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AcelRx Pharmaceuticals Reports Third Quarter 2013 Financial Results
Date:11/5/2013

REDWOOD CITY, Calif., Nov. 5, 2013 /PRNewswire/ -- AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX),  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 three and nine months ended September 30, 2013.

"With the submission of our NDA at the end of September for Zalviso™, AcelRx has commenced activities related to an anticipated U.S. commercial launch," stated Richard King, president and CEO of AcelRx.  "We also continue to actively participate in key medical meetings worldwide to increase awareness of the results from our completed Zalviso Phase 3 clinical trials among a broad audience of medical professionals involved in pain treatment.  Having appointed our Chief Commercial Officer last quarter, we are working diligently to prepare Zalviso to be well positioned for launch in the US market, subject to regulatory approval."

Third Quarter and Nine Months Financial ResultsNet loss for the third quarter of 2013 was $11.0 million, or $0.26 per share, compared with a net loss of $8.6 million, or $0.38 per share for the third quarter of 2012.  The adjusted net loss for the third quarter of 2013 was $8.6 million, or $0.21 per share and excludes a $2.4 million non-cash expense resulting from the liability accounting related to warrants issued in connection with the PIPE financing completed in June 2012.  There was no such expense recorded in the third quarter of 2012.

During the third quarters of 2013 and 2012, AcelRx recognized revenue of $0.5 million and $0.2 million, respectively, as reimbursement for work completed under a research grant from the U.S. Army Medical Research and Materiel Command, or USAMRMC, for development of ARX-04, a sufentanil NanoTab product candidate for the treatment of moderate-to-severe acute pain
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SOURCE AcelRx Pharmaceuticals, Inc.
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