Buy Rating Affirmed for Acurx Pharmaceuticals Amid Promising CDI Drug Candidate Progress and Solid Financials

Ed Arce, an analyst from H.C. Wainwright, maintained the Buy rating on Acurx Pharmaceuticals (ACXP – Research Report). The associated price target remains the same with $12.00.

Ed Arce has given his Buy rating due to a combination of factors including the positive progress of Acurx Pharmaceuticals’ drug candidate, ibezapolstat. This drug has completed two Phase 2 trials with high clinical cure rates for C. difficile Infection (CDI), indicating not only effectiveness but also a favorable comparison to the current standard of care, vancomycin. Arce’s optimism is further bolstered by the recent End of Phase 2 meeting with the FDA, which laid the groundwork for Phase 3 trials, including agreement on crucial aspects such as patient population and primary endpoints.
Additionally, the international regulatory strategy to seek guidance in the EU, the UK, Japan, and Canada for the Phase 3 program showcases the company’s ambition for broad market penetration. The financial stability of Acurx, marked by a solid cash position and the ongoing discussions for partnerships that could support the pivotal Phase 3 program and potential commercialization of ibezapolstat, also contribute to the favorable rating. Arce’s confidence is reflective of the company’s clear path to an important milestone and the drug’s promising potential in a market that is in need of effective CDI treatments.

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Acurx Pharmaceuticals (ACXP) Company Description:

Acurx Pharmaceuticals Inc is a clinical stage biopharmaceutical company developing a new class of antibiotics for infections caused by bacteria listed as priority pathogens by the World Health Organization, Centers for Disease Control and Prevention, and Food and Drug Administration.