In a recent filing with the Securities and Exchange Commission, Robert J. DeLuccia, a director and ten percent owner of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP), reported a significant acquisition of shares. The $12.4 million market cap company, which according to InvestingPro has maintained a strong cash position with more debt than cash, has seen its stock price decline over 80% in the past year. On January 6, 2025, DeLuccia purchased 49,261 shares of Acurx Pharmaceuticals' common stock at an average price of $1.015 per share, totaling approximately $49,999. This transaction was part of a registered direct offering by the company.
Additionally, DeLuccia acquired an equal number of warrants for common stock in a concurrent private placement, though these were acquired at no cost. Following these transactions, DeLuccia now holds 1,010,196 shares directly and an additional 3,847 shares indirectly through his spouse.
In other recent news, Acurx Pharmaceuticals is making significant strides in its clinical trials, particularly with ibezapolstat, a promising treatment for C. difficile infection. The company has received support from the European Medicines Agency (EMA) to progress ibezapolstat into Phase 3 trials. This development complements the positive feedback from the U.S. Food and Drug Administration (FDA) on the readiness of ibezapolstat for Phase 3 trials.
In the financial domain, Acurx reported a net loss of $2.8 million for the third quarter of 2024, with cash reserves of $5.8 million. As part of its treasury strategy, the company has approved the purchase of up to $1 million in Bitcoin.
In terms of intellectual property, Acurx has secured a new patent for ibezapolstat, extending its protection until June 2042. The company is also preparing for Phase III trials for ibezapolstat, which are planned to include 150 sites and 900 patients. These are recent developments in Acurx's ongoing efforts to bring novel treatments for infectious diseases to the market.
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