HERON THERAPEUTICS, INC. /DE/

HRTX

HERON THERAPEUTICS, INC. /DE/

HRTX

Insider Sentiment (TTM):

Last Purchase:2025-08-08Last Sale:-Shares Purchased (TTM):0Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:155,986,816Shares Outstanding:189,646,000Institutional Ownership Pct.:82.25%

Earnings Market Reaction:

Filing Date:2026-08-10Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	21	26	29	43	17	19	26	26	18	20	29	35
Available For Sale Securities Debt Securities Curr…	22	19	18	12	24	31	33	45	49	51	52	43
Accounts Receivable Net Current	90	84	90	81	80	79	79	67	74	65	60	64
Inventory Net	91	93	93	70	73	57	53	46	43	42	42	42
Prepaid Expense And Other Assets Current	7	8	9	23	17	26	18	11	7	7	6	11
Assets Current	230	229	238	229	211	213	209	195	191	186	189	194
Property Plant And Equipment Net	12	12	12	13	14	15	15	15	16	19	20	21
Operating Lease Right Of Use Asset	-	-	0	1	1	2	3	3	4	5	5	6
Other Assets Noncurrent	5	5	5	6	6	6	6	7	7	8	8	8
Assets	252	246	256	249	232	236	233	221	218	218	223	229
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	12	9	9	12	12	12	12	10	10	1	3	2
Employee Related Liabilities Current	7	6	9	9	6	6	10	9	7	8	9	10
Convertible Notes Payable Current	-	-	-	-	150	-	-	-	-	-	-	-
Other Accrued Liabilities Current	51	50	51	49	46	47	42	41	42	44	42	40
Operating Lease Liability Current	-	-	0	1	2	2	3	3	3	3	3	3
Liabilities Current	92	91	96	90	259	89	91	86	80	75	80	80
Operating Lease Liability Noncurrent	-	-	-	-	-	-	-	1	1	2	3	4
Convertible Long Term Notes Payable	34	33	33	32	-	150	150	150	150	150	149	149
Other Liabilities Noncurrent	5	5	5	5	1	1	1	0	0	0	0	0
Liabilities	245	237	242	234	259	264	267	261	256	252	256	257
Stockholders Equity
Common Stock Value	2	2	2	2	2	2	2	2	2	2	2	1
Preferred Stock Value	1	1	1	8	-	-	0	-	-	-	-	-
Additional Paid In Capital	1,957	1,954	1,951	1,942	1,891	1,887	1,884	1,882	1,879	1,874	1,871	1,866
Accumulated Other Comprehensive Income Loss Net Of…	-0	-0	0	0	-0	0	0	0	-0	-0	0	-0
Retained Earnings Accumulated Deficit	-1,953	-1,948	-1,940	-1,937	-1,919	-1,917	-1,920	-1,923	-1,918	-1,909	-1,906	-1,895
Stockholders Equity	7	9	14	15	-27	-28	-34	-40	-38	-34	-34	-28
Liabilities And Stockholders Equity	252	246	256	249	232	236	233	221	218	218	223	229
Common Stock Par Or Stated Value Per Share	-	-	0.01	-	-	-	0.01	-	-	-	0.01	-
Common Stock Shares Authorized	-	-	400	-	-	-	400	-	-	-	225	-
Common Stock Shares Issued	-	-	188	-	-	-	152	-	-	-	150	-
Shares Outstanding	-	-	188	-	-	-	152	-	-	-	150	-
Preferred Stock Par Or Stated Value Per Share	-	-	0.01	-	-	-	0.01	-	-	-	0.01	-
Preferred Stock Shares Authorized	-	-	3	-	-	-	3	-	-	-	3	-
Preferred Stock Shares Issued	-	-	0	-	-	-	0	-	-	-	0	-
Preferred Stock Shares Outstanding	-	-	0	-	-	-	0	-	-	-	0	-

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10‑Q10‑K

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Interactive Financial Visualizations

