{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-109234","form_type":"8-K","ticker":"HRTX","cik":"0000818033","company_name":"HERON THERAPEUTICS, INC. /DE/","filed_at":"2025-08-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.442751+00:00","generated_at":"2026-05-17T12:40:45.855758+00:00","sec_items":["1.01","3.03","5.03","8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Heron Therapeutics adopts poison pill to protect $1.37B in NOLs from ownership change","bullets":["Company holds ~$1.37B in U.S. federal NOLs as of Dec 31, 2024; plan aims to preserve tax asset.","Plan triggers ownership threshold at 4.99%; effective Aug 14, 2025; expires Aug 14, 2026 unless extended.","Adoption satisfies covenant in Note Purchase Agreement with Rubric Capital Management dated Aug 8, 2025.","Rights plan deters any single investor or group from crossing 4.99% beneficial ownership without Board approval.","Board may exempt acquisitions that do not impair NOL availability."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-109234","json":"https://secwatch.observer/filing/0000950170-25-109234.json","markdown":"https://secwatch.observer/filing/0000950170-25-109234.md","text":"https://secwatch.observer/filing/0000950170-25-109234.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/818033/000095017025109234/0000950170-25-109234-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/818033/000095017025109234/hrtx-20250813.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T12:40:45.855758+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}