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Acurx Pharmaceuticals Inc. (ACXP-7.72%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's focus on developing a new class of antibiotics targeting Gram-positive bacteria, including Clostridioides difficile, MRSA, and VRE. The lead product candidate, ibezapolstat, is in late-stage development.
The company reported a net loss of $14.1 million for the year ended December 31, 2024, compared to a net loss of $14.6 million in 2023. Research and development expenses decreased to $5.4 million from $6.0 million, while general and administrative expenses slightly increased to $8.7 million from $8.5 million.
Acurx highlighted the completion of its Phase 2b clinical trial for ibezapolstat, with a reported clinical cure rate of 96% in patients with C. difficile infections. The company anticipates advancing to Phase 3 trials following regulatory guidance.
The filing notes the company's reliance on third-party manufacturers for the production of its product candidates and outlines potential risks related to manufacturing and regulatory compliance.
Acurx emphasizes its strategy to potentially partner with a fully-integrated pharmaceutical company for late-stage clinical trials and commercialization of its antibiotic candidates.
The company acknowledges various risks, including the need for additional funding, potential delays in clinical trials, and competition from other pharmaceutical companies.
Acurx's management includes co-founders David P. Luci as President and CEO, and Robert J. DeLuccia as Executive Chairman, both of whom have extensive experience in the pharmaceutical industry.
The company also reported on its recent financing activities, including a registered direct offering and an at-the-market offering, raising net proceeds to support ongoing operations and development programs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Acurx Pharmaceuticals Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.