AcelRx Q4 2020 Earnings Report
Key Takeaways
AcelRx Pharmaceuticals reported Q4 2020 net revenues of $0.7 million and a net loss of $8.9 million, or $0.10 per share. The company achieved several milestones, including Milestone C approval from the Department of Defense and expansion of U.S. military access to DSUVIA.
Q4 2020 net revenues were $0.7 million.
Full year 2020 revenues were $5.4 million, compared to $2.3 million in 2019.
Q4 2020 net loss was $8.9 million, or $0.10 per share, compared to $14.4 million, or $0.18 per share, for Q4 2019.
Cash, cash equivalents, and short-term investments were $42.9 million as of December 31, 2020.
AcelRx
AcelRx
Forward Guidance
AcelRx's 2021 year-end goals include obtaining 615 cumulative formulary approvals. Quarterly combined R&D and SG&A expense is expected to be approximately $9-$10 million (and $8.0-$8.5 million excluding stock compensation and depreciation).
Positive Outlook
- Obtaining 615 cumulative formulary approvals as we expect COVID restrictions on elective surgeries to be loosened in the second half of 2021.
- Quarterly combined R&D and SG&A expense is expected to be approximately $9-$10 million (and $8.0-$8.5 million excluding stock compensation and depreciation).
- Annual debt service is expected to approximate $10 million as we continue to pay down amounts outstanding under our senior debt facility.
- Annual capital expenditures are expected to range from $4-$5 million attributed mainly to the final installation of our new high-volume, automated packaging line at our contract manufacturer.
- We expect initial packaging batches to be produced at the end of this year, with commercial batches beginning after regulatory approvals are received in Q3 2022.