AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) has been all over the place this morning. Early in the pre-market, the stock was trading deep in the red. Right now, it’s slightly in the green. But with no press releases or SEC filings, many are wondering what’s going on. Today, we’ll talk about:
- Why ACRX is trading irradically;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why ACRX Is All Over The Place
As mentioned above, AcelRx is having an interesting start to the trading session this morning, trading deep in the red before running to the green and starting to dip back down. So, what’s the deal? well, it all has to do with sufantenil, a treatment that was previously rejected by the FDA.
Soon, the FDA will meet with the advisory committee surrounding the resubmission of the sufantenil new drug application. The briefing materials for this meeting were released. Of course, in the briefing materials, the FDA included the negative views associated with the previous submission. As you could imagine, the previous issues that ACRX needed to address will be addressed in the meeting.
While these issues were addressed prior to resubmission, it seems as though the FDA bringing them up in the AdComm briefing documents led to fears early on. However, as investors noticed that the concerns were the same concerns that were associated with the first NDA submission, ACRX started to make its way back toward the top.
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 leads to moves. In the case of AcelRx, the news is positive in my view. However, with a refresh of the concerns that led the first rejection of the treatment, the stock is all over the place. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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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 story surrounding the company’s continued work to bring sufantenil to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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