Financial Performance - The company reported a net loss of $2.1 million, or $0.11 per diluted share, for Q1 2025, compared to a net loss of $4.4 million, or $0.28 per diluted share, in Q1 2024, representing a 52% improvement in net loss [7]. - Research and development expenses decreased to $0.6 million in Q1 2025 from $1.6 million in Q1 2024, a reduction of 63% primarily due to lower manufacturing and consulting costs [5]. - General and administrative expenses fell to $1.6 million in Q1 2025 from $2.8 million in Q1 2024, a decrease of 43% attributed to reduced professional fees and share-based compensation costs [6]. Cash Position - The company ended Q1 2025 with cash totaling $4.6 million, an increase from $3.7 million as of December 31, 2024, following gross proceeds of approximately $3.6 million raised through two registered direct offerings [4]. - The company announced the closing of a registered direct offering and concurrent private placement in March 2025, raising gross proceeds of $1.1 million [9]. - Acurx closed an equity line of credit with Lincoln Park Capital for up to $12 million in May 2025, providing additional funding for operations [9]. Clinical Development - Acurx received positive regulatory guidance from the European Medicines Agency for the ibezapolstat Phase 3 clinical trial program, aligning with FDA feedback, positioning the company to commence international trials [3]. - Acurx's lead antibiotic candidate, ibezapolstat, is advancing to international Phase 3 clinical trials for treating C. difficile infection, with a unique spectrum of activity that spares beneficial gut microbiota [11]. Intellectual Property - The Japanese Patent Office granted a new patent for DNA polymerase IIIC inhibitors in February 2025, expiring in December 2039, supporting the development of ACX-375C [9]. Shareholder Information - The company had 22,397,511 shares outstanding as of March 31, 2025, an increase from 17,030,686 shares at the end of 2024 [8].
Acurx Pharmaceuticals(ACXP) - 2025 Q1 - Quarterly Results