Recro Pharma, Inc.

Recro Pharma is a revenue-generating, specialty pharmaceutical company focused on products for hospitals and ambulatory care settings that is currently developing non-opioid products for the treatment of acute pain. Our lead product candidate is a proprietary injectable form of meloxicam. Intravenous, (IV), meloxicam has successfully completed multiple Phase II clinical trials for the treatment of moderate to severe pain. We believe injectable meloxicam compares favorably to competitive therapies in extent of pain relief, onset of pain relief and duration of pain relief. Our pipeline also includes Dex-IN, a proprietary intranasal formulation of dexmedetomidine (Dex), which successfully completed a Phase II clinical trial in post-operative pain. Based on feedback from the FDA regarding the benefit-risk profile of Dex-IN, we plan to pursue Dex-IN in peri-procedural pain. If approved, Dex-IN would also be the first approved peri-procedural pain drug in its class of drugs. As our product candidates are non-addictive, non-opioid drugs, we believe our candidates would avoid many of the side effects associated with commonly prescribed opioid therapeutics, such as addiction, constipation and respiratory depression while maintaining meaningful analgesic effects. We believe our product candidates could provide an attractive alternative pain medication alternative to help avoid use of opioids for the more than 50 million surgical procedures that require post-operative pain medication. We currently own and operate a 97,000 square foot, DEA-licensed manufacturing facility that makes five commercial products and receives royalties associated with the sales of these products.