David P. Luci, the President and CEO of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP), recently acquired 49,261 shares of common stock in a transaction valued at approximately $49,999. The shares were purchased at a price of $1.015 each as part of a registered direct offering by the company, representing a significant premium to the current trading price of $0.75. According to InvestingPro data, this insider purchase comes as the stock has declined over 80% in the past year. Additionally, Luci acquired warrants for the same number of shares through a concurrent private placement, although these warrants were acquired at no cost.
Following these transactions, Luci now directly owns 1,097,458 shares of Acurx Pharmaceuticals, a significant portion of this $12.4 million market cap company. This move indicates a significant increase in his holdings, underscoring his commitment to the company’s future. The transactions, executed on January 6, 2025, reflect Luci’s ongoing involvement and investment in Acurx Pharmaceuticals, a company focused on developing treatments for antibiotic-resistant bacterial infections. Analysts maintain a positive outlook, with price targets ranging from $10 to $12 per share. For comprehensive insider trading analysis and additional insights, access the detailed Pro Research Report available on InvestingPro.
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 has received positive feedback from the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA), indicating readiness for Phase 3 trials of ibezapolstat. Acurx also 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, the company approved the purchase of up to $1 million in Bitcoin. A new patent for ibezapolstat was secured, extending its protection until June 2042. Acurx is also advancing a stool sample-based diagnostic tool for predicting C. difficile reinfection risk. 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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