10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-55.21%	-54.17%	-47.92%	-	-	-	-	-	-	-	-	-
2025	-22.31%	-11.57%	-21.07%	2.27%	-8.33%	-9.09%	1.75%	12.28%	24.56%	-35.00%	-16.67%	-29.17%
2024	28.92%	21.95%	6.27%	-27.72%	-25.47%	-30.71%	26.56%	29.69%	32.81%	16.10%	-10.24%	-3.90%
2023	-	-	-	-14.57%	-33.77%	-50.33%	175.93%	227.78%	342.59%	16.53%	10.59%	56.78%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	2.49	2.53	2.48	2.56	0.82	2.40	2.29	2.28	2.38	2.47	2.37	2.43
Quick Ratio	1.44	1.42	1.42	1.52	0.47	1.46	1.51	1.61	1.76	1.82	1.76	1.77
Working Capital	137.70M	138.47M	141.97M	139.69M	-47.68M	124.28M	117.56M	109.64M	110.85M	110.53M	109.09M	114.23M
Leverage & Debt
Debt to Equity	35.52	25.95	16.85	15.72	-9.51	-9.29	-7.93	-6.52	-6.75	-7.45	-7.55	-9.25
Debt Ratio	0.97	0.96	0.94	0.94	1.12	1.12	1.14	1.18	1.17	1.15	1.15	1.12
Efficiency & Turnover
Asset Turnover TTM	0.62	0.63	0.63	0.66	0.66	0.65	0.63	0.61	0.65	0.60	0.54	0.49
Days Sales Outstanding TTM	204.62	196.69	198.48	174.25	187.31	177.02	175.84	173.35	201.29	161.32	161.16	157.46
Receivables Turnover TTM	1.78	1.86	1.84	2.09	1.95	2.06	2.08	2.11	1.81	2.26	2.26	2.32
Per Share Metrics
Diluted EPS TTM	-0.18	-0.16	-0.12	-0.08	-0.01	-0.04	-0.09	-0.18	-0.32	-0.54	-0.80	-0.83
Free Cash Flow Per Share TTM	-0.06	-0.11	-0.17	-0.18	-0.19	-0.15	-0.16	-0.06	-0.15	-0.30	-0.44	-0.69
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	70.07%	71.12%	73.31%	73.92%	74.61%	73.97%	73.21%	72.19%	65.49%	57.08%	48.75%	63.94%
Operating Profit Margin TTM	-7.19%	-6.94%	-1.64%	1.03%	0.82%	-2.41%	-7.99%	-18.82%	-34.02%	-62.34%	-87.07%	-98.30%
Net Profit Margin TTM	-22.52%	-20.53%	-13.04%	-8.75%	-0.62%	-5.24%	-9.41%	-20.30%	-35.29%	-61.28%	-87.02%	-97.45%
Growth Metrics
Net Revenue Growth (1Y)	0.99%	1.48%	7.36%	12.60%	9.78%	12.43%	13.57%	12.13%	15.60%	16.05%	17.99%	24.96%
Net Income Growth (1Y)	3,557.25%	297.44%	48.71%	-51.45%	-98.07%	-90.38%	-87.72%	-76.64%	-64.77%	-46.36%	-39.26%	-44.79%
EPS Growth (1Y)	2,859.46%	221.67%	35.99%	-56.44%	-98.09%	-90.53%	-88.87%	-77.84%	-72.31%	-57.69%	-52.13%	-57.45%
Valuation Metrics
P/E TTM	-2.40	-4.90	-10.73	-15.81	-342.45	-43.38	-17.18	-10.87	-11.08	-5.17	-2.12	-1.25
P/B TTM	11.85	16.60	15.12	14.42	-11.70	-11.87	-6.93	-7.60	-14.05	-12.40	-6.91	-5.37
P/S TTM	0.54	1.01	1.40	1.38	2.13	2.27	1.62	2.21	3.91	3.17	1.85	1.22
Market Cap	81.84M	151.72M	216.72M	214.64M	318.82M	337.68M	233.25M	304.13M	533.07M	418.82M	234.83M	149.34M
Enterprise Value	95.05M	158.93M	220.81M	203.75M	452.11M	468.16M	357.14M	428.04M	664.28M	547.91M	355.64M	263.92M
Calculated Values
Free Cash Flow TTM	-12.14M	-20.86M	-27.91M	-31.14M	-29.53M	-23.70M	-24.24M	-9.61M	-22.52M	-44.95M	-60.56M	-100.71M
Net Debt	13.20M	7.21M	4.09M	-10.89M	133.29M	130.48M	123.90M	123.91M	131.21M	129.09M	120.81M	114.58M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2025-08-08Purchase

