AcelRx Pharmaceuticals Announces The Departure Of David Chung
REDWOOD CITY, Calif., June 2, 2014
REDWOOD CITY, Calif., June 2, 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 that David Chung has resigned as
Chief Commercial Officer in order to assume the role of Chief Executive
Officer of a medical device company. Richard King, the Company's President
and Chief Executive Officer, will assume the duties and responsibilities of
the Chief Commercial Officer, and will lead the continued build-out of the
commercial organization and launch preparation for Zalviso until a suitable
replacement is found. The Company has begun a search for Mr. Chung's
"David has laid a solid foundation and began the build of a commercial team
that will continue the pre-commercial activities for Zalviso," commented
Richard King, president and chief executive officer."We anticipate no delay
in our commercial launch plans pending a positive PDUFA. We also wish David
success in his new endeavor."
"I am proud to have been associated with a company with such high caliber and
passionate employees that is striving to bring the benefits of Zalviso to
patients, and in beginning the establishment of the commercial group that will
support that effort," commented David Chung.
Mr. King has served as a director, president and chief executive officer for
AcelRx since May 2010. Prior to this time, Mr. King accumulated over 20 years
of commercial experience in the pharmaceutical and biotechnology industry both
in the UK and the US. Mr. King was the most senior dedicated commercial
executive at Tercica, Inc., Kos Pharmaceuticals, Inc., Solvay Pharmaceuticals
(US organization) and Unimed Pharmaceuticals, and while at these organizations
oversaw launches for several highly successful brands such as AndroGel^®
(first testosterone gel), Somatuline Depot^® (a somatostatin analog to
treat acromegaly) and Advicor^® (a combination of extended release niacin
 AndroGel^® is a registered trademark of AbbVie Inc.
 Somatuline Depot^® is a registered trademark of Ipsen Pharma S.A.S.
 Niaspan^® is a registered trademark of AbbVie Inc., and Mevacor^® is a
registered trademark of Merck & Co., Inc.
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 improve the management of moderate-to-severe acute
pain in adult patients in the hospital setting by utilizing a high therapeutic
index opioid, through a non-invasive delivery route via a pre-programmed,
patient-controlled analgesia device. 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.
This press release contains forward-looking statements, including, but not
limited to, statements related to the build out of the Company's commercial
organization, anticipated approval of the NDA by the FDA, planned initiation
of the Phase 3 clinical trial for ARX-04, and the therapeutic potential of
AcelRx Pharmaceuticals' product candidates, including Zalviso. These
forward-looking statements are based on AcelRx Pharmaceuticals' current
expectations and inherently involve significant risks and uncertainties.
AcelRx Pharmaceuticals' 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 build an effective commercial
organization, AcelRx Pharmaceuticals' ability to receive regulatory approval
for Zalviso; 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 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 market potential for its product
candidates; and other risks detailed in the "Risk Factors" and elsewhere in
AcelRx Pharmaceuticals' U.S. Securities and Exchange Commission filings and
reports, including its Quarterly Report on Form 10-Q filed with the SEC on May
8, 2014. AcelRx Pharmaceuticals 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.
Timothy E. Morris
Chief Financial Officer
The Trout Group LLC
SOURCE AcelRx Pharmaceuticals, Inc.
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