Heron Therapeutics, Inc. balance sheet

At the end of fiscal 2025, Heron Therapeutics, Inc. had total assets of $256m, total liabilities of $242m and shareholders' equity of $14.3m. It held $28.6m in cash against $32.7m of debt: net debt of $4.1m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Heron Therapeutics, Inc.: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	13	145	32	72	105	91	15	29	26	29	21
Receivables	2	42	65	40	42	35	52	60	79	90	90
Inventory	5	10	39	25	42	48	55	42	53	93	91
Total current assets	62	228	447	479	314	254	205	189	209	238	230
Total assets	67	234	462	513	354	306	251	223	233	256	252
Accounts payable	7	19	17	3	1	4	3	3	12	9	12
Deferred revenue (current)	1	3	—	—	—	—	—	—	—	—	—
Total current liabilities	39	103	92	97	103	71	82	80	91	96	92
Long-term debt	—	—	—	—	—	149	149	149	150	33	34
Total debt	0	0	0	0	0	149	149	149	150	33	34
Total liabilities	89	103	92	109	117	228	237	256	267	242	245
Shareholders' equity	−21	131	370	404	236	78	14	−34	−34	14	7
Net debt (negative = net cash)	−13	−145	−32	−72	−105	59	134	121	124	4	13
Shares outstanding	39m	65m	78m	90m	91m	102m	119m	150m	152m	188m	—

US$ millions unless shown otherwise. Fiscal quarters.

Heron Therapeutics, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	67	79	79	80	81	90	84	90
Inventory	46	53	57	73	70	93	93	91
Total current assets	195	209	213	211	229	238	229	230
Total assets	221	233	236	232	249	256	246	252
Accounts payable	10	12	12	12	12	9	9	12
Total current liabilities	86	91	89	259	90	96	91	92
Long-term debt	150	150	150	—	32	33	33	34
Total debt	150	150	150	—	32	33	33	34
Total liabilities	261	267	264	259	234	242	237	245
Shareholders' equity	−40	−34	−28	−27	15	14	9	7
Shares outstanding	—	152m	—	—	—	188m	—	—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: HRTX vs NAII HRTX vs ZVRA AMRN vs HRTX HRTX vs NAGE

More: Pharmaceuticals stocks compared, Health Care sector, rankings of US companies

Figures from Heron Therapeutics, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Heron Therapeutics, Inc.