Heron Therapeutics : November 18, 2021 Corporate Presentation

Heron Corporate

Update

November 18, 2021

Forward-Looking Statements

This presentation contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. We caution investors that forward-looking statements are based on management's expectations and assumptions as of the date of this presentation, and involve substantial risks and uncertainties that could cause our clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, those associated with: the timing of the commercial launch of ZYNRELEF in Europe; the potential market opportunity for ZYNRELEF in the US and Europe; the timing of the FDA's review process and whether the FDA approves the supplemental NDA for ZYNRELEF to expand the U.S. label to related procedures; the potential additional market opportunity for the expanded U.S. label; the timing and results of studies for the further expansion of the U.S. label for ZYNRELEF; the timing and results of studies for the HTX- 034 development program; the timing of the FDA's review process and whether the FDA approves the NDA for HTX-019 for prevention of postoperative nausea and vomiting; the net product sales guidance for the oncology care franchise; the expected future balances of Heron's cash, cash equivalents and short-term investments; the expected duration over which Heron's cash, cash equivalents and short-term investments balances will fund its operations; the extent of the impact of the ongoing Coronavirus Disease 2019 (COVID-19) pandemic on our business; and other risks and uncertainties identified in the Company's filings with the Securities and Exchange Commission. Forward-looking statements reflect our analysis only on their stated date, and we take no obligation to update or revise these statements except as may be required by law.

Heron Pipeline

PRECLINICAL		CLINICAL		NDA		APPROVED

Oncology Care

SUSTOL®

(granisetron) extended-release injection

CINVANTI®

(aprepitant) injectable emulsion

US FDA Approved for CINV Prevention*

US FDA Approved for CINV Prevention*

Acute Care

ZYNRELEF™
		sNDA filed to expand label
(bupivacaine and meloxicam)	US FDA Approved for postsurgical analgesia for up to 72 hours*
extended-release solution
HTX-019
(aprepitant)	US NDA Submitted for PONV Prevention	NDA submitted November 2021
injectable emulsion
HTX-034	Under Investigation for
(bupivacaine/meloxicam/
Postoperative Pain
aprepitant)

	CINV: Chemotherapy-induced nausea and vomiting. PONV: postoperative nausea and vomiting. SUSTOL® (granisetron) extended-release injection is indicated in combination with other antiemetics in adults for the prevention of acute and
	delayed nausea and vomiting associated with initial and repeat courses of moderately emetogenic chemotherapy (MEC) or anthracycline and cyclophosphamide (AC) combination chemotherapy regimens. CINVANTI® (aprepitant) injectable
	emulsion, in combination with other antiemetic agents, is indicated in adults for the prevention of acute and delayed nausea and vomiting associated with initial and repeat courses of highly emetogenic cancer chemotherapy (HEC) including
	high-dose cisplatin as a single-dose regimen, delayed nausea and vomiting associated with initial and repeat courses of moderately emetogenic cancer chemotherapy (MEC) as a single-dose regimen, and nausea and vomiting associated with
	initial and repeat courses of MEC as a 3-day regimen. CINVANTI has not been studied for treatment of established nausea and vomiting. ZYNRELEF (bupivacaine and meloxicam) extended-release solution is indicated in adults for soft
	tissue or periarticular instillation to produce postsurgical analgesia for up to 72 hours after bunionectomy, open inguinal herniorrhaphy, and total knee arthroplasty. Safety and efficacy have not been established in highly vascular surgeries, such
3	as intrathoracic, large multilevel spinal, and head and neck procedures.

HTX-034 and HTX-019 (for PONV) are investigational new drugs and are not approved by the FDA

HTX-019 for Postoperative Nausea

and Vomiting (PONV)

NDA Submitted November 2021

4

HTX-019 is an investigational new drug for PONV and not approved by the FDA

HTX-019 for PONV

• PONV is a large market ~20x the size of CINV
• HTX-019has significant potential advantages over oral aprepitant and IV fosaprepitant:
• • Therapeutic plasma concentrations where ≥97% receptor occupancy in the brain would be predicted are achieved in minutes versus >1 hour for oral aprepitant
  • 30-secondadministration of HTX-019 versus 20-30 minutes for fosaprepitant
  • IV fosaprepitant can be very painful when administered into a peripheral vein (In prior BE comparison HTX-019 was better tolerated than EMEND IV, with 65% fewer AEs at least possibly related to treatment and no AEs of greater than mild severity)
• NDA for prevention of PONV in adults submitted November 2021
• Several hundred million dollar a year potential market opportunity, taking the

majority of the oral aprepitant market and use in high risk procedures

5

HTX-019 is an investigational new drug for PONV and not approved by the FDA