James J. Donohue, a director at Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP), recently acquired shares in the company, according to a recent SEC filing. On January 6, 2025, Donohue purchased 9,852 shares of common stock at a price of $1.015 per share, totaling approximately $9,999. This transaction was part of a registered direct offering by the company. The purchase comes as the stock has seen significant pressure, down over 80% in the past year according to InvestingPro data, with shares currently trading at $0.75.
In addition to the common stock purchase, Donohue also acquired warrants for an equal number of shares in a concurrent private placement. These warrants have an exercise price of $0.90 and are set to expire on January 7, 2030.
Following these transactions, Donohue holds a total of 22,352 shares of Acurx Pharmaceuticals' common stock.
In other recent news, Acurx Pharmaceuticals has been making significant strides in its clinical trials, particularly for ibezapolstat, a promising treatment for C. difficile infection. The company reported a net loss of $2.8 million for the third quarter of 2024, with cash reserves of $5.8 million. As part of its treasury strategy, Acurx has approved the purchase of up to $1 million in Bitcoin.
The company also secured a new patent for ibezapolstat, extending its protection until June 2042. Plans are underway for Acurx to begin regulatory discussions with the European Medicines Agency in late 2024 or early 2025. The company is also advancing a stool sample-based diagnostic tool for predicting C. difficile reinfection risk.
In terms of future trials, Acurx is preparing for Phase III trials for ibezapolstat, which are planned to include 150 sites and 900 patients. These are the recent developments in the company's ongoing efforts to bring novel treatments for infectious diseases to the market.
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