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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1427925	Acelrx Pharmaceuticals Inc	ACRX	Pharmaceutical Preparations (2834)	000000000

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1164426	Joseph Edelman	C/O Perceptive Advisors Llc 499 Park Avenue, 25Th Floor New York NY 10022	No	No	Yes	No
1224962	Perceptive Advisors Llc	499 Park Avenue, 25Th Floor New York NY 10022	No	No	Yes	No
1249675	Ltd Fund Master Sciences Life Perceptive	C/O Perceptive Advisors Llc 499 Park Avenue, 25Th Floor New York NY 10022	No	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2015-11-17	133,900	$5.36	6,038,060	No	4	S	Indirect	See Footnotes
Common Stock	Disposition	2015-11-18	42,300	$5.35	5,995,760	No	4	S	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes

Footnotes

This Form 4 is being filed by Perceptive Life Sciences Master Fund Ltd. (the "Master Fund"), Perceptive Advisors LLC (the "Advisor") and Joseph Edelman. The Advisor serves as the investment manager of Master Fund and to a managed account (the "Managed Account") for Titan Perc, Ltd. Mr. Edelman is the managing member of the Advisor.
This amount reflects the amount of securities held by the Master Fund and the Managed Account immediately following the transaction requiring the filing of this statement. In accordance with Instruction 5(b)(iv) of Form 4, the entire amount of the Issuer's securities held by Master Fund and the Managed Account is reported herein. Each of Mr. Edelman and the Advisor disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of his/its indirect pecuniary interest therein, and this report shall not be deemed an admission that either Mr. Edelman or the Advisor is the beneficial owner of such securities for purposes of Section 16 or for any other purposes.