AcelRx Pharmaceuticals(ACRX) - 2024 Q1 - Quarterly Results

Financial Position - Cash and investments totaled $18.6 million as of March 31, 2024[1] - Total assets as of March 31, 2024, were$28.8 million, with total liabilities of $12.4 million[19] - The company announced a total of$26 million in committed capital, including $8 million from DSUVIA royalties and$18 million in equity from existing investors[4] Expenses and Losses - Combined R&D and SG&A expenses for Q1 2024 were $4.2 million, down from$5.3 million in Q1 2023, primarily due to reduced headcount[6] - Net loss from continuing operations for Q1 2024 was $4.0 million, or$0.16 per share, compared to a net income of $0.1 million in Q1 2023[7] Product Development - Talphera's lead product candidate, Niyad, is currently under investigation as an anticoagulant and has received Breakthrough Device Designation from the FDA[9] - Talphera expects to enroll the first patients in the NEPHRO CRRT registrational study in Q2 2024, with the trial's primary endpoint measured at 24 hours[2] - The NEPHRO study will enroll 166 adult patients and evaluate the efficacy of Niyad compared to placebo[11] Leadership Changes - Dr. Shakil Aslam will join Talphera as Chief Development Officer on May 20, 2024, bringing over 20 years of nephrology expertise[5] Company Rebranding - The company underwent a rebranding from AcelRx Pharmaceuticals, Inc. to Talphera, Inc. in January 2024[3]