08:20 AM EDT, 08/15/2025 (MT Newswires) -- Heron Therapeutics ( HRTX ) said Friday its board has adopted a rights plan to protect the potential value of its net operating loss carryforwards, or NOLs, and other tax benefits.

As of Dec. 31, 2024, the company said it had about $1.37 billion in federal NOLs which may be available to offset future taxable income. However, the deduction may be limited if there were a change of ownership, the company said.

Under the plan, which will expire one year from Aug. 14, the rights will become exercisable only if a person or a group acquires 4.99% or more of the company's outstanding shares, the company said.

Heron Therapeutics ( HRTX ) shares were up 3% in recent Friday premarket activity.