Heron Therapeutics (HRTX) Stock Spikes After Pricing Secondary Offering

NEW YORK (TheStreet) -- Heron Therapeutics (HRTX) shares are up 8.63% to $28.33 in morning trading on Wednesday after the company announced the pricing of its secondary public offering of 4.8 million shares at $24.75 per share.

The gross profit from the offering is expected to be approximately $119 million with proceeds to facilitate the launch of its extended release granisetron injection SUSTOL.

The offering is expected to close June 15 with Jefferies (JEF), Leerink Partners and Cowen  (COWN) acting as joint book-runners for the offering.

Shares are trading at five times their normal daily volume so far today.

HRTX Chart HRTX data by YCharts

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