AcelRx Pharmaceuticals, Inc. (ACRX) is a leading specialty biopharmaceutical company which develops and commercializes of the therapeutics for treatment of acute inflammation. There is only one approved product known as DSUVIA used for treating acute pain. Some other leading product candidates include Zalviso and ready to use syringes of ephedrine and phenylephrine.
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The price of ACRX stock during the regular trading of December 21, 2021 was $0.56 with a minute gain of 0.27%. At the last check on December 21, 2021, in the pre-market, the stock was further up by 4.30%.
Events and Happenings
On December 15, 2021, ACRX reported the publication of authentic data in the Journal of Orthopedic Experience and Innovation. The research was performed on the patients who had undergone replacement of total hip or total knee. The results showcased reduced length of hospital stay and also reduced utilization of opioid after given the dose of sublingual against standard IV opioids.
On November 15, 2021, ACRX reported its entry into a collaboration with two investment funds for the sale of 17,500,000 shares of common stock and warrants exercisable for a sum of 17,500,000 shares of common stock. The offering price for the common stock and warrants was $0.80 per share.
On November 15, 2021, ACRX reported the finalization of a definitive merger partnership to purchase Lowell Therapeutics which was a private firm. ACRX also announced its third quarter 2021 financial results. The quarter ended on September 30, 2021. Some of the financial highlights are as follows
Net revenue was $1.9 million reported for the third quarter 2021 as compared to the same period prior year when net revenue was $1.4 million.
Net Loss per Share
Basic and diluted net loss for the third quarter of 2021 was $8.4 million or $0.07 per share, against $8.9 million or $0.10 per share, for the same quarter of 2020.
Total assets of the company were reported to be $72.2 million for Q3 2021 as compared to same period prior year when the assets were $66.1 million.
On September 10, 2021, ACRX reported that the top management of the company represented the company at the H.C. Wainwright & Co. 23rd Annual Global Investment Conference held on September 13-15, 2021 and Cantor Fitzgerald Global Healthcare Conference held virtually on September 27-30, 2021.
Although the stock of ACRX went down 20% as compared to last month, the company’s stock is inclining by leaps and bounds. The increase is due to uncertain market conditions and are a result of the investors placing their trust in the company’s policies. The company’s strategy to attract potential investors is going to benefit the company in coming days.