Core Viewpoint - Acurx Pharmaceuticals has approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset, reflecting the growing demand and acceptance of Bitcoin as a primary asset class [1][2]. Company Overview - Acurx Pharmaceuticals is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics targeting difficult-to-treat bacterial infections, specifically Gram-positive bacteria [3]. Treasury Strategy - The company's President & CEO, David P. Luci, stated that Bitcoin's limited supply and inflation-resistant characteristics make it a functional store of value, and this new treasury strategy will not impact the company's drug development plans [2]. - The treasury strategy is aimed at cash that is not needed over the next 12 to 18 months, leveraging the recent approval of Bitcoin ETFs and increasing institutional support [2]. Research and Development Pipeline - Acurx's R&D pipeline includes antibiotic candidates targeting serious infections such as Clostridioides difficile, methicillin-resistant Staphylococcus aureus (MRSA), vancomycin-resistant Enterococcus (VRE), and drug-resistant Streptococcus pneumoniae (DRSP) [3].
Acurx Board of Directors Approves Bitcoin as Treasury Reserve Asset