AcelRx Pharmaceuticals Appoints Timothy E. Morris as Chief Financial Officer
REDWOOD CITY, Calif., March 25, 2014
REDWOOD CITY, Calif., March 25, 2014 /PRNewswire/ --AcelRx Pharmaceuticals,
Inc. (Nasdaq: ACRX), a specialty pharmaceutical company focused on the
development and commercialization of innovative therapies for the treatment of
acute and breakthrough pain, today announced the appointment of Timothy E.
Morris as chief financial officer (CFO). Mr. Morris brings 30 years of
professional finance and accounting experience to AcelRx, 18 of those years
spent in the role of chief financial officer, most recently operating in this
capacity at VIVUS, Inc., a commercial-stage biopharmaceutical company. Mr.
Morris will be responsible for managing the company's finance operations, its
information systems and human resource and investor relations functions. Jim
Welch, who had served as CFO since October 2010, departed the company to
pursue other business opportunities.
"Tim's recent knowledge in transitioning a development-stage company to
commercial capability in terms of finance, accounting, information systems and
personnel, coupled with his experience in structuring and valuing
transactions, strategic planning and executive management, make him an
invaluable addition to our company," said Richard King, president and chief
executive officer of AcelRx Pharmaceuticals. "The Board of Directors joins me
in welcoming Tim to his new position and looks forward to drawing upon his
talent and proven experience to support AcelRx growth. We also extend our
thanks to Jim for his years of service to the company."
"AcelRx represents a tremendous opportunity and I am honored to join the
company at this important time as it transitions to the commercial stage,"
commented Timothy E Morris. "AcelRx has made excellent progress to date, with
the upcoming Zalviso PDUFA date and its collaboration with the Grunenthal
Group on European market outreach. I believe the company is well positioned
for success in 2014 and beyond."
Mr. Morris served as a chief financial officer, senior vice president finance
and global corporate development of VIVUS, Inc. from November 2004 to December
2013, overseeing finance, corporate development, IT, human resources, legal,
and investor relations functions. Prior to VIVUS, Mr. Morris was CFO, senior
vice president finance, manufacturing and administration from September 2001
to November 2004, and was a member of the Office of the President from August
2004 to November 2004 for Questcor Pharmaceuticals, Inc., a specialty
pharmaceutical company focused on the development, acquisition and marketing
of pharmaceutical products. Mr. Morris graduated cum laude with a BS in
Business with emphasis in Accounting from California State University, Chico,
and is a Certified Public Accountant.
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. AcelRx's lead product candidate,
Zalviso™, is designed to solve the problems associated with post-operative
intravenous patient-controlled analgesia which 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 complexity of infusion pumps. AcelRx has
announced positive results from each of the three completed Phase 3 clinical
trials for Zalviso, and has submitted an NDA to the FDA seeking approval for
Zalviso in the treatment of moderate-to-severe acute pain in adult patients in
the hospital setting.AcelRx plans to initiate a Phase 3 clinical trial for
ARX-04, a product candidate for the treatment of moderate-to-severe acute pain
in a medically supervised setting, during the second half of 2014.The company
has two additional pain treatment product candidates, ARX-02 and ARX-03, which
have completed Phase 2 clinical development.For additional information about
AcelRx's clinical programs, please visit www.acelrx.com.
Forward Looking Statements
This press release contains forward-looking statements, including, but not
limited to, statements related to the process and timing of anticipated
future development of AcelRx's product candidates, including the timing of
potential approval for Zalviso, therapeutic and commercial potential of
Zalviso and the anticipated timing, therapeutic and commercial potential of
other AcelRx product candidates, including the timing of the Phase 3 trial for
ARX-04. These forward-looking statements are based on AcelRx's current
expectations and inherently involve significant risks and uncertainties.
AcelRx's actual results and the timing of events could differ materially from
those anticipated in such forward-looking statements as a result of these
risks and uncertainties, which include, without limitation, risks related to:
AcelRx's ability to receive regulatory approval for Zalviso, that fact that
FDA may dispute or interpret differently clinical results obtained to date;
any delays or inability to obtain and maintain regulatory approval of its
product candidates, including Zalviso, in the United States and Europe; its
ability to attract funding partners or collaborators with development,
regulatory and commercialization expertise; its ability to receive any
milestones or royalty payments under the Gruenthal agreement; its ability to
obtain sufficient financing to commercialize Zalviso and proceed with clinical
development of ARX-04; the success, cost and timing of all product development
activities and clinical trials, including the planned Phase 3 ARX-04 trial;
the uncertain clinical development process, including the risk that clinical
trials, have an effective design, enroll a sufficient number of patients, or
be completed on schedule, if at all; the market potential for its product
candidates; and other risks detailed in the "Risk Factors" and elsewhere in
AcelRx's U.S. Securities and Exchange Commission filings and reports,
including its Annual Report on Form 10-K filed with the SEC on March 17,
2014. AcelRx undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new information, future
events or changes in its expectations.
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SOURCE AcelRx Pharmaceuticals, Inc.
Contact: Richard King, Chief Executive Officer, +1-650-216-3501,
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