Heron Therapeutics, Inc. (NASDAQ:HRTX) reported net revenue of $35.3 million for the third quarter ended September 30, 2026, representing a 7.8% decline from $38.2 million in the corresponding period last year and a decrease from $37.7 million in the previous quarter.
The biotechnology company reported growth in its Acute Care business, while revenue from its Oncology Supportive Care portfolio declined.
Heron also announced a definitive agreement for CorMedix Therapeutics to acquire substantially all of its assets, subject to shareholder approval and customary closing conditions.
Acute Care Revenue Increases 22.5%
Heron’s Acute Care franchise generated revenue of $15.1 million during the quarter, up 22.5% from $12.3 million a year earlier.
ZYNRELEF revenue increased 13.8% to $10.6 million, while APONVIE revenue rose 49.3% to $4.5 million.
For the first nine months of 2026, Acute Care revenue increased 32.4% to $44.1 million, including $31.9 million from ZYNRELEF and $12.2 million from APONVIE.
Oncology Revenue Falls 22.2%
Revenue from Heron’s Oncology Supportive Care franchise declined 22.2% to $20.1 million, compared with $25.9 million in the third quarter of 2025.
CINVANTI generated $20.0 million in quarterly revenue, down 16.6% year-on-year, while SUSTOL revenue decreased 92% to approximately $152,000.
Heron discontinued commercial sales of SUSTOL on September 30, 2026.
For the nine months ended September 30, Oncology Supportive Care revenue fell 21.6% to $63.5 million, including $62.3 million from CINVANTI.
Total company revenue for the nine-month period declined 5.9% to $107.6 million from $114.3 million a year earlier.
Heron Announces Agreement to Sell Substantially All Assets
Alongside its quarterly results, Heron announced that it had entered into a definitive asset purchase agreement with CorMedix Therapeutics.
Under the proposed transaction, CorMedix would acquire substantially all of Heron’s assets.
Completion remains subject to approval by Heron’s shareholders and other customary closing conditions.
The company ended September with $23.4 million in cash, cash equivalents and short-term investments.
Full-Year Financial Guidance Remains Withdrawn
Heron confirmed that it is not providing financial guidance for 2026, following its decision to withdraw its previous outlook in August.
The company did not issue updated revenue or earnings forecasts alongside its third-quarter results.