Business
Acurx Pharmaceuticals, Inc. Reports First Quarter 2022 Results and Provides Business Update
STATEN ISLAND, N.Y., May 11, 2022 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("Acurx" or the "Company"), a clinical stage biopharmaceutical
About this update from Acurx Pharmaceuticals, Inc.
[{"type":"text","content":"STATEN ISLAND, N.Y., May 11, 2022 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) (\"Acurx\" or the \"Company\"), a clinical stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, announced today certain financial and operational results for the quarter ended March 31, 2022. \nHighlights of, and certain events subsequent to, the first quarter of 2022 include:\nEnrollment continues in the Company's ongoing Phase 2b clinical trial of patients with C. difficile Infection (CDI) with anticipated completion of enrollment late in the second half of 2022;Based on the strength of our previously reported Phase 2a results (100% cure rate at end of treatment with no recurrences at Day 38 follow up visit), the Company amended the Phase 2b trial protocol to add a novel exploratory endpoint of Extended Clinical Cure, for study visits at day 56 and day 84 after the end of treatment for a selected group of subjects to evaluate the longer-term effect of ibezapolstat on the microbiome and on disease recurrence. No comparable long-term data such as this has been conducted or reported with currently used antibiotics for CDI and it is not expected to interfere with the timing of completion of the Phase 2b clinical trial;The Company has added several clinical trial sites and anticipates up to 24 clinical trial sites will participate in the Phase 2b clinical trial; andThe Company has continued its R&D collaboration with Leiden University Medical Center (Holland) to further evaluate the mechanism-of-action of Acurx's inhibitors against the DNA pol IIIC enzyme, which is the bacterial target of our antibiotic product pipeline for the systemic treatment (IV and oral) of other gram-positive bacterial infections.First Quarter 2022 Financial Results\nResearch and development expenses for the quarter ended March 31, 2022 were $0.8 million compared to $0.1 million for the quarter ended March 31, 2021. The increase was primarily due to Phase 2b trial related costs and increased consulting costs.\nGeneral and administrative expenses for the quarter ended March 31, 2022 were $1.9 million compared to $1.4 million for the quarter ended March 31, 2021. The increase was primarily due to increases in professional fees, legal and insurance costs.\nThe Company reported a net loss of $2.7 million or $0...