AcelRx announced the news late Friday that the FDA did not grant approval to the device. The FDA has some concerns about Zalviso and has asked for more data to "support the shelf life of the product," according to the agency's Complete Response Letter.
For more on this story, read TheStreet's Adam Feuerstein's article here.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.