EXETER, N.H.--(BUSINESS WIRE)--The Board of Directors of CPEX Pharmaceuticals Inc., (NASDAQ: CPEX) today recommended that its shareholders take no action at this time in response to the announcement by Arcadia Capital Advisors, LLC through RSR Acquisition Co. and its principal Richard Rofé that it has made an unsolicited conditional tender offer to acquire all of the outstanding shares of CPEX for $16.00 per share in cash.
