A Heron Therapeutics postoperative pain anesthetic hit clinical trial targets in two additional areas, sending the company’s stock soaring.
Heron’s stock traded at $40.55 a share at 10 a.m. on June 21, up from the prior day’s close of $30.70.
In March, Heron — among the San Diego biotechs rushing to market with alternatives to opioids — reported its drug lessened pain and decreased opioid use 72 hours after hernia and bunion surgery in two phase 3 trials, hitting all primary and key secondary endpoints.
June 21 saw positive topline results for two Phase 2b studies of the drug, HTX-011, in total knee arthroplasty and breast augmentation, meeting primary endpoints.
HTX-011 received breakthrough therapy designation from the U.S. Food and Drug Administration, Heron also announced, which looks to ease the drug’s regulatory path.