Heron Therapeutics Enters into Loan Agreement for Up to $100 Million
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Aug. 2, 2016--
Heron Therapeutics, Inc. (NASDAQ:HRTX), has entered into an agreement
with Tang Capital Partners, LP whereby Tang Capital will lend the
Company up to $100 million. The loan will have a two-year term and bear
interest of 8% per annum. The first close of $50 million is expected to
occur within five business days. The second close of an additional $50
million is subject to the achievement of a corporate milestone. There
are no fees, no warrants and no equity conversion feature associated
with this transaction.
About Heron Therapeutics, Inc.
Heron Therapeutics, Inc. is a biotechnology company focused on improving
the lives of patients by developing best-in-class medicines that address
major unmet medical needs. Heron is developing novel, patient-focused
solutions that apply its innovative science and technologies to
already-approved pharmacological agents for patients suffering from
cancer or pain. For more information, visit www.herontx.com.
This news release contains "forward-looking statements" as defined by
the Private Securities Litigation Reform Act of 1995. Heron cautions
readers that forward-looking statements are based on management’s
expectations and assumptions as of the date of this news release, and
involve substantial risks and uncertainties that could cause our 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 projected sufficiency of our capital position for future periods,
our ability to repay any indebtedness, 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 Heron takes no obligation to update or revise
these statements except as may be required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160802005552/en/
Source: Heron Therapeutics, Inc.
Investor Relations and Media Contact:
Jennifer Capuzelo, 858-703-6063