Heron Therapeutics Inc. shares surged 33.6% in premarket trade Thursday, after the company announced positive developments for its treatments for postoperative pain. The company said it has received Breakthrough Therapy designation from the U.S. Food and Drug Administration for HTX-011, an investigational, long-acting, extended-release formulation of the local anesthetic bupivacaine in a fixed-dose combination with the anti-inflammatory meloxicam for the management of postoperative pain. Breakthrough Therapy designation is aimed at speeding up the development and review of drugs that treat serious conditions and that show signs of offering significant improvement over existing therapies. Separately, Heron announced positive results in Phase 2b trials of HTX-011 in knee arthroplasty and breast augmentation, with the drug reducing pain intensity and lowering opioid use. Shares have gained 69.6% in the year through Wednesday, while the S&P 500 has gained 3.5%.
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