In the last trading session, the stock price of Acura Pharmaceuticals Inc (OTCQB:ACUR) declined more than 10% to close the day at $0.36. The decline came at a share volume of 23,739 compared to average share volume of 15,734. Post the recent decline, the market cap of firm was noted at $8.4 million.
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Acura Pharmaceuticals reported financial report for the quarter and nine months closed September 30, 2017. The firm posted a net loss of $2.2 million for quarter closed September 30, 2017 versus a net loss of $2.3 million for the comparable period in 2016. For the first three quarters closed September 30, 2017, the firm posted net loss of $3.9 million versus net loss of $8.9 million for the comparable period in 2016.
For the first three quarters closed September 30, 2017, the firm posted license fee revenue of $2.5 million arising from the NEXAFED® and NEXAFED® SINUS licensing deal with MainPointe Pharmaceuticals LLC. R&D expenses linked with product candidates using Acura’s LIMITx™, IMPEDE® and AVERSION® Technologies came at $1.1 million in Q3 2017 versus $0.8 million in the comparable period in 2016. These expenses stood at $2.8 million for the first three quarters closed 2017 versus $3.3 million for the comparable period in 2016.
Marketing, selling, general and administrative expenses came at $1.1 million in Q3 2017 versus $1.3 million in the comparable period in 2016. For the nine months closed 2017, these expenses came at $3.4 million versus $5.4 million in the comparable period in 2016.
The drop in these expenses were mainly related with decline in NEXAFED product line marketing and selling expenses and in patent litigation expenses. At November 10, 2017, the firm reported cash and cash equivalents of $3.5 million and term debt financing of $3.2 million. Acura is a specialty pharmaceutical firm engaged in the R&D of products and technologies planned to address medication misuse and abuse, using its proprietary AVERSION®, IMPEDE® and LIMITx™ Technologies.