AcelRx prices initial public offering at $5.00 per share

AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of acute and breakthrough pain, today announced the pricing of its initial public offering of 8 million shares of common stock at $5.00 per share. All of the common stock will be sold by AcelRx.  In addition, AcelRx has granted to the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock from AcelRx to cover over-allotments, if any. The shares are expected to begin trading on the Nasdaq Global Market under the ticker symbol "ACRX" on February 11, 2011.

Piper Jaffray & Co. is acting as sole book-running manager and Cowen and Company, LLC, Canaccord Genuity Inc., and JMP Securities LLC are acting as co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on February 10, 2011. The offering is being made by means of a prospectus forming part of the effective registration statement, copies of which may be obtained, when available, by contacting Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, or by calling 1-800-747-3924.

SOURCE AcelRx Pharmaceuticals, Inc.