SAN
DIEGO, June 23, 2023 /PRNewswire/ -- Heron
Therapeutics, Inc. (Nasdaq: HRTX), a commercial-stage biotechnology
company focused on improving the lives of patients by developing
best-in-class treatments to address some of the most important
unmet patient needs, announced today the appointment of
Ira Duarte as Chief Financial
Officer. Ms. Duarte has more than twenty-five years of experience
in a variety of finance and accounting positions, including over a
decade in the pharma industry.
"I am excited to welcome Ira to Heron as Chief Financial
Officer," said Craig Collard, Chief
Executive Officer of Heron. "I had the pleasure of previously
working with Ira and I look forward to her contributions as we
continue to develop long-term plans aimed at maximizing the
potential of Heron's commercial portfolio."
Ms. Duarte brings significant experience and expertise in
financial leadership to Heron. Prior to joining Heron, Ms. Duarte
served in financial leadership roles from 2016 – 2023, most
recently as Chief Financial Officer, at Veloxis Pharmaceuticals,
Inc., a fully integrated specialty pharmaceutical company. Prior to
that, Ms. Duarte served as the Corporate Controller at BioDelivery
Sciences, Inc. from 2014 – 2016, and from 2009 – 2014 she was
Senior Director of Corporate Finance for Chiesi USA, Inc. and Director of Accounting and
Financial Planning for Cornerstone Therapeutics, Inc., where she
was a core member of the team that guided the sale of Cornerstone
Therapeutics, Inc. to Chiesi Farmaceutici S.p.A. Ms. Duarte
previously held various roles from Staff to Senior Manager at Ernst
& Young Global Limited. Ms. Duarte currently serves on the
board of directors of TerrAscend Corporation and has since
December 2022. Ms. Duarte is a
Certified Public Accountant and holds a BS in Accounting from
Florida Atlantic University.
"Heron is a commercial-stage company with tremendous potential
for growth in the post-operative pain and oncology markets, with
four products that deliver relief to thousands of people
worldwide," said Ms. Duarte. "My immediate priority is to work with
the accomplished management team and board of directors to identify
ways to reduce our cash burn through improved operational efficacy.
I am excited to join the team and believe that Heron has a bright
future."
In connection with the commencement of Ms. Duarte's employment,
Heron granted Ms. Duarte an inducement award consisting of (i) a
non-statutory stock option to purchase 800,000 shares of Heron
common stock (Inducement Option), (ii) restricted stock units
consisting of 50,000 shares of Heron common stock (Inducement
RSUs), and (iii) a non-statutory stock option to purchase up to
500,000 shares of Heron common stock based upon the achievement of
certain common stock price goals (Inducement PSO). The Inducement
Option and Inducement PSO each have an exercise price based on the
closing price per share as reported on the Nasdaq Capital Market as
of June 16, 2023, the effective date
of the grants and the start date of Ms. Duarte's employment with
Heron. The Inducement Option has a 10-year term with a four-year
vesting schedule, with 25% of the shares subject to the option
vesting on the first anniversary of the grant date and the
remaining 75% vesting on a monthly basis over the next three years,
subject to Ms. Duarte's continuous service through each vesting
date. The Inducement RSUs vest as to 25% of the shares subject to
the Inducement RSUs on each of the first four anniversaries of the
grant date, subject to Ms. Duarte's continuous service through each
such vesting date. The Inducement PSO has a 10-year term and vests
as to a certain number of shares of the Company's common stock upon
achievement of certain stock price goals during Ms. Duarte's
employment with the Company and during the term of the Inducement
PSO, subject to Ms. Duarte's continuous service through each such
vesting date. In accordance with Nasdaq Listing Rule 5635(c)(4),
the inducement award grants were approved by Heron's Board of
Directors and Heron's Compensation Committee of the Board of
Directors and were made as a material inducement to Ms. Duarte
entering into employment with Heron.
About Heron Therapeutics, Inc.
Heron Therapeutics, Inc. is a commercial-stage biotechnology
company focused on improving the lives of patients by developing
best-in-class treatments to address some of the most important
unmet patient needs. Our advanced science, patented technologies,
and innovative approach to drug discovery and development have
allowed us to create and commercialize a portfolio of products that
aim to advance the standard-of-care for acute care and oncology
patients. For more information, visit www.herontx.com.
Forward-looking Statements
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 are subject to certain risks and
uncertainties that could cause actual results to differ materially,
and other risks and uncertainties identified in the Company's
filings with the U.S. 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.
Investor Relations and Media Contact:
David Szekeres
Executive Vice President, Chief Operating Officer
Heron Therapeutics, Inc.
dszekeres@herontx.com
858-251-4447
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SOURCE Heron Therapeutics, Inc.