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AcelRx Pharmaceuticals(ACRX) - 2024 Q3 - Quarterly Results
ACRXAcelRx Pharmaceuticals(ACRX)2024-11-13 21:10

Financial Performance - Net loss from continuing operations for Q3 2024 was 3.4million,comparedtoanetlossof3.4 million, compared to a net loss of 1.4 million in Q3 2023[7]. - Net loss attributable to common shareholders for Q3 2024 was 3.4million,or3.4 million, or 0.13 per share, compared to a net loss of 1.4million,or1.4 million, or 0.08 per share, in Q3 2023[8]. - Talphera's total operating costs and expenses for Q3 2024 were 3.7million,comparedto3.7 million, compared to 3.4 million in Q3 2023[6]. - Total operating expenses for the three months ended September 30, 2024, were 3,749,000,slightlyupfrom3,749,000, slightly up from 3,426,000 in the same period last year[21]. - The company reported a total of 12,256,000inoperatingexpensesfortheninemonthsendedSeptember30,2024,comparedto12,256,000 in operating expenses for the nine months ended September 30, 2024, compared to 12,976,000 for the same period in 2023[21]. Research and Development - Combined R&D and SG&A expenses for Q3 2024 were 3.7million,upfrom3.7 million, up from 3.4 million in Q3 2023, primarily due to NEPHRO study costs[6]. - Research and development expenses for the three months ended September 30, 2024, were 2,053,000,upfrom2,053,000, up from 1,178,000 for the same period in 2023, representing a 74% increase[21]. - The NEPHRO CRRT study aims to enroll 166 patients across up to 14 clinical sites in the U.S.[4]. - The first patient was enrolled in the NEPHRO CRRT study in August 2024[3]. - The study's primary endpoint is the mean post-filter activated clotting time for circuits infused with nafamostat compared to placebo over the first 24 hours[4]. - Talphera anticipates completing the NEPHRO study by the end of 2025 with improved enrollment rates[2]. Financial Position - Cash and investments totaled 11.1millionasofSeptember30,2024[5].−Cash,cashequivalents,andinvestmentsincreasedto11.1 million as of September 30, 2024[5]. - Cash, cash equivalents, and investments increased to 11,117,000 as of September 30, 2024, up from 9,381,000atDecember31,2023[20].−Totalassetsroseto9,381,000 at December 31, 2023[20]. - Total assets rose to 21,014,000, compared to 20,395,000attheendof2023[20].−Totalliabilitiesincreasedsignificantlyto20,395,000 at the end of 2023[20]. - Total liabilities increased significantly to 11,373,000 from 6,290,000[20].−Totalstockholders′equitydecreasedto6,290,000[20]. - Total stockholders' equity decreased to 9,641,000, down from 14,105,000[20].OperatingExpenses−Selling,general,andadministrativeexpensesdecreasedto14,105,000[20]. Operating Expenses - Selling, general, and administrative expenses decreased to 1,696,000 for the three months ended September 30, 2024, from 2,248,000intheprioryear[21].−Non−GAAPoperatingexpensesforthethreemonthsendedSeptember30,2024,were2,248,000 in the prior year[21]. - Non-GAAP operating expenses for the three months ended September 30, 2024, were 3,515,000, compared to 3,048,000intheprioryear[21].−Stock−basedcompensationexpenseforthethreemonthsendedSeptember30,2024,was3,048,000 in the prior year[21]. - Stock-based compensation expense for the three months ended September 30, 2024, was 234,000, down from $378,000 in the same period last year[21]. Regulatory Status - The company has received Breakthrough Device Designation status from the FDA for its lead product candidate, Niyad™[11].