Why AcelRx Pharmaceuticals, Inc. Shares Popped Today
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of specialty drug company AcelRx Pharmaceuticals, Inc. climbed 10% today after its quarterly results and corporate update impressed Wall Street.
So what: AcelRx has soared over the past year on strong progress of its post-operating pain control drug Zalviso, and today's Q1 results -- $27.6 million versus the consensus of just $4.9 million -- coupled with an upbeat outlook only reinforce that positive trend. In fact, management expects to trigger the first of its Grunenthal regulatory milestones in mid-2014 with the submission of its European marketing application, which should result in a $5 million payment in Q3.
Now what: Don't expect the momentum to slow anytime soon. "As we begin 2014, we are advancing our U.S. commercial capability and preparing for a potential Zalviso approval in third quarter of 2014," said President and CEO Richard King. "We are also readying Zalviso for MAA filing in Europe, and preparing to initiate a Phase 3 clinical program for ARX-04 in the second half of this year." So while the shares remain far too speculative for average investors, Zalviso's market potential might be something for biotech-savvy Fools to investigate.
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The article Why AcelRx Pharmaceuticals, Inc. Shares Popped Today originally appeared on Fool.com.Brian Pacampara has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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