AcelRx Q2 2020 Earnings Report
Key Takeaways
AcelRx Pharmaceuticals reported Q2 2020 net revenues of $2.9 million, which included $2.6 million related to the Zalviso agreement with GrĂĽnenthal. The company's net loss was $6.6 million, or $0.08 per share, compared to a net loss of $12.4 million, or $0.16 per share, for the second quarter of 2019. The company also achieved Milestone C approval from the Department of Defense and entered into an exclusive distribution agreement with Zimmer Biomet for dental surgeries.
DSUVIA achieved Milestone C approval from the Department of Defense, approving it for use in all U.S. Army sets, kits and outfits (SKOs).
AcelRx expects initial stocking orders for U.S. Army SKOs alone will approximate $30 million over the next three years, dependent on troop deployment schedules.
AcelRx entered into a distribution agreement with Zimmer Biomet to market DSUVIA within the dental and oral surgery markets in the United States exclusively through Zimmer Biomet's Dental division.
AcelRx completed a $10 million common stock offering priced at the market with two leading life science investors.
AcelRx
AcelRx
Forward Guidance
AcelRx expects that the revenue streams from the Department of Defense and Zimmer Biomet agreement will be the main drivers of near-term revenue growth. Hospital and ambulatory surgery centers remain the core focus of the commercial team, and they expect recent hospital system wins to positively impact revenues in the mid to long term.