Company: HRTX
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000950170-25-105475
Chunk: 10

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 10
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(Unaudited)

1. BusinessWe are a commercial-stage biotechnology company focused on improving the lives of patients by developing and commercializing therapeutic innovations that improve medical care. Our advanced science, patented technologies, and innovative approach to drug discovery and development have allowed us to create and commercialize a portfolio of products that aim to advance the standard of care for acute care and oncology patients.ZYNRELEF® (bupivacaine and meloxicam) extended-release solution ("ZYNRELEF") is approved in the United States ("U.S.") for the management of postoperative pain. APONVIE® (aprepitant) injectable emulsion ("APONVIE") is approved in the U.S. for the prevention of postoperative nausea and vomiting. CINVANTI® (aprepitant) injectable emulsion ("CINVANTI") and SUSTOL® (granisetron) extended-release injection ("SUSTOL") are both approved in the U.S. for the prevention of chemotherapy-induced nausea and vomiting.  Liquidity and Capital Resources In accordance with Accounting Standards Codification ("ASC"), Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern (Subtopic 205-40), we have evaluated whether there are conditions or events, considered in the aggregate, that raise substantial doubt about our ability to continue as a going concern within one year after the date that the condensed consolidated financial statements included in this Quarterly Report on Form 10-Q are issued.As of June 30, 2025, we had cash, cash equivalents and short-term investments of $40.6 million. Our $150 million aggregate principal amount of 1.5% senior convertible notes (the “1.5% senior convertible notes”) were set to mature in May 2026 and the working capital facility agreement, dated August 9, 2023, that we entered into with Hercules Capital, Inc. as administrative agent and collateral agent, and the lenders party thereto (the “Working Capital Facility Agreement” and the facility thereunder, the “Working Capital Facility”) was set to mature in May 2026 at the earliest, subject to available extensions. As of June 30, 2025, we lacked the cash, cash equivalents and short-term investments to pay the 1.5% senior convertible notes and Working Capital Facility Agreement upon maturity. On August 8, 2025, we entered into a second amendment to the Working Capital Facility Agreement (the “Credit Facility”)