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Mar 31, 2021
AcelRx Q1 2021 Earnings Report
AcelRx reported first quarter 2021 financial results.
Key Takeaways
AcelRx Pharmaceuticals reported $67.3 million in cash and short-term investments as of March 31, 2021. First quarter net revenues were $0.5 million, and net loss was $9.0 million, or $0.08 per share.
Issued approximately $36.4 million of stock through an underwritten public offering and under its At-the-Market sales agreement.
Achieved 432 formulary approvals through April 2021.
Provided a response to the FDA Warning Letter and dialogue is ongoing.
Net revenues were $0.5 million.
AcelRx
AcelRx
Forward Guidance
AcelRx anticipates continued progress in commercializing DSUVIA and believes it has successfully addressed the points raised in the FDA Warning Letter.
Positive Outlook
- Continued progress on the commercialization of DSUVIA
- Easing of the pandemic
- April was the highest commercial ordering month since the launch
- Committed to building the body of evidence for DSUVIA
- Ongoing dialogue with the FDA to ensure a successful closeout
Challenges Ahead
- Ongoing effects of the COVID-19 pandemic
- Uncertainties inherent in the initiation, execution and completion of investigator-initiated studies
- Risks and uncertainties that could cause actual results to differ materially
- Higher enrollment of younger compared to older patients
- Opioid-tolerant patients were excluded