Investor Relations (IR) Questions: AcelRx Pharmaceuticals ACRX
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Answers received: January 2013
1) When is the last time ACRX raised cash through an offering (diluted)?
The last time we raised money was a month ago, in early December. It was a public offering, where we raised a total of $47 million.
2) How much cash (not cash equivalents) does ACRX have?
We ended Q3 2012 with $23 million. We raised $47 million, $44 net after expenses. This cash gets us out to the mid-part of Q3 2014.
3) What and approximately when is the next known catalyst?
Our lead product ARX-01 for post surgical pain is in Phase 3 development. We are/have run 3 Phase three studies. In November 2012 we announced the results from the 1st phase 3, and the other two will have data later this quarter, Q1 2013. A highlight of these are:
4) What is ACRX's quarterly cash burn?
If you do a straight line calculation, it is approx $8M per quarter ($67M/8 quarters )
5) Does ACRX have an existing line of credit and if so how much can they draw against it?
We do not have a line of credit that we can utilize/draw at this time.
1) When is the last time ACRX raised cash through an offering (diluted)?
The last time we raised money was a month ago, in early December. It was a public offering, where we raised a total of $47 million.
2) How much cash (not cash equivalents) does ACRX have?
We ended Q3 2012 with $23 million. We raised $47 million, $44 net after expenses. This cash gets us out to the mid-part of Q3 2014.
3) What and approximately when is the next known catalyst?
Our lead product ARX-01 for post surgical pain is in Phase 3 development. We are/have run 3 Phase three studies. In November 2012 we announced the results from the 1st phase 3, and the other two will have data later this quarter, Q1 2013. A highlight of these are:
- In Nov '12 we announced positive Phase 3 results from a head-to-head comparison of ARX-01 vs IV PCA with morphine.
- In a placebo controlled Phase 3 in pain following open abdominal surgery, 180 subjects, will provide data in Q1 2013
- In a placebo controlled Phase 3 in pain following either hip or knee replacement surgeries, 400 subjects, will provide data in late Q1 2013
- With positive data from these two latter Phase 3s we intend to submit an NDA to the FDA in Q3 2013
- Should have Phase 2 data from ARX-04 in 1st half of 2013, a product for the department of defense that they are paying us to develop.
4) What is ACRX's quarterly cash burn?
If you do a straight line calculation, it is approx $8M per quarter ($67M/8 quarters )
5) Does ACRX have an existing line of credit and if so how much can they draw against it?
We do not have a line of credit that we can utilize/draw at this time.