Acurx Pharmaceuticals Llc ( (ACXP) ) has released its Q4 earnings. Here is a breakdown of the information Acurx Pharmaceuticals Llc presented to its investors.
Acurx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing new antibiotics for challenging bacterial infections, with a particular emphasis on Gram-positive bacteria. The company recently reported its financial results for the fourth quarter and full year of 2024, highlighting significant progress in its clinical trials and strategic initiatives.
During the fourth quarter of 2024, Acurx Pharmaceuticals made notable advancements with its lead antibiotic candidate, ibezapolstat, which demonstrated promising results in Phase 2b clinical trials for treating C. difficile infections. The company received positive regulatory guidance from the European Medicines Agency, aligning with the FDA for its Phase 3 clinical trial program. Additionally, Acurx secured a $2.5 million direct offering and a $1.1 million private placement to bolster its financial position.
Financially, Acurx ended 2024 with a cash position of $3.7 million, a decrease from the previous year, while reducing its net loss to $14.1 million from $14.6 million in 2023. The company successfully lowered its research and development expenses by $0.6 million and general administrative expenses by $0.2 million, reflecting cost management efforts.
Looking ahead, Acurx Pharmaceuticals is poised to advance its ibezapolstat candidate into international Phase 3 trials, supported by regulatory alignment and financial backing. The company’s strategic focus on developing antibiotics with a selective spectrum offers potential competitive advantages in the treatment of bacterial infections.