Heron Therapeutics’ shares plunged 34% following Q2 results as revenue growth fell short of expectations and management cut guidance amid heightened competition and patent uncertainties, signaling investor disappointment with the company’s cautious outlook and margin pressures.
- Total net revenue came in at $37.7 million, up sequentially but below company internal plans.
- ZYNRELEF grew 35% year-over-year with 19% growth in average daily units but adoption pace was slower than anticipated.
- APONVIE sales increased 74% year-over-year, reaching a 23% share of the surgical NK-1 segment, though still early in the adoption curve.
- CINVANTI revenue rose to $21.8 million from $20.5 million sequentially but was down about 10% year-over-year due to branded competition and patent litigation headwinds.
- Company halted sales force expansion and tightened spending following a court decision affecting CINVANTI patents; preparing for potential generic entry while considering strategic alternatives.
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