Tuesday, May 31, 2011

AcelRx grabs $5.6M Army grant

AcelRx Pharmaceuticals Inc. has been awarded a $5.6 million grant by the U.S. Army Medical Research and Material Command for development of a new pain treatment.
The grant will reimburse Redwood City-based AcelRx (NASDAQ: ACRX) for manufacturing and clinical costs needed for the planned Phase 2 trial of the new drug, ARX-04, and preparation for Phase 3 development.

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