Why Heron Therapeutics Stock Is Crashing Today

Heron Therapeutics (NASDAQ: HRTX), a commercial-stage biotech developing medicines to address unmet medical needs, saw its shares drop by as much as 11.8% today on over five times the average daily volume. This double-digit move lower was sparked by a $150 million public offering of its common stock.

Heron reportedly plans on using the proceeds from this secondary offering to support the ongoing commercial launches of its medicines for chemotherapy-induced nausea, Sustol and Cinvanti, as well as to fund its clinical activities.

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Source: Fool.com