Why Heron Therapeutics Shares Rose Nearly 15% This Week
Heron Therapeutics (NASDAQ: HRTX) saw its shares rise 14.9% this week. The stock, which closed at $8.68 last Friday, climbed to as high as $9.97 on Thursday. The stock is still down more than 54% for the year and is closer to its 52-week low of $8.29 than its high of $22.40.
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The company announced on Thursday that its drug Zynrelef (bupivacaine and meloxicam) has been given Food and Drug Administration supplemental New Drug Application approval for more uses. The drug, the first FDA-approved dual-acting anesthetic, had already been approved in May for post-surgical pain relief after the removal of bunions, open inguinal hernia operations, or total knee replacement in adults. Now the new indications will include small to medium abdominal surgeries, lower extremity total joint replacements, and foot and ankle surgeries.
Source Fool.com
