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Acurx Pharmaceuticals LLC (ACXP) stock has reached a new 52-week low, trading at $0.67, as the company faces a challenging market environment. According to InvestingPro analysis, the stock is currently undervalued, though the company maintains a favorable cash position with more debt than cash on its balance sheet. This latest price point marks a significant downturn for the pharmaceutical firm, which has seen its stock value plummet by 75.68% over the past year. Investors have been cautious, reflecting broader concerns in the biotech sector, where volatility and regulatory hurdles can heavily impact market performance. The stock’s beta of -1.72 indicates it often moves contrary to broader market trends. ACXP’s struggle to maintain its share price amidst these headwinds has become a focal point for those monitoring the industry’s financial health. With analysts projecting continued losses this year and a current ratio of 1.8, detailed analysis and additional insights are available through InvestingPro’s comprehensive research reports, which cover over 1,400 US stocks.
In other recent news, Acurx Pharmaceuticals has been granted a Japanese patent for its DNA Polymerase IIIC Inhibitors, which are crucial to its ACX-375C program targeting Gram-positive bacterial infections. This patent complements the company’s existing patents in the United States and Israel, as part of Acurx’s strategy to build a global patent portfolio. Acurx’s lead antibiotic candidate, ibezapolstat, has received positive feedback from both the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA), allowing it to progress into Phase 3 trials for Clostridioides difficile Infection (CDI). The Phase 3 trials will compare ibezapolstat to vancomycin, focusing on clinical cure rates and reducing CDI recurrence.
Phase 2 trials demonstrated a 96% clinical cure rate with ibezapolstat, which was well-tolerated by patients. The EMA’s feedback is a significant milestone, aligning with the FDA’s support and providing a roadmap for Acurx’s international Phase 3 program. Additionally, Acurx has allocated up to $1 million for a Bitcoin reserve, citing recent approvals of Bitcoin ETFs and institutional support as factors for this financial strategy. This move is intended as a treasury reserve asset and does not shift the company’s focus from its primary drug development activities.
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