secwatch.observer — SEC 8-K summary
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Issuer:     HERON THERAPEUTICS, INC. /DE/ (HRTX)
CIK:        0000818033
Form:       8-K
Filed at:   2025-08-08T23:59:59+00:00
Accession:  0000950170-25-105474
Event type: other_material
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.02, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Heron reports Q2 revenue $37.2M, raises EBITDA guidance; completes capital restructuring reducing debt to $145M
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- Q2 net revenue $37.2M (+3.3% YoY); year-to-date $76.1M (+7.7%); Acute Care revenue up 55.5% YoY.
- 2025 Adjusted EBITDA guidance raised to $9M-$13M from $4M-$12M; net revenue guidance reaffirmed $153M-$163M.
- Capital restructuring: new $110M facility due 2030; $150M notes exchanged ($125M cash + $25M stock); $35M new convert notes; $27.7M private placement.
- Total debt reduced from $175M to $145M; maturities extended to at least 2030, enhancing financial flexibility.
- APONVIE unit demand up 19% QoQ; ZYNRELEF unit demand up 6.3% QoQ with new dedicated sales teams launching Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818033/000095017025105474/0000950170-25-105474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818033/000095017025105474/hrtx-20250808.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-105474

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer