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<P id=PARA2 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>As filed with the Securities and Exchange Commission on March&nbsp;7, 2016</B></FONT></P>
<P id=PARA3 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P>
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<P id=PARA8 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>UNITED STATES</B></FONT></P>
<P id=PARA9 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P id=PARA10 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Washington, D.C. 20549</B></FONT></P>
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<P id=PARA14 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>FORM S-8</B></FONT></P>
<P id=PARA15 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>REGISTRATION STATEMENT</B></FONT></P>
<P id=PARA16 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>UNDER</B></I></FONT></P>
<P id=PARA17 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>THE SECURITIES ACT OF 1933</B></I></FONT></P>
<P id=PARA18 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA21 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>ACELRX PHARMACEUTICALS, INC.</B></FONT></P>
<P id=PARA22 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(Exact name of registrant as specified in its charter)</B></FONT></P>
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<P id=PARA32 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Delaware</B></FONT></P></TD>
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<P id=PARA34 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>351 Galveston Drive</B></FONT></P>
<P id=PARA35 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Redwood City, CA 94063</B></FONT></P>
<P id=PARA36 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(650) 216-3500</B></FONT></P></TD>
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<P id=PARA38 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>41-2193603</B></FONT></P></TD></TR>
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<P id=PARA39 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(State or other jurisdiction of</B></FONT></P>
<P id=PARA40 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>incorporation or organization)</B></FONT></P></TD>
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<P id=PARA42 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(Address of principal executive offices,</B></FONT></P>
<P id=PARA43 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>including zip code)</B></FONT></P></TD>
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<P id=PARA45 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(I.R.S. Employer Identification No.)</B></FONT></P></TD></TR>
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<P id=PARA47 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
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<P id=PARA48 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<P id=PARA49 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
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<P id=PARA51 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>2011 Equity Incentive Plan</B></FONT></P>
<P id=PARA52 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>2011 Employee Stock Purchase Plan</B></FONT></P>
<P id=PARA53 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(Full titles of the plans)</B></FONT></P></TD>
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<P id=PARA55 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR></TABLE>
<P id=PARA58 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA68 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Howard B. Rosen</B></FONT></P>
<P id=PARA69 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Interim Chief Executive Officer</B></FONT></P>
<P id=PARA70 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>AcelRx Pharmaceuticals,&nbsp;Inc.</B></FONT></P>
<P id=PARA71 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>351 Galveston Drive</B></FONT></P>
<P id=PARA72 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Redwood City, CA 94063</B></FONT></P>
<P id=PARA73 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(650) 216-3500</B></FONT></P></TD></TR></TABLE>
<P id=PARA635 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(Name, address, including zip code, and telephone number, including area code, of agent for service)</B></FONT></P>
<P id=PARA78 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
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<P id=PARA80 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
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<P id=PARA89 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Copies to:</B></I></FONT></P></TD></TR>
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<P id=PARA94 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mark B. Weeks</B></FONT></P>
<P id=PARA95 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Cooley LLP</B></FONT></P>
<P id=PARA96 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>3175 Hanover Street</B></FONT></P>
<P id=PARA97 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Palo Alto, California 94304</B></FONT></P>
<P id=PARA98 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>(650) 843-5000</B></FONT></P>
<P id=PARA99 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Facsimile: (650)&nbsp;849-7400</B></FONT></P></TD></TR></TABLE>
<P id=PARA103 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA106 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange Act.</FONT></P>
<P id=PARA107 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA108 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
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<P id=PARA109 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
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<P id=PARA111 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 1%; VERTICAL-ALIGN: bottom" colSpan=2>
<P id=PARA113 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<P id=PARA115 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Large&nbsp;Accelerated&nbsp;filer</FONT></P></TD>
<TD style="WIDTH: 59%; VERTICAL-ALIGN: bottom" colSpan=2>
<P id=PARA116 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</FONT></P></TD>
<TD style="WIDTH: 20%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt" colSpan=2>
<P id=PARA118 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accelerated&nbsp;filer</FONT></P></TD>
<TD style="WIDTH: 1%; VERTICAL-ALIGN: bottom" colSpan=2>
<P id=PARA120 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9746;</FONT></P></TD></TR>
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<P id=PARA122 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 59%; VERTICAL-ALIGN: middle" colSpan=2>
<P id=PARA123 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 20%; VERTICAL-ALIGN: middle" colSpan=2>
<P id=PARA124 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 1%; VERTICAL-ALIGN: middle" colSpan=2>
<P id=PARA125 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<P id=PARA126 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Non-accelerated filer</FONT></P></TD>
<TD style="WIDTH: 59%; VERTICAL-ALIGN: middle" colSpan=2>
<P id=PARA127 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;&nbsp;(Do not check if a smaller reporting company)</FONT></P></TD>
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<P id=PARA128 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Smaller&nbsp;reporting&nbsp;company</FONT></P></TD>
<TD style="MARGIN-BOTTOM: 0px; WIDTH: 1%; VERTICAL-ALIGN: middle; MARGIN-TOP: 0px" colSpan=2>
<P id=PARA129 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</FONT></P></TD></TR></TABLE>
<P id=PARA131 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</P>
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<P id=PARA135 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>CALCULATION OF REGISTRATION FEE</B></FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><STRONG></STRONG>&nbsp;</P>
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<P id=PARA147 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Title of Securities</B></FONT></P>
<P id=PARA148 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>to be Registered</B></FONT></P></TD>
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<P id=PARA150 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Amount to be</B></FONT></P>
<P id=PARA151 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Registered(1)</B></FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">
<P id=PARA153 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Proposed Maximum</B></FONT></P>
<P id=PARA154 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Offering</B></FONT></P>
<P id=PARA155 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Price Per Share(2)</B></FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">
<P id=PARA157 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Proposed Maximum</B></FONT></P>
<P id=PARA158 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Aggregate</B></FONT></P>
<P id=PARA159 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Offering Price(2)</B></FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">
<P id=PARA161 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Amount of</B></FONT></P>
<P id=PARA162 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Registration Fee</B></FONT></P></TD></TR>
<TR>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 44%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">
