Heron Therapeutics saw its price target reduced to $4 from $6 by H.C. Wainwright analyst Brandon Folkes on 11 May, though the Buy rating was maintained. The downgrade followed a weaker-than-expected first quarter and ongoing uncertainty around Zynrelef's growth trajectory. The biotechnology company reported first-quarter revenue of $34.7 million, with Acute Care revenue rising 32% year-over-year. Zynrelef generated $10.2 million whilst Aponvie contributed $3.4 million. Oncology Supportive Care brought in $21.1 million, primarily from Cinvanti at $20.5 million. Heron ended the quarter with $44.8 million in cash and reaffirmed full-year guidance of $173–183 million in revenue and $10–20 million in adjusted EBITDA. The company plans to expand its sales force in the third quarter.

Heron Therapeutics reported Q1 2026 results impacted by severe January weather disrupting elective surgeries, though March sales exceeded $15 million, signalling operational recovery. ZYNRELEF demonstrated 22% year-over-year demand growth driven by the IGNITE incentive programme, whilst APONVIE grew 68% following inclusion in PONV management guidelines. The company reaffirmed full-year 2026 guidance, expecting deferred procedures to be rescheduled. A significant sales force expansion is planned for Q3, and the IGNITE 2.0 programme has expanded to 3,109 accounts. Gross margins of 69% in Q1 reflected temporary pressure from a high-cost secondary CINVANTI supplier, but management expects normalisation to mid-70% range within two quarters. The ZYNRELEF prefilled syringe programme remains on track for 12-month stability data in Q1 2027.

Heron Therapeutics reported a first-quarter loss of $8.1 million, or 4 cents per share, on Monday. The Cary, North Carolina-based pharmaceutical company generated revenue of $34.7 million during the period. The company has issued full-year revenue guidance between $173 million and $183 million.