Acura Pharmaceuticals, Inc. Announces Implementation of Reverse Stock Split and New Trading Sy...( PALATINE Ill. Dec. 4 /- Acura Pha...),Health

PALATINE, Ill., Dec. 4 /PRNewswire-FirstCall/ -- Acura Pharmaceuticals, Inc. (OTC Bulletin Board: ACUR) today announced the filing of an amendment to its Certificate of Incorporation effecting a 1 for 10 reverse stock split. Commencing December 5, 2007, the Company's common stock will trade on a split adjusted basis under the symbol "ACPH". The Company's intent to effect a reverse stock split was announced on October 31, 2007 and was subject to meeting certain OTC Bulletin Board requirements which have now been met.

Objectives of the Reverse Stock Split

The Company's primary objectives for implementing the reverse stock split are to reduce the number of outstanding common shares to be generally consistent with comparable companies and attempt to raise the per share trading price of its common stock in an effort to obtain a listing on the American Stock Exchange ("AMEX") or the Nasdaq Capital Market ("NASDAQ"). While the Company intends that the reverse split will increase the bid price per share of its common stock above the minimum prices required for listing by AMEX and NASDAQ, there can be no assurance that the reverse split will have that effect, initially or in the future, or that it will enable the Company to achieve the listing of its common stock on the AMEX or the NASDAQ. In addition, there can be no assurance that the price per share of the Company's common stock immediately after the reverse split will increase proportionately with the reverse split or that any price per share increase will be sustained for any period of time.

Impact of Reverse Stock Split on Number of Shares Held

Shareholders of record will be entitled to receive a new stock certificate representing the number of shares calculated by dividing their pre-split share holdings by 10. If the total number of pre-split shares that a shareholder holds is not evenly divisible by 10, the shareholder will receive cash in an amount equal to the fraction of a share
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