Company: HRTX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028374
Chunk: 140

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 140
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88

94

On December 31, 2024, we had reserved 28,062,017 shares of common stock for future issuance upon exercise of outstanding options and vesting of outstanding restricted stock units granted under the 2007 Plan, as well as the inducement award grants.Stock-Based CompensationThe following summarizes stock-based compensation expense related to stock-based payment awards pursuant to our equity compensation arrangements (in thousands): 

        December 31,

        2024

        2023

        2022

        Research and development
         
        $
        1,856

        $
        6,505

        $
        10,025

        General and administrative

        7,138

        16,846

        19,552

        Sales and marketing

        3,968

        9,503

        13,403

        Total stock-based compensation expense
         
        $
        12,962

        $
        32,854

        $
        42,980

      As of December 31, 2024, there was $19.8 million of total unrecognized compensation cost related to non-vested, stock-based payment awards granted under all of our equity compensation plans and all non-plan option grants. Total unrecognized compensation cost will be adjusted for future changes in estimated forfeitures. We expect to recognize this compensation cost over a weighted-average period of 2.4 years.The fair value of RSUs is estimated based on the closing market price of our common stock on the date of the grant. RSUs generally vest quarterly over a four-year period.We estimated the fair value of each option grant and ESPP purchase right on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:Options: 

        December 31,

        2024

        2023

        2022

        Risk-free interest rate

        4.5
        %

        3.7
        %

        3.3
        %

        Dividend yield

        —
        %

        —
        %

        —
        %

        Volatility

        80.1
        %

        68.1
        %

        62.0
        %

        Expected life (years)

        6

        6 to 10

        6

       ESPP: 

        December 31,

        2024