AcelRx Q4 2019 Earnings Report
Key Takeaways
AcelRx Pharmaceuticals reported Q4 2019 net revenues of $0.5 million and a net loss of $14.4 million, or $0.18 per share. The company exceeded its 2019 goals for REMS-certified facilities and formulary approvals, with 166 and 148 respectively by year-end.
The Company is on track to achieve its previously communicated target of 465 REMS-certified facilities and formulary approvals by the end of 2020.
As of March 15, 2020, 218 healthcare facilities are now REMS-certified and able to purchase DSUVIA and 223 formulary approvals have been achieved.
Confirmed timing for April 2020 DSUVIA Milestone C meeting with the Department of Defense, with procurement recommendation expected post-meeting.
Announced an agreement with Brigham and Women’s Hospital for an investigator-initiated study to examine the perioperative use of DSUVIA in the analgesic regimen for spine surgery.
AcelRx
AcelRx
Forward Guidance
The Company’s year-end goals include obtaining 465 REMS-certified facilities and 465 formulary approvals in 2020. Quarterly combined R&D and SG&A expense in 2020 is expected to range from $10 million to $13 million, depending on the quarter, and includes approximately $1 million of non-cash stock-based compensation per quarter ($9 million to $12 million excluding stock-based compensation expense).
Positive Outlook
- The Company is on track to achieve its previously communicated target of 465 REMS-certified facilities and formulary approvals by the end of 2020.