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Acurx Board of Directors Approves Bitcoin as Treasury Reserve Asset
STATEN ISLAND, N.Y., Nov. 20, 2024 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("we" or "Acurx" or the "Company"), a late-stage
About this update from Acurx Pharmaceuticals, Inc.
[{"type":"text","content":"STATEN ISLAND, N.Y., Nov. 20, 2024 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) (\"we\" or \"Acurx\" or the \"Company\"), a late-stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, announced today that the Company's Board of Directors approved the purchase of up to $1 million in Bitcoin to hold as a treasury reserve asset.\n\n\"As demand for Bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset for cash not needed over the next 12 to 18 months\" said David P. Luci, President & CEO of Acurx. \"With the recent approval of Bitcoin ETFs and the growing support from government agencies and institutional investors, it is a great addition to our treasury strategy. Its limited supply and inflation-resistant characteristics provide a functional store of value. This new treasury strategy is a finance strategy and has no impact on our overarching drug development plans.\"\nAbout Acurx Pharmaceuticals, Inc. \nAcurx Pharmaceuticals is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. The Company's approach is to develop antibiotic candidates with a Gram-positive selective spectrum (GPSS®) that blocks the active site of the Gram+ specific bacterial enzyme DNA polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. Its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillin-resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP).\nTo learn more about Acurx Pharmaceuticals and its product pipeline, please visit www.acurxpharma.com. \nForward-Looking Statements \nAny statements in this press release about our future expectations, plans and prospects, including statements regarding our strategy, future operations, prospects, plans and objectives, and other statements containing the words \"believes,\" \"anticipates,\" \"plans,\" \"expects,\" and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Act...