Overview

• US biopharmaceutical developer's Q1 net loss narrowed yr/yr, EPS at -0.62

• R&D and G&A expenses declined in Q1 due to lower manufacturing and legal costs

• Company raised $3.1 mln in Q1 and closed direct offering to fund clinical trials

Outlook

• Company says cash resources are sufficient to fund exploratory clinical trial in recurrent CDI

• Acurx plans to advance ibezapolstat to Phase 3 international trials for acute CDI, subject to financing

• Company awaits FDA clarification on one-trial approval standard, which may affect clinical development plans

Result Drivers

• LOWER OPERATING COSTS - Decrease in R&D and G&A expenses due to reduced manufacturing, consulting, and legal costs

• ADDITIONAL FUNDING - Company raised $3.1 mln in Q1 and closed a direct offering to support clinical trials

Company press release: ID:nPn8sqH9ka

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		-$0.62

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"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Acurx Pharmaceuticals Inc is $20.50, about 840.4% above its May 11 closing price of $2.18

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