ACRX - AcelRx adds 16% on plans to divest pain therapy

2023-03-14 09:20:37 ET

AcelRx Pharmaceuticals ( NASDAQ: ACRX ) gained 16% pre-market Tuesday after announcing an agreement to divest its FDA-approved pain therapy Dsuvia to Alpharetta, GA-based Alora Pharmaceuticals.

Per the terms, AcelRx ( ACRX ) will be entitled to 15% royalties on commercial sales and 75% royalties on sales to the Department of Defense. There will also be up to $116.5M in sales-based milestones.

AcelRx ( ACRX ) is required to provide transition services for up to six months after closing the deal, which is expected by the end of this month.

Dsuvia (sufentanil sublingual tablet), sold as Dzuveo in Europe, is indicated for use in certified medically supervised healthcare settings for pain management in adults.

"The divestment of DSUVIA marks a new chapter in the evolution of AcelRx enabling our laser focus on the advancement of our high-value, late-stage development assets led by Niyad," Chief Executive of AcelRx ( ACRX ), Vince Angotti remarked.

The company expects to submit an Emergency Use Authorization (EUA) submission filing in H1 2023 for Niyad, an anticoagulant that has received FDA's Breakthrough Device Designation.

In December, AcelRx ( ACRX ) announced peer-reviewed data supporting the potential of sufentanil tablets in postoperative pain management.

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