SAN DIEGO--(BUSINESS WIRE)--Heron Therapeutics, Inc. (NASDAQ: HRTX), a commercial-stage biotechnology company focused on improving the lives of patients by developing best-in-class treatments to address some of the most important unmet patient needs, today announced an underwritten public offering of its common stock. The closing price of Heron Therapeutics, Inc.’s common stock on December 1, 2017 was $17.25 per share.
Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.
Heron Therapeutics, Inc. intends to use the proceeds from the proposed sale of its shares of common stock for general corporate purposes, which include, but are not limited to, the continued commercialization and marketing of SUSTOL®, the commercial launch of CINVANTI™, funding its ongoing and future clinical trials, including further Phase 2 studies and Phase 3 studies for HTX-011, preclinical development work, for general and administrative expenses, repayment of a portion of an outstanding promissory note, or other product development activities.
The offering is being made pursuant to a registration statement that was filed with the Securities and Exchange Commission and became automatically effective on July 6, 2017. The securities described above have not been qualified under any state blue sky laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Copies of the final prospectus supplement (when available) and accompanying prospectus relating to these securities may also be obtained by sending a request to: Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 6th Floor New York, New York 10022; Email: firstname.lastname@example.org.
This news release contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Heron Therapeutics, Inc. cautions readers that forward-looking statements are based on management’s expectations and assumptions as of the date of this news release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to, those associated with: its capital position and the sufficiency of its capital to fund its operations in future periods; its use of the net proceeds of the proposed public offering; and other risks and uncertainties identified in its filings with the Securities and Exchange Commission. Forward-looking statements reflect its analysis only on their stated date, and Heron Therapeutics, Inc. undertakes no obligation to update or revise these statements except as may be required by law.