Acurx Pharmaceuticals, Inc. Reports Third Quarter 2024 Results and Provides Business Update

Core Insights - Acurx Pharmaceuticals reported financial and operational results for Q3 2024, highlighting advancements in their antibiotic development program, particularly for ibezapolstat targeting C. difficile infections [1][2][3]. Financial Results - The company ended Q3 2024 with cash of $5.8 million, down from$7.5 million at the end of 2023, with an additional $1.6 million raised through an ATM financing program during the quarter [8]. - Research and development expenses for Q3 2024 were$1.2 million, a slight decrease from 1.3 million in Q3 2023, while total R&D expenses for the nine months ended September 30, 2024, increased to 4.6 million from $4.1 million in the same period of 2023 [9]. - General and administrative expenses for Q3 2024 were$1.6 million, down from 1.8 million in Q3 2023, with total G&A expenses for the nine months ended September 30, 2024, rising to 6.7 million from $5.4 million in the prior year [10]. - The company reported a net loss of$2.8 million or $0.17 per diluted share for Q3 2024, compared to a net loss of$3.1 million or $0.24 per diluted share for Q3 2023 [11]. Operational Highlights - In July 2024, Acurx presented Phase 2 clinical trial results for ibezapolstat at a major conference, and received a new patent for the drug, which is expected to provide a competitive advantage [1][2]. - Acurx submitted a request for a CMC meeting with the FDA to review manufacturing processes, aiming to commence Phase 3 clinical trials [2]. - The company participated in several scientific congresses in September 2024, showcasing their roadmap for Phase 3 clinical programs and updates on their GPSS® program for treating other gram-positive infections [3][4]. - Acurx announced in September that selected ACX-375 DNA pol IIIC analogues showed in vitro activity against ciprofloxacin-resistant Anthrax, indicating potential for a bioterrorism development program [5]. - At IDWeek in October 2024, Acurx presented data showing that ibezapolstat had comparable efficacy and safety to vancomycin in treating C. difficile infections [6]. Regulatory and Development Initiatives - The company plans to continue international regulatory filing initiatives in Q4 2024 [7]. - Ibezapolstat has received FDA designations as a Qualified Infectious Disease Product and Fast Track designation, emphasizing its potential in addressing urgent public health threats [13].