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Heron Stock Trading Higher After Q1 Earnings, Ahead Of HTX-011 Decision Scheduled This Week

05/10/2021 13:24
  • Heron Therapeutics Inc (NASDAQ: HRTXposted Q1 oncology care net product sales of $20 million, compared to $25.4 million a year ago, due to reduced cancer screening procedures and new patient treatment starts as a result of the pandemic.
  • Heron believes that the number of patients receiving cancer treatment will begin to return to normal levels after the vaccine rollout.
  • Pipeline Highlights:
    • HTX-011 marketing application for postoperative pain is under review, with a PDUFA goal date of May 12.
    • In March, the company initiated an expanded Phase 2 study of HTX-034 to treat postoperative pain in patients undergoing bunionectomy.
    • Marketing application submission for HTX-019 to prevent postoperative nausea and vomiting in adults is planned for late 2021.
    • See Benzinga's FDA Calendar
  • The company held cash and equivalents of $166.5 million, which will be sufficient to fund its operations into 2022. It used $41.9 million in operating cash flow.
  • Guidance: For FY2021, the company sees product sales for the oncology care franchise of $130 million - $145 million.
  • Price Action: HRTX shares are up 9.4% at $18.20 during the market trading hours on the last check Monday.