Owner: Morgan, Adam

Title: -

Shares: 1,766,546

Price/Share: $1.50

Value: $2,649,819.00

Shares Owned: 8,753,290

Relationship: Director

Ownership: Indirect

2025-08-08Purchase

Owner: Rosen, David Efraim, Rubr…

Title: -

Shares: 2,387,225

Price/Share: $1.50

Value: $3,580,837.50

Shares Owned: 29,100,728

Relationship: TenPercentOwner

Ownership: Indirect

2023-11-17Purchase

Owner: Forbes, William P

Title: EVP, Chief Development Officer

Shares: 25,000

Price/Share: $1.09

Value: $27,250.00

Shares Owned: 79,000

Relationship: Officer

Ownership: Direct

2023-11-16Purchase

Owner: Collard, Craig A

Title: Chief Executive Officer

Shares: 150,000

Price/Share: $0.92

Value: $138,000.00

Shares Owned: 186,496

Relationship: Director,Officer

Ownership: Direct

2023-11-16Purchase

Owner: Forbes, William P

Title: EVP, Chief Development Officer

Shares: 50,000

Price/Share: $0.94

Value: $47,000.00

Shares Owned: 54,000

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2025-08-08	Morgan, Adam	Director	-	Indirect	Purchase	1,766,546	1.50	$2,649,819.00	8,753,290	4
2025-08-08	Rosen, David Efraim, Rubr…	TenPercentOwner	-	Indirect	Purchase	2,387,225	1.50	$3,580,837.50	29,100,728	4
2023-11-17	Forbes, William P	Officer	EVP, Chief Development Officer	Direct	Purchase	25,000	1.09	$27,250.00	79,000	4
2023-11-16	Collard, Craig A	Director,Officer	Chief Executive Officer	Direct	Purchase	150,000	0.92	$138,000.00	186,496	4
2023-11-16	Forbes, William P	Officer	EVP, Chief Development Officer	Direct	Purchase	50,000	0.94	$47,000.00	54,000	4
2023-11-16	Duarte, Ira	Officer	EVP, Chief Financial Officer	Direct	Purchase	85,000	0.89	$75,650.00	85,000	4
2023-07-21	Morgan, Adam	Director	-	Indirect	Purchase	2,486,744	1.37	$3,406,839.28	6,986,744	4
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Institutional Ownership

No data available for chart

2026-03-31

82.25%

Inst. Shares: 155,986,816

Shares Outstanding: 189,646,000

2025-12-31

93.60%

Inst. Shares: 156,032,731

Shares Outstanding: 166,707,000

2025-09-30

89.37%

Inst. Shares: 152,234,547

Shares Outstanding: 170,348,000

2025-06-30

81.76%

Inst. Shares: 125,922,510

Shares Outstanding: 154,020,000

2025-03-31

77.85%

Inst. Shares: 119,497,323

Shares Outstanding: 153,490,000

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	155,986,816	189,646,000	82.25%
2025-12-31	156,032,731	166,707,000	93.60%
2025-09-30	152,234,547	170,348,000	89.37%
2025-06-30	125,922,510	154,020,000	81.76%
2025-03-31	119,497,323	153,490,000	77.85%
2024-12-31	113,134,725	152,449,000	74.21%
2024-09-30	118,817,713	152,830,000	77.75%
2024-06-30	126,842,115	152,305,000	83.28%
2024-03-31	114,689,242	151,199,000	75.85%
2023-12-31	107,608,673	138,135,000	77.90%
2023-09-30	101,080,047	144,990,000	69.72%
2023-06-30	96,103,581	119,719,000	80.27%
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HERON THERAPEUTICS, INC. /DE/ (HRTX) — SEC Financial Statements & Analysis

HERON THERAPEUTICS, INC. /DE/ (HRTX) is a pharmaceutical preparations company, incorporated in DE. HERON THERAPEUTICS, INC. /DE/ trades on Nasdaq as: HRTX. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), HERON THERAPEUTICS, INC. /DE/ reported a 0.99% year-over-year revenue growth, a Gross Profit Margin of 70.07% (TTM), a Debt-to-Equity ratio of 35.52x, a Price-to-Sales (P/S) ratio of 0.54x (TTM), a Price-to-Book (P/B) ratio of 11.85x (TTM), at a market cap of $81.84M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 0.99%
Gross Profit Margin TTM: 70.07%
Debt To Equity: 35.52x
P/S TTM: 0.54x
P/B TTM: 11.85x
Market Cap: $81.84M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is HERON THERAPEUTICS, INC. /DE/ in?

HERON THERAPEUTICS, INC. /DE/ (HRTX) operates in the Pharmaceutical Preparations industry.

What is HRTX's market cap?

HERON THERAPEUTICS, INC. /DE/ (HRTX) has a market capitalization of $81.84M as of 2026-06-30.

What exchange does HRTX trade on?

HERON THERAPEUTICS, INC. /DE/ (HRTX) trades on the Nasdaq.

Where is HERON THERAPEUTICS, INC. /DE/ incorporated?

HERON THERAPEUTICS, INC. /DE/ is incorporated in DE.