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AcelRx Pharmaceuticals Reports Fourth Quarter and Full-Year 2012 Financial Results
Date:3/12/2013

REDWOOD CITY, Calif., March 12, 2013 /PRNewswire/ -- AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX), ("AcelRx"), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of acute and breakthrough pain, today reported financial results for the fourth quarter and year ended December 31, 2012, and provided a corporate update.

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"We made important strides in the advancement of our sublingual Sufentanil NanoTab PCA System for the management of moderate to severe post-operative pain in 2012 and early 2013.  We announced positive results from two completed Phase 3 clinical trials, and we expect the results from our third and final planned Phase 3 trial of the NanoTab System in the second quarter of 2013," stated Richard King , President and CEO of AcelRx. Mr. King added, "In addition, in December 2012, we strengthened our balance sheet when we raised $48 million in gross proceeds, $44 million in net proceeds, through a public offering of our common stock. These funds will provide the capital needed to submit an NDA for the NanoTab System, expected in the third quarter of 2013, and to continue with commercial preparations for launch of the product in the U.S."

Fourth Quarter and Full Year Financial ResultsNet loss for the fourth quarter of 2012 was $10.5 million, or $0.41 per share, compared with a net loss of $6.4 million, or $0.33 per share, for the fourth quarter of 2011.  Common shares used in calculating basic and diluted earnings per share were 25,587,614 for the fourth quarter of 2012 compared to 19,567,778 common shares for the fourth quarter of 2011.

During the fourth quarter of 2012, Acel
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SOURCE AcelRx Pharmaceuticals, Inc.
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