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62 /100
HIGH RISK
Score updated Oct 13, 2026

HRTX — Heron Therapeutics, Inc. Dilution Risk Tracker

Track HRTX dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

⚠️ Not financial advice. Do your own research before making any investment decisions.

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As of October 13, 2026, Heron Therapeutics, Inc. (HRTX) has a DilutionWatch DilutionScore of 62/100, rated HIGH dilution risk. Heron Therapeutics, Inc. has a market capitalization of $78.90M, 189.85M shares outstanding, 169 institutional holders tracked.

This page includes automatically generated factual summaries from DilutionWatch data. It is not financial advice, not investment research, and not a recommendation. Do your own research. Read the full disclaimer and terms of service.

Score Breakdown

📋 Offering Ability
42
💰 Cash Runway
85
📊 Float Risk
47
⚠️ Warrant Exposure
40
🔄 Convertible Debt
85

Dilution Forecast

⛈️
Warning
High probability of dilution event
model est. 60%
🔄 Reverse Split model est. 70%
• 50-day avg $0.95 below $1 exchange minimum
• Only 6 months cash — financial pressure
🔁 Convertible Conversion model 60%
• Major convertible overhang: 43% potential dilution
• Convertible risk score very high (85/100)
💰 Capital Raise model 35%
• Low cash runway: 6 months remaining
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Market Data

Market Cap$78.90M
Shares Outstanding189.85M
Float135.48M
Cash$20.72M
Debt$141.63M
Short InterestN/A

Source-Backed Evidence Depth

This public preview uses stored DilutionWatch fields and linked SEC/market records only. Missing values are not estimated.

FieldCurrent ValueBasis
DilutionScore62/100DilutionWatch score record
Shares Outstanding189.85MVerified float table or market cache
Public Float135.48MVerified float table or market cache
Market Cap$78.90MMarket data cache
Cash Runway5.5 monthsDilutionWatch score inputs
Shelf CapacityNone in current score inputsSEC-derived dilution fields
ATM CapacityNone in current score inputsSEC-derived dilution fields
Outstanding WarrantsNone in current score inputsSEC-derived dilution fields

Recent source-backed SEC insight records available on this page: 7.

Recent SEC source mix: 4 5, XBRL 2.

The page does not infer future share issuance, financing probability, cash needs, management intent, or price impact when source fields are absent.

Institutional Holdings

QoQ: ↑ 10.6% shares (2026Q1 vs prior)
169 institutional holders · 174.51M shares
#1 Rubric Capital Management LP 30.05M shares
#2 VANGUARD CAPITAL MANAGEMENT LLC 15.62M shares
#3 Clearline Capital LP 12.24M shares
+ 17 more holders Sign up free to view →

Institutional holder totals are aggregated from ownership filings and may use a different share basis or reporting date than public float. They are not a reconciliation against tradeable float.

Short Interest

Short Interest46.02M
Days to Cover17.3
% of Float34.0%
FINRA data as of Sep 30, 2026

Recent SEC Activity

xbrl XBRL CONVERTIBLE 2026-08-10
xbrl XBRL WARRANT 2026-02-26
4 INSIDER TRANSACTION 2026-04-06
4 INSIDER TRANSACTION 2026-02-03
4 INSIDER TRANSACTION 2026-02-03
Full SEC filing analysis available with free account →

Recent News

No recent news available for this ticker.

Factual HRTX Dilution Snapshot

Heron Therapeutics, Inc. (HRTX) has a DilutionScore of 62/100, rated High dilution risk. Score date: October 13, 2026.

This automatically generated snapshot is assembled from stored DilutionWatch data fields and may contain data-source errors or omissions. It is not financial advice, not investment research, and not a recommendation. Do your own research and review the full disclaimer and terms of service.

DilutionScore History — Last 90 Days

HRTX's DilutionScore is currently 62/100 (High risk), with 5 score changes tracked over 89 days. The score improved from 57/100 (High risk).

Period Score Risk Level Duration
Oct 11 – Oct 13, 202662/100HIGH3 days
Sep 30 – Oct 10, 202657/100HIGH11 days
Sep 06 – Sep 29, 202654/100HIGH24 days
Aug 22 – Sep 05, 202662/100HIGH15 days
Jul 17 – Aug 21, 202655/100HIGH35 days
Jul 16, 202656/100HIGH1 day

Score recalculated daily from SEC filings and market data. Sign up free for real-time score change alerts.

Share Dilution History

HRTX shares outstanding have increased 0.4% from 188.54M (Apr 2026) to 189.28M (May 2026). Each increase represents potential dilution to existing shareholders.

Date Shares Outstanding Public Float Change
May 27, 2026189.28M135.48M▼ 0.10%
May 19, 2026189.28M135.62M▲ 0.10%
May 18, 2026189.28M135.48M▼ 6.82%
May 17, 2026189.28M145.41M▲ 8.33%
May 15, 2026189.28M134.22M▲ 0.14%
May 13, 2026189.28M134.03M▲ 0.39%
May 10, 2026188.64M133.51M▼ 0.09%
May 09, 2026188.64M133.63M▼ 0.03%
Apr 28, 2026188.54M133.67M▼ 0.07%
Apr 27, 2026188.54M133.77M▲ 0.02%

Share counts sourced from verified regulatory filings. Increases indicate dilution events.

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