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14 Feb 2011

AcelRx Declines Short in $40M IPO

AcelRx expected $40 million in gross proceeds from its IPO. But the company managed the garner just $5 per share.

Pain treatment developer AcelRx Pharmaceuticals aimed high but fell short. The Redwood City, CA-based devloper had hoped to raise $86 million in an initial offering of 8 million shares at $12 to $14 per share. But the company managed the garner just $5 per share for a total $40 million in funding.

 

The company is developing a pipeline of post-operative and breakthrough cancer pain as well as a mild sedative. Its lead drug is ARX-01, a drug/device comp nation that delivers sufentanil (a synthetic opioid analgesic) under the tongue. It

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