NEW YORK (TheStreet) -- Shares of AcelRx Pharmaceuticals (ACRX) - Get Report spiked 11.77% to $6.74 in late morning trading Tuesday after the company reported third-quarter results after the market close Monday that beat analysts' expectations.
The company posted a loss of 13 cents per diluted share, narrower than the loss of 26 cents per diluted share in the same quarter one year earlier. Analysts had expected a loss of 22 cents per diluted share.
AcelRx also announced that it still plans to resubmit its New Drug Application for its experimental pain management treatment device Zalviso for FDA approval in the first quarter of 2015. The company cautioned that FDA feedback could push the NDA filing to a later date.
AcelRx first indicated the delay in the NDA filing in late September. The company had said in July it planned to submit the application by the end of 2014.