Id Pharma Co., Ltd.

STATEN ISLAND, N.Y., Nov. 14, 2022 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("Acurx" or the "Company"), a clinical stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, announced today certain financial and operational results for the quarter ended September 30, 2022. Highlights of, and certain events subsequent to, the third quarter of 2022 include: Enrollment continues in the Company's ongoing Phase 2b clinical trial of patients with C. difficile Infection (CDI); Due to slower than expected enrollment, the Company has added several clinical trial sites and anticipates that a total of up to 30 clinical trial sites will participate in the Phase 2b clinical trial; The Company has continued its R&D collaboration with Leiden University Medical Center (Holland) to further evaluate the mechanism-of-action of Acurx's inhibitors against the DNA pol IIIC enzyme, which is the bacterial target of our antibiotic product pipeline for the systemic treatment (IV and oral) of other gram-positive bacterial infections. The Company has now completed certain portions of its laboratory study at the University of Houston comparing the killing effect of ibezapolstat to vancomycin, fidaxomicin and metronidazole using both in vitro and ex vivo analyses. Certain results were presented at the Anaerobe Society of America annual scientific conference and results demonstrated that ibezapolstat has favorable killing kinetics compared to vancomycin to treat C. difficile infection at standard and high bacterial concentrations, supporting continued development of this first-in-class antibiotic to treat C. difficile Infection. Scientific presentations of various aspects of ibezapolstat data were presented on behalf of the Company at two recent, prominent scientific conferences as follows: The Antimicrobial Resistance Conference (September 7, 2022); ID Week (October 20, 2022) In July 2022, the Company raised $4.225 million of gross proceeds by consummating a registered direct offering to one U.S. institutional investor and three executives of the Company at $3.25 per share (for the U.S. institutional investor) and $3.80 per share (for the Company's executives who invested $225,000 in total) with a total of 1,159,211 common shares and 130,769 pre-funded warrants issued. Warrants to purchase common stock totaled 2,579,960 with warrant coverage at an exercise price of $3.25 per share for the U.S. institutional investor and $3.55 per share for the Company's executives. Third Quarter 2022 Financial Results The Company ended the third quarter on September 30, 2022, with cash totaling $10.6 million compared to $13.0 million as of December 31, 2021. Research and development expenses for the three months ended September 30, 2022 were $1.6 million compared to $1.1 million for the three months ended September 30, 2021. The increase was due to an increase in Phase 2b trial related costs and an increase in consulting costs primarily related thereto. For the nine months ended September 30, 2022, research and development expenses were $3.3 million versus $1.3 million for the nine months ended September 30, 2021. This increase was due primarily to Phase 2b trial related costs in the current nine-month period and an increase in consulting costs related thereto. General and administrative expenses for the three months ended September 30, 2022 were $2.0 million compared to $3.5 million for the three months ended September 30, 2021. The decrease was primarily due to a decrease in share-based compensation related to the Company's initial public offering and a decrease in legal fees associated with the Company's intellectual property estate. For the nine months ended September 30, 2022, general and administrative expenses were $5.5 million versus $8.9 million for the nine months ended September 30, 2021. The decrease was primarily attributable to a decrease in professional fees and stock-based compensation related to the Company's initial public offering, partially offset by an increase in insurance costs. The Company reported a net loss of $3.5 million or $0.32 per diluted share for the three months ended September 30, 2022 compared to a net loss of $4.6 million or $0.46 per diluted share for the three months ended September 30, 2021, and a net loss of $8.8 million or $0.84 per share for the nine months ended September 30, 2022, compared to a net loss of $10.1 million or $1.27 per diluted share for the nine months ended September 30, 2021 