Business
Acurx Pharmaceuticals, Inc. Reports Third Quarter 2022 Results and Provides Business Update
STATEN ISLAND, N.Y., Nov. 14, 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., Nov. 14, 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 September 30, 2022. \nHighlights of, and certain events subsequent to, the third quarter of 2022 include:\nEnrollment continues in the Company's ongoing Phase 2b clinical trial of patients with C. difficile Infection (CDI);Due to slower than expected enrollment, the Company has added several clinical trial sites and anticipates that a total of up to 30 clinical trial sites will participate in the Phase 2b clinical trial;The 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. The Company has now completed certain portions of its laboratory study at the University of Houston comparing the killing effect of ibezapolstat to vancomycin, fidaxomicin and metronidazole using both in vitro and ex vivo analyses. Certain results were presented at the Anaerobe Society of America annual scientific conference and results demonstrated that ibezapolstat has favorable killing kinetics compared to vancomycin to treat C. difficile infection at standard and high bacterial concentrations, supporting continued development of this first-in-class antibiotic to treat C. difficile Infection.Scientific presentations of various aspects of ibezapolstat data were presented on behalf of the Company at two recent, prominent scientific conferences as follows:The Antimicrobial Resistance Conference (September 7, 2022);ID Week (October 20, 2022)In July 2022, the Company raised $4.225 million of gross proceeds by consummating a registered direct offering to one U.S. institutional investor and three executives of the Company at $3.25 per share (for the U.S. institutional investor) and $3.80 per share (for the Company's executives who invested $225,000 in total) with a total of 1,159,211 common shares and 130,769 pre-funded warrants issued. Warrants to pur...