Heron Loss Widens

(RTTNews) - Heron Therapeutics Inc (HRTX) on Friday reported first-quarter net loss of $20.6 million or $0.70 per share compared with a loss of $17.5 million or $0.74 per share last year.

Analysts polled by Thomson Reuters estimated a loss of $0.68 per share for the quarter. Analysts' estimates typically exclude special items.

The wider loss was primarily due to costs associated with the company's recently completed Phase 1 clinical study for HTX-011 - its lead product candidate for the prevention of post-operative pain. It also incurred costs for the ongoing Phase 3 HEC study for SUSTOL.

As of March 31, the company had about $55.6 million in cash.