AcelRx Misled Investors Ahead of FDA Warning Letter, Suit Says

AcelRx Pharmaceuticals Inc. allegedly failed to tell investors that its promotional materials for an acute pain treatment contained false or misleading claims, according to a would-be class suit filed in federal court in California.

The pharmaceutical firm didn’t disclose how it had “deficient disclosure controls and procedures with respect to its marketing” of DSUVIA, a drug intended to manage severe pain for adults, investors told the U.S. District Court for the Northern District of California.

The Food and Drug Administration in February sent AcelRx a warning letter over some of its promotional claims about DSUVIA’s risks and efficacy, the complaint ...