Item 1.02. Termination of a Material Definitive Agreement.

As reported on a Current Report on Form 8-K filed by Apricus Biosciences, Inc. (the "Company") on November 13, 2012, on November 7, 2012, NexMed (U.S.A.) Inc., a wholly owned subsidiary of the Company, entered into a Real Estate Purchase Agreement with Maujer, LLC (the "Purchase Agreement"), whereby the Company agreed to sell to Maujer real estate located at 89 Twin Rivers Drive and 113 Milford Road, East Windsor, NJ (the "Property") and Maujer agreed to purchase the Property for $4.25 million. The description of the Purchase Agreement in the Form 8-K filed on November 13, 2012 is incorporated herein by reference.

On December 10, 2012, the Company received from Maujer notice of termination of the Purchase Agreement pursuant to Section 33 thereof, which granted Maujer a 30 day due diligence period. The termination was effective immediately. In accordance with Section 33 of the Purchase Agreement, the Company will return to Maujer the refundable deposit of $425,000. The Property remains for sale and the Company recently extended the mortgage due date on the Property to December 31, 2014, as disclosed by the Company on a Current Report on Form 8-K filed on December 10, 2012.

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