Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) concerning whether a series of statements by AcelRx Pharmaceuticals Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On March 9, 2015, AcelRx announced that in the previous week the Company received correspondence from the Food and Drug Administration stating that in addition to the bench testing and two Human Factors studies it has performed for its pain drug device, Zalviso , an additional clinical study is needed to assess the risk of inadvertent dispensing and overall risk of dispensing failures. Following the release of this news, shares of AcelRx dropped $2.93 per share, to $5.81, or more than 33.42%, on March 9, 2015.
On May 4, 2015, Reuters news reported that AcelRx said a division of the FDA had rejected the company's request for a meeting to discuss the need for an additional trial.
Following this additional news, shares of AcelRx dropped $1.10 per share to $3.10, or more than 26.19%, in after-hours trading on May 4, 2015.
Based in Redwood City, CA and founded in 2005, AcelRx Pharmaceuticals Inc is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of acute and breakthrough pain. Their lead product candidate is Zalviso, an investigational, pre-programmed, non-invasive, handheld system for the treatment of moderate-to-severe acute pain in the hospital setting.
If you purchased shares of AcelRx Pharmaceuticals Inc (NASDAQ: ACRX)on or before May 4, 2015, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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