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Heron Therapeutics, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing net product sales of $32.8 million, an increase from $31.4 million in the same quarter the previous year. The increase is attributed to higher sales of ZYNRELEF and APONVIE.
Cost of product sales for the quarter was $9.5 million, down from $18.2 million in the previous year. This decrease is due to lower inventory write-offs and reduced cost per unit for CINVANTI and ZYNRELEF.
Research and development expenses decreased to $4.5 million from $9.3 million, primarily due to decreased headcount and related costs.
General and administrative expenses were $12.4 million, compared to $15.9 million in the previous year, reflecting operational efficiencies and reduced headcount.
Sales and marketing expenses decreased to $11.0 million from $13.0 million, also due to reduced headcount and operational efficiencies.
The company reported a net loss of $4.8 million for the quarter, compared to $25.0 million in the previous year. This reduction is attributed to decreased operating expenses and improved sales.
Cash and cash equivalents at the end of the period were $25.7 million, with total cash, cash equivalents, and short-term investments amounting to $70.9 million.
Heron anticipates that its current cash and investments will be sufficient to meet its cash requirements for at least the next twelve months.
The filing also details ongoing legal proceedings related to patent infringement cases concerning CINVANTI and APONVIE with Fresenius Kabi, Mylan Pharmaceuticals (VTRS-1.36%), and Slayback Pharma LLC.
Heron continues to focus on its acute care and oncology care product portfolios, with ZYNRELEF and APONVIE contributing to its revenue growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Heron Therapeutics Inc. quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.