Company: HRTX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028374
Chunk: 125

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 125
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 of observable inputs and minimize the use of unobservable inputs. The FASB ASC Topic 820, Fair Value Measurements & Disclosures, establishes a fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:•Level 1—Observable inputs such as quoted prices in active markets for identical assets or liabilities. •Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. •Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.We measure cash, cash equivalents and short-term investments at fair value on a recurring basis. The fair values of such assets were as follows (in thousands): 

        Fair Value Measurements at Reporting Date Using

        Balance atDecember 31,2024

        QuotedPrices inActiveMarkets forIdenticalAssets(Level 1)

        SignificantOtherObservableInputs(Level 2)

        SignificantUnobservableInputs(Level 3)

        Cash and money market funds
         
        $
        23,860

        $
        23,860

        $
        —

        $
        —

        U.S. treasury bills and government agency obligations

        14,868

        14,868

        —

        —

        U.S. corporate debt securities

        13,644

        —

        13,644

        —

        Foreign corporate debt securities

        5,913

        —

        5,913

        —

        Foreign commercial paper

        998

        —

        998

        —

        Total
         
        $
        59,283

        $
        38,728

        $
        20,555

        $
        —

        Fair Value Measurements at Reporting Date Using

        Balance atDecember 31,2023

        QuotedPrices inActiveMarkets forIdenticalAssets(Level 1)

        SignificantOtherObservableInputs(Level 2)

        SignificantUnobservableInputs(Level 3)

        Cash and money market funds
         
        $
        23,441

        $
        23,441

        $
        —

        $
        —

        U.S. treasury bills and government agency obligations

        31,636

        31,