HERON THERAPEUTICS, INC. /DE/
HRTXNasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $154.9M | $144.3M | $127.0M | $107.7M | $86.3M | $88.6M |
| Operating income | −$2.5M | −$11.5M | −$110.6M | −$174.7M | −$217.8M | −$228.2M |
| Net income | −$20.2M | −$13.6M | −$110.6M | −$182.0M | −$220.7M | −$227.3M |
| Total assets | $255.9M | $233.1M | $222.5M | $251.0M | $305.7M | $353.6M |
| Total liabilities | $241.5M | $266.8M | $256.5M | $237.4M | $228.1M | $117.1M |
| Equity | $14.3M | −$33.7M | −$34.0M | $13.6M | $77.6M | $236.5M |
| EPS (diluted) | $-0.12 | $-0.09 | $-0.80 | $-1.67 | $-2.24 | — |
| Shares out. | 152.3M | 150.3M | 119.3M | 102.1M | 91.4M | 90.4M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −1.6%
- Net margin
- −13.0%
- Return on equity
- −140.9%
- Return on assets
- −7.9%
- Return on capital (ROCE)
- −1.6%
- Liabilities / assets
- 94.4%
- Debt / equity
- 16.85×
- Book value / share
- $0.09
- Revenue growth (YoY)
- 7.4%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -21.08distress
- Accruals / assets
- 2.9%clean
- Beneish M-Score
- -2.36normal
- Piotroski F-Score
- 3/9weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 severe● 4 warning● 2 good- Altman Z″ in the distress zone
- Operating losses (negative operating margin)
- Reported a net loss
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Revenue is growing year-over-year
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Adage Capital Management, L.P.Passive (13G)May 13, 2026
- Vanguard Group IncPassive (13G)Mar 27, 2026
- Clearline Capital LpPassive (13G)Feb 17, 2026
- Rubric Capital Management LpActivist (13D)Oct 17, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Hensley Mark EarlOfficer — Chief Operating Officer | May 6, 2026 | Option exercise | 125,000 | — |
| Hensley Mark EarlOfficer — Chief Operating Officer | Apr 30, 2026 | Option exercise | 11,770 | — |
| Forbes William POfficer — EVP, Chief Development Officer | Apr 30, 2026 | Option exercise | 11,694 | — |
| Duarte IraOfficer — EVP, Chief Financial Officer | Apr 30, 2026 | Option exercise | 11,694 | — |
| Collard Craig AOfficer — Chief Executive Officer | Apr 30, 2026 | Option exercise | 34,789 | — |
| Forbes William POfficer — EVP, Chief Development Officer | Apr 19, 2026 | Option exercise | 3,874 | — |
| Collard Craig AOfficer — Chief Executive Officer | Apr 19, 2026 | Option exercise | 13,797 | — |
| Duarte IraOfficer — EVP, Chief Financial Officer | Apr 19, 2026 | Option exercise | 3,874 | — |
| Collard Craig AOfficer — Chief Executive Officer | Apr 3, 2026 | Option exercise | 62,500 | — |
| Christian WaageDirector | Jan 30, 2026 | Grant | 53,960 | $0.00 |
| Kaseta MichaelDirector | Jan 30, 2026 | Grant | 53,960 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 39.7M | 14.0 | -2.9% |
| Apr 30, 2026 | 40.9M | 17.8 | -0.7% |
| Apr 15, 2026 | 41.1M | 26.8 | +4.4% |
| Mar 31, 2026 | 39.4M | 18.4 | +7.0% |
| Mar 13, 2026 | 36.8M | 19.4 | -0.8% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsMay 11, 2026
- Director / officer changeApr 6, 2026
- Results of operationsFeb 26, 2026
- Regulation FD disclosureJan 9, 2026
- Results of operationsNov 4, 2025
- Director / officer change · Regulation FD disclosureOct 29, 2025
- Shareholder voteOct 15, 2025
- Entered a material agreementAug 28, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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