Acurx Pharmaceuticals Q4 net loss narrows on lower R&D spend

Overview

• US biopharmaceutical firm's Q4 net loss narrowed as R&D and G&A expenses declined

• Company ended Q4 with $7.6 mln cash, up from $3.7 mln a year earlier

Outlook

• Company preparing to advance ibezapolstat to international Phase 3 pivotal trials for CDI

Result Drivers

• LOWER R&D EXPENSES - Q4 R&D expenses fell due to reduced manufacturing and consulting costs, mainly as prior year included higher trial-related expenses

• LOWER G&A EXPENSES - Q4 G&A expenses decreased mainly due to lower compensation-related costs and professional fees

Company press release: ID:nPn15S9jPa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Acurx Pharmaceuticals Inc is $25.50, about 409% above its March 12 closing price of $5.01

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