Relieving Pain….Improving Lives
Exhibit 99.1


Special Note Regarding Forward Looking
Statements
2
This presentation includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934.  These statements, among other things, relate to our business strategy, goals
and expectations concerning our product candidates, future operations, prospects,
plans and objectives of management.  The words "anticipate", "believe", "could",
"estimate", "expect", "intend", "may", "plan", "predict", "project", "will" and similar terms
and phrases are used to identify forward-looking statements in this presentation.  Our
operations involve risks and uncertainties, many of which are outside our control, and
any one of which, or a combination of which, could materially affect our results of
operations and whether the forward-looking statements ultimately prove to be correct.
These forward-looking statements should be considered together with the risks and
uncertainties that may affect our business and future results included in our filings
with the Securities and Exchange Commission at www.sec.gov.  These forward-
looking statements are based on information currently available to us, and we assume
no obligation to update any forward-looking statements except as required by
applicable law.


Company Highlights
Dex-IN –
intranasal, non-opioid in Phase II for post-
operative pain, a significant market opportunity
Multiple clinical studies demonstrate analgesic
effect, fast onset of action and well tolerated
Multiple clinical and regulatory milestones over next
few years
Expect to file 505(b)(2) NDA shortly after completion
of Phase III
Experienced team with significant development,
regulatory and commercial experience
3


Experienced Management and Board
4
Gerri
Henwood
President
and
CEO
Founded Auxilium Pharmaceuticals (AUXL,
NASDAQ; revs ~$400M (’12); ~$1bn market cap)
and IBAH (former NASDAQ Co., net revs $130M
yr./gross revs >$450 M/yr. –
acquired 1998);
GSK
Chuck
Garner
CFO,
CBO
and
Treasurer
Over 14 years of life sciences investment
banking experience –
Deutsche Bank, Burrill &
Co., Inverness Advisors; PwC
Randy
Mack
SVP,
Development
Over 20 years of clinical development
experience –
Adolor, Auxilium, Abbott Labs
and
Harris
Labs
Board of Directors
Wayne B. Weisman
Chairman
SCP VitaLife Partners
Winston J. Churchill
SCP VitaLife Partners
Gerri Henwood –
CEO
William L. Ashton
Harrison Consulting Group; frmly Amgen
Abraham Ludomirski, M.D.
SCP VitaLife Partners
Alfred Altomari
CEO, Agile Therapeutics
Michael Berelowitz
Former SVP, Specialty Care Business Unit,
Pfizer


Clinical Stage Pipeline
Product
PC
I
II
III
Rights
Dexmedetomidine (“Dex”)
WW, exc. Europe, Turkey, CIS*
Dex
-
IN
(intranasal)
Post-operative pain
Cancer breakthrough pain
Dex-SL (sublingual)
Transdermal
Fadolmidine (“Fado”)
WW, exc. Europe, Turkey, CIS*
Intrathecal
Post-operative pain
Topical
Neuropathic pain
5
* CIS currently includes Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia,
Tajikistan, Turkmenistan, Ukraine, and Uzebekistan.


Multiple Key Milestones Next Few Years
6
Event
Anticipated
Completion Timing
Post-Operative Pain Study
(6 month Phase IIb study in 150-180 pts)
2H ’14
Post-Op Pain –
Intra-Abdominal Surgery
(pivotal Phase III study; 6-9 months in 200+ pts)
2H ’15
Post-Op Pain –
Orthopedic Surgery
(pivotal Phase III study; 6-9 months in 200+ pts)
2H ’15
NDA filing
Shortly after Ph III
NDA Approval
12 month review
period


Post-Op Pain Market Underserved
7
$5.9 billion market
(1)
Predominantly opioid
use
Significant side effects /
issues associated with
opioids
Dearth of non-opioid
drugs in development
Inpatient procedures
Total procedures (2009)
47.9M
Addressable
>25M
Ambulatory procedures
Total procedures (2006)
53.3M
Addressable
>25M
Note: Addressable includes procedures expected to
utilize pain medication.
Source: National Center for Health Statistics and
management estimates.
(1) GBI Research, 2010 sales.


Limited Pain Relief Options for Patients
8
Pain
Severity
Class
Compounds
Advantages
Disadvantages
Mild
Acetaminophen
Antipyretic properties;
Oral; no opioid AEs
Only effective for mild pain
NSAIDs
Ketorolac,
ibuprofen, aspirin
Mild to moderate
analgesia; oral; no
opioid AEs
Bleeding risk; GI and renal
complications
Moderate
Sodium channel
blockers
Bupivacaine,
lidocaine
Use directly at pain
site; mostly peri-
operative
Limited duration of action; some are
concerned  about local tissue impact
Severe
Alpha 2 agonists
Dexmedetomidine
(Recro Pharma)
Good pain relief;
anxiolytic properties;
no respiratory
depression, impaired GI
or addictive properties
In development –
potential for first in
class to be approved for post-
operative pain
Opioids
Morphine,
hydrocodone,
oxycodone, fentanyl
Good pain relief
Respiratory depression, impaired GI
motility after even one dose;
frequent nausea and vomiting;
abuse/addiction potential
Note: Pain severity based upon market research / physician feedback