<P id=PARA163 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Common Stock, par value $0.001 per share</FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">
<P id=PARA165 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2,714,859 shares</FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">
<P id=PARA167 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">$3.96</FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">
<P id=PARA169 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">$10,752,335</FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">
<P id=PARA171 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">$1,083&nbsp;</FONT></P></TD></TR></TABLE>
<P id=PARA175 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL180  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA176 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(1)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA177 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), this Registration Statement shall also cover any additional shares of the Registrant&#8217;s Common Stock that become issuable under the plan&nbsp;set forth herein by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding shares of the Registrant&#8217;s Common Stock.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 89.6%; VERTICAL-ALIGN: top" colSpan=2>&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA178 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(2)</FONT></P></TD>
<TD style="WIDTH: 89.6%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA179 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) and Rule 457(c) promulgated under the Securities Act. The offering price per share and the aggregate offering price are based upon the average of the high and low prices of the Registrant&#8217;s Common Stock as reported on the NASDAQ Global Market on March 4, 2016</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. </FONT></P></TD></TR></TABLE>
<P id=PARA181 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</P>
<DIV id=PGBK185  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR185  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM185  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR185  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA185.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA186 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>EXPLANATORY NOTE</B></FONT></P>
<P id=PARA188 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA187 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 23.05pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">This Registration Statement on Form S-8 is being filed for the purpose of registering an additional (i) 1,809,906 shares of the common stock of AcelRx Pharmaceuticals, Inc. (the &#8220;Registrant&#8221;) to be issued pursuant to the Registrant&#8217;s 2011 Equity Incentive Plan and (ii) 904,953 shares of the Registrant&#8217;s common stock to be issued pursuant to the Registrant&#8217;s 2011 Employee Stock Purchase Plan. </FONT></P>
<P id=PARA190 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA189 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>INCORPORATION BY REFERENCE OF CONTENTS OF</B></FONT></P>
<P id=PARA191 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>REGISTRATION STATEMENT ON FORM S-8</B></FONT></P>
<P id=PARA193 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA192 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The contents of the Registration Statements on Form S-8 (File Nos. 333-202709, 333-194634, 333-187206, 333-180334 and 333-172409) are incorporated by reference herein.</FONT></P>
<P id=PARA195 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA194 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>EXHIBITS</B></FONT></P>
<P id=PARA196 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL280  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA197 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit</B></FONT></P>
<P id=PARA198 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Number</B></FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA200 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA201 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA203 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amended and Restated Certificate of Incorporation&nbsp;of the Registrant.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(1)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA204 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA205 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA206 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.2</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA208 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amended and Restated Bylaws of the Registrant.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(2)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA209 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA210 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA211 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA213 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Reference is made to Exhibits 3.1 and 3.2</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA214 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA215 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA216 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.2</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA218 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Specimen Common Stock Certificate of the Registrant.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(3)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA219 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA220 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA221 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.3</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA223 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Second Amended and Restated Investor&#8217;s Rights Agreement, among the Registrant and certain of its security holders, dated as of November 23, 2009.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(4)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA224 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA225 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA226 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.4</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA228 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Warrant to Purchase Common Stock of the Registrant, issued to Hercules Technology II, L.P., dated as of December 16, 2013.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(5</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA229 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA230 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA231 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.5</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA233 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Warrant to Purchase Common Stock of the Registrant, issued to Hercules Technology Growth Capital, Inc., dated as of December 16, 2013.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(6</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA234 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA235 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA236 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.6</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA238 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Form of Warrant issued to certain purchasers pursuant to the Securities Purchase Agreement dated May 29, 2012, between the Registrant and the purchasers identified therein.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(7</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA239 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.7</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA240 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Warrant Modification Agreement to Purchase Common Stock of the Registrant, issued to Hercules Technology II, L.P. dated as of September 17, 2015.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;"> (8</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA241 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.8</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA242 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Warrant Modification Agreement to Purchase Common Stock of the Registrant, issued to Hercules Technology Growth Capital, Inc. dated as of September 17, 2015.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;"> (9</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA243 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">5.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA245 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Opinion of Cooley&nbsp;LLP.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA246 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA247 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA248 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">23.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA250 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of OUM &amp; Co., LLP, Independent Registered Public Accounting Firm.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA251 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA252 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA253 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">23.2</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA254 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of Ernst &amp; Young, LLP, Independent Registered Public Accounting Firm.