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.