Heron

Corporate Update

October 4, 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 net product sales guidance for the oncology care franchise; 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-034development program; the timing of the NDA submission for HTX-019for prevention of postoperative nausea and vomiting; the expected future balances of Heron's cash, cash equivalents and short-terminvestments; the expected duration over which Heron's cash, cash equivalents and short-terminvestments 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

Acute Care

SUSTOL®

(granisetron)

US FDA Approved for CINV Prevention*

extended-release injection

CINVANTI®

(aprepitant)

US FDA Approved for CINV Prevention*

injectable emulsion

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

IND active for PONV

(aprepitant)

NDA planned for 4Q2021

BE Demonstrated to Oral Aprepitant

injectable emulsion

HTX-034

Under Investigation for

(bupivacaine/meloxicam/

Postoperative Pain

aprepitant)

CINV: Chemotherapy-induced nausea and vomiting. SUSTOL® (granisetron) extended-releaseinjection 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-releasesolution 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 as intrathoracic, large multilevel

3

spinal, and head and neck procedures.

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

Highly Successful Meeting with the FDA on Expansion of ZYNRELEF Label

  • FDA agreed to submission of supplemental NDA with existing data to significantly expand the label to include procedures related to the current 3 indicated procedures -
  • Supplemental NDA submitted for the following proposed indications:
    • ZYNRELEF is indicated in adults for soft tissue or periarticular instillation to produce postsurgical analgesia for up to 72 hours after foot and ankle, small-to-mediumopen abdominal, and lower extremity total joint arthroplasty surgical procedures.
  • FDA also agreed to contents of a second supplemental NDA, which would be designed to expand the indications substantially further including a broad claim for orthopedic surgical procedures and soft tissue surgical procedures.
    • Submission targeted for 2H2022
    • Expanded broad claim structure designed to cover 14 million target procedures

4

Why Approval of ZYNRELEF is so Important Postoperative Opioids Can Be a Doorway to Addiction

More than 50 million

> 2 million

In2020, drug overdoses

surgical procedures happen

were linked to more than

in the United States.1

Americans

90,000 deaths

67% of patients

users annually after surgery. 1

recorded in a single year.3

may become persistent opioid

the highest number ever

filled an opioid prescription between 30 days

before through 14 days after surgery.2*

In addition, most patients take fewer opioids than the amount prescribed after

surgery, resulting in excess opioid pills that are accessible to others.4

80%

Up to 77%

51%

of patients report

of opioid pills remain

of nonmedical users of

unused opioid tablets4

inside the home in

opioids received them

unsecured locations4

from friends and family5

More than

$23.4 billion

in annual healthcare costs associated

with persistent opioid users can be attributed to postoperative pain management.1,6

* This was determined using a 20% national sample of Medicare claims among beneficiaries aged 65 and older with Medicare Part D claims who underwent a major or minor surgical procedure between January 1, 2009 and June 30, 2015.

References: 1. Brummett CM, Waljee JF, Goesling J, et al. New Persistent Opioid Use After Minor and Major Surgical Procedures in US Adults [published correction appears in JAMA Surg. 2019 Mar 1;154(3):272]. JAMA Surg. 2017;152(6):e170504.

doi:10.1001/jamasurg.2017.0504. 2. Santosa KB, Hu HM, Brummett CM, et al. New persistent opioid use among older patients following surgery: A Medicare claims analysis. Surgery. 2020;167(4):732-742. doi:10.1016/j.surg.2019.04.016. 3. NCHS, National

Vital Statistics System. Estimates for 2020 are based on provisional data. Estimates for 2015-2019 are based on final data (available from: https://www.cdc.gov/nchs/nvss/mortality_public_use_data.htm). 4. Bicket MC, Long JJ, Pronovost PJ, Alexander GC,

Wu CL. Prescription Opioid Analgesics Commonly Unused After Surgery: A Systematic Review. JAMA Surg. 2017;152(11):1066-1071. doi:10.1001/jamasurg.2017.0831. 5. Substance Abuse and Mental Health Services Administration . Center for Behavioral

Health Statistics and Quality, Substance Abuse and Mental Health Services Administration; Rockville, MD: 2019. Key Substance Use and Mental Health Indicators in the United States: Results from the 2018 National Survey on Drug Use and Health (HHS Publication No. PEP19-5068, NSDUH Series H-54).https://www.samhsa.gov/data/sites/default/files/cbhsq-reports/NSDUHNationalFindingsReport2018/NSDUHNationalFindingsReport2018.pdf. Accessed April 19, 2021. 6. Brummett CM, Evans-Shields J, England C, Kong AM, Lew CR, Henriques C, Zimmerman NM, Sun EC. Increased health care costs associated with new persistent opioid use after major surgery in opioid-naive patients. J Manag Care Spec Pharm. 2021 Feb 24:1-12. doi:

10.18553/jmcp.2021.20507. Epub ahead of print. PMID: 33624534.

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Heron Therapeutics Inc. published this content on 04 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2021 12:55:23 UTC.