for the reasons previously mentioned. The Company had 11,592,609 shares outstanding as of September 30, 2022. Conference Call As previously announced, David P. Luci, President and Chief Executive Officer, and Robert G. Shawah, Chief Financial Officer, will host a conference call to discuss the results and provide a business update as follows: About Ibezapolstat Ibezapolstat is a novel, orally administered antibiotic being developed as a Gram-Positive Selective Spectrum (GPSS™) antibacterial. It is the first of a new class of DNA polymerase IIIC inhibitors under development by Acurx to treat bacterial infections. Ibezapolstat's unique spectrum of activity, which includes C. difficile but spares other Firmicutes and the important Actinobacteria phyla, appears to contribute to the maintenance of a healthy gut microbiome. The Company successfully completed Phase 1 and Phase 2a clinical trials of ibezapolstat. The Phase 2a trial demonstrated 100% clinical cure and 100% sustained clinical cure in patients with C. difficile Infection (CDI), along with beneficial microbiome changes during treatment including overgrowth of Actinobacteria and Firmicutes phylum species while on therapy and new findings which demonstrate potentially beneficial effects on bile acid metabolism. Acurx is currently enrolling patients in its Phase 2b 64-patient, randomized (1-to-1), non-inferiority, double-blind trial of oral ibezapolstat compared to oral vancomycin, a standard of care to treat CDI. In June 2018, ibezapolstat was designated by the U.S. Food and Drug Administration (FDA) as a Qualified Infectious Disease Product (QIDP) for the treatment of patients with CDI and will be eligible to benefit from the incentives for the development of new antibiotics established under the Generating New Antibiotic Incentives Now (GAIN) Act. In January 2019, FDA granted "Fast Track" designation to ibezapolstat for the treatment of patients with CDI. The CDC has designated C. difficile as an urgent threat highlighting the need for new antibiotics to treat CDI. About Acurx Pharmaceuticals, Inc. Acurx Pharmaceuticals is a clinical stage biopharmaceutical company focused on developing new antibiotics for difficult to treat infections. The Company's approach is to develop antibiotic candidates that target the DNA polymerase IIIC enzyme and its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillin-resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP). To learn more about Acurx Pharmaceuticals and its product pipeline, please visit . Forward-Looking Statements Any statements in this press release about our future expectations, plans and prospects, including statements regarding our strategy, future operations, prospects, plans and objectives, and other statements containing the words "believes," "anticipates," "plans," "expects," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether ibezapolstat will benefit from the QIDP designation; whether ibezapolstat will advance through the clinical trial process on a timely basis; whether the results of the clinical trials of ibezapolstat will warrant the submission of applications for marketing approval, and if so, whether ibezapolstat will receive approval from the FDA or equivalent foreign regulatory agencies where approval is sought; whether, if ibezapolstat obtains approval, it will be successfully distributed and marketed; and other risks and uncertainties described in the Company's annual report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2021, and in the Company's subsequent filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release, and Acurx disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law. Investor Contact: Acurx Pharmaceuticals, Inc. David P. Luci, President & CEO Tel: 917-533-1469 Email: [email protected] SOURCE Acurx Pharmaceuticals, Inc.

