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AcelRx Pharmaceuticals Reports Second Quarter 2012 Financial Results
Date:8/9/2012

re, compared with a net loss of $8.0 million, or $0.53 per share for the same period in 2011. Common shares used in calculating basic and diluted earnings per share were 20,114,608 for the six months ended June 30, 2012 compared to 15,058,546 common shares for the same period in the prior year.

As of June 30, 2012, AcelRx had cash, cash equivalents and investments of $31.9 million, compared to $27.7 million at March 31, 2012 and $35.8 million at December 31, 2011.

"AcelRx continues to successfully execute its product development plans. We have initiated and are actively enrolling in two ARX-01 Phase 3 clinical trials, which are expected to report top-line data in the fourth quarter of 2012.  We also expect to initiate our third Phase 3 study in the third quarter.  We strengthened our intellectual property position with the recent issuance of three U.S. patents associated with our sufentanil NanoTabs, offering protection out to 2030," noted Richard King, President and CEO of AcelRx.  "In June, we completed a $10.0 million financing extending our cash horizon into the second quarter of 2013."

Development Update

  • In March 2012, AcelRx initiated the first of three planned Phase 3 clinical trials for ARX-01, a double-blind, placebo-controlled efficacy and safety trial of adult patients with post-operative pain following open-abdominal surgery.  Patient recruitment for this study is ongoing and we expect top-line data for this study in the fourth quarter of 2012.
  • In April 2012, AcelRx initiated a second Phase 3 clinical trial, an open-label active-comparator study comparing ARX-01 to the current standard of care, IV PCA with morphine, in patients with post-operative pain following open-abdominal surgery or major orthopedic surgery. Patient recruitment for this study is also ongoing, and we expect top-line data in the fourth quarter of 2012.
  • In the third quarter, AcelRx plans to initiate our third planne
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    • SOURCE AcelRx Pharmaceuticals, Inc.
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