9
Dexmedetomidine (“Dex”)


Dex Has Demonstrated Analgesia & Safety
Alpha 2 agonist (non-opioid)
Injectable form (Precedex) marketed by Hospira in US as sedative
Multiple studies demonstrating analgesia of alpha 2 agonists
Intranasal formulation in clinical development for post-op pain
In-licensed non-IV rights from Orion
Worldwide rights except Europe, Turkey, and CIS
Multiple studies demonstrate Dex pain relief and safe profile
Including our completed placebo controlled trials
Expect strong IP position
Pending IP coverage could run through 2030
Expect to file 505(b)(2) NDA shortly after completion of Ph III
10


Precedex®
Significant Growth in ICU Use
Growing interest among
anesthesiologists
Well understood and
effective
physician
familiarity with Dex
US patent expired Jan ‘14
Dex-IN PK/metabolism
create dosing complexities
11
Source: IMS Health


Dex Efficacy and Safety in Multiple Studies
12
Beneficial effects
Source
Approved sedative and safe profile
NDA filing / pivotal trials -
Abbott/Hospira, Orion
Morphine sparing
NDA studies plus Literature
Analgesia by IV route
Chan, 2010; Grosu, 2010; Lin, 2009, Arain,
2010
Demonstration of pain relief (VAS)
Placebo controlled trials; L. Webster, MD
(Utah) CLBP study (Recro sponsored)
Positive PK/PD plasma levels
demonstrating analgesic potential
Clinical trials run by Recro
Relieves morphine “Max”
(‘hyperalgesia’)
University of Minnesota; M. Belgrade, MD


Significant Advantages Over Opioids
13
Dex
Fast-acting Opioids
Non-opioid (Not controlled substance)
Opioid -
DEA scheduled product
No habituation effects
Addictive
Does not cause respiratory depression
Respiratory depression
Not associated with constipation,
nausea, or vomiting
Unwanted side-effects of constipation,
nausea and vomiting
Enhances morphine effectiveness
without morphine dose increase
Additive effect requires higher dose
More cognitively intact
Frequently “Foggy”/ may be confused
Anxiolytic properties
Not anxiolytic
Effective Analgesic
Effective Analgesic


Dex Has Been Well Studied by Recro
Trial
Form
Design
Outcome
REC-11-010
Dex-IN
Chronic lower back
pain POC study (n=24)
Statistically significant pain relief
within 30 minutes demonstrated
in
placebo
controlled
trial
single
use device
REC-09-003
Dex-SL
Chronic lower back
pain POC study (n=21)
Statistically
significant reduction
in pain intensity demonstrated in
placebo controlled trial
REC-11-008
Dex-IN
Multi-dose PK study
(n=12)
Safety & tolerability of IN dosage
form
14
Evaluated proprietary formulations of Dex in 8
completed clinical trials


Dex-IN Study REC-11-010
(US placebo controlled POC trial)
24 chronic lower back pain (CLBP) patients
Chronic opioid users & non-opioid users
PBO controlled, cross-over to evaluate:
Analgesia –
Standard VAS for Pain Intensity and Pain Relief at multiple
timepoints
Safety
Adverse
Events,
Vital
Signs,
Sedation
Single doses in a 3-way cross-over
PBO
Dex-IN 25 µg
Dex-IN 50 µg
Pain intensity measurements focused on 1 hour with
patients monitored for up to 24 hours
15


Fast Onset of and Prolonged Action
(Clinical trial REC-11-010 –
Dex-IN pharmacokinetics)
Note: Administered with single unit device
16
0
0.05
0.1
0.15
0.2
0.25
0
0.25
0.5
0.75
1
1.25
1.5
1.75
2
Time (hr)
DEX-IN 25µg
DEX-IN 50µg


Statistically Significant Pain Relief
(Dex-IN –
REC-11-010)
Scale: 0 = No Relief, 4 = Complete Relief
*
*
*
* p < 0.05
** p < 0.01
17
0
0.5
1
1.5
2
2.5
BL
0.25
0.5
0.75
1
Time (hours)
DEX-IN PBO
DEX-IN 25µg
DEX-IN 50µg
*


Significant Pain Relief Over Time
(Dex-IN –
REC-11-010 –
Summary Pain Intensity Differences)
* p < 0.05
18
0
1
2
3
4
5
6
7
8
0
0.25
0.5
0.75
1
Time (Hour)
DEX-IN PBO
DEX-IN 25µg
DEX-IN 50µg
*


Dex-IN
Pain
Scores
Comparative
-
1
hr
(Sublingual Sufentanil NanoTab –
Major Abdominal Surgery)
Singla, Reg Anesth Pain Med 2010
19


Similar Dex-IN Pain Scores over 1 hr
(Sublingual Sufentanil NanoTab –
Knee Replacement Surgery)
Skowronski, Reg Anesth Pain Med 2010
20