TORONTO--( BUSINESS WIRE )--LifeWorks has released the results of its Performance Universe of Pension Managers’ Pooled Funds for the third quarter of 2022. According to the report, in the third quarter of 2022, diversified pooled fund managers posted a median return of negative 0.1 per cent before management fees. “ The markets continued to decline in the third quarter of 2022. The Canadian S&P/TSX Composite Index was down 1.4 per cent for the quarter, while the MSCI World Index delivered a negative 0.1 per cent return (in Canadian dollars) and the U.S. S&P 500 Index increased by 0.2 per cent (in Canadian dollars). The emerging markets index also declined 5.6 per cent (in Canadian dollars). For fixed income, the Canadian bond market rose by 0.5 per cent,” said Jean Bergeron, a Partner in the LifeWorks Investment and Risk Consulting team. “ Due to the rise in interest rates used to calculate the solvency liability, the financial position of pension funds improved somewhat during the third quarter. We estimate that the solvency ratio of a typical pension plan has increased by around 0.6 per cent over the third quarter of 2022. Since the beginning of the year the solvency ratio of a typical pension plan has increased by about 0.1 per cent.” added Bergeron. During the third quarter of 2022, diversified pooled fund managers obtained, on average, returns higher than the benchmark portfolio. The median return was negative 0.1 per cent, which was 0.1 per cent higher than the benchmark portfolio used by many pension funds (with an allocation of 55 per cent to equity and 45 per cent to fixed income). Canadian bonds In the third quarter of 2022, managers obtained a median return of 0.7 per cent on bonds (Universe mandate), which was 0.2 per cent higher than the benchmark index. During the third quarter of 2022, short-term, mid-term and long-term bond indices posted returns of negative 0.3 per cent, 0.8 per cent and 1.5 per cent, respectively. The high-yield bond index posted a return 0.7 per cent, while the real return bond index provided a 0.9 per cent return. Canadian equities In the third quarter of 2022, the median return for Canadian equity managers was negative 1.0 per cent, which was 0.4 per cent higher than the negative 1.4 per cent posted by the S&P/TSX Index. During the third quarter of 2022, the S&P/TSX Small Cap Index dropped 2.5 per cent, whereas the S&P/TSX Completion Index, which represents mid-cap stocks decreased of 0.1 per cent, and the large-cap S&P/TSX 60 Index posted a return negative 1.7 per cent. Foreign equities Foreign equity managers’ median returns and appropriate benchmark index returns for the third quarter of 2022 are as follows: 1.6 per cent for U.S. equities versus 1.2 per cent for the S&P 500 Index (C$); Negative 3.6 per cent for international equities versus negative 3.5 per cent for the MSCI EAFE Index (C$); Negative 0.5 per cent for global equities versus negative 0.1 per cent for the MSCI World Index (C$); and Negative 5.2 per cent for emerging market equities versus negative 5.6 per cent for the MSCI Emerging Markets Index (C$). Alternative investments The Dow Jones Credit Suisse Hedge Fund Index (formerly CSFB/Tremont Hedge Fund Index) posted a return of 6.8 per cent (C$) for the third quarter of 2022 The Performance Universe covers about 295 funds managed by nearly 45 investment management firms. The results of our study are based on the returns provided by leading portfolio managers, ranging from independent investment management firms to insurance companies, trust companies and financial institutions. The returns are calculated before deduction of management fees. The investment and risk consulting team at LifeWorks produces the quarterly Performance Universe results. This team provides independent consulting services on all aspects of asset and liability management of pension funds, endowment funds, and other institutional investment funds. LifeWorks is a wholly owned subsidiary of TELUS now operating as part of TELUS Health as a result of its recent acquisition. About TELUS Health TELUS Health is a global healthcare company serving people in more than 160 countries delivering both digital innovation and clinical services to improve total physical, mental and financial health and wellness across the full spectrum of primary and preventative care. By leveraging the power of technology to deliver connected solutions and services both in-person and virtually, TELUS Health is improving access to care and revolutionizing the flow of information while facilitating collaboration, efficiency, and productivity for physicians, pharmacists, health authorities, allied healthcare professionals, insurers, employers and people globally, progressing its vision of transforming healthcare and empowering people to live healthier lives. Our clinical team is composed of renowned and passionate health professionals around the world delivering best-in-class people-centric care to hundreds of thousands of employers, professionals and their families. For more information, please visit: www.telushealth.com . -30- ID-CORP, ID-CAD, ID-RS Summary Rates of