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA255 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">23.3</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA257 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of Cooley&nbsp;LLP (included in Exhibit&nbsp;5.1).</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA258 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA259 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA260 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">24.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA262 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Power of Attorney. Reference is made to the signature page of this Form S-8.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA263 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA264 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA265 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA267 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2011 Equity Incentive Plan.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(10</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA268 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA269 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA270 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.2</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA272 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Forms of Stock Option Grant Notice, Stock Option Exercise Notice and Stock Option Agreement under 2011 Equity Incentive Plan.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(11</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA273 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA274 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA275 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.3</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA277 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Form of Restricted Stock Unit Award Agreement under 2011 Equity Incentive Plan.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(12</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA278 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.4</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA279 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2011 Employee Stock Purchase Plan.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;"> (13</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR></TABLE>
<P id=PARA281 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<TABLE id=TBL309S1  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="BORDER-TOP: #000000 1px solid; WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA283 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(1)</FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA284 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K (File No. 001-35068), as filed with the Commission on February&nbsp;18, 2011.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA285 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(2)</FONT></P></TD>
<TD style="WIDTH: 89.6%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA286 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 3.4 to the Registrant&#8217;s Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on January 7, 2011, as amended.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA287 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(3)</FONT></P></TD>
<TD style="WIDTH: 89.6%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA288 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.2 to the Registrant&#8217;s Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on January 31, 2011, as amended.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA289 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(4)</FONT></P></TD>
<TD style="WIDTH: 89.6%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA290 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.3 to the Registrant&#8217;s Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on November 12, 2010, as amended.</FONT></P></TD></TR></TABLE>
<P id=PARA637.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK637  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR637  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM637  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR637  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA637.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<TABLE id=TBL309  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA291 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(5)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA292 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.5 to the Registrant&#8217;s&nbsp;Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 17, 2014.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA293 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(6)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA294 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.6 to the Registrant&#8217;s Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 17, 2014.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA295 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(7)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA296 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.8 to the Registrant&#8217;s Current Report on Form 8-K (File No. 001-35068), as filed with the Commission on May 30, 2012.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA297 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(8)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA298 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.7 to the Registrant&#8217;s Quarterly Report on Form 10-Q (File No.&nbsp;001-35068), as filed with the Commission on November 3, 2015.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA299 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(9)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA300 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.8 to the Registrant&#8217;s Quarterly Report on Form 10-Q (File No.&nbsp;001-35068), as filed with the Commission on November 3, 2015.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA301 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(10)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA302 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 99.3 to the Registrant&#8217;s Registration Statement on Form S-8 (File No.&nbsp;333-172409), as filed with the Commission on February&nbsp;24, 2011.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA303 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(11)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA304 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 10.5 to the Registrant&#8217;s Annual Report on Form 10-K (File No.&nbsp;001-35068), as filed with the Commission on March&nbsp;30, 2011.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA305 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(12)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA306 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 10.6 to the Registrant&#8217;s Annual Report on Form 10-K (File No.&nbsp;001-35068), as filed with the Commission on March&nbsp;30, 2011.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA307 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(13)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA308 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 99.6 to the Registrant&#8217;s Registration Statement on Form S-8 (File No.&nbsp;333-172409), as filed with the Commission on February&nbsp;24, 2011.</FONT></P></TD></TR></TABLE>
<P id=PARA310.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK310  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR310  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM310  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR310  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA310.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P id=PARA312 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 2pt">&nbsp;</FONT></P>
<P id=PARA313 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>SIGNATURES</B></FONT></P>
<P id=PARA315 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA314 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 23.1pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&nbsp;S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Redwood City, State of California, on this 7th day of March, 2016</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.</FONT></P>
<P id=PARA316 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL332  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 40%; VERTICAL-ALIGN: top" colSpan=4>
<P id=PARA320 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>ACELRX PHARMACEUTICALS, INC.</B></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 5%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 35%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 60%; VERTICAL-ALIGN: top" colSpan=2>&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 5%; VERTICAL-ALIGN: top">
<P id=PARA323 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">By:</FONT></P></TD>
<TD style="WIDTH: 35%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-LEFT: 27pt">
<P id=PARA324 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">/s/ H</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">OWARD</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> B. R</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">OSEN</FONT></P></TD>
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<P id=PARA325 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT></P></TD></TR>
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<P id=PARA326 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
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<P id=PARA327 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>Howard B. Rosen</P></TD>
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<P id=PARA328 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT></P></TD></TR>
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<P id=PARA329 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 35%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 27pt">
<P id=PARA330 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT><I>Interim Chief Executive Officer</I></P></TD>
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<P id=PARA331 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I></I></FONT></P></TD></TR></TABLE>
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<P id=PARA333 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>POWER OF ATTORNEY</B></FONT></P>
<P id=PARA336 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA335 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 23.1pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>K</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>NOW</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B> A</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>LL</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B> P</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>ERSONS</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B> B</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Y</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B> T</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>HESE</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B> P</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>RESENTS</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>,</B> that each person whose signature appears below constitutes and appoints<B> H</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>OWARD</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B> B. R</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>OSEN</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> and<B> T</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>IMOTHY</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B> E. M</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>ORRIS</B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">, jointly and severally, as his true and lawful attorneys-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.</FONT></P>
<P id=PARA338 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA337 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 23.1pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</FONT></P>
<P id=PARA339 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA345 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Signature</B></FONT></P></TD>
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<P id=PARA346 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
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<P id=PARA347 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Title</B></FONT></P></TD>
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<P id=PARA348 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
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<P id=PARA349 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Date</B></FONT></P></TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center">/s/ HOWARD B. ROSEN</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">Interim Chief Executive Officer and Director</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: top">March&nbsp;7, 2016</TD></TR>
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<P id=PARA353 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">HOWARD B. ROSEN</FONT></P></TD>
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<P id=PARA356 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
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<P id=PARA357 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>(Principal Executive Officer)</I></FONT></P></TD>
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<P id=PARA358 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: top">
<P id=PARA359 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P></TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center">/s/ TIMOTHY E. MORRIS</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">Chief Financial Officer</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: top">March&nbsp;7, 2016</TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom">
<P id=PARA361 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">TIMOTHY E. MORRIS</FONT></P></TD>
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<P id=PARA364 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
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<P id=PARA365 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>(Principal Financial and Accounting Officer)</I></FONT></P></TD>
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<P id=PARA366 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: top">
<P id=PARA367 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P></TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center">/s/ ADRIAN ADAMS</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">Chairman of the Board of Directors</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">March&nbsp;7, 2016</TD></TR>
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<P id=PARA372 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>ADRIAN ADAMS</P></TD>
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<P id=PARA373 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
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<P id=PARA374 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P></TD>
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<P id=PARA375 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA376 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P></TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: top">
<P id=PARA377 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P></TD>
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<P id=PARA378 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">&nbsp; </TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA379 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA380 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA384 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">/s/ PAMELA P. PALMER, M.D., PH.D.</FONT></P></TD>
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<P id=PARA385 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
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<P id=PARA386 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Director</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA387 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA388 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March&nbsp;7, 2016</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: top">
<P id=PARA389 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">PAMELA P. PALMER, M.D., PH.D.</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA390 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">
<P id=PARA391 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA392 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA393 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">&nbsp;</TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA394 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">/s/ MARK G. EDWARDS</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA396 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
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<P id=PARA397 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Director</FONT></P></TD>
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<P id=PARA398 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA399 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March&nbsp;7, 2016</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: top">
<P id=PARA400 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">MARK G. EDWARDS</FONT></P></TD>
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<P id=PARA401 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
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<P id=PARA402 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA403 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA404 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">&nbsp;</TD></TR>
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<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA408 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">/s/ STEPHEN J. HOFFMAN, PH.D., M.D.</FONT></P></TD>
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<P id=PARA409 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">
<P id=PARA410 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Director</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA411 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA412 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March&nbsp;7, 2016</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom">
