AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) announced an upcoming presentation at the 15th Annual Pain Medicine Meeting of the American Society of Regional Anesthesia and Pain Medicine(ASRA). The presentation is part of the Emerging Technology Moderated Poster session and will mark the first presentation of complete results from the Phase 3 SAP303 study of ARX-04 (sufentanil sublingual tablet, 30 mcg). The study enrolled 140 patients aged ≥40 years who had undergone short-stay in-patient or out-patient surgery. ASRA’s Annual Pain Medicine Meeting will take place November 17-19, 2016 in San Diego, CA.
As was first reported in September, treatment with ARX-04 in SAP303 was associated with a 49% reduction in mean pain intensity from baseline (from 6.19 to 3.17 on a 0-10 numeric rating scale) during the first 2 hours, and maintenance of that reduction for the duration of the 12-hour study period. Pain relief was reported as early as 15 minutes after the start of ARX-04 dosing, with the majority of patients experiencing an overall decline in pain levels from “high moderate” at baseline to “mild” by hour two. The most frequently reported adverse events in the study population were nausea (27%) and headache (6%). Baseline hepatic and/or renal impairment was present in 29% of patients, but no differences in adverse events were recorded between patients with normal and impaired liver or renal function.
Clinical and Rehabilitative Medicine Research Program (CRMRP)
ARX-04 is funded in part by the Clinical and Rehabilitative Medicine Research Program (CRMRP) of the U.S. Army Medical Research and Materiel Command (USAMRMC) under contract No. W81XWH-15-C-0046. The CRMRP was established in 2008 to foster research and technology advances for regeneration, restoration, and rehabilitation of traumatic injuries.
In accordance with USAMRMC guidelines, in the conduct of clinical research, AcelRx has adhered to the policies regarding the protection of human subjects as prescribed by Code of Federal Regulations (CFR) Title 45, Volume 1, Part 46; Title 32, Chapter 1, Part 219; and Title 21, Chapter 1, Part 50 (Protection of Human Subjects). (Original Source)
Shares of AcelRx Pharmaceuticals are currently trading flat at $3.10. ACRX has a 1-year high of $5.88 and a 1-year low of $2.40. The stock’s 50-day moving average is $3.61 and its 200-day moving average is $3.28.
On the ratings front, ACRX stock has been the subject of a number of recent research reports. In a report issued on November 2, H.C. Wainwright analyst Ed Arce reiterated a Buy rating on ACRX. Separately, on the same day, Roth Capital’s Michael Higgins reiterated a Buy rating on the stock and has a price target of $15.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ed Arce and Michael Higgins have a yearly average return of 17.5% and a loss of 10.7% respectively. Arce has a success rate of 35% and is ranked #224 out of 4226 analysts, while Higgins has a success rate of 33% and is ranked #3976.
Sentiment on the street is mostly bullish on ACRX stock. Out of 4 analysts who cover the stock, 3 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $7.00, which implies an upside of 126% from current levels.
AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company that focuses on the development and commercialization of therapies for the treatment of actual pain. Its lead product candidate includes ZalvisoTM intended for the management of moderate-to-severe acute pain in hospitalized adult patients. Zalviso consists of sufentanil sublingual tablets delivered by the Zalviso System, a needle-free, handheld, patient-administered, pain management system. It is designed to address the problems associated with post-operative intravenous patient-controlled analgesia, or IV PCA.