Heron Therapeutics demonstrated strong momentum in Q4 2025, driven by significant growth in its Acute Care franchise, particularly ZYNRELEF and APONVIE. The company is entering 2026 with improved commercial execution, expanding demand, and clearer reimbursement, positioning it for continued revenue expansion.
Acute Care franchise revenue grew 57.3% year-over-year in Q4 2025 and 65.1% year-over-year for the full year 2025.
positiveZYNRELEF and APONVIE received permanent, product-specific J-Codes, streamlining reimbursement and improving billing clarity.
positiveFull-year 2025 net revenue reached $154.9 million, a 7.4% increase year-over-year.
positiveAPONVIE revenue grew 156.1% year-over-year for the full year 2025.
positiveInventory levels increased significantly from $53.2 billion in FY2024 to $92.7 billion in FY2025, a 74% increase, outpacing overall revenue growth.
attentionOncology franchise revenue declined 7.8% year-over-year for the full year 2025, with CINVANTI down 3.3% and SUSTOL down 39.9%.
negativeTotal net revenue for Q4 2025 decreased slightly by 0.5% year-over-year, despite strong performance in the Acute Care segment.
attentionNet loss for the twelve months ended December 31, 2025, was $20.2 million, compared to a net loss of $13.6 million in the prior year.
negativeOperating income for the twelve months ended December 31, 2025, was a loss of $2.5 million, compared to a loss of $11.5 million in the prior year, indicating continued operational challenges.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Acute Care | N/A | — | — | — |
Oncology | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Entering 2026 with exceptional momentum, driven by the strongest Q4 results in the history of Heron’s Acute Care franchise.
Strategic decisions implemented to unlock the full potential of ZYNRELEF and APONVIE are accelerating adoption and strengthening competitive position.
ZYNRELEF milestones include J-Code approval, Vial Access Needle transition completion, and enhanced distributor incentives.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.