Heron Therapeutics (HRTX)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	43.07 mm	43.07 mm	43.07 mm	43.07 mm	43.07 mm	43.07 mm
Cash burn (monthly)	(no burn)	(no burn)	1.36 mm	(no burn)	(no burn)	2.52 mm
Cash used (since last report)	n/a	n/a	6.13 mm	n/a	n/a	11.30 mm
Cash remaining	n/a	n/a	36.94 mm	n/a	n/a	31.77 mm
Runway (months of cash)	n/a	n/a	27.1	n/a	n/a	12.6

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Financial data from company earnings reports.

Institutional ownership, Q4 2024

HRTX institutional ownership history Ownership history

80.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	162	174	-6.9%
Opened positions	26	22	+18.2%
Closed positions	38	39	-2.6%
Increased positions	42	66	-36.4%
Reduced positions	49	38	+28.9%

13F shares	Current	Prev Q	Change
Total value	172.99 bn	236.50 bn	-26.9%
Total shares	127.48 mm	134.42 mm	-5.2%
Total puts	42.40 k	94.90 k	-55.3%
Total calls	3.02 mm	80.40 k	+3651.7%
Total put/call ratio	0.0	1.2	-98.8%

Largest owners	Shares	Value	Change
Rubric Capital Management	26.71 mm	$40.87 bn	0.0%
Adage Capital Management	8.85 mm	$15.93 mm	0.0%
BLK BlackRock	8.59 mm	$13.14 bn	+0.7%
Adage Capital Partners GP, L.L.C.	8.50 mm	$13.01 bn	-4.0%
Vanguard	8.16 mm	$12.48 bn	-6.5%
Velan Capital Investment Management	6.99 mm	$10.69 bn	0.0%
Tejara Capital	4.66 mm	$7.13 bn	-12.1%
Palisade Capital Management	3.93 mm	$6.01 bn	-1.7%
Tang Capital Partners	3.76 mm	$0.00	0.0%
D. E. Shaw & Co.	3.72 mm	$5.70 bn	-15.1%

Largest transactions	Shares	Bought/sold	Change
Point72 Asset Management	3.08 mm	+3.08 mm	NEW
Citadel Advisors	0.00	-1.59 mm	EXIT
Qube Research & Technologies	0.00	-1.15 mm	EXIT
GS The Goldman Sachs Group, Inc.	655.16 k	-1.05 mm	-61.6%
MS Morgan Stanley	2.79 mm	+1.03 mm	+58.0%
Renaissance Technologies	1.19 mm	-819.40 k	-40.8%
Nuveen Asset Management	314.27 k	-792.42 k	-71.6%
Millennium Management	215.53 k	-718.86 k	-76.9%
Stonepine Capital Management	700.00 k	+700.00 k	NEW
Marshall Wace	1.02 mm	-698.01 k	-40.7%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

HRTX insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	#Shares	#Remaining
31 Jan 26	Ira Duarte	Common Stock	Option exercise	Acquire M	No	No	11,695	195,356
31 Jan 26	Ira Duarte	RSU Common Stock	Option exercise	Dispose M	No	No	11,695	140,332
31 Jan 26	William P Forbes	Common Stock	Option exercise	Acquire M	No	No	11,695	181,773
31 Jan 26	William P Forbes	RSU Common Stock	Option exercise	Dispose M	No	No	11,695	140,332
31 Jan 26	Collard Craig A	Common Stock	Option exercise	Acquire M	No	No	34,789	571,710
31 Jan 26	Collard Craig A	RSU Common Stock	Option exercise	Dispose M	No	No	34,789	417,464
30 Jan 26	Adam Morgan	Common Stock	Grant	Acquire A	No	No	53,960	123,737
30 Jan 26	Collard Craig A	Performance Stock Units Common Stock	Grant	Acquire A	No	No	800,336	800,336
30 Jan 26	Collard Craig A	RSU Common Stock	Grant	Acquire A	No	No	800,337	800,337

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.