Short answer
HERON THERAPEUTICS, INC. /DE/ (HRTX) filed its Q1 2026 10-Q quarterly report on May 11, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $35M (down 10.8% year over year) with net income of −$8M.
Q1 2026 key financials · XBRL
- Revenue
- $35M
- −10.8% YoY
- Net income
- −$8M
- −407.8% YoY
- Operating margin
- -13.7%
- Gross margin
- 69.4%
- EPS (diluted)
- −$0.04
- −500.0% YoY
Source: XBRL data from the HERON THERAPEUTICS, INC. /DE/ (HRTX) Q1 2026 10-Q on SEC EDGAR. USD.
HERON THERAPEUTICS, INC. /DE/ Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $34.7M, down $4.2M YoY from $38.9M
- Gross margin 69.4% vs 78.3% YoY; operating margin (13.7%) vs 8.1%
- Acute Care best performer: $13.6M, up 32.3%; Oncology $21.1M, down 26.3%
- Cash, equivalents and short-term investments $44.8M; operating cash used $1.5M vs $8.9M
- Management expects liquidity sufficient for at least one year; inventory costs and debt interest remained headwinds
Risk Factors
- New regulatory risk: April 2026 executive order seeks tariffs up to 100% on imported patented pharmaceuticals
- Government-agency disruption: FDA layoffs and reorganizations may delay drug reviews, approvals, and inspections
- Debt covenant risk: Working Capital Facility requires minimum cash, revenue, and EBITDA thresholds
- Nasdaq listing risk: Stock closed below the $1.00 minimum bid for 27 consecutive business days
- Supply-chain risk: Tariff avoidance could require changing manufacturing partners and disrupt commercialization plans
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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