Heron Therapeutics To Axe 34% Jobs

Heron Therapeutics, Inc. (HRTX) said on Thursday that it will slash 34 percent of its total workforce and cut streamlined operational expenditure as part of its cost reduction strategy.

Barry Quart, CEO of Heron, said: "To address the current market realities and the macro headwinds facing many commercial-stage biotechnology companies, we are enacting critical plans to protect Heron's long-term sustainability and growth plans."

With this move, the annual cost savings of $43 million will enable Heron to maintain a streamlined organization to support its acute care and oncology care franchises and extend its cash runway.

The streamlined operational expenditures include reductions and reallocations in overall sales, general and administrative expenses, and others.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Longmont Colorado -based Royal Crest Dairy is recalling 2% Chocolate Milk citing the potential to be contaminated with undeclared egg, a known allergen, the U.S. Food and Drug Administration said. The recall involves Farmer's 2% Reduced Fat Chocolate Milk Pints with the code date of AUG-22. ANI Pharmaceuticals, Inc. (ANIP) Monday announced a wider loss for the second quarter, despite a 52 percent surge in revenues. For the full year 2022, the company reiterated the adjusted earnings per share range, revenue guidance and raised Cortrophin revenue outlook. The company reported a quarterly... Shares of BioNTech SE were losing around 4 percent in the morning trading in Germany and around 5 percent in the pre-market activity on Nasdaq after the German Covid-19 vaccine maker reported sharp drop in profit and revenues for the second quarter. However, the company recorded strong growth in first-half results. Further, the company maintained BioNTech COVID-19 vaccine revenue guidance
Follow RTT