— 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.
— 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.
Most Popular
GIS Earnings: All you need to know about General Mills’ Q1 2025 earnings results
General Mills, Inc. (NYSE: GIS) reported its first quarter 2025 earnings results today. Net sales decreased 1% year-over-year to $4.8 billion. Organic sales were down 1%. Net earnings attributable to
Guardian Pharmacy seeks to raise up to $108 mil in US IPO
Joining the wave of healthcare IPOs this year, amid Fed rate cut expectations, Guardian Pharmacy Services, Inc. is preparing to go public. In a statement filed with the Securities and
Earnings Preview: Will Micron (MU) maintain recovery momentum in Q4?
After recovering from a rough patch, Micron Technology Inc. (NASDAQ: MU) is preparing to report fourth-quarter results next week, even as the market keeps a close watch on the event
