The following is a summary of the Acurx Pharmaceuticals, Inc. (ACXP) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Acurx Pharmaceuticals ended Q1 2024 with a cash balance of $8.9 million, up from $7.5 million at end of December 2023.

• The ATM Financing Program generated gross proceeds of approximately $4.4 million through an additional sale of 1,121,793 shares.

• Research and Development (R&D) expenses for the quarter totaled $1.6 million, increasing from $1 million from the same period last year due to a rise in manufacturing related costs.

• General and administrative expenses were at $2.8 million, compared to $1.9 million for Q1 2023, largely due to a $0.7 million increase in professional fees and a $0.2 million increase in non-cash share-based compensation.

• Q1 2024 saw a net loss of $4.4 million, or $0.28 per diluted share, an increase from a net loss of $2.9 million, or $0.25 per diluted share from the prior year period.

Business Progress:

• Acurx Pharmaceuticals shared positive comparative microbiology and microbiome data for ibezapolstat, their premier antibiotic candidate, indicating its superiority to the standard treatment, vancomycin.

• After securing robust preclinical, clinical, and manufacturing data, the company has been approved by the FDA to proceed to Phase 3 trials and follow the regulatory pathway for a new drug application filing for marketing approval in the U.S.

• The company also received approval from the European Medicines Agency for their SME recognition application in Europe.

• Planning for two Phase 3 trials is set to begin in Q4 2024, with estimated total enrollments of 900 Modified Intent-to-Treat (MITT) patients.

• A strategic transaction, possibly including a partnership for further development and potential commercialization of ibezapolstat, is being actively sought by the company.

• The continuation of a blinded trial and discussions on the PASTEUR Act, which if approved, could unlock additional funding for late-stage clinical trials, are notable undertakings by the company.

More details: Acurx Pharmaceuticals IR

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