AcelRx Pharmaceuticals Announces Proposed Public Offering Of Common Stock

  AcelRx Pharmaceuticals Announces Proposed Public Offering Of Common Stock

PR Newswire

REDWOOD CITY, Calif., July 17, 2013

REDWOOD CITY, Calif., July 17, 2013 /PRNewswire/ --AcelRx Pharmaceuticals,
Inc. (Nasdaq: ACRX) today announced that it intends to offer and sell shares
of its common stock in an underwritten public offering. The Company expects to
grant the underwriters a 30-day option to purchase up to an additional 15% of
the shares of common stock offered in the public offering. The offering is
subject to market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual size or
terms of the offering. All of the shares to be sold in the proposed offering
are to be sold by AcelRx.

Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running
managers for the offering, and Guggenheim Securities is acting as co-manager
for the offering.

A shelf registration statement on Form S-3 relating to the public offering of
the shares of common stock described above was filed with the Securities and
Exchange Commission (the "SEC") and is effective. A preliminary prospectus
supplement related to the offering will be filed with the SEC and will be
available on the SEC's website located at http://www.sec.gov. Copies of the
preliminary prospectus supplement and the accompanying prospectus relating to
the proposed offering may be obtained from Jefferies LLC, Equity Syndicate
Prospectus Department, at 520 Madison Avenue, New York, New York, 10022, or by
calling (877) 547-6340, or by emailing Prospectus_Department@Jefferies.com, or
from Piper Jaffray & Co., Attention: Equity Capital Market, 800 Nicollet Mall,
J12S03, Minneapolis, MN 55402 or by calling (800)747-3924, or by emailing
prospectus@pjc.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.

About AcelRx Pharmaceuticals, Inc.
AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on
the development and commercialization of innovative therapies for the
treatment of acute and breakthrough pain. 

Forward-Looking Information is Subject to Risk and Uncertainty

Certain of the statements made in this press release are forward looking, such
as those, among others, relating to AcelRx's expectations regarding the
completion of the proposed public offering. Actual results or developments may
differ materially from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include, without
limitation, risks and uncertainties related to whether or not AcelRx will be
able to raise capital through the sale of shares of common stock, the final
terms of the proposed offering, market and other conditions, the satisfaction
of customary closing conditions related to the proposed public offering and
the impact of general economic, industry or political conditions in the United
States or internationally. There can be no assurance that AcelRx will be able
to complete the proposed public offering on the anticipated terms, or at all.
AcelRx will need to raise additional capital to fund its operations and may be
unable to raise capital when needed, which would force AcelRx to delay, reduce
or eliminate its product development programs or commercialization efforts.
You should not place undue reliance on these forward-looking statements, which
apply only as of the date of this press release. Additional risks and
uncertainties relating to AcelRx and its business can be found under the
heading "Risk Factors" in AcelRx's Quarterly Report on Form 10-Q for the
quarter ended March 31, 2013, filed with the SEC on May 8, 2013, and in the
preliminary prospectus supplement related to the proposed offering to be filed
with the SEC on or about the date hereof. AcelRx expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in its
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based.

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SOURCE AcelRx Pharmaceuticals, Inc.

Website: http://www.acelrx.com
Contact: Jim Welch, Chief Financial Officer, 650.216.3511, jwelch@acelrx.com