Ratios

		vs industry	vs history
P/B	7.31	ACRX's P/B is ranked lower than 83% of the 375 Companies in the Global Drug Manufacturers - Major industry. ( Industry Median: 3.00 vs. ACRX: 7.31 )	ACRX' s 10-Year P/B Range Min: 2.61   Max: 9.19 Current: 7.31 2.61 9.19
P/S	51.38	ACRX's P/S is ranked lower than 95% of the 375 Companies in the Global Drug Manufacturers - Major industry. ( Industry Median: 2.32 vs. ACRX: 51.38 )	ACRX' s 10-Year P/S Range Min: 31.27   Max: 60.86 Current: 51.38 31.27 60.86
EV-to-EBIT	-6.93	ACRX's EV-to-EBIT is ranked higher than 98% of the 375 Companies in the Global Drug Manufacturers - Major industry. ( Industry Median: 21.70 vs. ACRX: -6.93 )	ACRX' s 10-Year EV-to-EBIT Range Min: 4.2   Max: 9.4 Current: -6.93 4.2 9.4

Valuation & Return

		vs industry	vs history
Price/Net Cash	8.7	ACRX's Price/Net Cash is ranked lower than 54% of the 375 Companies in the Global Drug Manufacturers - Major industry. ( Industry Median: 9.70 vs. ACRX: 8.7 )	ACRX' s 10-Year Price/Net Cash Range Min: 2.7   Max: 3.3 Current: 8.7 2.7 3.3
Price/Net Current Asset Value	186.5	ACRX's Price/Net Current Asset Value is ranked lower than 61% of the 375 Companies in the Global Drug Manufacturers - Major industry. ( Industry Median: 10.20 vs. ACRX: 186.5 )	ACRX' s 10-Year Price/Net Current Asset Value Range Min: 48   Max: 71 Current: 186.5 48 71
Price/Tangible Book	7.4	ACRX's Price/Tangible Book is ranked lower than 61% of the 375 Companies in the Global Drug Manufacturers - Major industry. ( Industry Median: 3.40 vs. ACRX: 7.4 )	ACRX' s 10-Year Price/Tangible Book Range Min: 1.9   Max: 2.8 Current: 7.4 1.9 2.8
Price/Median PS Value	2.4	ACRX's Price/Median PS Value is ranked lower than 57% of the 375 Companies in the Global Drug Manufacturers - Major industry. ( Industry Median: 0.70 vs. ACRX: 2.4 )	ACRX' s 10-Year Price/Median PS Value Range Min: 0.9   Max: 0.9 Current: 2.4

Business Description

AcelRx Pharmaceuticals, Inc. was originally incorporated as SuRx, Inc. in Delaware on July 13, 2005. The company subsequently changed its name to AcelRx Pharmaceuticals, Inc. on August 13, 2006. The company is a development stage specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of acute and breakthrough pain. The company was founded to solve the problems associated with post-operative intravenous patient-controlled analgesia, or IV PCA. Although used, IV PCA has been shown to cause harm to patients following surgery because of the side effects of morphine, the invasive IV route of delivery and the inherent potential for programming and delivery errors associated with the complexity of infusion pumps. In March 2012, it initiated the first of three Phase 3 clinical trials for its lead product candidate, the Sufentanil NanoTab PCA System, or ARX-01 System, or ARX-01. The remaining two Phase 3 studies are expected to start by the third quarter of 2012. The three planned Phase 3 clinical trials include two double-blind, placebo-controlled efficacy and safety trials and one active comparator study. It has completed Phase 2 clinical development for two additional product candidates, the Sufentanil NanoTab BTP Management System, or ARX-02, for the treatment of cancer breakthrough pain, or BTP, and the Sufentanil/Triazolam NanoTab, or ARX-03, designed to provide mild sedation, anxiety reduction and pain relief for patients undergoing painful procedures in a physician's office. In addition, in May 2011, the company announced that the US Army Medical Research and Material Command, or USAMRMC, awarded it a $5.6 million grant to support the development of a new product candidate, the Sufentanil Single-Dose NanoTab for the treatment of moderate-to-severe acute pain, or ARX-04. Under the terms of the grant, the USAMRMC will reimburse it for development, manufacturing and clinical expenses necessary to prepare for and complete the planned Phase 2 dose-finding trial in a study of moderate-to-severe acute pain, and to prepare to enter Phase 3 development. Its strategy is to develop and commercialize a portfolio of sufentanil NanoTab-based products in specialty markets. The company has designed and is developing product candidates that have clearly defined clinical development programs, target commercial market opportunities and require modest commercial organizations in the United States. It competitors include pharmaceutical and biotechnology companies, specialty pharmaceutical and generic drug companies, and medical technology companies.
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Industry:	Drug Manufacturers - Major
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Traded in other countries:	R5X.Germany

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