Heron Therapeutics Q3 net revenue falls 7.8%, to sell all assets to CorMedix

Overview

• US biotechnology company's Q3 net revenue fell 7.8% yr/yr to $35.3 mln

• Acute care franchise revenue rose, but oncology supportive care revenue declined

• Company agreed to sell substantially all assets to CorMedix, pending shareholder approval

Outlook

• Company withdrew full-year 2026 financial guidance in August and is not providing guidance now

• Company has agreed to sell substantially all assets to CorMedix Therapeutics, pending shareholder approval

Result Drivers

• ACUTE CARE GROWTH - Revenue from acute care products, including ZYNRELEF and APONVIE, increased in Q3 2026

• ONCOLOGY DECLINE - Oncology supportive care revenue fell, driven by lower CINVANTI sales and the end of SUSTOL commercial sales

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)