Heron Therapeutics reports 2025 net revenue $154.9M, up 7.4%; issues 2026 guidance $173-183M

HERON THERAPEUTICS, INC. /DE/

2025-FY EPS reported -$0.12 revenue$154,904,000

Full-year 2025 net revenue $154.9M (+7.4% YoY); Q4 net revenue $40.6M (-0.5% vs Q4 2024).
Acute care franchise grew 65.1% to $49.6M; ZYNRELEF +49%, APONVIE +156%.
Oncology franchise declined 7.8% to $105.3M; CINVANTI -3.3%, SUSTOL -39.9%.
2026 guidance: net revenue $173-183M, adjusted EBITDA $10-20M.
Cash $46.6M; ZYNRELEF J-code effective Oct 2025; prefilled syringe FDA target mid-to-late 2027.

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