Heron Therapeutics: Q3 Earnings Snapshot
Tuesday, Nov 12, 2024 8:17 am ET
3min read Heron Therapeutics, a commercial-stage biotechnology company, recently announced its third-quarter 2024 financial results and highlighted recent corporate updates. The company reported positive Adjusted EBITDA of $1.4 million year-to-date (YTD) 2024, driven by strong revenue growth and prudent financial management. Heron expects Q4 2024 Net Revenue in the range of $37 million to $43 million, reflecting the company's strategic advancements and regulatory wins.
Heron's flagship product, ZYNRELEF, an extended-release solution for post-surgical pain management, has been a significant driver of revenue growth. The FDA approval of the ZYNRELEF Vial Access Needle (VAN) in September 2024 simplified aseptic preparation and reduced withdrawal time, positioning ZYNRELEF for substantial growth within the surgical setting. Additionally, ZYNRELEF's inclusion in the CMS Final Rule Non-Opioid Policy for Pain Relief ensures separate payment in both hospital outpatient departments and ambulatory surgical centers, further boosting its market penetration.
The ZYNRELEF VAN is expected to launch in Q4 2024, further enhancing the product's appeal to healthcare providers. The VAN's potential to simplify aseptic preparation and reduce withdrawal time, coupled with the CMS policy, sets the stage for significant growth in the surgical setting.
Heron's strategic partnerships, such as the CrossLink rollout, have also played a crucial role in driving revenue growth. The company's acute care franchise, which includes ZYNRELEF and APONVIE, contributed to Q3 revenue, with Net Product Sales reaching $19.7 million, up from $12.9 million in 2023.
Heron's oncology care franchise, which includes CINVANTI, also performed well, with Net Product Sales of $83.8 million for the nine months ended September 30, 2024, compared to $79.9 million in the same period in 2023.
In conclusion, Heron Therapeutics' Q3 earnings snapshot reflects the company's strategic advancements and regulatory wins, particularly with its flagship product, ZYNRELEF. The FDA approval of the VAN, CMS inclusion, and strategic partnerships have driven revenue growth and positioned Heron for continued success in the surgical setting. With a positive outlook on Q4 2024 Net Revenue and a strong financial guidance for full-year 2024, Heron Therapeutics is well-positioned to capitalize on emerging opportunities in the biotechnology sector.
Heron's flagship product, ZYNRELEF, an extended-release solution for post-surgical pain management, has been a significant driver of revenue growth. The FDA approval of the ZYNRELEF Vial Access Needle (VAN) in September 2024 simplified aseptic preparation and reduced withdrawal time, positioning ZYNRELEF for substantial growth within the surgical setting. Additionally, ZYNRELEF's inclusion in the CMS Final Rule Non-Opioid Policy for Pain Relief ensures separate payment in both hospital outpatient departments and ambulatory surgical centers, further boosting its market penetration.
The ZYNRELEF VAN is expected to launch in Q4 2024, further enhancing the product's appeal to healthcare providers. The VAN's potential to simplify aseptic preparation and reduce withdrawal time, coupled with the CMS policy, sets the stage for significant growth in the surgical setting.
Heron's strategic partnerships, such as the CrossLink rollout, have also played a crucial role in driving revenue growth. The company's acute care franchise, which includes ZYNRELEF and APONVIE, contributed to Q3 revenue, with Net Product Sales reaching $19.7 million, up from $12.9 million in 2023.
Heron's oncology care franchise, which includes CINVANTI, also performed well, with Net Product Sales of $83.8 million for the nine months ended September 30, 2024, compared to $79.9 million in the same period in 2023.
In conclusion, Heron Therapeutics' Q3 earnings snapshot reflects the company's strategic advancements and regulatory wins, particularly with its flagship product, ZYNRELEF. The FDA approval of the VAN, CMS inclusion, and strategic partnerships have driven revenue growth and positioned Heron for continued success in the surgical setting. With a positive outlook on Q4 2024 Net Revenue and a strong financial guidance for full-year 2024, Heron Therapeutics is well-positioned to capitalize on emerging opportunities in the biotechnology sector.
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