Revenue Generation - The company has not generated any revenue since inception and does not expect to generate revenue from product sales in the near future[112]. - The company has generated no revenue from operations since inception[124]. Research and Development - The company plans to substantially increase research and development expenses to continue the development of product candidates and discover new ones[115]. - The lead antibiotic candidate, ibezapolstat, has shown positive clinical trial results in Phase 2 trials, targeting Gram-positive bacteria[96]. - The company has an early-stage pipeline of antibiotic candidates targeting Gram-positive bacteria, including ACX-375C[98]. - Research and development expenses decreased to $0.6 million for the three months ended March 31, 2025, down 61% from $1.6 million in the same period of 2024[120]. Financial Performance - Total operating expenses for the three months ended March 31, 2025, were $2.1 million, reflecting a 51% reduction compared to $4.4 million in the same period of 2024[119]. - Net loss for the three months ended March 31, 2025, was $2.1 million, a decrease of 51% from $4.4 million in the same period of 2024[123]. - General and administrative expenses were $1.6 million for the three months ended March 31, 2025, a decrease of 45% from $2.8 million in the prior year[121]. - As of March 31, 2025, the company had working capital of $2.3 million, consisting primarily of $4.6 million in cash[126]. - Net cash used in operating activities was $2.1 million for the three months ended March 31, 2025, compared to $3.1 million in the same period of 2024[128][129]. - Net cash provided from financing activities was $3.0 million for the three months ended March 31, 2025, primarily from registered direct offerings[130]. - Cumulative losses since inception reached approximately $69.5 million as of March 31, 2025[124]. - The company raised net proceeds of approximately $8.8 million under the ATM Program before suspending it on January 6, 2025[124]. Strategic Partnerships - The company expects to partner with a fully-integrated pharmaceutical company for late-stage clinical trials and commercialization of its lead antibiotic candidate, ibezapolstat[95]. - The company is currently evaluating strategic transactions, including potential partnerships for further development and commercialization of ibezapolstat[99]. Compliance and Challenges - The company received a notice from Nasdaq regarding non-compliance with the minimum stockholders' equity requirement, needing to maintain at least $2.5 million in stockholders' equity[105]. - The company is facing challenges due to the COVID-19 pandemic, which may impact operations and collaborations[111].
Acurx Pharmaceuticals(ACXP) - 2025 Q1 - Quarterly Report