Q2 2026 Heron Therapeutics Inc Earnings Call Transcript
Key Points
- Total net revenue grew to $37.7 million in Q2 2026, up from $34.7 million in Q1 2026.
- ZYNRELEF net sales increased 35% year-over-year, with average daily units up 19%.
- APONVIE net sales grew 74% year-over-year, reaching 23% share of the surgical NK1 segment.
- Adjusted EBITDA improved to $3.2 million in Q2 2026, up from $2.2 million in the prior year quarter.
- The company successfully amended its credit facility with Hercules, resetting covenants through 2027 and reducing principal.
- Net revenue fell short of company expectations, with both CINVANTI and ZYNRELEF growing slower than anticipated.
- CINVANTI net sales declined about 10% year-over-year due to branded competition.
- The June court decision regarding CINVANTI patents negatively impacted the company's outlook, leading to a pause in salesforce expansion.
- The company withdrew its full-year 2026 guidance due to uncertainty from potential generic competition and strategic alternatives.
- Cash position decreased significantly, with pro forma cash at approximately $28.5 million, down from $42.7 million at quarter end.
Good day. Thank you for standing by. Welcome to the Heron Therapeutics second quarter 2026 earnings conference call. (Operator Instructions) Please be advised today's conference is being recorded.
I would now like to turn the conference over to speaker today. Melissa Jarel, please go ahead.
Thank you, operator. Good morning, everyone. Thank you for joining us on the Heron Therapeutics conference call today to discuss the company's financial results for the second quarter of 2026.
With me today from Heron are Craig Collard, Chief Executive Officer, Ira Duarte, Executive Vice President, Chief Financial Officer, Bill Forbes, Executive Vice President, Chief Development Officer, Mark Hensley, Chief Operating Officer, and Kevin Warner, Senior Vice President, Medical Affairs Strategy and Engagement. For those of you participating via conference call, slides are made available via webcast and can also be accessed via the investor relations page of our website following the conclusion of
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