ACR) shares soar 36% on FDA approval

The Acrux Limited (ASX: ACR) share price is soaring today, up 36.36% at the time of writing to 22 cents a share.

Acrux shares closed at 16 cents a share yesterday but opened at 28 cents a share this morning before soaring all the way up to a high of 32 cents soon after. Even though Acrux has somewhat cooled off since, these new heights represent a 52-week high for the company.

So who is Acrux? And why are Acrux shares so convincingly on the march today?

An introduction

Acrux is a pharmaceutical company that describes itself as “dedicated to developing and commercialising topical pharmaceuticals”. It was incorporated in 1998. Ever since, it has developed and commercialised a number of topically applied pharmaceutical products in…