Select Opioid Clinical Trials Side Effects
21
Source:  Stegmann et. al. (2008). The efficacy and tolerability of multiple-dose tapentadol
immediate release for the relief of acute pain following orthopedic (bunionectomy) surgery.
Current Medical Research and Opinion
Placebo
Tapentadol IR
50mg
Tapentadol IR
100mg
Oxycodone IR
10mg
Event
n = 67
n = 67
n = 68
n = 67
Nausea
17.9%
46.3%
66.2%
71.6%
Dizziness
14.9%
32.8%
64.7%
56.7%
Somnolence
7.5%
28.4%
36.8%
26.9%
Vomiting
1.5%
16.4%
35.3%
38.8%
Headache
10.4%
17.9%
22.1%
20.9%
Pruritus generalized
0.0%
7.5%
13.2%
10.4%
Hyperhidrosis
1.5%
6.0%
8.8%
10.4%
Constipation
1.5%
6.0%
7.4%
17.9%
Pruritus
3.0%
7.5%
7.4%
11.9%
Feeling Hot
4.5%
7.5%
2.9%
10.4%


Dex-IN Well Tolerated
(Clinical
trial
REC-11-010
-
Adverse
events†)
Placebo
(n=24)
DEX-IN 25 µg 
(n=24)
DEX-IN 50 µg 
(n=24)
Dry Mouth
-
2
2
Nausea
1
3
5
Vomiting
-
1
2
Feeling Abnormal
-
2
3
BP Decrease
-
-
2
Dizziness
4
5
10
Headache
1
4
4
Paraesthesia
-
-
2
Sinus Headache
-
2
1
Somnolence
-
6
18
Nasal Congestion
-
-
2
Nasal Discomfort
-
1
3
Hypotension
-
4
7
†Reported by more than one subject
22


Dex-IN Repeat Dosing Well Tolerated
(Clinical trial REC-11-008)
7 consecutive doses of 35 mcg Dex-IN every 6 hours
Evaluated heart rate, blood pressure and BP upon
standing every 5 minutes for two hours after dosing
Transient effect after initial dosing
None of the above effects categorized by
investigators as AEs
23


Well Tolerated Profile –
Repeated Dosing
(Study REC-11-008 –
35 mcg Dex-IN formulation)
Period 1
n = 12
Period 2
n = 10
Term
D1
D2
D1
D2
D3
D4
D5
D6
D7
Total
7am
1pm
7am
1pm
7pm
1am
7am
1pm
7pm
Back Pain
-
-
-
-
1
-
-
-
1
1
Muscle Spasms
-
-
-
-
-
-
-
-
-
1
Dizziness
-
1
2
-
-
-
-
-
-
3
Headache
-
-
-
1
-
-
-
-
-
1
Anxiety
-
-
1
-
-
-
-
-
-
1
Nasal Discomfort
-
3
-
5
-
-
-
-
-
6
Nasal Dryness
-
1
-
2
-
-
-
-
-
3
Rhinalgia
-
-
-
-
1
-
-
-
-
1
Rinorrhea
-
1
-
-
-
-
-
-
-
1
Number of Subjects
24


Dex-IN Next Steps in Post-Operative Pain
25
Initial commercial use: acute (5-7 days)
Planned Phase IIb bunionectomy study in 150-180 pts
Randomized, placebo controlled study
Primary endpoint – summary of pain intensity scores (SPID)
Rescue therapy allowed
6 months from first subject dosed to data available
GLP toxicology studies
Pivotal post-op pain studies – abdominal, orthopedic


Fadolmidine (“Fado”)
26


Fado Effective in Phase II for Pain Relief
Alpha 2 agonist
more potent at the alpha 2c receptor than Dex
>20 fold less potent at the alpha 1b receptor than clonidine
Fado has demonstrated analgesia in multiple animal models
Positive Phase II analgesia study in bunionectomy patients
Intrathecal route of administration
Formulation work underway for topical prototype
Potential in regional neuropathies
WW rights to all human uses except Europe, Turkey and CIS
NCE patent  w/ expected extension to 2021 / pursuing add’l IP
27


Corporate Overview
28


Intellectual Property
Dex applications for methods for treating/preventing
pain through intranasal, sublingual and transdermal
formulations without sedation
Dex composition of oral transmucosal (SL)
formulation and dispensing devices
Fado IP in-licensed from Orion
Composition of matter
Method of administration for analgesia
Treatment and prevention of hypotension and shock
Regulatory exclusivity
505(b)(2) –
3 years (Dex-IN, Dex-SL)
505(b)(1) –
NCE, 5 years (Fado)
29


Company Highlights
Dex-IN –
intranasal, non-opioid in Phase II for post-
operative pain, a significant market opportunity
Multiple clinical studies demonstrate analgesic
effect, fast onset of action and well tolerated
Multiple clinical and regulatory milestones over next
few years
Expect to file 505(b)(2) NDA shortly after completion
of Phase III
Experienced team with significant development,
regulatory and commercial experience
30