Heron Therapeutics Announces Cost Reduction Plan - Quick Facts

(RTTNews) - Heron Therapeutics, Inc. (HRTX) announced a cost reduction plan and a corporate restructuring, following a strategic review of the business. These actions are expected to result in cash savings of approximately $75 million through 2025, inclusive of $45 million in operational savings. The company's cost reduction plan will focus on streamlining operational expenditures, including reductions in research and development and general and administrative expenses, while aiming to achieve profitability in late 2024.

The company has conducted a corporate restructuring, reducing the employee base by 25%. Due to the restructuring, Heron expects to incur non-recurring cash expenses of approximately $5.9 million in 2023.