AcelRx rises on deal to acquire Lowell, Q3 revenue jump

Talphera

15/11/2021 11:53

** Shares of drugmaker AcelRx Pharmaceuticals Inc  ACRX.O 
rise 3.8% to $0.82 premarket
    ** ACRX to acquire privately held Lowell Therapeutics Inc,
giving it access to Niyad, an anticoagulant being developed in
the U.S. for kidney disease patients undergoing dialysis
    ** Deal valued at about $32.5 mln plus net cash acquired and
certain other adjustments  urn:newsml:reuters.com:*:nPn8nvV2Fa
    ** The active drug component of Niyad has been approved in
Japan and South Korea as a regional anticoagulant - ACRX
    ** Co expects deal to close in the fourth quarter of 2021
    ** Q3 revenue rises 36% to $1.86 mln, driven by payment from
Laboratoire Aguettant for the license to market Dzuveo, ACRX's
pain management drug in Europe
    ** Stock down nearly 36% YTD, up to the last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))