#United States #Ibezapolstat #Staten Island #Acurx Pharmaceuticals #Antibiotic Development

Acurx Pharmaceuticals Completes $2.5 Million Direct Stock Offering

On January 7, 2025, Acurx Pharmaceuticals, Inc., a biopharmaceutical firm focused on combating hard-to-treat bacterial infections, announced the successful completion of a registered direct offering. This offering involved issuing 2,463,058 shares of common stock at a price of $1.015 per share. The capitalization effort, executed under Nasdaq regulations, is expected to bring in approximately $2.5 million before accounting for any associated fees.

Details of the Offering

In addition to the common shares, Acurx also engaged in a concurrent private placement, resulting in the issuance of unregistered warrants to purchase an equal number of shares. These warrants come with an exercise price of $0.90 and will be valid for exercise for up to five years after issuance.

The offering was managed exclusively by H.C. Wainwright & Co., which acted as the placement agent. The gross proceeds from this transaction are earmarked predominantly for working capital and various corporate purposes.

Strategic Intentions

Acurx Pharmaceuticals has been making strides in developing a new class of antibiotics specifically targeting Gram-positive bacteria. With a robust research and development pipeline, the company is working on antibiotic candidates designed to tackle notoriously resistant pathogens, including Clostridioides difficile and methicillin-resistant Staphylococcus aureus (MRSA).

The leadership team at Acurx has expressed optimism that the proceeds from this offering will support their ongoing initiatives to advance their lead product candidate, ibezapolstat, which is poised for a Phase 3 clinical trial this year. This treatment aims to effectively combat C. difficile infections, which remain a major health issue in hospital settings.

Regulatory Context

The shares were offered pursuant to an