<P id=PARA413 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.65pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.65pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">STEPHEN J. HOFFMAN, PH.D., M.D.</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA414 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">
<P id=PARA415 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA416 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA417 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA421 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; FONT-VARIANT: small-caps">/s/ RICHARD AFABLE, M.D.</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA422 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">
<P id=PARA423 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Director</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA424 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA425 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March&nbsp;7, 2016</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: top">
<P id=PARA426 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; FONT-VARIANT: small-caps">RICHARD AFABLE, M.D.</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA427 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">
<P id=PARA428 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA429 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA430 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA434 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">/s/ MARK WAN</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA435 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">
<P id=PARA436 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Director</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA437 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA438 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March&nbsp;7, 2016</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 33.7%; VERTICAL-ALIGN: top">
<P id=PARA439 style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 8.8pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -8.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">MARK WAN</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA440 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 30.9%; VERTICAL-ALIGN: bottom">
<P id=PARA441 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 12.4%; VERTICAL-ALIGN: bottom">
<P id=PARA442 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom">
<P id=PARA443 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR></TABLE>
<P id=PARA448.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK448  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR448  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM448  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR448  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA448.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P id=PARA451 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>EXHIBITS</B></FONT></P>
<P id=PARA453 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL538  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA454 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit</B></FONT></P>
<P id=PARA455 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Number</B></FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA457 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA458 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA460 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amended and Restated Certificate of Incorporation of the Registrant.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(1)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA461 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA462 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA463 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.2</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA465 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amended and Restated Bylaws of the Registrant.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(2)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA466 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA467 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA468 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA470 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Reference is made to Exhibits 3.1 and 3.2</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA471 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA472 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA473 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.2</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA475 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Specimen Common Stock Certificate of the Registrant.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(3)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA476 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA477 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA478 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.3</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA480 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Second Amended and Restated Investor&#8217;s Rights Agreement, among the Registrant and certain of its security holders, dated as of November 23, 2009.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(4)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA481 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA482 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA483 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.4</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA485 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Warrant to Purchase Common Stock of the Registrant, issued to Hercules Technology II, L.P., dated as of December 16, 2013.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(5</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA486 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA487 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA488 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.5</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA490 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Warrant to Purchase Common Stock of the Registrant, issued to Hercules Technology Growth Capital, Inc., dated as of December 16, 2013.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(6</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA491 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA492 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA493 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.6</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA495 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Form of Warrant issued to certain purchasers pursuant to the Securities Purchase Agreement dated May 29, 2012, between the Registrant and the purchasers identified therein.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(7</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA496 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.7</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA497 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Warrant Modification Agreement to Purchase Common Stock of the Registrant, issued to Hercules Technology II, L.P. dated as of September 17, 2015.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;"> (8</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA498 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.8</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA499 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Warrant Modification Agreement to Purchase Common Stock of the Registrant, issued to Hercules Technology Growth Capital, Inc. dated as of September 17, 2015.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;"> (9</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA500 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">5.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA502 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Opinion of Cooley&nbsp;LLP.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA503 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA504 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA505 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">23.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA507 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of OUM &amp; Co., LLP, Independent Registered Public Accounting Firm.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA508 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">23.2</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA510 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of Ernst &amp; Young, LLP, Independent Registered Public Accounting Firm.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA511 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA512 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA513 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">23.3</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA515 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of Cooley&nbsp;LLP (included in Exhibit&nbsp;5.1).</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA516 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA517 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA518 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">24.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA520 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Power of Attorney. Reference is made to the signature page of this Form S-8.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA521 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA522 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA523 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA525 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2011 Equity Incentive Plan.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(10</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA526 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA527 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA528 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.2</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA530 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Forms of Stock Option Grant Notice, Stock Option Exercise Notice and Stock Option Agreement under 2011 Equity Incentive Plan.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(11</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: middle">
