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
View original
content:https://www.prnewswire.co.uk/news-releases/acurx-board-of-directors-approves-bitcoin-as-treasury-reserve-asset-302310676.html