Categories Earnings, Health Care

AcelRx Pharmaceuticals (ACRX) Q4 2019 Earnings Snapshot

— Specialty pharmaceutical company AcelRx Pharmaceuticals (NASDAQ: ACRX) reported fourth quarter 2019 loss of $0.18 per share vs. expected loss of $0.20 per share.

— Revenue was $0.48 million vs. $1.01 million expected.

Earnings Update by AlphaStreet

— AcelRx also announced today about its acquisition of Tetraphase Pharmaceuticals for $14.4 million. This stock for stock deal is expected to close in the second quarter of 2020.

— AcelRx and Tetraphase have also entered into a co-promotion agreement, which will benefit both the teams in promoting multiple products, leveraging each company’s customer relationships, and creating efficiencies among commercial teams prior to the closing of the merger.

— AcelRx expects to achieve its previously communicated target of 465 REMS-certified facilities and formulary approvals by the end of 2020.

— The company expects quarterly combined R&D and SG&A expense in 2020 to range from $10 million to $13 million, depending on the quarter. This estimate includes approximately $1 million of non-cash stock-based compensation per quarter.

— ACRX stock was down more than 10% in the pre-market trading session.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Also Read:  Sempra Energy (NYSE: SRE): Q3 2019 Earnings Snapshot

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