Acurx Pharmaceuticals, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 12, 2022 at 04:07 pm EDT
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Acurx Pharmaceuticals, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 2.62 million compared to USD 4 million a year ago. Basic loss per share from continuing operations was USD 0.26 compared to USD 0.57 a year ago. Diluted loss per share from continuing operations was USD 0.26 compared to USD 0.57 a year ago.
For the six months, net loss was USD 5.29 million compared to USD 5.48 million a year ago. Basic loss per share from continuing operations was USD 0.52 compared to USD 0.79 a year ago. Diluted loss per share from continuing operations was USD 0.52 compared to USD 0.79 a year ago.
Acurx Pharmaceuticals, Inc. is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. It develops antibiotic candidates with a Gram-positive selective spectrum (GPSS) that block the active site of the Gram positive specific bacterial enzyme deoxyribonucleic acid (DNA) polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. Its research and development (R&D) pipeline include antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile (C. difficile), methicillin-resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP). Its lead antibiotic candidate, ibezapolstat targets the pol IIIC enzyme. Phase II clinical data validate the efficacy of its lead antibiotic candidate, as well as pol IIIC as an appropriate bacterial target.