AcelRx Pharma plummets on longer approval timeline for Zalviso

• Micro cap AcelRx Pharmaceuticals (NASDAQ:ACRX) drops 29% premarket on light volume in response to its announcement after yesterday's close that the FDA rejected its request for a Type B meeting and reiterated its view that another clinical trial is necessary to evaluate the safety of the Zalviso dispenser. The timeline for regulatory clearance remains unclear as management assesses its options.
• Previously: FDA rejects AcelRx's request for meeting; new Zalviso clinical trial required (May 4)