Kingdon Capital Raises Stakes in XOMA Corp (XOMA) and Heron Therapeutics Inc (HRTX)

Heron Therapeutics Inc. (NASDAQ: HRTX) is a biotechnology company engaged in the development of products to address unmet medical needs. The company’s lead product is SUSTOL, which is being developed for the prevention of both acute- and delayed-onset chemotherapy-induced nausea and vomiting. The market cap of the company is $770.5 million. At the end of last month, Heron Therapeutics Inc. (NASDAQ: HRTX) announced positive results from its phase 3 MAGIC study, which assessed the efficacy and safety of SUSTOL as part of a three-drug regimen. In a statement, the company said that the study’s primary endpoint was reached, with the percentage of patients achieving a complete response being significantly higher in the SUSTOL group than the comparator group. In addition, more patients in the SUSTOL arm were satisfied with their therapy based on a quality-of-life questionnaire, according to the company.

For the first quarter of 2015, Heron Therapeutics Inc. (NASDAQ: HRTX) reported a net loss of $0.70 per share, up from a loss of $0.74 per share in the same quarter last year. Among the largest shareholders of Heron Therapeutics Inc. (NASDAQ: HRTX) is Kevin C. Tang’s Tang Capital Management, which held 4.92 million shares as of the end of the first quarter.

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