<P id=PARA531 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: middle">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: middle">
<P id=PARA532 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA533 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.3</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA535 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Form of Restricted Stock Unit Award Agreement under 2011 Equity Incentive Plan.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;">(12</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 8%; VERTICAL-ALIGN: top">
<P id=PARA536 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">99.4</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 90%; VERTICAL-ALIGN: bottom">
<P id=PARA537 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2011 Employee Stock Purchase Plan.<SUP style="vertical-align: baseline; position: relative; bottom:.33em;"> (13</SUP><SUP style="vertical-align: baseline; position: relative; bottom:.33em;">)</SUP></FONT></P></TD></TR></TABLE>
<P id=PARA539 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<TABLE id=TBL567  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="BORDER-TOP: #000000 1px solid; WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA541 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(1)</FONT></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA542 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K (File No. 001-35068), as filed with the Commission on February&nbsp;18, 2011.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA543 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(2)</FONT></P></TD>
<TD style="WIDTH: 89.6%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA544 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 3.4 to the Registrant&#8217;s Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on January 7, 2011, as amended.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA545 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(3)</FONT></P></TD>
<TD style="WIDTH: 89.6%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA546 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.2 to the Registrant&#8217;s Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on January 31, 2011, as amended.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA547 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(4)</FONT></P></TD>
<TD style="WIDTH: 89.6%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA548 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.3 to the Registrant&#8217;s Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on November 12, 2010, as amended.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA549 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(5)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA550 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.5 to the Registrant&#8217;s Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 17, 2014.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA551 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(6)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA552 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.6 to the Registrant&#8217;s Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 17, 2014.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA553 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(7)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA554 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.8 to the Registrant&#8217;s Current Report on Form 8-K (File No. 001-35068), as filed with the Commission on May 30, 2012.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA555 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(8)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA556 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.7 to the Registrant&#8217;s Quarterly Report on Form 10-Q (File No.&nbsp;001-35068), as filed with the Commission on November 3, 2015.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA557 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(9)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA558 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 4.8 to the Registrant&#8217;s Quarterly Report on Form 10-Q (File No.&nbsp;001-35068), as filed with the Commission on November 3, 2015.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA559 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(10)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA560 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 99.3 to the Registrant&#8217;s Registration Statement on Form S-8 (File No.&nbsp;333-172409), as filed with the Commission on February&nbsp;24, 2011.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA561 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(11)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA562 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 10.5 to the Registrant&#8217;s Annual Report on Form 10-K (File No.&nbsp;001-35068), as filed with the Commission on March&nbsp;30, 2011.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA563 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(12)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA564 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 10.6 to the Registrant&#8217;s Annual Report on Form 10-K (File No.&nbsp;001-35068), as filed with the Commission on March&nbsp;30, 2011.</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA565 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(13)</FONT></P></TD>
<TD style="WIDTH: 96%; VERTICAL-ALIGN: top" colSpan=2>
<P id=PARA566 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Incorporated herein by reference to Exhibit 99.6 to the Registrant&#8217;s Registration Statement on Form S-8 (File No.&nbsp;333-172409), as filed with the Commission on February&nbsp;24, 2011.</FONT></P></TD></TR></TABLE>
<P id=PARA568.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P></BODY></HTML>
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acrx20160305_s8.htm
As filed with the Securities and Exchange Commission on March 7, 2016
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ACELRX PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware
351 Galveston Drive
Redwood City, CA 94063
(650) 216-3500
41-2193603
(State or other jurisdiction of
incorporation or organization)
(Address of principal executive offices,
including zip code)
(I.R.S. Employer Identification No.)
2011 Equity Incentive Plan
2011 Employee Stock Purchase Plan
(Full titles of the plans)
Howard B. Rosen
Interim Chief Executive Officer
AcelRx Pharmaceuticals, Inc.
351 Galveston Drive
Redwood City, CA 94063
(650) 216-3500
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
Mark B. Weeks
Cooley LLP
3175 Hanover Street
Palo Alto, California 94304
(650) 843-5000
Facsimile: (650) 849-7400
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large Accelerated filer
☐
Accelerated filer
☒
Non-accelerated filer
☐ (Do not check if a smaller reporting company)
Smaller reporting company
☐
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered
Amount to be
Registered(1)
Proposed Maximum
Offering
Price Per Share(2)
Proposed Maximum
Aggregate
Offering Price(2)
Amount of
Registration Fee
Common Stock, par value $0.001 per share
2,714,859 shares
$3.96
$10,752,335
$1,083
(1)
Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional shares of the Registrant's Common Stock that become issuable under the plan set forth herein by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding shares of the Registrant's Common Stock.
(2)
Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) and Rule 457(c) promulgated under the Securities Act. The offering price per share and the aggregate offering price are based upon the average of the high and low prices of the Registrant's Common Stock as reported on the NASDAQ Global Market on March 4, 2016
.
EXPLANATORY NOTE
This Registration Statement on Form S-8 is being filed for the purpose of registering an additional (i) 1,809,906 shares of the common stock of AcelRx Pharmaceuticals, Inc. (the "Registrant") to be issued pursuant to the Registrant's 2011 Equity Incentive Plan and (ii) 904,953 shares of the Registrant's common stock to be issued pursuant to the Registrant's 2011 Employee Stock Purchase Plan.
INCORPORATION BY REFERENCE OF CONTENTS OF
REGISTRATION STATEMENT ON FORM S-8
The contents of the Registration Statements on Form S-8 (File Nos. 333-202709, 333-194634, 333-187206, 333-180334 and 333-172409) are incorporated by reference herein.
EXHIBITS
Exhibit
Number
Description
3.1
Amended and Restated Certificate of Incorporation of the Registrant.
(1)
3.2
Amended and Restated Bylaws of the Registrant.
