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Business | 6 Months Ended
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Jun. 30, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract] |
Business | 1. Business We are 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. ZYNRELEF (bupivacaine and meloxicam) extended-release solution (“ZYNRELEF”) is approved in the United States (“U.S.”) and 30 European countries for the management of postoperative pain. APONVIE (aprepitant) injectable emulsion (“APONVIE”) is approved in the U.S. for the prevention of postoperative nausea and vomiting. CINVANTI (aprepitant) injectable emulsion (“CINVANTI”) and SUSTOL (granisetron) extended-release injection (“SUSTOL”) are both approved in the U.S. for the prevention of chemotherapy-induced nausea and vomiting. HTX-034, an investigational agent, is our next-generation product candidate which has been evaluated for the management of postoperative pain. With the recent change of the executive management team, we decided to pause the development of HTX-034 to evaluate the program and market potential going forward. As of June 30, 2023, we had cash, cash equivalents and short-term investments of $33.2 million. In July 2023, we entered into an agreement to sell shares of our common stock and pre-funded warrants (see Note 13) in a private placement. The private placement closed on July 25, 2023 and we received net proceeds of $29.7 million. In August 2023, we entered into a working capital facility agreement which provides an aggregate principal amount of up to $50.0 million. The working capital facility closed on August 9, 2023 at which time we received $24.5 million (see Note 13). Adjusting for net proceeds of $29.7 million from the private placement and proceeds of $24.5 million from the working capital facility, the Company has cash, cash equivalents and short-term investments of $87.4 million. Based on our current operating plan and projections, management believes that the Company's cash, cash equivalents and short-term investments, including the net proceeds from the July 2023 private placement and the proceeds from the working capital facility, will be sufficient to meet the Company's anticipated cash requirements for a period of at least one year from the date this Quarterly Report on Form 10-Q is filed with the U.S. Securities and Exchange Commission (“SEC”).

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- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI https://asc.fasb.org/topic&trid=2122369 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -URI https://asc.fasb.org/topic&trid=2122149 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
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