Acurx Pharmaceuticals Reports Q3 2024 Financial Results and Business Update

Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) recently released its financial results for the third quarter ending September 30, 2024, along with a comprehensive business update. The company, known for developing a novel class of antibiotics to combat challenging bacterial infections, highlighted several key achievements during this period.

In July 2024, notable outcomes from the ibezapolstat (IBZ) Phase 2 clinical trial for patients with C. difficile Infection (CDI) were presented at the 17th Biennial Congress of the Anaerobe Society of the Americas. The trial results were shared by Taryn A. Eubank, PharmD, BCIDP, Research Assistant Professor at the University of Houston College of Pharmacy during an oral presentation on the “Clinical Efficacy of Ibezapolstat in CDI.”

In the same month, Acurx gained a new patent from the USPTO for ibezapolstat, extending the drug’s scope to include the treatment of C. difficile Infection while reducing the risk of recurrence and enhancing gut microbiome health. This patent is effective until June 2042, potentially positioning Acurx for a competitive edge in the future.

Following successful developmental progress, the company submitted a request to the FDA in August 2024 for a Chemistry, Manufacturing, and Controls (CMC) Meeting to review manufacturing processes and specifications required to kickstart Phase 3 clinical trials. This submission was a customary step post a productive End of Phase 2 clinical meeting with the FDA.

Additionally, in September 2024, Executive Chairman Bob DeLuccia presented at the World Antimicrobial Resistance Scientific Congress, outlining the comprehensive roadmap for the phase 3 clinical program and subsequent New Drug Application (NDA) filings globally. Updates on the preclinical GPSS® program targeting systemic oral and IV treatment of gram-positive infections like MRSA, VRE, and DRSP were also shared.

Throughout these months, Acurx Pharmaceuticals actively participated in scientific forums and symposiums like the 8th Annual C. Difficile Symposium, helping to bolster its presence and disseminate crucial research findings.

Financially, as of September 30, 2024, Acurx Pharmaceuticals had a cash position of $5.8 million, compared to $7.5 million as of December 31, 2023. Research and development expenses for Q3 2024 were $1.2 million, while general and administrative expenses were $1.6 million. The company reported a net loss of $2.8 million for the quarter, showcasing continued investments in its growth trajectory.

Acurx Pharmaceuticals remains committed to advancing its lead antibiotic candidate, ibezapolstat, through international Phase 3 clinical trials to address CDI effectively. The drug, acknowledged for its Gram-Positive Selective Spectrum (GPSS®), shows promise in treating various bacterial infections, marking a significant milestone for the company’s innovative antibiotic pipeline.

For further information on Acurx Pharmaceuticals and its ongoing developments, interested parties are encouraged to visit the company’s website at www.acurxpharma.com.

This communication may contain forward-looking statements, and readers are reminded to consider the risks and uncertainties that could impact future results. Acurx Pharmaceuticals disclaims any obligation to update such statements post-publication to align with subsequent events or regulatory requirements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Acurx Pharmaceuticals’s 8K filing here.

Acurx Pharmaceuticals Company Profile

Acurx Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops antibiotics to treat bacterial infections. The company's lead antibiotic candidate is ibezapolstat, a novel mechanism of action that targets the polymerase IIIC enzyme that is in Phase 2b clinical trial to treat patients with clostridium difficile infections.