(2)
4.1
Reference is made to Exhibits 3.1 and 3.2
.
4.2
Specimen Common Stock Certificate of the Registrant.
(3)
4.3
Second Amended and Restated Investor's Rights Agreement, among the Registrant and certain of its security holders, dated as of November 23, 2009.
(4)
4.4
Warrant to Purchase Common Stock of the Registrant, issued to Hercules Technology II, L.P., dated as of December 16, 2013.
(5
)
4.5
Warrant to Purchase Common Stock of the Registrant, issued to Hercules Technology Growth Capital, Inc., dated as of December 16, 2013.
(6
)
4.6
Form of Warrant issued to certain purchasers pursuant to the Securities Purchase Agreement dated May 29, 2012, between the Registrant and the purchasers identified therein.
(7
)
4.7
Warrant Modification Agreement to Purchase Common Stock of the Registrant, issued to Hercules Technology II, L.P. dated as of September 17, 2015.
(8
)
4.8
Warrant Modification Agreement to Purchase Common Stock of the Registrant, issued to Hercules Technology Growth Capital, Inc. dated as of September 17, 2015.
(9
)
5.1
Opinion of Cooley LLP.
23.1
Consent of OUM & Co., LLP, Independent Registered Public Accounting Firm.
23.2
Consent of Ernst & Young, LLP, Independent Registered Public Accounting Firm.
23.3
Consent of Cooley LLP (included in Exhibit 5.1).
24.1
Power of Attorney. Reference is made to the signature page of this Form S-8.
99.1
2011 Equity Incentive Plan.
(10
)
99.2
Forms of Stock Option Grant Notice, Stock Option Exercise Notice and Stock Option Agreement under 2011 Equity Incentive Plan.
(11
)
99.3
Form of Restricted Stock Unit Award Agreement under 2011 Equity Incentive Plan.
(12
)
99.4
2011 Employee Stock Purchase Plan.
(13
)
(1)
Incorporated herein by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-35068), as filed with the Commission on February 18, 2011.
(2)
Incorporated herein by reference to Exhibit 3.4 to the Registrant's Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on January 7, 2011, as amended.
(3)
Incorporated herein by reference to Exhibit 4.2 to the Registrant's Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on January 31, 2011, as amended.
(4)
Incorporated herein by reference to Exhibit 4.3 to the Registrant's Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on November 12, 2010, as amended.
(5)
Incorporated herein by reference to Exhibit 4.5 to the Registrant's Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 17, 2014.
(6)
Incorporated herein by reference to Exhibit 4.6 to the Registrant's Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 17, 2014.
(7)
Incorporated herein by reference to Exhibit 4.8 to the Registrant's Current Report on Form 8-K (File No. 001-35068), as filed with the Commission on May 30, 2012.
(8)
Incorporated herein by reference to Exhibit 4.7 to the Registrant's Quarterly Report on Form 10-Q (File No. 001-35068), as filed with the Commission on November 3, 2015.
(9)
Incorporated herein by reference to Exhibit 4.8 to the Registrant's Quarterly Report on Form 10-Q (File No. 001-35068), as filed with the Commission on November 3, 2015.
(10)
Incorporated herein by reference to Exhibit 99.3 to the Registrant's Registration Statement on Form S-8 (File No. 333-172409), as filed with the Commission on February 24, 2011.
(11)
Incorporated herein by reference to Exhibit 10.5 to the Registrant's Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 30, 2011.
(12)
Incorporated herein by reference to Exhibit 10.6 to the Registrant's Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 30, 2011.
(13)
Incorporated herein by reference to Exhibit 99.6 to the Registrant's Registration Statement on Form S-8 (File No. 333-172409), as filed with the Commission on February 24, 2011.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Redwood City, State of California, on this 7th day of March, 2016
.
ACELRX PHARMACEUTICALS, INC.
By:
/s/ H
OWARD
B. R
OSEN
Howard B. Rosen
Interim Chief Executive Officer
POWER OF ATTORNEY
K
NOW
A
LL
P
ERSONS
B
Y
T
HESE
P
RESENTS
,
that each person whose signature appears below constitutes and appoints
H
OWARD
B. R
OSEN
and
T
IMOTHY
E. M
ORRIS
, jointly and severally, as his true and lawful attorneys-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ HOWARD B. ROSEN
Interim Chief Executive Officer and Director
March 7, 2016
HOWARD B. ROSEN
(Principal Executive Officer)
/s/ TIMOTHY E. MORRIS
Chief Financial Officer
March 7, 2016
TIMOTHY E. MORRIS
(Principal Financial and Accounting Officer)
/s/ ADRIAN ADAMS
Chairman of the Board of Directors
March 7, 2016
ADRIAN ADAMS
/s/ PAMELA P. PALMER, M.D., PH.D.
