Heron Therapeutics (HRTX) Q3 2026 earnings summary

Executive summary

• Q3 2026 net revenue was $35.250M, down 7.8% YoY; Acute Care growth was offset by lower Oncology revenue.

• A definitive agreement was signed Nov. 8 for CorMedix to acquire substantially all operating assets; closing is expected in Q1 2027, subject to stockholder approval and other conditions.

Financial highlights

• Q3 gross profit was $26.292M vs. $26.299M YoY; 9M gross profit was $76.5M vs. $84.1M.

• Q3 net loss was $5.006M vs. $17.495M; 9M net loss was $18.6M vs. $17.2M. Q3 2025 included an $11.339M debt-extinguishment loss.

• Adjusted EBITDA was $3.700M in Q3 vs. $1.542M; 9M Adjusted EBITDA was $6.224M vs. $9.530M.

• 9M net product sales were $107.6M vs. $114.3M.

Outlook and guidance

• 2026 full-year financial guidance was withdrawn in August; no guidance is currently being provided.

• Available cash and short-term investments were expected to cover anticipated operating needs for at least one year from issuance, but covenant compliance may require additional funding or a waiver.

• Following the asset-sale closing, plans are to assess strategic transactions and investments; future business choices and revenue prospects remain uncertain.