Acura Pharmaceuticals Inc. (ACUR, Financial) filed Annual Report for the period ended 2010-12-31.
Acura Pharmaceuticals Inc. has a market cap of $144.4 million; its shares were traded at around $3.29 with and P/S ratio of 37.7.
We have established and intend to pursue future strategic alliances and licensing agreements with pharmaceutical companies to augment and enhance our ability to develop and commercialize our product candidates. We also intend to pursue the in-license or acquisition of product candidates and technologies to expand our portfolio of abuse deterrent technologies and product candidates. In October 2007, we entered into a License, Development and Commercialization Agreement with King to develop and commercialize certain opioid analgesic products utilizing our proprietary Aversion® Technology, including Acurox® Tablets. The King Agreement initially provided King with an exclusive license in the United States, Canada and Mexico (the “King Territory”) to Acurox® Tablets (with and without niacin) and Acuracet® (oxycodone HCl/acetaminophen) Tablets (with and without niacin), and an option to license future opioid analgesic product candidates utilizing our Aversion® Technology (with and without niacin) in the King Territory. In May and December 2008, King exercised its option and licensed an undisclosed opioid analgesic tablet product and Vycavert® with Niacin (hydrocodone bitartrate/niacin/acetaminophen) Tablets, respectively. Under the terms of the King Agreement, King made an upfront cash payment to us of $30 million. As of February 28, 2011, we had received an additional $28.4 million from King in the form of milestone payments, option fees and reimbursement for research and development expenses. In addition, we are eligible for future regulatory and sales milestone payments, reimbursement for certain research and development expenses and royalties on combined annual net sales of all products commercialized under the King Agreement. On January 31, 2011, Pfizer Inc. (“Pfizer”) announced completion of a tender offer acquisition of King Pharmaceuticals, Inc., resulting in King becoming a majority-owned subsidiary of Pfizer. Pfizer publicly announced it intends to complete a short-form merger with King on or about February 28, 2011, pursuant to which King will become a wholly-owned subsidiary of Pfizer.
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Acura Pharmaceuticals Inc. has a market cap of $144.4 million; its shares were traded at around $3.29 with and P/S ratio of 37.7.
Highlight of Business Operations:
Based on the last sale price on the NASDAQ Capital Market of the Common Stock on June 30, 2010 ($2.51) (the last business day of the registrant's most recently completed second fiscal quarter), the aggregate market value of the voting stock held by non-affiliates of the registrant was approximately $26.0 million.We have established and intend to pursue future strategic alliances and licensing agreements with pharmaceutical companies to augment and enhance our ability to develop and commercialize our product candidates. We also intend to pursue the in-license or acquisition of product candidates and technologies to expand our portfolio of abuse deterrent technologies and product candidates. In October 2007, we entered into a License, Development and Commercialization Agreement with King to develop and commercialize certain opioid analgesic products utilizing our proprietary Aversion® Technology, including Acurox® Tablets. The King Agreement initially provided King with an exclusive license in the United States, Canada and Mexico (the “King Territory”) to Acurox® Tablets (with and without niacin) and Acuracet® (oxycodone HCl/acetaminophen) Tablets (with and without niacin), and an option to license future opioid analgesic product candidates utilizing our Aversion® Technology (with and without niacin) in the King Territory. In May and December 2008, King exercised its option and licensed an undisclosed opioid analgesic tablet product and Vycavert® with Niacin (hydrocodone bitartrate/niacin/acetaminophen) Tablets, respectively. Under the terms of the King Agreement, King made an upfront cash payment to us of $30 million. As of February 28, 2011, we had received an additional $28.4 million from King in the form of milestone payments, option fees and reimbursement for research and development expenses. In addition, we are eligible for future regulatory and sales milestone payments, reimbursement for certain research and development expenses and royalties on combined annual net sales of all products commercialized under the King Agreement. On January 31, 2011, Pfizer Inc. (“Pfizer”) announced completion of a tender offer acquisition of King Pharmaceuticals, Inc., resulting in King becoming a majority-owned subsidiary of Pfizer. Pfizer publicly announced it intends to complete a short-form merger with King on or about February 28, 2011, pursuant to which King will become a wholly-owned subsidiary of Pfizer.
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