return for periods ending September 30, 2022 (annualized returns beyond one year) Diversified 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile 0.81 -8.33 -9.77 -4.97 7.74 6.27 6.85 6.83 1st quartile 0.47 -9.16 -11.75 -7.07 4.69 4.89 4.86 5.28 Median -0.14 -9.29 -13.52 -8.97 2.09 3.27 3.92 4.45 3rd quartile -0.87 -10.26 -14.98 -10.55 0.46 2.51 3.41 4.00 95th percentile -1.48 -12.41 -17.39 -12.75 -2.01 0.92 1.62 2.82 Benchmark* -0.15 -11.05 -15.26 -11.10 -0.96 1.70 3.46 4.05 Benchmark** -0.25 -11.36 -15.20 -10.96 -0.20 2.18 3.73 4.34 * 45% fixed income,55% equity ** 40% fixed income,60% equity Returns compounded quarterly Money market 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile 0.69 0.97 1.10 1.24 0.93 1.10 1.55 1.55 1st quartile 0.66 0.95 1.05 1.12 0.71 0.93 1.31 1.30 Median 0.65 0.92 0.98 1.00 0.64 0.88 1.18 1.25 3rd quartile 0.55 0.79 0.87 0.94 0.58 0.84 1.14 1.20 95th percentile 0.02 -1.34 -3.63 -4.08 -1.64 0.52 1.03 1.13 Canadian bonds 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile 1.66 -2.92 -6.15 -5.97 0.59 0.94 2.14 2.50 1st quartile 0.92 -4.84 -11.10 -9.98 -5.56 -1.18 1.26 1.41 Median 0.65 -5.21 -11.72 -10.47 -6.47 -1.88 0.96 1.18 3rd quartile 0.46 -5.64 -12.47 -11.20 -6.99 -2.33 0.61 0.89 95th percentile -0.40 -10.27 -20.80 -17.06 -12.32 -5.65 -0.52 0.37 Canadian bonds (Universe mandate) 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile 1.02 -4.65 -8.57 -7.52 -3.01 -0.20 1.52 1.81 1st quartile 0.77 -5.03 -11.42 -10.03 -6.11 -1.72 0.99 1.28 Median 0.68 -5.15 -11.72 -10.47 -6.58 -1.94 0.86 1.10 3rd quartile 0.56 -5.40 -12.24 -10.93 -6.95 -2.09 0.72 0.90 95th percentile -0.15 -5.73 -13.01 -11.57 -7.52 -2.66 0.42 0.71 Rates of return for periods ending September 30, 2022 (annualized returns beyond one year) Canadian equity – Broad* 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile 1.48 -7.41 -3.97 2.78 17.49 9.91 9.99 8.85 1st quartile -0.08 -10.53 -7.45 -0.71 13.03 8.69 8.21 7.65 Median -0.96 -11.76 -9.37 -3.62 11.06 7.28 6.89 6.92 3rd quartile -1.93 -13.03 -11.49 -5.47 9.37 5.37 5.71 6.07 95th percentile -4.33 -14.51 -15.61 -10.55 6.00 4.02 3.80 4.06 S&P/TSX -1.41 -14.41 -11.14 -5.39 10.06 6.59 6.71 6.54 S&P/TSX Capped -1.41 -14.41 -11.14 -5.39 10.06 6.59 6.71 6.54 * Some funds may include up to 30% in foreign content Canadian equity – Specialized 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile 0.50 -14.54 -11.04 -7.15 15.85 14.35 8.81 8.33 1st quartile -2.30 -16.74 -14.50 -10.73 12.92 8.37 6.33 6.82 Median -3.65 -17.72 -22.53 -18.98 4.55 7.93 6.02 6.14 3rd quartile -4.01 -20.25 -25.30 -23.20 2.59 6.17 4.75 4.69 95th percentile -6.18 -24.45 -27.53 -26.10 -0.49 5.59 0.75 0.18 BMO Small Cap weighted -2.55 -21.80 -16.39 -13.60 12.21 8.27 4.81 4.17 S&P/TSX Small Cap -2.48 -22.79 -16.30 -13.76 11.49 6.47 3.03 2.43 U.S. equity 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile 5.60 -4.39 -5.53 -0.35 14.79 12.81 12.58 15.36 1st quartile 2.71 -7.99 -13.92 -5.77 8.57 10.07 9.66 11.97 Median 1.59 -9.88 -16.07 -7.44 7.53 8.47 8.64 10.94 3rd quartile 0.65 -11.40 -18.09 -9.14 4.34 7.18 6.90 9.49 95th percentile 0.11 -16.40 -26.86 -20.41 -1.29 4.77 4.23 7.56 S&P 500 (C$) 1.18 -12.46 -17.69 -9.06 6.26 9.41 8.71 11.31 Rates of return for periods ending September 30, 2022 (annualized returns beyond one year) International equity (Europe and Asia) 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile -0.85 -9.74 -12.49 -10.37 5.23 6.63 4.67 6.09 1st quartile -2.11 -12.73 -18.77 -17.35 -1.33 2.68 1.81 2.88 Median -3.55 -14.49 -21.96 -19.49 -3.01 0.54 0.87 2.13 3rd quartile -4.08 -14.92 -25.00 -22.04 -4.86 -1.68 -0.92 0.55 95th percentile -6.88 -16.47 -25.87 -24.14 -7.34 -3.60 -3.24 -1.57 MSCI EAFE (C$) -3.45 -14.76 -20.69 -18.80 -1.60 -0.61 -0.20 1.05 Global equity (U.S.A., Europe and Asia) 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile 2.17 -8.05 -10.79 -5.07 8.96 9.11 9.25 10.13 1st quartile 0.15 -10.48 -16.28 -10.26 4.86 7.32 6.32 8.35 Median -0.46 -12.13 -17.92 -13.62 3.13 5.07 4.41 5.87 3rd quartile -1.95 -13.19 -22.96 -17.64 1.16 2.82 2.52 4.29 95th percentile -4.11 -15.44 -24.77 -22.61 -2.15 0.89 1.22 2.99 MSCI World (C$) -0.07 -13.50 -18.88 -12.83 3.20 5.86 5.47 7.30 Emerging markets 3-month 6-month 9-month 1-year 2-year 3-year 4-year 5-year 5th percentile -0.02 -8.23 -6.31 -8.04 6.27 4.26 2.98 3.44 1st quartile -4.28 -11.93 -19.26 -17.75 -4.75 0.02 0.85 1.22 Median -5.15 -13.19 -22.96 -23.42 -7.49 -0.91 -0.03 0.41 3rd quartile -5.61 -14.26 -24.18 -26.04 -9.50 -2.13 -0.54 -0.23 95th percentile -6.84 -15.13 -24.98 -27.44 -11.10 -6.75 -4.41 -3.57 MSCI Emerging markets -5.64 -13.60 -20.48 -21.69 -6.15 -0.49 -0.18 0.43 The information herein has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is not guaranteed, nor in providing it does LifeWorks Investment Management Ltd. (“LWIM”) or its affiliates (“LifeWorks”) assume any responsibility or liability. LWIM or LifeWorks is not liable for any errors or omissions in the information or for any loss or damage suffered. Where such statements are based in whole or in part on information provided by third parties, they are not guaranteed to be accurate or complete. The information does not provide individual financial, legal, tax or investment advice and is for information purposes only.

STATEN ISLAND, N.Y., Aug. 15, 2022 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("Acurx" or the "Company"), a clinical stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, announced today certain financial and operational results for the quarter ended June 30, 2022. Highlights of, and certain events subsequent to, the second quarter of 2022 include: Enrollment continues in the Company's ongoing Phase 2b clinical trial of patients with C. difficile Infection (CDI); Due to slower than expected enrollment, the Company has added several clinical trial sites and anticipates up to 30 clinical trial sites will participate in the Phase 2b clinical trial; The Company has continued its R&D collaboration with Leiden University Medical Center (Holland) to further evaluate the mechanism-of-action of Acurx's inhibitors against the DNA pol IIIC enzyme, which is the bacterial target of our antibiotic product pipeline for the systemic treatment (IV and oral) of other gram-positive bacterial infections. The Company has now completed certain portions of its laboratory study at the University of Houston comparing the killing effect of ibezapolstat to vancomycin, fidaxomicin and metronidazole using both in vitro and ex vivo analyses. Certain results were presented at Anaerobe 2022, the Anaerobe Society of America annual scientific conference and results demonstrated that ibezapolstat has favorable killing kinetics compared to vancomycin to treat C. difficile infection at standard and high bacterial concentrations, supporting continued development of a potential first-in-class antibiotic to treat C. difficile Infection. Scientific presentations of various aspects of ibezapolstat data have been accepted at three upcoming prominent scientific conferences later this year, including: The Antimicrobial Resistance Conference (September 7-8, 2022); ID Week (October 19-23, 2022); and C. Diff Foundation Conference (November 3-4, 2022). In July 2022, the Company raised $4.225 million of gross proceeds by consummating a registered direct offering to one U.S. institutional investor and three executives of the Company at $3.25 per share (for the U.S. institutional investor) and $3.80 per share (for the Company's executives) with a total of 1,159,211 common shares and 130,769 pre-funded warrants issued. Warrants to purchase common stock totaled 2,579,960 with warrant coverage at an exercise price of $3.25 per share for the U.S. institutional investor and $3.55 per share for the Company's executives. Second Quarter 2022 Financial Results The Company ended the second quarter on June 30, 2022, with cash totaling $9.1 million compared to $13.1 million as of December 31, 2021. Research and development expenses for the three months ended June 30, 2022 were $0.9 million compared to $0.1 million for the three months ended June 30, 2021. The increase is due to Phase 2b trial related costs and an increase in consulting costs primarily related thereto. For the six months ended June 30, 2022, research and development expenses were $1.7 million versus $0.2 million for the six months ended June 30, 2021. The increase is due primarily to Phase 2b trial related costs and an increase in consulting costs related thereto. General and administrative expenses for the three months ended June 30, 2022 were $1.7 million compared to $3.9 million for the three months ended June 30, 2021. The decrease was primarily due to a decrease in professional fees and share-based compensation related to the Company's initial public offering consummated in June 2021. For the six months ended June 30, 2022, general and administrative expenses were $3.6 million versus $5.4 million for the six months ended