Business
Acurx Pharmaceuticals, Inc. Reports Third Quarter 2021 Results and Provides Business Update
STATEN ISLAND, N.Y., Nov. 12, 2021 /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., Nov. 12, 2021 /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 September 30, 2021. \nHighlights of, and certain events subsequent to, the third quarter of 2021 include:\n12 clinical trial sites have been activated to commence enrollment of the Company's Phase 2b clinical trial of patients with C difficile infection (CDI) with enrollment expected to be completed in the second quarter of 2022; Additional microbiome data from the Phase 2a trial of ibezapolstat in patients with CDI were presented at two prominent scientific conferences shortly after completion of the third quarter; This Ph2a trial demonstrated 100% clinical cure and 100% sustained clinical cure with ibezapolstat along with beneficial microbiome changes during treatment including overgrowth of Actinobacteria and Firmicutes phylum species while on therapy and new findings which demonstrate potentially beneficial effects on bile acid metabolism These reported clinical results support the expectation that microbiome effects may be predictive of beneficial patient outcomes including low rates of recurrence The previously announced R&D program in collaboration with Leiden University Medical Center in Holland was launched 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. Third Quarter 2021 Financial Results\nResearch and development expenses for the three months ended September 30, 2021 were $1.1 million compared to $0.7 million for the three months ended September 30, 2020. The increase is primarily due to Phase 2B trial related costs. For the nine-months ended September 30, 2021, research and development expenses were $1.3 million compared to $1.7 million for the nine-months ended September 30, 2020. The decrease is due to the Phase 2a trial related costs which was completed in 2020.\nSelling, general and administrative expenses for the three months ended September 30, 2021 were $3.5 million compared to $0.7 million for the three months ended September 30, 2020. The increase was primarily due t...