<SEC-DOCUMENT>0001600136-25-000011.txt : 20251126
<SEC-HEADER>0001600136-25-000011.hdr.sgml : 20251126
<ACCEPTANCE-DATETIME>20251126101535
ACCESSION NUMBER:		0001600136-25-000011
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251126
DATE AS OF CHANGE:		20251126

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HERON THERAPEUTICS, INC. /DE/
		CENTRAL INDEX KEY:			0000818033
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				942875566
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-39444
		FILM NUMBER:		251525493

	BUSINESS ADDRESS:	
		STREET 1:		4242 CAMPUS POINT COURT, SUITE 200
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
		BUSINESS PHONE:		8582514400

	MAIL ADDRESS:	
		STREET 1:		4242 CAMPUS POINT COURT, SUITE 200
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AP PHARMA INC /DE/
		DATE OF NAME CHANGE:	20010511

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ADVANCED POLYMER SYSTEMS INC /DE/
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clearline Capital LP
		CENTRAL INDEX KEY:			0001600136
		ORGANIZATION NAME:           	
		EIN:				900934356
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0213

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		750 LEXINGTON AVENUE, 25TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-735-5380

	MAIL ADDRESS:	
		STREET 1:		750 LEXINGTON AVENUE, 25TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
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    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001600136</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



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  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock, par value $0.01 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000818033</issuerCik>
        <issuerName>HERON THERAPEUTICS, INC. /DE/</issuerName>
        <issuerCusip>427746102</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>100 Regency Forest Drive</com:street1>
          <com:street2>Suite 300</com:street2>
          <com:city>Cary</com:city>
          <com:stateOrCountry>NC</com:stateOrCountry>
          <com:zipCode>27518</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Clearline Capital LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>9712527.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>9712527.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>9712527.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>5.3</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Clearline Capital LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>9712527.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>9712527.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>9712527.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>5.3</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Marc Majzner</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>9712527.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>9712527.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>9712527.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>5.3</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>HERON THERAPEUTICS, INC. /DE/</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>100 Regency Forest Drive, Suite 300, Cary, NORTH CAROLINA, 27518.</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Clearline Capital LP
Clearline Capital LLC
Marc Majzner

Each a "Filer."</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The address for each Filer is 750 Lexington Avenue, 25th Floor, New York, NY 10022. </principalBusinessOfficeOrResidenceAddress>
        <citizenship>See Item 4 of the cover page for each Filer.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See Item 9 of the cover page for each Filer.

As of September 30, 2025, the Firm may be deemed to beneficially own an aggregate of 9,712,527  shares of Common Stock, par value $0.01 per share (the "Common Stock"), of Heron Therapeutics, Inc. (the "Issuer"). Ownership percentages are based on 183,362,522 Common Shares reported as issued and outstanding as of October 30, 2025 in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 4, 2025.</amountBeneficiallyOwned>
        <classPercent>See Item 11 of the cover page for each Filer.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Item 5 of the cover page for each Filer.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Item 6 of the cover page for each Filer.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Item 7 of the cover page for each Filer.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Item 8 of the cover page for each Filer.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <exhibitInfo>Exhibit 1: Joint Filing Agreement</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Clearline Capital LP</reportingPersonName>
      <signatureDetails>
        <signature>Marc Majzner</signature>
        <title>Limited Partner</title>
        <date>11/26/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Clearline Capital LLC</reportingPersonName>
      <signatureDetails>
        <signature>Marc Majzner</signature>
        <title>Managing Member</title>
        <date>11/26/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Marc Majzner</reportingPersonName>
      <signatureDetails>
        <signature>Marc Majzner</signature>
        <title>Authorized Signatory</title>
        <date>11/26/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

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<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>exhibit1jointfilingagreement.htm
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit 1</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>JOINT FILING AGREEMENT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 45pt">This Joint Filing Agreement,
dated as of November 26, 2025, is by and among Clearline Capital LP, Clearline Capital LLC and Marc Majzner (collectively, the &ldquo;Filers&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Each of the Filers may be required
to file with the United States Securities and Exchange Commission a statement on Schedule 13D and/or 13G with respect to shares of Common Stock, par value $0.01 per share of Heron Therapeutics, Inc. beneficially owned by them from time to time.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to and in accordance
with Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement
on Schedule 13D and/or 13G (and any amendments thereto) on behalf of each of the Filers, and hereby further agree to file this Joint Filing
Agreement as an exhibit to such statement, as required by such rule.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Joint Filing Agreement may
be terminated by any of the Filers upon written notice or such lesser period of notice as the Filers may mutually agree.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 45pt">Executed and delivered as of the date first above written.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">CLEARLINE CAPITAL LP</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 4in"><FONT STYLE="font-size: 11pt">By: </FONT><U>/s/Marc Majzner</U>___</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">Name: Marc Majzner</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">Title: Limited Partner</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">CLEARLINE CAPITAL LLC</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 4in"><FONT STYLE="font-size: 11pt">By: </FONT><U>/s/Marc Majzner</U>___</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">Name: Marc Majzner</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">Title: Managing Member</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 4in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 4in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">MARC MAJZNER</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 4in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 4in"><U>/s/Marc Majzner</U>___</P>

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