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Biotech Stock News Bite - Heron Therapeutics, Inc. (Nasdaq: HRTX) Higher on Fourth Quarter and Full-Year 2023 Financial Results

 

March 13, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com) Biotech Stock News Bites - Heron Therapeutics, Inc. (Nasdaq: HRTX), a commercial-stage biotechnology company, is on the NASDAQ top ten gainers list today trading at $3.1442, up $0.7842 for a gain of 33.23%. The stock's high was $3.22.

Heron announced financial results for the three and twelve months ended December 31, 2023 and highlighted recent corporate updates.

"In the fourth quarter of 2023, Heron saw continued positive momentum and an increased sales trajectory in both our acute care and oncology care franchises, illustrating how the strategic decisions made over the past year have positioned the Company for long-term success and profitability," said Craig Collard, Chief Executive Officer of Heron. "I am pleased to share this quarterly update and look forward to building upon what we achieved in the fourth quarter of 2023, providing substantial value and meaningful solutions in the acute care and oncology care settings."

Business Highlights

The ZYNRELEF Vial Access Needle ("VAN") program, to allow for the rapid preparation and administration of ZYNRELEF in the operating room, remains on track for a Prior Approval Supplement ("PAS") submission in Q2 2024 and an anticipated launch in the second half of 2024.

The ZYNRELEF Prefilled Syringe ("PFS"), to allow for immediate use of ZYNRELEF, continues to progress with an expected submission for approval in 2026.

Gross Margin improved to 71% for the quarter, up from 58% in the same period last year.

ZYNRELEF generated record quarterly revenues of approximately $5.6 million.

The CrossLink Life Sciences, LLC partnership finalized on January 7, 2024, will ultimately provide up to 650 additional sales representatives promoting ZYNRELEF to orthopedic surgeons.

Received FDA approval of our supplemental New Drug Application ("sNDA") for ZYNRELEF which expands the ZYNRELEF label to approximately 13 million procedures annually.

Read the company's full news and disclaimer here:

https://finance.yahoo.com/news/heron-therapeutics-announces-fourth-quarter-200500008.html

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