AcelRx Pharmaceuticals, (ACRX, NASDEX) is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of acute and breakthrough pain. We were founded to solve the problems of post-operative intravenous patient-controlled analgesia (IV PCA). Our lead product, Zalviso™ (sufentanil sublingual microtablet system), is designed to address IV PCA problems which can cause harm to patients following surgery such as the invasive IV route of delivery and the inherent potential for programming and delivery errors associated with the complexity of infusion pumps. AcelRx has announced positive results from each of the three Phase 3 clinical trials for Zalviso and has submitted an NDA to the FDA seeking its approval. Grünenthal, our European partner for Zalviso received a positive opinion recommending approval for Zalviso in Europe. We have three additional product candidates in clinical development: ARX-02 for the treatment of cancer breakthrough pain; ARX-03 for providing mild sedation, anxiety reduction and pain relief for patients undergoing painful procedures in a physician’s office; and ARX-04, a non-invasive, fast-onset sublingual product for the treatment of moderate-to-severe acute pain currently in Phase 3 development.