Company: HRTX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028374
Chunk: 178

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 178
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 returns, we tested the third-party reports used by management for completeness and accuracy.

Additionally, we tested the mathematical accuracy of management’s calculation of revenue, net of product sales allowances, including product returns, and the associated timing of revenue recognition, in the consolidated financial statements.

 /s/ WithumSmith+Brown, PC

We have served as the Company's auditor since 2006.

Orlando, Florida

February 27, 2025

PCAOB ID Number 100

73

HERON THERAPEUTICS, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except par value and share amounts)

    December 31,2024

    December 31,2023

    ASSETS

    Current assets:

    Cash and cash equivalents
     
    $
    25,802

    $
    28,677

    Short-term investments

    33,481

    51,732

    Accounts receivable, net

    78,881

    60,137

    Inventory, net

    53,160

    42,110

    Prepaid expenses and other current assets

    17,690

    6,118

    Total current assets

    209,014

    188,774

    Property and equipment, net

    14,863

    20,166

    Right-of-use lease assets

    2,787

    5,438

    Other assets

    6,483

    8,128

    Total assets
     
    $
    233,147

    $
    222,506

    LIABILITIES AND STOCKHOLDERS’ DEFICIT

    Current liabilities:

    Accounts payable
     
    $
    11,709

    $
    3,240

    Accrued clinical and manufacturing liabilities

    25,402

    22,291

    Accrued payroll and employee liabilities

    9,554

    9,224

    Other accrued liabilities

    41,755

    41,855

    Current lease liabilities

    3,037

    3,075

    Total current liabilities

    91,457

    79,685

    Non-current lease liabilities

    —

    2,800

    Non-current notes payable, net

    25,026

    24,263