STATEN
ISLAND, N.Y., Nov. 20,
2024 /PRNewswire/ -- Acurx Pharmaceuticals, Inc.
(NASDAQ: ACXP) ("we" or "Acurx" or the "Company"), a
late-stage biopharmaceutical company developing a new class of
antibiotics for difficult-to-treat bacterial infections, announced
today that the Company's Board of Directors approved the purchase
of up to $1 million in
Bitcoin to hold as a treasury reserve asset.
"As demand for Bitcoin grows, and so does its
acceptance as a major and primary asset class, we believe that
Bitcoin will serve as a strong treasury reserve asset
for cash not needed over the next 12 to 18 months" said
David P. Luci, President & CEO
of Acurx. "With the recent approval of Bitcoin ETFs
and the growing support from government agencies and institutional
investors, it is a great addition to our treasury strategy. Its
limited supply and inflation-resistant characteristics provide a
functional store of value. This new treasury strategy is a finance
strategy and has no impact on our overarching drug development
plans."
About Acurx Pharmaceuticals, Inc.
Acurx Pharmaceuticals is a late-stage biopharmaceutical company focused
on developing a new class of small molecule antibiotics
for difficult-to-treat bacterial infections. The Company's approach
is to develop antibiotic candidates with a Gram-positive selective
spectrum (GPSS®) that blocks the active site of the Gram+ specific
bacterial enzyme DNA polymerase IIIC (pol IIIC), inhibiting DNA
replication and leading to Gram-positive bacterial cell death. Its
R&D pipeline includes antibiotic product candidates that target
Gram-positive bacteria, including Clostridioides difficile,
methicillin-resistant Staphylococcus aureus (MRSA), vancomycin
resistant Enterococcus (VRE) and drug-resistant Streptococcus
pneumoniae (DRSP).
To learn more about Acurx Pharmaceuticals and its product
pipeline, please visit www.acurxpharma.com.
Forward-Looking Statements
Any statements in this press release about our future
expectations, plans and prospects, including statements regarding
our strategy, future operations, prospects, plans and objectives,
and other statements containing the words "believes,"
"anticipates," "plans," "expects," and similar
expressions, constitute forward-looking statements within the meaning
of The Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, including: risks inherent with investing in
Bitcoin, including Bitcoin's volatility;
the risks of implementing a new treasury strategy; whether
ibezapolstat will benefit from the QIDP designation; whether
ibezapolstat will advance through the clinical trial process on a
timely basis; whether the results of the clinical trials of
ibezapolstat will warrant the submission of applications for
marketing approval, and if so, whether ibezapolstat will receive
approval from the FDA or equivalent foreign regulatory agencies
where approval is sought; whether, if ibezapolstat obtains
approval, it will be successfully distributed and marketed; and
other risks and uncertainties described in the Company's annual
report filed with the Securities and Exchange Commission on Form
10-K for the year ended December 31,
2023, and in the Company's subsequent filings
with the Securities and Exchange Commission. Such forward-looking
statements speak only as of the date of this press release, and
Acurx disclaims any intent or obligation to update these
forward-looking statements to reflect events or circumstances after
the date of such statements, except as may be required by law.
Investor Contact:
Acurx Pharmaceuticals, Inc.
David P. Luci, President & Chief
Executive Officer
Tel: 917-533-1469
Email: davidluci@acurxpharma.com
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SOURCE Acurx Pharmaceuticals, Inc.