AcelRx Pharma slides on sale of opioid pain drug

Talphera

14/03/2023 15:25

** Shares of drug developer AcelRx Pharmaceuticals Inc  ACRX.O  fall ~18% to
90 cents 
    ** Co says it has agreed to sell its opioid-based pain treatment, Dsuvia, to
privately owned Alora Pharmaceuticals    
    ** Deal enables ACRX to receive up to $116.5 million in potential
sales-based milestone payments -ACRX 
    ** Co also eligible to receive 15% royalties on commercial sales and 75%
royalties on Department of Defense (DoD) sales -ACRX
    ** Dsuvia is approved for moderate-to-severe pain in medically supervised
settings such as emergencies and for use in post-operative patients
    ** ACRX to now prioritize development of its experimental blood thinner drug
    ** Including session's moves, stock tumbled ~86% over the past 12 months

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))