HRTX may have the best CEO in small-cap biotech. Recent Ph3 results fro post-operative pain set it up for FDA approval and opioid-sparing status PDUFA for post operative pain should be set for mid-2019. CINV franchise is still growing. TSRO will stop promoting competing treatment, due to safety issues. EOY/17 Cash = $172.4mn with AR = $41.8mn The high AR was due to a lack of J-code for CINV franchise. Since EOY/17, HRTX acquired the J-code and raised $169mn in an offering.