According to the Complaint, Heron Therapeutics, Inc. is a biotechnology company that engages in developing treatments to address unmet medical needs. Heron’s product candidates utilize its proprietary Biochronomer drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration. The Company was formerly known as A.P. Pharma, Inc. and changed its name to Heron Therapeutics, Inc. in January 2014.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Heron had failed to include adequate Chemistry, Manufacturing, and Controls (“CMC”) and non-clinical information in its NDA for HTX-011; (ii) the foregoing increased the likelihood that the FDA would not approve Heron’s NDA for HTX-011; and (iii) as a result, Heron’s public statements were materially false and misleading at all relevant times.

On October 2, 2019, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs voluntarily dismissed this case on November 21.