Heron Stock Trading Higher After Q1 Earnings, Ahead Of HTX-011 Decision Scheduled This Week

  • Heron Therapeutics Inc HRTX posted Q1 oncology care net product sales of $20 million, compared to $25.4 million a year ago, due to reduced cancer screening procedures and new patient treatment starts as a result of the pandemic.
  • Heron believes that the number of patients receiving cancer treatment will begin to return to normal levels after the vaccine rollout.
  • Pipeline Highlights:
    • HTX-011 marketing application for postoperative pain is under review, with a PDUFA goal date of May 12.
    • In March, the company initiated an expanded Phase 2 study of HTX-034 to treat postoperative pain in patients undergoing bunionectomy.
    • Marketing application submission for HTX-019 to prevent postoperative nausea and vomiting in adults is planned for late 2021.
    • See Benzinga's FDA Calendar
  • The company held cash and equivalents of $166.5 million, which will be sufficient to fund its operations into 2022. It used $41.9 million in operating cash flow.
  • Guidance: For FY2021, the company sees product sales for the oncology care franchise of $130 million - $145 million.
  • Price Action: HRTX shares are up 9.4% at $18.20 during the market trading hours on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: BiotechEarningsNewsGuidanceHealth CareSmall CapGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!