Heron Therapeutics, Inc. announced its financial results for the third quarter ended September 30, 2024, on November 12, 2024. The company reported a net loss of $4.848 million, a significant improvement compared to a net loss of $25.008 million in the third quarter of 2023. Net product sales for Q3 2024 were $32.810 million, up from $31.434 million in the prior year period.
A key highlight was the achievement of positive Adjusted EBITDA for the quarter, reflecting prudent financial management and continued revenue growth. The company's gross profit also saw a substantial increase, reaching $23.352 million in Q3 2024 compared to $13.226 million in Q3 2023.
Heron narrowed its full-year 2024 guidance, raising the Adjusted EBITDA range to $2.0 million to $5.0 million from the previous range of $(10.0) million to $3.0 million. Product Revenues, Net guidance was also narrowed to $140.0 million to $146.0 million. These updates, along with the inclusion of ZYNRELEF in the CMS Final Rule for the NOPAIN Act and positive early results from the CrossLink partnership, position ZYNRELEF for significant growth within the surgical setting.
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