Heron Therapeutics Has Even More Upside, 'Robust' Data Shows

• Heron Therapeutics Inc HRTX shares have appreciated 27 percent in the last three months and touched a high of $42 on September 8.
• Jefferies’ Biren Amin maintained a Buy rating on the company, while raising the price target from $47 to $58.
• Positive data for HTX-011 in reducing the extent and duration of pain will help in making the case for pharmacoeconomic benefit, Amin noted.

Heron Therapeutics is a clinical-stage biotechnology company and its lead product Sustol is a longer acting formulation for the treatment of chemotherapy-induced nausea and vomiting [CINV].

The company’s other lead products includes HTX-011, a long-acting injectable formulation of bupivacaine/meloxicam for the treatment of post-operative pain, and HTX-019, an IV formulation of aprepitant.

Heron has reported positive data evaluating HTX-011 in the “PII bunionectomy trial, which showed reductions in pain intensity v. pbo over 24 hrs (-69%), 48 hrs (-52%), and 72 hrs post-surgery (-40%) (all stat sig),” the Jefferies report stated.

The data compares favorably with Exparel, an existing treatment, not only in terms of magnitude of reduction in pain but also on duration which is critical for making a case for pharamacoeconomic benefit.

According to FDA reviews, Exparel was only superior in the first 24 hours and that there was no meaningful difference between Exparel and HTX-011 from 24 to 72 hours, Amin added.