Acurx Pharmaceuticals(US:ACXP)2024-03-18 20:15Financial Performance - Acurx Pharmaceuticals reported a net loss of $5.1 million or $0.37 per diluted share for Q4 2023, compared to a net loss of $3.3 million or $0.28 per diluted share for Q4 2022[6]. - General and administrative expenses for Q4 2023 increased to $3.2 million from $1.8 million in Q4 2022, driven by higher professional fees and employee compensation costs[5]. - Acurx's total operating expenses for the year ended December 31, 2023, were $14.6 million, compared to $12.1 million for the previous year[15]. Research and Development - Research and development expenses for Q4 2023 were $1.9 million, up from $1.4 million in Q4 2022, primarily due to Phase 2b trial-related costs[4]. - Ibezapolstat demonstrated a clinical cure rate of 96% in the Phase 2b trial for C. difficile infection, with 100% cure in Phase 2a and 94% in Phase 2b[1]. - The company reported a 100% sustained clinical cure rate at 30 days post-treatment for patients cured at the end of treatment in the Phase 2b trial, compared to a 14.3% reinfection rate for vancomycin[1]. - The company plans to advance Ibezapolstat to Phase 3 clinical trials, with additional data expected to support its market position[1]. Regulatory and Financial Position - The company ended 2023 with cash totaling $7.5 million, down from $9.1 million at the end of 2022, but raised approximately $4.5 million through an equity offering in early 2024[3]. - Acurx submitted an Information Package to the FDA in February 2024, requesting an End of Phase 2 Meeting scheduled for April 2024[2]. - The European Medicines Agency approved Acurx's application for small to medium-sized enterprise designation, providing benefits for seeking marketing authorization in Europe[2].