AcelRx – Biotech IPOs of 2011

Posted under AcelRx, Biotech IPO, Blog, Companies, Diagnostics, Funding, Medical Devices, Medical Supply, Pharmaceuticals, Startups, Universities, Videos by Maureen Martino

Company: AcelRx ($ACRX)
Based: Redwood City, CA
Raised: $40M (8M shares at $5)
Target range: $12 to $14
Current price: $2.92 

Scoop: AcelRx, which has a pipeline of post-operative and cancer pain drugs, initially shot for an $86 million IPO in 2010 but had to accept less than half of that when it debuted in February. To make up the difference, company execs got a $20 million loan from Hercules Technology Growth Capital to help finance Phase III work on lead drug ARX-01, which they said gave the company enough cash to see it through the first quarter of 2013.

ARX-01 is a drug/device combo that uses a hand-held device to deliver pain drug sufentanil under the tongue. It also has two Phase II programs--ARX-02 and ARX-03--for cancer pain and mild sedation, respectively. AcelRx has no marketed products.