AcelRx Pharma (ACRX) Announces Proposed Common Share Offering

AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX) (AcelRx), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in healthcare institutions, today announced an underwritten public offering of its common stock. All shares to be sold in the offering will be sold by AcelRx, subject to customary closing conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.

The Company also has granted to the underwriter a 30-day option to purchase up to an additional 15 percent of the number of shares offered in the public offering.

AcelRx intends to use the net proceeds from this offering for working capital and general corporate purposes, including commercialization activities, general and administrative expenses, research and development expenses, capital expenditures, and for making scheduled payments under its debt facility.

The securities described above are being offered by AcelRx pursuant to a "shelf" registration statement on Form S-3 (File No. 333-239156) previously filed with the Securities and Exchange Commission (the "SEC") on June 12, 2020 and declared effective by the SEC on July 8, 2020.

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