X0306 4 2016-06-16 0 0000818033 HERON THERAPEUTICS, INC. /DE/ HRTX 0001178579 TANG KEVIN C 4747 EXECUTIVE DRIVE SUITE 510 SAN DIEGO CA 92121 1 0 1 0 0001232621 TANG CAPITAL MANAGEMENT LLC 4747 EXECUTIVE DRIVE, SUITE 510 SAN DIEGO CA 92121 0 0 1 0 0001191935 TANG CAPITAL PARTNERS LP 4747 EXECUTIVE DRIVE, SUITE 510 SAN DIEGO CA 92121 0 0 1 0 Common Stock 2016-06-16 4 M 0 1250000 3.60 A 6117530 I By LP Common Stock 2016-06-16 4 F 0 243639 18.47 D 5873891 I By LP Common Stock 14347 I As Trustee Common Stock 6941 D Warrant (Right to Buy) 3.60 2016-06-16 4 M 0 1250000 0.00 D 2011-07-01 2016-07-01 Common Stock 1250000 0 I By LP On June 16, 2016, Tang Capital Partners, LP exercised a warrant to purchase 1,250,000 shares of the Issuer's Common Stock. The warrant was exercised by way of cashless exercise, which resulted in the withholding of 243,639 of the warrant shares to pay the exercise price and the issuance of 1,006,361 shares of the Issuer's Common Stock to Tang Capital Partners, LP. The exercise of the warrant, the withholding of the warrant shares and the resulting issuance of the shares of the Issuer's Common Stock were exempt under Section 16b-3 of the Securities Exchange Act of 1934. The securities are held by Tang Capital Partners, LP and Tang (APPA) Holdings, LLC. Kevin C. Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of Tang Capital Partners, LP. Tang Capital Partners, LP is the sole manager of Tang (APPA) Holdings, LLC. Mr. Tang disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein. The securities are held by Kevin C. Tang as custodian for his minor children, as Trustee of the Kevin C. Tang Family Trust, and as Trustee of the Tang Advisors, LLC Profit Sharing Plan. 2,147 of these securities are held by Kevin C. Tang's IRA. /s/ Kevin C. Tang 2016-06-20 /s/ Kevin C. Tang, Managing Member 2016-06-20 /s/ Kevin C. Tang, as Managing Member of Tang Capital Management, LLC, General Partner 2016-06-20