Acura Pharma submits Investigational NDA Acura Pharmaceuticals announced that an Investigational New Drug application, or IND, has been filed with the FDA to allow clinical testing of Acura's hydrocodone bitartrate with acetaminophen formulated with Aversion Technology. Clinical testing can commence under the IND 30 days following the IND filing unless questions are raised by the FDA. An open IND is required for Acura to initiate intranasal abuse liability testing in recreational drug users of the crushed drug product.
Acura Pharma to raise about $7.6M from certain institutional investors Acura Pharmaceuticals announced it has entered into a Securities Purchase Agreement with certain institutional investors to sell 9.79M shares of common stock at a price of 78c per share, payable at closing. Roth Capital Partners served as sole placement agent for the offering. After placement agent fees and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $7.05M. The offering is expected to close on or about July 7, subject to customary closing conditions. The company intends to use the net proceeds from the offering for general corporate purposes, funding product development and for general and administrative expenses.