Director
March 7, 2016
PAMELA P. PALMER, M.D., PH.D.
/s/ MARK G. EDWARDS
Director
March 7, 2016
MARK G. EDWARDS
/s/ STEPHEN J. HOFFMAN, PH.D., M.D.
Director
March 7, 2016
STEPHEN J. HOFFMAN, PH.D., M.D.
/s/ RICHARD AFABLE, M.D.
Director
March 7, 2016
RICHARD AFABLE, M.D.
/s/ MARK WAN
Director
March 7, 2016
MARK WAN
EXHIBITS
Exhibit
Number
Description
3.1
Amended and Restated Certificate of Incorporation of the Registrant.
(1)
3.2
Amended and Restated Bylaws of the Registrant.
(2)
4.1
Reference is made to Exhibits 3.1 and 3.2
.
4.2
Specimen Common Stock Certificate of the Registrant.
(3)
4.3
Second Amended and Restated Investor's Rights Agreement, among the Registrant and certain of its security holders, dated as of November 23, 2009.
(4)
4.4
Warrant to Purchase Common Stock of the Registrant, issued to Hercules Technology II, L.P., dated as of December 16, 2013.
(5
)
4.5
Warrant to Purchase Common Stock of the Registrant, issued to Hercules Technology Growth Capital, Inc., dated as of December 16, 2013.
(6
)
4.6
Form of Warrant issued to certain purchasers pursuant to the Securities Purchase Agreement dated May 29, 2012, between the Registrant and the purchasers identified therein.
(7
)
4.7
Warrant Modification Agreement to Purchase Common Stock of the Registrant, issued to Hercules Technology II, L.P. dated as of September 17, 2015.
(8
)
4.8
Warrant Modification Agreement to Purchase Common Stock of the Registrant, issued to Hercules Technology Growth Capital, Inc. dated as of September 17, 2015.
(9
)
5.1
Opinion of Cooley LLP.
23.1
Consent of OUM & Co., LLP, Independent Registered Public Accounting Firm.
23.2
Consent of Ernst & Young, LLP, Independent Registered Public Accounting Firm.
23.3
Consent of Cooley LLP (included in Exhibit 5.1).
24.1
Power of Attorney. Reference is made to the signature page of this Form S-8.
99.1
2011 Equity Incentive Plan.
(10
)
99.2
Forms of Stock Option Grant Notice, Stock Option Exercise Notice and Stock Option Agreement under 2011 Equity Incentive Plan.
(11
)
99.3
Form of Restricted Stock Unit Award Agreement under 2011 Equity Incentive Plan.
(12
)
99.4
2011 Employee Stock Purchase Plan.
(13
)
(1)
Incorporated herein by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-35068), as filed with the Commission on February 18, 2011.
(2)
Incorporated herein by reference to Exhibit 3.4 to the Registrant's Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on January 7, 2011, as amended.
(3)
Incorporated herein by reference to Exhibit 4.2 to the Registrant's Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on January 31, 2011, as amended.
(4)
Incorporated herein by reference to Exhibit 4.3 to the Registrant's Registration Statement on Form S-1 (File No. 333-170594), as filed with the Commission on November 12, 2010, as amended.
(5)
Incorporated herein by reference to Exhibit 4.5 to the Registrant's Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 17, 2014.
(6)
Incorporated herein by reference to Exhibit 4.6 to the Registrant's Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 17, 2014.
(7)
Incorporated herein by reference to Exhibit 4.8 to the Registrant's Current Report on Form 8-K (File No. 001-35068), as filed with the Commission on May 30, 2012.
(8)
Incorporated herein by reference to Exhibit 4.7 to the Registrant's Quarterly Report on Form 10-Q (File No. 001-35068), as filed with the Commission on November 3, 2015.
(9)
Incorporated herein by reference to Exhibit 4.8 to the Registrant's Quarterly Report on Form 10-Q (File No. 001-35068), as filed with the Commission on November 3, 2015.
(10)
Incorporated herein by reference to Exhibit 99.3 to the Registrant's Registration Statement on Form S-8 (File No. 333-172409), as filed with the Commission on February 24, 2011.
(11)
Incorporated herein by reference to Exhibit 10.5 to the Registrant's Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 30, 2011.
(12)
Incorporated herein by reference to Exhibit 10.6 to the Registrant's Annual Report on Form 10-K (File No. 001-35068), as filed with the Commission on March 30, 2011.
(13)
Incorporated herein by reference to Exhibit 99.6 to the Registrant's Registration Statement on Form S-8 (File No. 333-172409), as filed with the Commission on February 24, 2011.