2024-02-17 01:54:45 ET
Summary
- Heron Therapeutics has made progress in shoring up its balance sheet and cutting expenses, improving its financial position.
- Revenue growth remains a challenge.
- The expanded label for Zynrelef and the partnership with CrossLink could help accelerate growth in 2024.
Shares of Heron Therapeutics ( HRTX ) have recovered quite a bit in the last few months, but the stock is only slightly above the levels it traded at the time of my last article’s publication in April 2023. The company replaced CEO Quart at the time and was basically in survival mode in the last couple of quarters due to Zynrelef’s lack of traction in the post-operating pain market, and I argued that it can create value but that it faces a tough road ahead and that it needs to address the low cash balance....
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Heron Therapeutics Is Out Of Survival Mode