Shares of the AcelRx Pharmaceuticals, Inc stock were rising in the current market session today on December 15, 2021. ACRX stock price saw an uptrend of 5.62% to reach $0.533 a share at the time of this writing. The trading volume on the last check was 1,855,405, far higher than the average trading volume. Let’s understand the reason behind this bull.
What’s Happening?
ACRX stock became bullish after it announced the publication of clinical data in the Journal of Orthopaedic Experience and Innovation. The data is related to the patients who are undergoing total hip or total knee replacement. The data reflected the reduction in the hospital length of stay and reduced opioid utilization with the use of sublingual sufentanil that helps in relieving acute pain compared to standard IV opioids.
The study team evaluated the comparison between patients who are exposed to single sufentanil sublingual tablet 30 mcg in the perioperative period and patients who received standard IV opioids. A total of 110 patients participated in the study. 53 patients got treatment with SST and 57 patients belonged to the historical comparator group. The average age of the patients in both groups was 65 years and 50% of them had the severe systemic disease. The utilization of morphine milligram was 30% less in the SST group throughout the stay. Hospital length of stay reduced 30% for the SST group.
New Appointment by ACRX:
On November 24, 2021, ACRX announced that it had appointed Jill Broadfoot to its board of directors. Ms. Broadfoot is an experienced professional in finance, operations, and business development. She is currently serving aTyr Pharma, Inc as the Chief Financial Officer.
Registered Direct Offering of ACRX stock:
AcelRx on November 15, 2021, did announce that it had signed an agreement with life sciences-focused investment funds. Under this agreement, 17,500,000 shares of ACRX stock were offered and warrants for an aggregate of 17,500,000 shares of common stock. The offering price was $0.80 per share for common ACRX stock and warrants together. The gross proceeds from the offering were $14.0 million, excluding the proceeds from warrants. The transaction closed on November 17, 2021.
Conclusion:
The recent news of ACRX stock has captivated the attention of the investors in the stock market. The per-share price performance is not so much satisfactory in 2021 as ACRX stock lost 59.60% year to date.
