24/7 Market News Snapshot 06 January, 2025 – Acurx Pharmaceuticals, Inc. Common Stock (NASDAQ:ACXP)

January 6, 2025

DENVER, Colo., 06 January, 2025 (247marketnews.com) – (NASDAQ:ACXP) are discussed in this article.
Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) has recently demonstrated a positive shift in its market performance, with shares opening at $0.93 and reflecting a 5.63% increase, currently trading at $0.94. This rise signifies robust investor interest, evidenced by a substantial trading volume of 1.23 million shares. The upward trend suggests a favorable sentiment surrounding the company’s promising pipeline and future prospects, particularly as it endeavors to maintain momentum above critical support levels.

In addition to its stock performance, Acurx has announced a strategic initiative aimed at enhancing its financial foundation and advancing its antibiotic development programs. The company has finalized a definitive agreement for a registered direct offering expected to generate approximately $2.5 million in gross proceeds. This offering involves the sale of 2,463,058 shares of common stock priced at $1.015 per share, alongside unregistered warrants allowing for the purchase of an equivalent number of shares at an exercise price of $0.90, set to expire five years from issuance.

The closing of this offering is anticipated around January 7, 2025, subject to the completion of customary conditions, with H.C. Wainwright & Co. acting as the exclusive placement agent. The proceeds will be allocated for working capital and general corporate purposes, emphasizing Acurx’s commitment to supporting its operations as it advances its cutting-edge research.

Acurx is focused on developing a novel class of antibiotics targeting difficult-to-treat bacterial infections, with its lead candidate, ibezapolstat, approaching Phase 3 clinical readiness to tackle Clostridioides difficile infections. The company is set to initiate international clinical trials later this year, aligning its research efforts with its mission to combat antimicrobial resistance and transform treatment options in the pharmaceutical landscape.

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