For additional information about AcelRx, please visitwww.acelrx.com.
Non-GAAP Financial Measures
To supplement AcelRx’s financial results and guidance presented in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certainnon-GAAP financial measures in this press release, in particular, excluding stock-based compensation expense from its operating expenses. The Company believes that thesenon-GAAP financial measures provide useful supplementary information to, and facilitate additional analysis by, investors and analysts. In particular, the Company believes that thesenon-GAAP financial measures, when considered together with the Company’s financial information prepared in accordance with GAAP, can enhance investors’ and analysts’ ability to meaningfully compare the Company’s results from period to period and to its forward-looking guidance. In addition, these types ofnon-GAAP financial measures are regularly used by investors and analysts to model and track the Company’s financial performance. AcelRx’s management also regularly uses thesenon-GAAP financial measures internally to understand, manage and evaluate the Company’s business and to make operating decisions.Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with AcelRx’s consolidated financial statements prepared in accordance with GAAP. Thenon-GAAP financial measures in this press release have limits in their usefulness to investors and may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.
Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements related to anticipated procurement by the military, the expected closing and timing of the Tetraphase acquisition, revenues, operating expenses, cash, cash equivalents and short-term investments the Company expects to report for the three months ended and as of March 31, 2020, quarterly operating expense guidance for the remainder of 2020, and ongoing effects and anticipated impacts to the Company’s business as a result of theCOVID-19 pandemic. These and any other forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” or the negative of these words or other comparable terminology. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied by such statements, including the uncertainty surrounding the continuation ofshelter-in-place orders and related restrictions on access to our customers due toCOVID-19, the uncertainty of longer-term economic impacts fromCOVID-19, our ability to close and achieve the anticipated benefits from the Tetraphase acquisition, and uncertainty as to the timing and volume of orders expected from the U.S. military. In addition, such risks and uncertainties may include, but are not limited to, those described in AcelRx’s annual, quarterly and current reports (i.e., Form10-K, Form10-Q and Form8-K) as filed or furnished with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date such statements were first made. AcelRx’s SEC reports are available at www.acelrx.com under the “Investors” tab. Except to the extent required by law, AcelRx undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events.
Additional Information and Where to Find It
In connection with the proposed transaction between AcelRx and Tetraphase, AcelRx filed with the SEC a registration statement on FormS-4 (No.333-237584) (the “Registration Statement”) containing a document constituting a prospectus of AcelRx and a proxy statement of Tetraphase. The Registration Statement was declared effective by the SEC on April 24, 2020, and Tetraphase mailed the definitive
