Acurx Pharmaceuticals, Inc. Announces Closing of $1.1 Million Registered Direct Offering

Core Viewpoint - Acurx Pharmaceuticals, Inc. has successfully closed a registered direct offering of 2,745,000 shares at a price of $0.40 per share, along with a concurrent private placement of unregistered short-term warrants to purchase up to 8,235,000 shares at the same exercise price, aiming to raise approximately $1.1 million for working capital and general corporate purposes [1][2]. Group 1: Offering Details - The registered direct offering involved 2,745,000 shares of common stock priced at $0.40 each, with a concurrent issuance of short-term warrants for 8,235,000 shares [1]. - The total gross proceeds from the offering were approximately $1.1 million before deducting fees and expenses [2]. - The warrants will be exercisable upon stockholder approval and will expire 24 months after such approval [1]. Group 2: Regulatory and Compliance Information - The shares were offered under a "shelf" registration statement filed with the SEC, which became effective on July 11, 2022 [3]. - The warrants and underlying shares have not been registered under the Securities Act and may not be sold in the U.S. without an effective registration statement or applicable exemption [4]. Group 3: Company Overview - Acurx Pharmaceuticals is focused on developing a new class of small molecule antibiotics targeting difficult-to-treat bacterial infections, particularly Gram-positive bacteria [6]. - The lead product candidate, ibezapolstat, is ready for Phase 3 trials for treating C. difficile infections, with plans for international clinical trials this year [6]. - The company's pipeline includes antibiotic candidates for various serious bacterial infections, including MRSA and drug-resistant Streptococcus pneumoniae [6].