain/itch and similar commercial-stage specialty pharma profile make it a relevant comparable to Heron.
• Collegium Pharmaceutical: Collegium is a specialty pharmaceutical company focused on responsible pain management, including abuse-deterrent opioid formulations and non-opioid pain therapies. It overlaps with Heron's ZYNRELEF positioning around opioid-sparing postoperative pain management and shares a similar commercial-stage specialty pharma profile.
• Pacira BioSciences: Pacira's Exparel (long-acting bupivacaine) competes directly with Heron's ZYNRELEF in the postoperative local analgesia market. Both companies target hospital and surgical center customers with extended-release injectable anesthetics, making Pacira Heron's most direct commercial-stage competitor.
• Eagle Pharmaceuticals: Eagle Pharmaceuticals is a specialty pharma company with oncology supportive care and hospital-based injectable products, and has expanded into the PONV space via its acquisition of Acacia Pharma (Barhemsys). Its portfolio and acute-care hospital channel overlap meaningfully with Heron's CINVANTI and APONVIE franchises.
• Acacia Pharma (Eagle subsidiary): Acacia developed Barhemsys (amisulpride) for postoperative nausea and vomiting, making it a direct head-to-head competitor of Heron's APONVIE in the PONV indication. Acacia is now part of Eagle Pharmaceuticals but its product competes with Heron in the same surgical hospital channel.

Broad incumbents

• Salix Pharmaceuticals: Salix is a large specialty pharmaceutical company focused on gastroenterology with a strong US sales force targeting hospital and specialty physicians. While its therapeutic focus differs, its commercial-stage specialty pharma model and hospital sales motion are highly comparable to Heron (and is the former employer of Heron's CDO).
• Bausch Health: Bausch Health is a large diversified specialty pharmaceutical company with presence in hospital-administered and specialty therapeutics. Its scale, infrastructure and broader portfolio make it a broad incumbent comparable to Heron's specialty pharma commercial model rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds13 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heron Therapeutics