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Heron Therapeutics

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Postoperative pain and oncology care therapeutic solutions

Cary, United StatesFounded 1983Health
Valuation $223M Market cap · 2026
Revenue $166M Latest reported FY
EBITDA $3.1M Latest reported FY

About Heron Therapeutics

The story of what we now know as Heron Therapeutics begins not in the 2000s, but back in 1983, when it was incorporated as A.P. Pharma, Inc. For decades, the specialty pharmaceutical company worked on developing products using a proprietary drug delivery platform. This technology, called Biochronomer, was designed to improve injectable drugs by allowing them to be administered less frequently. The company's major turning point came in the early 2010s. In August 2013, with Barry Quart at the helm as CEO, the company announced a significant corporate rebranding. It filed to list on the NASDAQ and planned to change its name from A.P. Pharma to Heron Therapeutics, a move that became official in January 2014. This wasn't just a name change; it signaled a strategic refocus on developing and commercializing best-in-class therapies, particularly in oncology and postoperative care. This new chapter saw Heron transition from a development-stage company to a commercial one. It launched key products for managing chemotherapy-induced nausea and vomiting (CINV), such as SUSTOL and CINVANTI. A major milestone was the 2021 FDA approval of ZYNRELEF, a non-opioid treatment for postoperative pain. Heron is now a publicly-traded company on the NASDAQ under the ticker HRTX. Through strategic rebranding and a focused execution on unmet needs in patient care, the company carved out its modern identity.

Source: Dealroom company data

At a glance

Status
Listed
Founded
1983
Headquarters
Cary, United States
Listing
IPO 1987
Employees
182
Open positions
3
Dealroom signal
27.9/100
Industry
Health
Sector
Health
Business model
Manufacturing
Client focus
B2B

Funding history

10 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
POST IPO CONVERTIBLE✓Other financing Aug 2025 $125M — Undisclosed ↗
POST IPO DEBT✓Debt Aug 2025 $110M — Hercules Capital ↗
Showing the latest 2 of 10 recorded eventsBook a demo for the full funding history →

Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

YearRevenueGrowthEBITDAMarginProfitMarginR&D
2026 $148M -4.3% $3.1M 2.1% −$20M -13.6% $12M
2025 $155M +7.4% $3.1M 2% −$20M -13% $12M
2024 $144M +13.6% −$5.1M -3.5% −$14M -9.4% $17M
2023 $127M +18% −$104M -81.7% $56M
2022 $108M +24.7% −$175M -162.2%
2021 $86M -2.6% −$218M -252.3%
2020 $89M — −$228M -257.4%
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Growth signals

Heron Therapeutics website traffic

Latest recorded traffic for Heron Therapeutics is 79K monthly website visits. Heron Therapeutics's team declined 42.4% over the past year.

Latest monthly visits79K 1-year team growth-42.4%
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Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Heron Therapeutics in the Cary ecosystem

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Investors

7 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later1 investor entered at this stage

  • Hercules Capital

Other known investors6 additional known investors

  • Broadfin
  • Clearline Capital
  • Deep Track Capital
  • Great Point Partners
  • Rubric Capital Management
  • Velan Capital
Team profiled 14 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 4 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
1 countries with
team presence
🇺🇸 United States100%
1 country shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Heron Therapeutics on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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