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Acurx Pharmaceuticals(ACXP) - 2024 Q4 - Annual Results
ACXPAcurx Pharmaceuticals(ACXP)2025-03-18 11:12

Financial Performance - The company reported a net loss of 2.8millionor2.8 million or 0.16 per diluted share for Q4 2024, compared to a net loss of 5.1millionor5.1 million or 0.37 per diluted share for Q4 2023[11]. - Net loss for 2024 was 14,103,103comparedtoanetlossof14,103,103 compared to a net loss of 14,577,768 in 2023, indicating an improvement in financial performance[20]. - Loss per share improved to (0.87)in2024from(0.87) in 2024 from (1.15) in 2023, reflecting a reduction in loss per share of approximately 24.3%[20]. Cash and Financing - The company ended 2024 with cash totaling 3.7million,downfrom3.7 million, down from 7.5 million as of December 31, 2023[6]. - The company raised a total of 6.6millioningrossproceedsunderitsATMfinancingprogramfortheyearendedDecember31,2024[6].−Thecompanycloseda6.6 million in gross proceeds under its ATM financing program for the year ended December 31, 2024[6]. - The company closed a 2.5 million registered direct offering in January 2025[3]. Research and Development - Research and development expenses for Q4 2024 were 0.8million,adecreaseof0.8 million, a decrease of 1.1 million from 1.9millioninQ42023[9].−ResearchandDevelopmentexpensesdecreasedto1.9 million in Q4 2023[9]. - Research and Development expenses decreased to 5,403,836 in 2024 from 6,043,597in2023,adeclineofabout10.66,043,597 in 2023, a decline of about 10.6%[20]. - Ibezapolstat demonstrated a 96% clinical cure rate in combined Phase 2 trials for patients with CDI, with 100% of treated patients remaining cured one month after treatment[3]. - The company received positive regulatory guidance from the European Medicines Agency for the ibezapolstat Phase 3 clinical trial program, aligning with FDA feedback[3]. - A new patent for DNA polymerase IIIC inhibitors was granted by the Japanese Patent Office, expiring in December 2039[8]. Operating Expenses - General and administrative expenses for Q4 2024 were 2.0 million, down from 3.2millioninQ42023[10].−Totaloperatingexpensesdecreasedto3.2 million in Q4 2023[10]. - Total operating expenses decreased to 14,103,103 in 2024 from 14,577,768in2023,representingareductionofapproximately3.214,577,768 in 2023, representing a reduction of approximately 3.2%[20]. - General and Administrative expenses increased slightly to 8,699,267 in 2024 from $8,534,171 in 2023, an increase of approximately 1.9%[20]. Shares Outstanding - The company had 17,030,686 shares outstanding as of December 31, 2024[12]. - Weighted average common shares outstanding increased to 16,163,366 in 2024 from 12,671,572 in 2023, an increase of about 27.6%[20].