Joining me today is David Luci, President and CEO of Acurx Pharmaceuticals, who will give a corporate update and outlook. In May, we closed an equity line of credit with Lincoln Park Capital for up to $12 million of additional funding. The company will continue its multi-step approach to raising capital through customary financing, warrant inducements, and public-private partnership opportunities going forward.
As we continually record, our ibezapolstat clinical results continue to demonstrate its leadership in the field and a serious and potentially life-threatening infectious disease called Clostridioides difficile infection that the U.S. During the second quarter, the company raised a total of approximately $3.4 million of gross proceeds through purchases under the equity line of credit and a warrant inducement agreement. The decrease was primarily due to a $0.7 million decrease in share-based compensation and a $0.1 million increase in professional fees.
I see that you guys are, you know, preserving cash, operating expenses coming down, nicely in line with your expectations of good capital. What I would say is, when you're seeing things like G&A expenses that we report on these earnings calls, that's a different number than cash flow.
| Metric | Period | Current guidance |
|---|---|---|
| Cash position | As of June 30, 2025 | $6.1M in cash (vs $3.7M at Dec 31, 2024); ~$400K monthly cash burn |
| Equity line of credit (Lincoln Park Capital) | 2025 | Up to $12M facility closed in May 2025 to provide incremental funding |
| Ibezapolstat Phase 3 program (CDI) | Pending funding | Ready to initiate; awaiting a partnership or non-dilutive/public-private funding |
| New small clinical trial | Next quarter update | Evaluating a new, very small clinical trial that can be funded without heavy lifts; details to follow after board review |
| Metric | YoY | Note |
|---|---|---|
| Research & development expense (Q2) | $0.5M (vs $1.8M) | $0.3M lower manufacturing costs and $1.0M lower consulting costs as prior-year trial activity wound down. |
| General & administrative expense (Q2) | $1.7M (vs $2.3M) | $0.7M decrease in share-based compensation, partly offset by higher professional fees. |
| Net loss (Q2) | $2.2M (vs $4.1M) | Lower R&D and G&A spending on tightened operations. |
| Diluted net loss per share (Q2) | $(1.89) (vs $(5.21)) | Smaller loss on a reverse-split-adjusted share count of ~1.47M shares. |
| Cash, equivalents & investments | $6.1M | Bolstered by ~$3.4M of gross proceeds from the ELOC and a June warrant inducement. |
| Topic | Previous mention | Current period | Trend |
|---|---|---|---|
| Cash discipline / burn reduction | Higher trial-period spend | ~$400K/month burn; R&D down to $0.5M/qtr | Down |
| Ibezapolstat clinical validation | Phase 2 data | Published in The Lancet Microbe; FDA/EMA aligned on Phase 3 protocol | Up |
| Path to Phase 3 funding | Seeking capital | Pursuing partnerships and public-private (government) funding | Steady |