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)	25.74 mm	25.74 mm	25.74 mm	25.74 mm	25.74 mm	25.74 mm
Cash burn (monthly)	(no burn)	759.83 k	1.49 mm	2.16 mm	(no burn)	691.17 k
Cash used (since last report)	n/a	3.24 mm	6.33 mm	9.20 mm	n/a	2.94 mm
Cash remaining	n/a	22.50 mm	19.41 mm	16.54 mm	n/a	22.80 mm
Runway (months of cash)	n/a	29.6	13.1	7.7	n/a	33.0

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2024

HRTX institutional ownership history Ownership history

88.4% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	174	190	-8.4%
Opened positions	23	48	-52.1%
Closed positions	39	14	+178.6%
Increased positions	65	65	–
Reduced positions	38	38	–

13F shares	Current	Prev Q	Change
Total value	236.50 bn	443.90 bn	-46.7%
Total shares	134.42 mm	133.35 mm	+0.8%
Total puts	94.90 k	147.70 k	-35.7%
Total calls	80.40 k	94.70 k	-15.1%
Total put/call ratio	1.2	1.6	-24.3%

Largest owners	Shares	Value	Change
Rubric Capital Management	26.71 mm	$53.16 bn	0.0%
Adage Capital Partners GP, L.L.C.	8.85 mm	$17.61 bn	+16.4%
Adage Capital Management	8.85 mm	$15.93 mm	NEW
Vanguard	8.72 mm	$17.35 bn	+1.2%
BlackRock	8.53 mm	$16.98 bn	NEW
Velan Capital Investment Management	6.99 mm	$13.90 bn	0.0%
Tejara Capital	5.31 mm	$10.56 bn	+26.7%
D. E. Shaw & Co.	4.38 mm	$8.73 bn	+13.5%
Palisade Capital Management	3.99 mm	$7.94 bn	-1.4%
Tang Capital Partners	3.76 mm	$0.00	0.0%

Largest transactions	Shares	Bought/sold	Change
Adage Capital Management	8.85 mm	+8.85 mm	NEW
BlackRock	8.53 mm	+8.53 mm	NEW
BLK BlackRock	0.00	-8.33 mm	EXIT
Orbimed Advisors	0.00	-6.51 mm	EXIT
BEN Franklin Resources	23.03 k	-6.30 mm	-99.6%
STT State Street	3.19 mm	-2.09 mm	-39.5%
Adage Capital Partners GP, L.L.C.	8.85 mm	+1.25 mm	+16.4%
Tejara Capital	5.31 mm	+1.12 mm	+26.7%
Citadel Advisors	1.59 mm	+1.05 mm	+194.0%
MS Morgan Stanley	1.77 mm	+1.00 mm	+130.3%

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	$Price	#Shares	$Value	#Remaining
31 Jan 25	William P Forbes	RSU Common Stock	Grant	Acquire A	No	No	0	187,110	0.00	187,110
31 Jan 25	William P Forbes	Employee Stock Option Common Stock	Grant	Acquire A	No	No	1.7	374,220	636.17 k	374,220
31 Jan 25	Collard Craig A	RSU Common Stock	Grant	Acquire A	No	No	0	556,620	0.00	556,620
31 Jan 25	Collard Craig A	Employee Stock Option Common Stock	Grant	Acquire A	No	No	1.7	1,113,240	1.89 mm	1,113,240
31 Jan 25	Ira Duarte	RSU Common Stock	Grant	Acquire A	No	No	0	187,110	0.00	187,110
31 Jan 25	Ira Duarte	Employee Stock Option Common Stock	Grant	Acquire A	No	No	1.7	374,220	636.17 k	374,220
31 Jan 25	Christian Waage	Common Stock	Grant	Acquire A	No	No	0	17,950	0.00	84,130
31 Jan 25	Christian Waage	Stock Option Common Stock	Grant	Acquire A	No	No	1.7	35,900	61.03 k	35,900
31 Jan 25	Susan Rodriguez	Common Stock	Grant	Acquire A	No	No	0	17,950	0.00	87,180
31 Jan 25	Susan Rodriguez	Stock Option Common Stock	Grant	Acquire A	No	No	1.7	35,900	61.03 k	35,900