AcelRx Pharmaceuticals (NASDAQ:ACRX) stock observed trading -79.00% off 52-week high price. On the other end, the stock has been noted -7.70% away from low price over the last 52-weeks. The stock disclosed a move of -48.97% away from 50 day moving average and -60.25% away from 200 day moving average. Moving closer, we can see that shares have been trading -39.06% off 20-day moving average. It has market cap of $78.42M.
On March 16, 2020, AcelRx Pharmaceuticals (NASDAQ:ACRX) a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings, revealed its fourth quarter and full year 2019 financial results.
Fourth Quarter and Recent Highlights
- Announced an agreement to acquire Tetraphase Pharmaceuticals in a stock for stock transaction at an exchange ratio of 0.6303 shares of AcelRx for each share of Tetraphase, valuing Tetraphase at $14.4 million as of the close of trading on March 13, 2020. Also entered into a co-promotion agreement to immediately begin realizing commercial combination benefits prior to closing of the acquisition.
- The Company is on track to achieve its previously communicated target of 465 REMS-certified facilities and formulary approvals by the end of 2020. As of March 15, 2020, 218 healthcare facilities are now REMS-certified and able to purchase DSUVIA and 223 formulary approvals have been achieved.
- Confirmed timing for April 2020 DSUVIA Milestone C meeting with the Department of Defense, with procurement recommendation expected post-meeting.
- Announced an agreement with Brigham and Women’s Hospital for an investigator-initiated study led by Richard D. Urman MD, MBA, Associate Professor of Anesthesia and co-director of the Center for Perioperative Research at Brigham and Women’s Hospital and Harvard Medical School. The study plans to examine the perioperative use of DSUVIA in the analgesic regimen for spine surgery.
- Financial Information
- Cash, cash equivalents and short-term investments balance of $66.1 million as of December 31, 2019;
- Fourth quarter 2019 net revenues were $0.5 million, and for the full year 2019 were $2.3 million, as previously announced;
- Combined R&D and SG&A expenses for the fourth quarter of 2019 totaled $13.8 million compared to $10.4 million for the fourth quarter of 2018. Excluding stock-based compensation expense, these amounts were $12.6 million for the fourth quarter of 2019 compared to $9.2 million for the fourth quarter of 2018. R&D and SG&A expenses for the year ended December 31, 2019 totaled $49.7 million compared to $33.9 million for the year ended December 31, 2018. Excluding stock-based compensation expense, these figures were $44.9 million for the year ended December 31, 2019 compared to $29.1 million for the year ended December 31, 2018. The increase in combined R&D and SG&A expenses is primarily due to increased personnel-related expenses for the commercial launch of DSUVIA. See the Reconciliation of Non-GAAP Financial Measures table below for a reconciliation of the non-GAAP operating expenses described above to their related GAAP measures;
- Net cash outflow for the fourth quarter of 2019 was $14.3 million, including $0.6 million in debt service, and for the year-ended December 31, 2019 was $39.6 million, and;
- For the fourth quarter of 2019, net loss was $14.4 million, or $0.18 per basic and diluted share, compared to $12.6 million, or $0.18 per basic and diluted share, for the fourth quarter of 2018. Net loss for the year ended December 31, 2019 was $53.2 million, or $0.67 per basic and diluted share, compared to $47.1 million, or $0.81 per basic and diluted share, for the year ended December 31, 2018.
The USA based company AcelRx Pharmaceuticals moved with change of -18.46% to $0.84 with the total traded volume of 1840346 shares in recent session versus to an average volume of 886.11K. The stock was observed in the 5 days activity at -35.89%. The one month performance of stock was -49.71%. ACRX’s shares are at -63.64% for the quarter and driving a -72.91% return over the course of the past year and is now at -60.19% since this point in 2018. Right now the stock beta is 1.78. The average volatility for the week and month was at 19.17% and 11.86% respectively. There are 93.37M shares outstanding and 70.58M shares are floated in market.