AcelRx Pharmaceuticals reports 3Q loss

REDWOOD CITY, Calif. (AP) _ AcelRx Pharmaceuticals Inc. (ACRX) on Thursday reported a loss of $13 million in its third quarter.

The Redwood City, California-based company said it had a loss of 28 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.

The drugmaker posted revenue of $1.5 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $2.5 million.

In the final minutes of trading on Thursday, the company's shares hit $1.95. A year ago, they were trading at $3.05.


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