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Heron Therapeutics (Nasdaq: HRTX) | Company Profile, History, Competitors

 

Heron Therapeutics (NASDAQ: HRTX) is a therapeutics drug company with several pipeline drugs under development. It was founded in 1983 and headquartered in Redwood City, CA.

Heron Therapeutics has a proprietary biochronomer drug delivery technology to delivery therapeutic levels of short-acting pharmacologic agents over day and weeks with a single injection. It's leading drug candidate is HTX-011 which helps manage post-operative pain without the use of opioids.

Key Product Portfolio (2017)


 Brand    Status      Description
 Sustol Launched Oct 2016 Long-acting 5-HT3 antagonist used to prevent CINV
 Cinvanti Approved 2017 Intravenous formulation of aprepitant, an NK1 receptor antagonist
 HTX-011 Phase 3 Long-acting anesthestic combination of bupivacaine + meloxicam

HTX-011 Drug Candidate

HTX-011 is the leading product for Heron Therapeutics. It targets the local anesthetics market, where there is not a solution for longer-acting pain control. HTX-011 is administered via "installation" which applies directly to the wound site for managing post-operative pain.

Currently in the United States, over 28 million surgeries require prescription pain management. There remains an unmet need for longer duration pain control in order to avoid opioids use. In 2016, the CDC issued guidelines for reducing opioid use. General anesthetics have short efficacy, thus use of opioids remain often necessary today.

Risks

HTX-011 is undergoing Phase 3 trials. Phase 3 data may not support prior Phase 2 data.

Heron's CINV products may not ramp up as quickly as expected.

Management

Barry Quart, Pharm. D. (CEO): Barry Quart serves as CEO since 2013. Prior, he co-founded and was CEO of Adea Biosciences. He received a Pharm. D. degree from the University of California, San Francisco.

Robert Hoffman (CFO): Robert Hoffman serves as CFO since 2017. Prior, he was CFO of Innovus Pharmaceuticals, AnaptysBio and Polaris Group. He received a BA from St. Bonaventure University.

Financials

 $ in millions    2013    2014 2015 2016 2017
 Revenues $0 $0 $0 $1 $39 
 Gross Profit$0 $0 $0 $1 $26 
 Operating Profit ($55)($76) ($98) ($101)  ($198)
 Net Income ($55)($76)($98) ($173) ($198)
 EPS ($3.42) ($2.87)($2.95)($4.56)($3.65)