Shots:

• AcelRx acquires Tetraphase in an all-stock transaction- at an exchange ratio of 0.6303 shares of AcelRx for each share of Tetraphase- or ~$14.4M as of Mar 13- 2020 and a CVR that provides up to ~ $12.5M to Tetraphase stockholders upon the achievement of net sales of Xerava of $20M- $35M and $55M within the applicable timeframes by year-end 2021
• Tetraphase to receive 14.6% of AcelRx fully diluted shares outstanding in the transaction with Tetraphase continuing as the indirect wholly-owned subsidiary of AcelRx. The transaction is expected to be closed in Q2’20
• The companies have also signed a co-promotion agreement to commercialize Xerava for the cIAI and Dsuvia for the management of acute pain in medically supervised settings to generate significant commercial synergies

Click here ­to­ read full press release/ article | Ref: PRNewswire | Image: TetraPhase