HRTX - Heron Therapeutics climbs on management comments over upcoming milestone

Heron Therapeutics (HRTX) is trading sharply higher despite its lower-than-expected financial results for Q1 2021. The management remarks over an impending FDA decision for the company’s investigational non-opioid analgesic appear to have caused the rally.The New Drug Application for HTX-011 is currently under the FDA review for the management of postoperative pain. The PDUFA goal date is May 12, 2021."We have no outstanding questions on the pending NDA and are currently in labeling discussions with the FDA, as we prepare for the anticipated commercial launch of HTX-011 in the U.S.," noted Barry Quart, the CEO of Heron.The company’s net sales from the oncology care franchise have dropped ~21.3% YoY to $20M. The decline was driven by the pandemic’s impact on new patient starts in 2020 leading to fewer clinic anti-emetic administrations in the quarter, the company said.However, the management expressed hopes of a rebound in Q2 citing a contract signed for CINVANTI.In 2019,

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Heron Therapeutics climbs on management comments over upcoming milestone