June 30, 2021. The decrease is primarily attributable to a decrease in professional fees and stock-based compensation primarily related to the Company's initial public offering, partially offset by an increase in legal and insurance costs. The Company reported a net loss of $2.6 million or $0.26 per diluted share for the three months ended June 30, 2022 compared to a net loss of $4.0 million or $0.57 per diluted share for the three months ended June 30, 2021, and a net loss of $5.3 million or $0.52 per share for the six months ended June 30, 2022, compared to a net loss of $5.5 million or $0.79 per diluted share for the six months ended June 30, 2021 for the reasons previously mentioned. The Company had 10,263,202 shares outstanding as of June 30, 2022. Conference Call As previously announced, David P. Luci, President and Chief Executive Officer, and Robert G. Shawah, Chief Financial Officer, will host a conference call to discuss the results and provide a business update as follows: About Ibezapolstat Ibezapolstat is a novel, orally administered antibiotic being developed as a Gram-Positive Selective Spectrum (GPSS™) antibacterial. It is the first of a new class of DNA polymerase IIIC inhibitors under development by Acurx to treat bacterial infections. Ibezapolstat's unique spectrum of activity, which includes C. difficile but spares other Firmicutes and the important Actinobacteria phyla, appears to contribute to the maintenance of a healthy gut microbiome. The Company successfully completed Phase 1 and Phase 2a clinical trials of ibezapolstat. The Phase 2a trial demonstrated 100% clinical cure and 100% sustained clinical cure in patients with C. difficile Infection (CDI), along with beneficial microbiome changes during treatment including overgrowth of Actinobacteria and Firmicutes phylum species while on therapy and new findings which demonstrate potentially beneficial effects on bile acid metabolism. Acurx is currently enrolling patients in its Phase 2b 64-patient, randomized (1-to-1), non-inferiority, double-blind trial of oral ibezapolstat compared to oral vancomycin, a standard of care to treat CDI. In June 2018, ibezapolstat was designated by the U.S. Food and Drug Administration (FDA) as a Qualified Infectious Disease Product (QIDP) for the treatment of patients with CDI and will be eligible to benefit from the incentives for the development of new antibiotics established under the Generating New Antibiotic Incentives Now (GAIN) Act. In January 2019, FDA granted "Fast Track" designation to ibezapolstat for the treatment of patients with CDI. The CDC has designated C. difficile as an urgent threat highlighting the need for new antibiotics to treat CDI. About Acurx Pharmaceuticals, Inc. Acurx Pharmaceuticals is a clinical stage biopharmaceutical company focused on developing new antibiotics for difficult to treat infections. The Company's approach is to develop antibiotic candidates that target the DNA polymerase IIIC enzyme and its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillin-resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP). To learn more about Acurx Pharmaceuticals and its product pipeline, please visit . Forward-Looking Statements Any statements in this press release about our future expectations, plans and prospects, including statements regarding our strategy, future operations, prospects, plans and objectives, and other statements containing the words "believes," "anticipates," "plans," "expects," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether ibezapolstat will benefit from the QIDP designation; whether ibezapolstat will advance through the clinical trial process on a timely basis; whether the results of the clinical trials of ibezapolstat will warrant the submission of applications for marketing approval, and if so, whether ibezapolstat will receive approval from the FDA or equivalent foreign regulatory agencies where approval is sought; whether, if ibezapolstat obtains approval, it will be successfully distributed and marketed; and other risks and uncertainties described in the Company's annual report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2021, and in the Company's subsequent filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release, and Acurx disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law. Investor Contact: Acurx Pharmaceuticals, Inc. David P. Luci, President & CEO Tel: 917-533-1469 Email: [email protected] SOURCE Acurx Pharmaceuticals, Inc.