AcelRx Pharma Raises IPO Limit

AcelRx Pharmaceuticals is planning to raise a total of about $40 million in an initial public offering.

AcelRx Pharmaceuticals is planning to raise a total of about $40 million in an initial public offering (IPO), The Wall Street Journal reports. The California-based pharmaceutical company has revised the terms of its IPO and is now selling more shares at a lower price. AcelRx will now sell a total of 8 million of shares at $5 per share. The company first filed for its IPO in November and had planned to sell 5.77 million shares for $12 to $14 per share.

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