Heron Therapeutics Inc (FRA:AXD2)

Q4 2025 Heron Therapeutics Inc Earnings Call Transcript

Feb 26, 2026 / 01:30 PM GMT

Release Date Price: €0.894 (-1.70%)

Transcript 10-K8-K

Key Points

Positve

Heron Therapeutics Inc (HRTX) successfully completed its financing, eliminating a significant overhang and allowing management to focus on commercial execution and growth.
The company reported strong financial performance with approximately $155 million in total net revenues and an adjusted EBITDA of $14.7 million, exceeding guidance.
Gross margin improved to approximately 73%, reflecting better cost discipline and product mix.
The acute care portfolio saw significant growth, with Zenerlef and Apovi delivering 48% and 97% net revenue growth respectively in Q4 2025 compared to Q4 2024.
Heron Therapeutics Inc (HRTX) plans to expand its commercial team in key markets, leveraging existing success factors to drive further growth and revenue.

Negative

The oncology franchise experienced a 7.8% decline in net revenue compared to 2024, primarily due to the planned wind down of Sustall.
There is expected price erosion in the CINV franchise, which may offset unit volume growth.
The company anticipates that increased commercial investments may temporarily moderate EBITDA growth.
The prefilled syringe presentation for Zenerlef requires 12 months of stability testing, delaying potential approval until mid to late 2027.
Awareness and adoption of the No Pain Act have been slower than anticipated, requiring additional efforts to educate providers and streamline reimbursement processes.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HRTX.OQ - Heron Therapeutics Inc
Q4 2025 Heron Therapeutics Inc Earnings Call
Feb 26, 2026 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Heron Therapeutics Q4 2025 conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Melissa Garrell, executive Director of Legal. Please go ahead.

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