#United States #stock offering #Staten Island #Acurx Pharmaceuticals #Antibiotics Development

Acurx Pharmaceuticals Unveils $1.1 Million Registered Direct Offering

Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP), a late-stage biopharmaceutical company, has announced that it will conduct a registered direct offering to raise $1.1 million. This funding will facilitate the company's innovative approach to developing antibiotics tailored for difficult-to-treat bacterial infections.

The Offering Details

On March 7, 2025, Acurx revealed its plan to sell 2,745,000 shares of common stock at a price of $0.40 per share. Moreover, it will offer unregistered short-term warrants for the purchase of an additional 8,235,000 shares. These warrants will also have an exercise price of $0.40 per share and will be executable upon stockholder approval. The expected closing date for the offering is set for March 10, 2025, contingent on the standard closing conditions being satisfied.

H.C. Wainwright & Co. has been designated as the exclusive placement agent for this offering, which is projected to yield approximately $1.1 million in gross proceeds before any fees and expenses incurred as part of the offering process. The funds raised will primarily be allocated towards working capital and other overarching corporate purposes.

Regulatory Compliance

This recent share offering is structured according to a “shelf” registration statement, which allows Acurx to offer shares without having to file a separate registration statement at each instance. The plan follows SEC regulations and comes from a previous filing made on July 1, 2022, with approval secured on July 11, 2022. This is a strategic move that simplifies the process and enhances funding efficiency, ensuring that funds can be raised in a timely manner to support the company's ongoing operational needs.

Acurx's Focus in Antibiotics Research

Acurx is dedicated to combatting bacterial infections with its novel class of antibiotics. The company aims to create selective Gram-positive antibiotics that target the enzyme DNA polymerase IIIC in bacteria, which is fundamental for DNA replication. The primary focus is on pathogens such as Clostridioides difficile, methicillin-resistant Staphylococcus aureus (MRSA), and vancomycin-resistant Enterococcus (VRE), among others.

One of the hallmark programs within Acurx is ibezapolstat, which is on course for Phase 3 clinical trials targeting C. difficile infections. There are additional plans for international trials aimed at expanding the scope of research and application for this promising candidate. Furthermore, Acurx is developing an oral antibiotic to treat Acute Bacterial Skin and Skin Structure Infections (ABSSSI) concurrently with preparations for evaluating its effectiveness against inhaled anthrax.

Conclusion

The introduction of this direct offering exemplifies Acurx Pharmaceuticals' commitment to progressing its antibiotic development initiatives. As bacterial resistance continues to rise globally, innovative solutions are essential to provide effective treatments against resistant strains. Acurx's strategic fundraising efforts are not just about securing capital, but they also underscore the company’s mission to revolutionize the landscape of antibiotic treatment through dedicated research and informed development pathways.