Company: HRTX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028374
Chunk: 103

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 103
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 sales, increased 0.2% during the same period, primarily driven by a 20.8% increase due to inventory 

66

reserves recorded.  This increase was partially offset by a 1.8% decrease due to scaled production achieved in late 2022, resulting in a lower cost per unit.

Research and Development Expense

Research and development expense consisted of the following (in thousands): 

    December 31,

    2024

    2023

    2022

    ZYNRELEF-related costs
     
    $
    6,424

    $
    11,505

    $
    47,975

    CINVANTI-related costs

    1,441

    1,772

    6,300

    SUSTOL-related costs

    428

    1,207

    1,681

    APONVIE-related costs

    405

    4,572

    724

    Personnel costs and other expenses

    6,129

    13,572

    15,993

    Stock-based compensation expense

    1,856

    6,505

    10,031

    Total research and development expense
     
    $
    16,683

    $
    39,133

    $
    82,704

Research and development expense decreased 57.4% during the year ended December 31, 2024, compared to the prior year and as a percentage of sales, decreased 19.2% during the same period, primarily due to decreased headcount and related costs as a result of the restructuring implemented in the year ended December 31, 2023, as well as a decrease in corresponding non-cash, stock-based compensation expense.  The decrease is also partially due to APONVIE becoming commercially available in March 2023, which resulted in lower research and development expense in the year ended December 31, 2024 for APONVIE.

Research and development expense decreased 52.7% during the year ended December 31, 2023, compared to the prior year and as a percentage of sales, decreased 46.0% during the same period, primarily due to decreases in costs related to ZYNRELEF and CINVANTI, as product scale-up, validation activities and raw materials qualification were completed in 2022. In addition, the decrease