REDWOOD CITY, Calif. -- (BUSINESS WIRE) -- Heron Therapeutics, Inc. (formerly A.P. Pharma, Inc., OTCBB: APPAD), a specialty pharmaceutical company, today announced that the Company’s common stock has been relisted on the NASDAQ Capital Market. The Company’s shares will trade under the symbol “HRTX” on the NASDAQ Capital Market when the market opens today, Thursday, January 23, 2014.
“We are extremely pleased to be up-listed to the NASDAQ,” said Barry D. Quart, PharmD, Chief Executive Officer of Heron Therapeutics. “As we pursue our new vision for Heron, today’s relisting should provide our shareholders with enhanced market maker support, improved liquidity and greater visibility for Heron within the investment community."
As previously announced the Company changed its name to Heron Therapeutics, Inc. and, in support of the Company’s relisting on the NASDAQ, effected a 1-for-20 reverse stock split, both effective January 13, 2014. Heron currently has approximately 23.6 million shares outstanding and 75 million shares of common stock authorized.
About Heron Therapeutics
Heron Therapeutics (formerly A.P. Pharma, Inc.) is a specialty pharmaceutical company developing products using its proprietary Biochronomer™ polymer-based drug delivery platform. This drug delivery platform is designed to improve the therapeutic profile of injectable pharmaceuticals by converting them from products that must be injected once or twice per day to products that need to be injected only once every one or two weeks. The Company's lead product, Sustol (formerly known as APF-530), is being developed for the prevention of both acute- and delayed-onset chemotherapy-induced nausea and vomiting. For further information, please visit the Company's web site at www.herontx.com.
Heron’s lead product candidate, Sustol, is being developed for the prevention of both acute- and delayed-onset chemotherapy-induced nausea and vomiting (CINV). One of the most debilitating side effects of cancer chemotherapy, CINV is a leading cause of premature discontinuation of treatment. There is only one injectable 5-HT3 antagonist approved for the prevention of delayed-onset CINV in patients receiving moderately emetogenic chemotherapy (MEC); none are approved for delayed-onset CINV in patients receiving highly emetogenic chemotherapy (HEC). Sustol contains the 5-HT3 antagonist granisetron formulated in the Company's proprietary Biochronomer™ drug delivery system, which allows therapeutic drug levels to be maintained for five days with a single subcutaneous injection. Currently available intravenous and oral formulations of granisetron are approved only for the prevention of acute-onset CINV. Granisetron was selected for Sustol because it is widely prescribed by physicians based on a well-established record of safety and efficacy.
Forward Looking Statements
This news release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including uncertainties associated with the potential approval of Sustol (formerly APF530) and the potential timing for such approval, if approved at all, as well as risks and benefits relating to listing on the NASDAQ Capital Market, progress in research and development programs, launch and acceptance of new products and other risks and uncertainties identified in the Company's filings with the Securities and Exchange Commission. We caution investors that forward-looking statements reflect our analysis only on their stated date. We do not intend to update them except as required by law.