Heron Therapeutics is a commercial-stage specialty pharmaceutical company that sells four FDA-approved products across two therapeutic areas: oncology supportive care and acute care (hospital surgery). The anchor product is CINVANTI, an IV formulation of aprepitant used to prevent chemotherapy-induced nausea and vomiting (CINV) in cancer patients, which crossed $100M in annual net revenue in FY24 and represents roughly 70% of total revenue. The growth engine is ZYNRELEF, a long-acting combination of bupivacaine and meloxicam injected at the surgical site to provide up to 72 hours of postsurgical pain relief while reducing opioid use. APONVIE, an IV aprepitant for postoperative nausea and vomiting (PONV) prevention in surgical patients, is a smaller but fast-growing product. SUSTOL, an older extended-release injectable for CINV, is in decline and being wound down. Heron sells directly to hospitals, ambulatory surgical centers, and oncology clinics through specialty distributors, and also partners with CrossLink Network's ~800-rep force to expand ZYNRELEF in orthopedics. Heron outsources all manufacturing and runs gross margins in the low-to-mid 70% range, with profitability sensitive to revenue scale given ~$100M in annual SG&A. The growth strategy centers on converting existing formulary access into deeper, protocolized use of ZYNRELEF and APONVIE, aided by favorable reimbursement changes under the NOPAIN Act and a permanent J-code for ZYNRELEF effective October 2025.