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News Breaks
July 28, 2014
08:56 EDTACRXAcelRx price target lowered to $12 from $14 at JMP Securities
JMP Securities cut its price target on AcelRx after the company received a Complete Response Letter from the FDA. The firm thinks the requests in the letter were minor, and the firm now assumes that the launch of the drug will be delayed a year until early 2016. However, it sees a 90% chance of the drug being approved and keeps an Outperform rating.
News For ACRX From The Last 14 Days
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October 1, 2015
06:09 EDTACRXAcelRx to host analyst and investor day
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September 21, 2015
07:02 EDTACRXPDL BioPharma acquires a portion of AcelRx's expected sales for $65M
PDL BioPharma (PDLI) announced that it has acquired a portion of the royalties on expected sales of AcelRx Pharmaceuticals (ACRX) Zalviso in the European Union, Switzerland and Australia by its commercial partner, Grunenthal. Under the terms of the agreement, PDL has provided AcelRx with gross proceeds of $65M, and in exchange, PDL will receive 75% of the royalties AcelRx receives from Grunenthal as well as 80% of the first four commercial milestones subject to a capped amount. Zalviso is a combination drug and device product which, using a patient controlled dispenser, delivers a sub-lingual formulation of sufentanil, an opioid with a high therapeutic index. It is being evaluated for the treatment of moderate to severe post-operative pain in the hospital setting and could be used in lieu of intravenous patient-controlled analgesia. Zalviso has been submitted for product approval in the European Union and has received a positive opinion from the Committee for Medicinal Products for Human Use of the European Medicines Agency. Pending approval, Grunenthal expects to launch Zalviso beginning in the first half of 2016, and PDL expects to begin receiving royalties shortly thereafter.

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