Acurx Pharmaceuticals, Inc. Q2 FY2025 earnings call

• In April, the Indian Patent Office granted a new patent for DNA polymerase IIIC inhibitors related to the preclinical antibiotic development program of ACX-375C. • In May, the company closed an equity line of credit with Lincoln Park Capital for up to $12 million in additional funding. • In June, the company completed a warrant inducement agreement, generating approximately $2.7 million in gross proceeds with net proceeds of $2.5 million after fees. • In June, the company published Phase IIb clinical trial data for ibezapolstat in Lancet Microbe, highlighting high clinical cure rates and safety. • In August, the company implemented a 1-for-20 reverse stock split. • Ibezapolstat has FDA QIDP and Fast Track designations for treating C. difficile infection, with potential to reduce the annual U.S. cost burden for C. diff infection by approximately $5 billion.

As of June 30, 2025, the company had cash totaling $6.1 million, compared to $3.7 million as of December 31, 2024. During the second quarter, the company raised approximately $3.4 million in gross proceeds through equity line of credit and warrant inducement. Research and development expenses for the three months ended June 30, 2025, were $0.5 million, down from $1.8 million in the same period of 2024. General and administrative expenses for the same period were $1.7 million, compared to $2.3 million in 2024. The net loss for the three months ended June 30, 2025, was $2.2 million or $1.89 per diluted share, improving from a net loss of $4.1 million in the same period of 2024.

• The company will continue to raise capital through customary financings, warrant inducements, and public-private partnership opportunities. • Cash burn is expected to remain low, around $400,000 per month. • The company plans to announce details of a new small clinical trial in the near future after Board of Directors approval.

• Forward-looking statements are subject to change and involve risks and uncertainties. • Actual results may differ materially from forward-looking statements. • Investors should refer to SEC filings for detailed risk information.

Q: Looking at the OpEx coming down, is this a trend we should expect to continue through the rest of 2025 and into 2026?

A: Absolutely. We're trimming expenses significantly. Cash burn is down to close to $400,000 a month and we expect to continue this trend. There will be a small clinical trial announcement next quarter after Board approval.

Q: Any feedback from the physician or KOL community on the IIb data publication and are there rate-limiting steps ahead of Phase III studies?

A: Feedback from the physician and KOL community on the IIb data publication has been positive. The only rate-limiting step is the fill/finish of ibezapolstat supply for Phase III trials, which is a couple of months process.