AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) is having a great start to the trading session this morning, and for good reason. The company announced European approval of one of its treatments. Of course, the news proved to excite investors, sending the stock screaming for the top. Today, we’ll talk about:
- The approval;
- what we’re seeing from ACRX as a result; and
- what we’ll be watching for ahead.
ACRX Climbs On European Approval
As mentioned above, AcelRx Pharmaceuticals is having an incredibly strong start ot the trading session this morning after the company announced that it has received regulatory approval in Europe. In a press release issued early this morning, the company announced that the European Commission (EC) has approved DZUVEO, a treatment that is under development in the United States with the name DSUVIA. In the release, ACRX said that the approval was for the indication of acute moderate to severe pain in adults in medically monitored settings. In a statement, Vince Angotti, CEO at ACRX, had the following to offer:
The EC approval is an important milestone for AcelRx, and an exciting new opportunity for healthcare providers for managing acute moderate to severe pain in medically monitored settings. The current standard of care in these settings is primarily intravenous opioids… DZUVEO is a novel, non-invasive, sublingual tablet that we expect will challenge the current standard of care and provide a new option to healthcare practitioners that does not require the time, expense and effort to start an intravenous line.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of AcelRx, the news proved to be overwhelmingly positive. After all, regulatory approval in Europe means that the company now has the ability to market DZUVEO in Europe, creating revenue-generating opportunities. So, it’s no surprise that excited investors are sending the stock on a run for the top. Currnetly (7:57), ACRX is trading at $4.20 per share after a gain of $0.35 per share or 9.09% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ACRX. In particular, we’re interested in following the news surrounding DZUVEO as the company works to generate revenue from the treatment in Europe. Nonetheless, we’ll continue to follow the story closely and bring th enews to you as it breaks!
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