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Rubric Capital Management LP, a ten percent owner of HERON THERAPEUTICS, INC. /DE/ (NASDAQ:HRTX), acquired 2,387,225 shares of common stock at $1.50 per share, for a total transaction value of $3,580,837. The purchase comes as the stock trades at $1.31, down nearly 28% in the past week. According to InvestingPro data, the company has shown revenue growth of 9.78% over the last twelve months, despite operating with significant debt obligations.
According to a Form 4 filing with the Securities and Exchange Commission, on August 8, 2025, Rubric Capital also purchased Convertible Senior Unsecured Promissory Notes for $33,250,000 and 94,610 Series A Convertible Preferred Stock for $15.00 per share. InvestingPro subscribers have access to 10+ additional exclusive insights about HRTX, including detailed analysis of the company’s financial health and valuation metrics through comprehensive Pro Research Reports, available for over 1,400 US stocks.
In other recent news, Heron Therapeutics reported its Q2 2025 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of -0.02 USD, missing the forecasted -0.01 USD, and reported revenues of 37.2 million USD, below the anticipated 38.08 million USD. Additionally, Heron Therapeutics has entered into a cooperation agreement with Rubric Capital Management, resulting in changes to its board of directors. The agreement will expand the board from six to seven members, with a new director nominated by Rubric.
In another development, Heron Therapeutics has amended its articles of incorporation to authorize Series A Convertible Preferred Stock. The company also entered a supply agreement with Patheon Austria GmbH & Co KG and Thermo Fisher Scientific Inc (NYSE:TMO). Under this agreement, Patheon will manufacture and supply certain products for Heron, with commitments to purchase 38,400 kilograms of products through the end of 2026. These recent developments highlight Heron Therapeutics’ strategic initiatives and ongoing partnerships.
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