Heron Therapeutics Q2 2023 revenue up; secures $80M in new financing; cost cuts expected to save $75M through 2025

HERON THERAPEUTICS, INC. /DE/

2023-Q2 EPS reported -$0.63 revenue$61,377,000

Oncology care franchise net product sales $27.3M (Q2 2023) vs $25.1M (Q2 2022); acute care franchise sales $4.5M vs $2.5M.
Full-year 2023 oncology care net product sales guidance reiterated at $99M-$103M.
Closed $29.7M equity placement in July 2023; entered $50M working capital facility in August 2023 with $24.5M drawn.
Cost reduction program expected to save ~$75M in cash spend through 2025; new management team in place.
Favorable Markman hearing outcome in CINVANTI patent litigation against Fresenius Kabi.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HERON THERAPEUTICS, INC. /DE/ updated its the three and six months ended June 30, 2023 guidance (reaffirmed).

Period: the three and six months ended June 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On August 14, 2023, Heron Therapeutics, Inc. (“Company”) issued a press release announcing its financial results for the three and six months ended June 30, 2023

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Source: SEC EDGAR

accession 0000950170-23-042414

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