AcelRx had planned to raise $86m in its initial public offering (IPO) but is now offering eight million shares at $5 each, with a further 1.2 million available if there is enough demand, according to its regulatory filing.
AcelRx Pharmaceuticals, a US-based developer of pain therapies formerly known as SuRx Pharmaceuticals, has halved its flotation on the Nasdaq stock exchange.
AcelRx had planned to raise $86m in its initial public offering (IPO) but is now offering eight million shares at $5 each, with a further 1.2 million available if there is enough demand, according to its regulatory filing. Existing shareholders have committed to buy 4.8 million of the available shares.
AcelRx has raised venture capital (VC) backing…
