Heron Therapeutics posts higher Q3 revenue, backs FY forecasts

Overview

• Heron Q3 2025 net revenue rises 16.5% yr/yr to $38.2 mln

• ZYNRELEF Q3 2025 net revenue grows 49% yr/yr, driven by new initiatives

• APONVIE Q3 2025 net revenue increases 173% yr/yr, boosted by sales team launch

Outlook

• Heron reaffirms 2025 net revenue guidance of $153 mln to $163 mln

• Company maintains 2025 adjusted EBITDA guidance of $9 mln to $13 mln

• Heron sees increased demand driven by new commercial initiatives

Result Drivers

• ZYNRELEF GROWTH - Revenue grew 49% in Q3 2025, driven by the launch of the Vial Access Needle and enhanced distributor incentives

• APONVIE GROWTH - Revenue increased 173% in Q3 2025, supported by increased adoption and a new dedicated sales team

• ACUTE CARE FRANCHISE - Delivered 67.2% revenue growth yr/yr in Q3 2025, reflecting commercial acceleration

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Heron Therapeutics Inc is $5.00, about 76.4% above its November 3 closing price of $1.18

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 55 three months ago

Press Release: ID:nGNX8s0ZBP

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