AcelRx Pharma up more than 8% in early trading

AcelRx Pharmaceuticals (ACRX +8.9%) enjoys investor enthusiasm today after yesterday's earnings report after the close.

Consensus estimate for 2014 revenue is $3.6M, but the company expects to earn a $5M milestone fee in Q3 from Grunenthal GmbH when it submits its marketing application to European regulators for Zalviso by mid-year.

Quick assets on hand are sufficient to fund operations through 2015.

Mutual fund ownership has grown from 25 to 123 over the past four quarters.

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