AcelRx Pharmaceuticals takes a chill pill; reports Q2 loss, misses revenue estimates

AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) released its second-quarter results Thursday, missing estimates and reporting a loss of US$10.5 million. 

The drugmaker, which develops under-the-tongue therapies for acute pain, posted revenue of US$818,000 in the period. 

In the second quarter of 2018, its net loss was US$10.5 million, or US$0.20 per basic and diluted share, compared to US$13.1 million, or US$0.29 per basic and diluted share, for the second quarter of 2017.

READ: AcelRx Pharmaceuticals receives European regulatory approval for its opioid pain killer DZUVEO

In after-hours trading, shares of the California-based company were down 1.9% at US$2.60.

“The first half of the year has been productive on all fronts as we have accomplished all the milestones we established for the period. We’re very focused on reaching our remaining milestones for the year and, if DSUVIA is approved in November, eager to start commercializing our first U.S. product in Q1 2019,” said chief executive Vince Angotti in a statement. 

“We continue to believe we have a unique product for the management of moderate to severe acute pain that can fulfill an unmet need within appropriate healthcare settings. We look forward to continued dialogue with the FDA during the coming months to achieve these objectives.”

In May, the U.S. Food and Drug Administration (FDA) accepted the New Drug Application (NDA) for DSUVIA in May. The company also received approval from the European Commission for DZUVEO for the management of acute moderate-to-severe pain in medically monitored settings.

Story by ProactiveInvestors