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Stock Watch: Acura Pharmaceuticals $ACUR
Up 50% After Closing Deal $ACUR
Acura Pharmaceuticals has not been a company with profitable revenue for the past few quarters. The company reported a loss of $3 million in Q4 2012 which was higher than Q4 2011′s loss of $1.6 million. This small cap biotech company with a market cap of $143 million may be changing tides for the next quarter.
Acura has recently approved one of their drugs Nexafed, for sale in Kerr Drug stores, approximately 75 locations in North Carolina. Nexafed is a decongestant that eliminates the danger of consumers successfully extracting the pseudoephedrine present in the drug; the drug ‘gels up’ when attempts are made. Acura also released statements that they are entering distribution agreements with other regional and national drug wholesalers. This could mean the drug could be sold nationwide, putting gains into the company.
This news carried the stock up 50%. Take a look at Acura Pharmaceutical’s current standing here