Heron Therapeutics reports Q2 EPS (80c), consensus (92c)
Reports Q2 revenue $8.5M, consensus $5.5M. "The first half of 2017 has been very exciting for Heron with the submission of the CINVANTI NDA, a successful End-of-Phase 2 meeting for HTX-011, and the excellent growth in net product sales of SUSTOL. We have made important progress in the launch of SUSTOL and plan to build upon our success with the anticipated approval of CINVANTI by year-end 2017, which would add a second, complementary commercial product," said CEO Barry Quart. Heron believes that its cash, cash equivalents and short-term investments of $109.3M and accounts receivable of $18.6M at June 30, 2017, along with collections from SUSTOL sales after June 30, provides the company with funding sufficient to complete the HTX-011 pivotal Phase 3 efficacy studies in the first half of 2018.