is to improve the lives of patients by developing novel, best-in-class treatments

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2 OUR MISSION is to improve the lives of patients by developing novel, best-in-class treatments to address some of the most important unmet patient needs.

3 OUR MISSION We aim to develop patient-focused solutions by applying our innovative science and technologies to therapeutic agents with well-known pharmacology, making our products: More effective than other pharmaceutical agents in the same class Safer or better tolerated than other pharmaceutical agents in the same class Better able to address the multiple pathways of a disease or disorder through new mechanisms of action and delivery Potentially able to reduce the dependence on other classes of drugs with more harmful side effects, such as opioids

4 HERON THERAPEUTICS COMPANY TIMELINE November Launches program to develop long-acting local anesthetic for post-operative pain Discloses SUSTOL brand name, plans for MAGIC study $60M Underwritten Offering of Common Stock closes March Launches Phase 3 MAGIC study of SUSTOL June Heron joins Russell 3000 Index $59.8M Underwritten Offering of Common Stock closes May Heron reports positive top-line data for SUSTOL from Phase 3 MAGIC study January Company changes name to Heron Therapeutics, Inc. New Board of Directors is appointed Heron is relisted on NASDAQ Capital Market trading under symbol HRTX May HTX-011 demonstrates positive preclinical data and moves to clinical development November Discloses development program for CINVANTI (HTX-019), NK 1 for CINV

5 HERON THERAPEUTICS COMPANY TIMELINE (CONT) July Heron resubmits NDA for SUSTOL to FDA August US FDA approves SUSTOL (granisetron) extended-release injection HTX-011 demonstrates Phase 2 efficacy for pain management after hernia surgery January Heron submits NDA for CINVANTI to FDA Announces best-in-class Phase 2 data for HTX-011 in post-operative pain $163.7M Underwritten Offering of Common Stock closes June HTX-011 enters Phase 2 development $128.2M Underwritten Offering of Common Stock closes September Heron reports positive top-line data for HTX-011 from first Phase 2 study December Partners with Susan G. Komen to raise awareness for the importance of supportive care in the treatment of breast cancer August Initiated Phase 3 program for HTX-011 after successful End-of-Phase 2 meeting with FDA Increased SUSTOL guidance for 2017 based on increased net product sales of SUSTOL in first half of 2017

6 OUR PRODUCT AND PIPELINE We are developing novel, patient-focused solutions that apply our innovative science and technologies, such as our proprietary Biochronomer drug delivery technology, to already approved pharmacological agents. SUSTOL (granisetron) extended-release injection is approved by the US Food and Drug Administration (FDA).

7 OUR PRODUCT AND PIPELINE We are committed and focused on maximizing patient care, from CINV prevention to post-operative pain management. Robert H. Rosen, President

8 OUR PRODUCT AND PIPELINE We are currently developing and commercializing pharmaceutical products for patients suffering from cancer or post-operative pain: Clinical NDA Approved SUSTOL (granisetron) extended-release injection Now Approved by US Food and Drug Administration CINVANTI (HTX-019) (aprepitant) injectable emulsion IV NK 1 for CINV Prevention PDUFA Date: November 12, 2017 HTX-011 bupivacaine and meloxicam ER Local Administration Post-Op Pain in Local Administration EoP2 meeting completed Phase 3 program initiated HTX-011 bupivacaine and meloxicam ER Nerve Block Post-Op Pain in Nerve Block Phase 2 program in nerve block underway Chemotherapy-induced Nausea and Vomiting (CINV) Pain Management

9 OUR PRODUCT AND PIPELINE SUSTOL (granisetron) extended-release injection, which incorporates Biochronomer technology, is indicated for the prevention of acute and delayed nausea and vomiting associated with initial and repeat courses of moderately emetogenic chemotherapy or anthracycline and cyclophosphamide (AC) combination chemotherapy regimens CINVANTI (HTX-019), an IV polysorbate 80-free formulation of aprepitant, is a neurokinin-1 (NK ) receptor antagonist in development for the prevention of CINV 1 HTX-011 leverages meloxicam in a unique combination with bupivacaine to potentiate a powerful local analgesic effect, delivered over 72 hours via the Biochronomer technology

10 VALUES

11 OUR VALUES The goal for everyone at Heron Therapeutics is to develop best-in-class medicines that have the potential to significantly improve the lives of patients suffering with the debilitating effects of chemotherapy and acute pain. Helping patients is at the core of everything we do. Barry D. Quart, PharmD., Chief Executive Officer

12 OUR VALUES Improve care and quality of life by developing important therapies that fill unmet needs Keep the patient and customer at the center of everything we do Conduct our interactions with the highest degree of honesty, transparency, and integrity Create a high-performance organization respected by customers, competitors, and society Engage and energize our people by nourishing their unparalleled passion for altruism and accomplishment Increase shareholder value by ensuring broad access to Heron products

13 2017 Heron Therapeutics, Inc. All rights reserved. 09/17 herontx.com

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