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Jun 30, 2021
Heron Therapeutics Q2 2021 Earnings Report
Reported financial results for the three months ended June 30, 2021 and highlighted recent corporate updates.
Key Takeaways
Heron Therapeutics reported net product sales of $22.4 million for the three months ended June 30, 2021, compared to $22.7 million for the same period in 2020. The net loss for the quarter was $61.0 million, or $0.62 per share, compared to $55.2 million, or $0.61 per share, for the same period in 2020. ZYNRELEF was commercially launched on July 1, 2021, and the oncology care franchise saw a 12% increase in net product sales compared to the prior quarter.
ZYNRELEF commercially launched on July 1, 2021, with 61 unique accounts already purchasing the product.
Multiple commercial and Medicaid payers covering 86 million lives agreed to reimburse ZYNRELEF.
The oncology care franchise continued to show growth with an overall 12% increase in net product sales compared to the prior quarter.
Heron expects sales for CINVANTI and SUSTOL to continue to grow in the second half of the year.
Forward Guidance
Heron currently expects third quarter of 2021 net product sales for the oncology care franchise to increase approximately 5% to 10% compared to the prior quarter. The Company is withdrawing its full-year 2021 net product sales guidance for the oncology care franchise based on the uncertainty associated with the rate of new cancer patient treatment starts and the impact of value-based contracting reimbursement.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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