AcelRx Pharma announces pricing of public offering of common stock
AcelRx Pharmaceuticals, Inc announced the pricing of its previously underwritten public offering of 12,500,000 shares of its common stock, offered at a price of $3.33 a share to the public.
The gross proceeds to AcelRx from this offering are expected to be about $4.138 million. All the shares in the offering will be sold by AcelRx. The offering is expected to close on or about December 12. T
The company has granted the underwriters a 30-day option to buy up to an aggregate of 1,875, 000 additional shares of the common stock.
Jefferies & Company, Inc and Cowen and Company, LLC are acting as joint book-running managers for the offering with Canaaccord Genuity, Inc acting as co-lead manager.
AcelRx Pharmaceuticals is a specialty pharmaceutical company focusing on development and commercialization of innovative therapies to treat acute and breakthrough pain.
The company was founded to solve the problems of post-operative intravenous patient-controlled analgesia. It has three additional product candidates in clinical development:
ARX-02 for treating of cancer through pain, ARX-03 to provide mild sedation, anxiety reduction and pain relief for patients undergoing painful procedures in a physician’s office and ARX-04, a non-invasive, fast-onset sublingual product to treat moderate-to-severe acute pain.