Heron Therapeutics reported third quarter 2026 revenue of $35.3 million, falling significantly short of the $52.4 million consensus estimate. While the company met EPS expectations with a $0.03 loss, the results were overshadowed by the announcement of a definitive agreement to sell substantially all of Heron's assets to CorMedix Therapeutics.
Key Highlights
- ZYNRELEF net revenue reached $10.6 million, representing 13.8% year-over-year growth but missing the $28.5 million analyst target by over 60%.
- Acute Care franchise revenue grew 22.5% to $15.1 million, bolstered by a 49.3% increase in APONVIE sales to $4.5 million.
- Oncology Supportive Care revenue declined 22.2% to $20.1 million as the company ceased commercial sales of SUSTOL on September 30, 2026.
- Total liquidity remains constrained with cash and short-term investments ending the quarter at $23.4 million, down from $46.6 million at year-end 2025.