AcelRx Prices IPO

1/21/11Follow @wroush

Redwood City, CA-based AcelRx Pharmaceuticals, which filed paperwork last November for an initial public offering on the Nasdaq exchange, set its IPO terms in an updated regulatory filing yesterday. The company, which is developing oral pain-control medications as a replacement for patient-controlled intravenous pain treatments in hospitals, said it hopes to sell 5.77 million shares of common stock for $12 and $14 per share, bringing in up to $81 million in working capital. Alta Partners, Kaiser Permanente Ventures, Pinnacle Ventures, Skyline Ventures, and Three Arch Partners have put more than $66 million into the five-year-old company.

Wade Roush is a contributing editor at Xconomy. Follow @wroush

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