Heron raises $150M in follow-on

Heron Therapeutics Inc. (NASDAQ:HRTX) raised $150 million through the sale of 12.3 million shares at $12.20 in a follow-on underwritten by BofA Merrill Lynch, Cowen, Leerink, Cantor Fitzgerald, JMP Securities, Noble Capital Markets, LifeSci Capital, Aegis Capital and Lake Street Capital Markets. The price is a 4.7% discount to Heron’s close of $12.80 on Wednesday, before it proposed the offering after market hours.

Heron markets Sustol granisetron extended release (APF530) to prevent chemotherapy-induced nausea and vomiting (CINV). The product is a long-acting formulation of a serotonin (5-HT3) receptor antagonist formulated using Heron's Biochronomer polymer-based drug delivery technology...