Heron Therapeutics appoints Thomas Cusack to its Board of Directors, enhancing corporate governance and finance expertise.
Quiver AI Summary
Heron Therapeutics, Inc. announced the appointment of Thomas Cusack to its Board of Directors as part of a Cooperation Agreement with Rubric Capital Management LP. Mr. Cusack, who has over 20 years of experience in corporate finance and investment management, joins Heron's Board effective October 27, 2025. He previously served as a Managing Director at Starboard Value LP, focusing on investments and corporate governance, and has experience in mergers and acquisitions from his time at Barclays Capital and Lehman Brothers. Heron’s CEO, Craig Collard, expressed confidence that Cusack's expertise will enhance the company's momentum. Heron Therapeutics is dedicated to developing therapeutic innovations to improve medical care for patients, particularly in acute care and oncology.
Potential Positives
- Appointment of Thomas Cusack to the Board of Directors brings significant experience in corporate finance and governance, enhancing the strategic direction of Heron Therapeutics.
- Mr. Cusack's background with active investment management at Starboard Value can contribute to improved performance and corporate governance at Heron.
- The appointment follows a Cooperation Agreement with Rubric Capital Management, potentially indicating stronger shareholder alignment and support for the company’s strategic initiatives.
Potential Negatives
- The announcement of a Board appointment following a Cooperation Agreement with Rubric Capital Management may indicate that the company is experiencing pressure from activist investors to improve performance or governance.
- Mr. Cusack's extensive background in investment management and corporate finance, while potentially beneficial, also highlights a need for significant changes in the company's strategy or operations.
- The forward-looking statements section emphasizes reliance on management expectations, signaling potential uncertainties and risks that could affect future performance.
FAQ
Who has been appointed to Heron's Board of Directors?
Thomas Cusack has been appointed to Heron Therapeutics' Board of Directors.
What experience does Thomas Cusack bring to the Board?
Mr. Cusack has over 20 years in corporate finance, investment management, and corporate governance.
When was Thomas Cusack appointed as a director?
Thomas Cusack was appointed as a director of Heron on October 27, 2025.
What is the significance of the Cooperation Agreement for Heron?
The Cooperation Agreement between Heron and Rubric Capital Management LP facilitated Mr. Cusack's appointment to the Board.
What is Heron Therapeutics focused on?
Heron Therapeutics is focused on improving patient care through therapeutic innovations and advancing standards of care in acute care and oncology.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HRTX Insider Trading Activity
$HRTX insiders have traded $HRTX stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $HRTX stock by insiders over the last 6 months:
- CAPITAL MANAGEMENT LP RUBRIC purchased 2,387,225 shares for an estimated $3,580,837
- ADAM MORGAN purchased 1,766,546 shares for an estimated $2,649,819
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$HRTX Hedge Fund Activity
We have seen 79 institutional investors add shares of $HRTX stock to their portfolio, and 56 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- POINT72 ASSET MANAGEMENT, L.P. removed 4,775,877 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $9,886,065
- UBS GROUP AG added 3,026,226 shares (+1906.4%) to their portfolio in Q2 2025, for an estimated $6,264,287
- CITADEL ADVISORS LLC added 1,720,347 shares (+343.0%) to their portfolio in Q2 2025, for an estimated $3,561,118
- MARSHALL WACE, LLP added 1,639,376 shares (+130.7%) to their portfolio in Q2 2025, for an estimated $3,393,508
- BLACKROCK, INC. added 1,538,296 shares (+18.0%) to their portfolio in Q2 2025, for an estimated $3,184,272
- MILLENNIUM MANAGEMENT LLC removed 902,948 shares (-64.7%) from their portfolio in Q2 2025, for an estimated $1,869,102
- MORGAN STANLEY added 828,186 shares (+42.8%) to their portfolio in Q2 2025, for an estimated $1,714,345
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$HRTX Analyst Ratings
Wall Street analysts have issued reports on $HRTX in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Needham issued a "Buy" rating on 08/08/2025
- HC Wainwright & Co. issued a "Buy" rating on 06/09/2025
To track analyst ratings and price targets for $HRTX, check out Quiver Quantitative's $HRTX forecast page.
$HRTX Price Targets
Multiple analysts have issued price targets for $HRTX recently. We have seen 2 analysts offer price targets for $HRTX in the last 6 months, with a median target of $4.5.
Here are some recent targets:
- Serge Belanger from Needham set a target price of $3.0 on 08/08/2025
- Brandon Folkes from HC Wainwright & Co. set a target price of $6.0 on 06/09/2025
Full Release
CARY, N.C., Oct. 29, 2025 (GLOBE NEWSWIRE) -- Heron Therapeutics, Inc. (Nasdaq: HRTX) (“Heron” or the “Company”), a commercial-stage biotechnology company, today announced the appointment of Thomas Cusack to its Board of Directors. Mr. Cusack has extensive experience in matters related to corporate finance, investment management, and corporate governance. Mr. Cusack was appointed to the Board pursuant to the Cooperation Agreement entered into between the Company and Rubric Capital Management LP, dated as of August 8, 2025.
Mr. Cusack was appointed as a director of Heron as of October 27, 2025. Mr. Cusack has more than 20 years of experience in investment management and corporate finance. Most recently, from 2011 to 2025, he served as a Managing Director of Starboard Value LP, a New York-based investment fund with approximately $9 billion in assets under management known for its active approach to investing in public companies. In this capacity, Mr. Cusack played a central role in evaluating investment opportunities, developing new operating strategies, and working closely with boards and management teams to improve performance and corporate governance. Prior to his tenure at Starboard Value, from 2006 to 2011, he was an investment banker at Barclays Capital and Lehman Brothers focusing on Mergers & Acquisitions within the Technology, Media, & Telecom sectors. Mr. Cusack holds a B.S. in Finance & Accounting from the Leonard N. Stern School of Business at New York University.
“We are pleased to welcome Tom to Heron’s Board of Directors,” said Craig Collard, Chief Executive Officer of Heron. “Tom will undoubtedly bring a wealth of perspective to benefit our efforts to build momentum at Heron.”
About Heron Therapeutics, Inc.
Heron Therapeutics, Inc. is a commercial-stage biotechnology company focused on improving the lives of patients by developing and commercializing therapeutic innovations that improve medical care. 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. These risks and uncertainties include, but are not limited to, 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.
Investor Relations and Media Contact:
Ira Duarte
Executive Vice President, Chief Financial Officer
Heron Therapeutics, Inc.
[email protected]
858-251-4400
