Overview

* Heron Q3 2025 net revenue rises 16.5% yr/yr to $38.2 mln

* ZYNRELEF Q3 2025 net revenue grows 49% yr/yr, driven by new initiatives

* APONVIE Q3 2025 net revenue increases 173% yr/yr, boosted by sales team launch

Outlook

* Heron reaffirms 2025 net revenue guidance of $153 mln to $163 mln

* Company maintains 2025 adjusted EBITDA guidance of $9 mln to $13 mln

* Heron sees increased demand driven by new commercial initiatives

Result Drivers

* ZYNRELEF GROWTH - Revenue grew 49% in Q3 2025, driven by the launch of the Vial Access Needle and enhanced distributor incentives

* APONVIE GROWTH - Revenue increased 173% in Q3 2025, supported by increased adoption and a new dedicated sales team

* ACUTE CARE FRANCHISE - Delivered 67.2% revenue growth yr/yr in Q3 2025, reflecting commercial acceleration

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $38.21

Product mln

Sales

Q3 EPS -$0.10

Q3 $30.39

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Heron Therapeutics Inc ( HRTX ) is $5.00, about 76.4% above its November 3 closing price of $1.18

* The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 55 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)