Acurx Board of Directors Approves Bitcoin as Treasury Reserve Asset
Acurx Pharmaceuticals (NASDAQ: ACXP) announced that its Board of Directors has approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset. The company views this as a strategic move for cash not needed in the next 12-18 months, citing Bitcoin's growing demand, acceptance as a major asset class, and inflation-resistant characteristics. The company emphasized that this financial strategy will not affect their core drug development plans.
Acurx Pharmaceuticals (NASDAQ: ACXP) ha annunciato che il suo Consiglio di Amministrazione ha approvato l'acquisto di fino a 1 milione di dollari in Bitcoin come asset di riserva del tesoreria. L'azienda considera questa mossa strategica per i fondi che non saranno necessari nei prossimi 12-18 mesi, citando la crescente domanda di Bitcoin, l'accettazione come una classe di attivo principale e le caratteristiche di resistenza all'inflazione. L'azienda ha sottolineato che questa strategia finanziaria non influenzerà i loro piani di sviluppo dei farmaci principali.
Acurx Pharmaceuticals (NASDAQ: ACXP) anunció que su Junta Directiva ha aprobado la compra de hasta 1 millón de dólares en Bitcoin como un activo de reserva en tesorería. La empresa ve esto como un movimiento estratégico para el efectivo que no se necesitará en los próximos 12-18 meses, citando la creciente demanda de Bitcoin, su aceptación como una clase de activo importante y sus características de resistencia a la inflación. La compañía enfatizó que esta estrategia financiera no afectará sus planes de desarrollo de medicamentos centrales.
Acurx Pharmaceuticals (NASDAQ: ACXP)는 이사회가 100만 달러 상당의 비트코인 구매를 재무 자산으로 승인했다고 발표했습니다. 회사는 향후 12-18개월 동안 필요하지 않은 자금을 위해 전략적 조치로 이것을 보고 있으며, 비트코인의 증가하는 수요, 주요 자산 클래스로의 수용 및 인플레이션 저항 특성을 언급했습니다. 회사는 이 재무 전략이 그들의 핵심 의약품 개발 계획에 영향을 미치지 않을 것이라고 강조했습니다.
Acurx Pharmaceuticals (NASDAQ: ACXP) a annoncé que son conseil d'administration a approuvé l'achat de jusqu'à 1 million de dollars en Bitcoin en tant qu'actif de réserve de trésorerie. L'entreprise considère cela comme un mouvement stratégique pour les liquidités qui ne seront pas nécessaires dans les 12 à 18 mois à venir, citant la demande croissante pour le Bitcoin, son acceptation en tant que classe d'actifs majeure et ses caractéristiques résistantes à l'inflation. L'entreprise a souligné que cette stratégie financière n'affectera pas ses plans de développement de médicaments fondamentaux.
Acurx Pharmaceuticals (NASDAQ: ACXP) gab bekannt, dass der Vorstand den Kauf von bis zu 1 Million Dollar in Bitcoin als Reservevermögen genehmigt hat. Das Unternehmen betrachtet dies als strategischen Schritt für Barmittel, die in den nächsten 12-18 Monaten nicht benötigt werden, und verweist auf die wachsende Nachfrage nach Bitcoin, die Akzeptanz als bedeutende Anlageklasse und die inflationsresistenten Eigenschaften. Das Unternehmen betonte, dass diese Finanzstrategie ihre Kernpläne zur Arzneimittelentwicklung nicht beeinträchtigen wird.
- Strategic diversification of treasury assets with up to $1 million Bitcoin allocation
- Company has sufficient cash reserves to maintain operations for 12-18 months
- Exposure to cryptocurrency market volatility risks
- Allocation of company funds to highly speculative assets
"As demand for Bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset for cash not needed over the next 12 to 18 months" said David P. Luci, President & CEO of Acurx. "With the recent approval of Bitcoin ETFs and the growing support from government agencies and institutional investors, it is a great addition to our treasury strategy. Its limited supply and inflation-resistant characteristics provide a functional store of value. This new treasury strategy is a finance strategy and has no impact on our overarching drug development plans."
About Acurx Pharmaceuticals, Inc.
Acurx Pharmaceuticals is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. The Company's approach is to develop antibiotic candidates with a Gram-positive selective spectrum (GPSS®) that blocks the active site of the Gram+ specific bacterial enzyme DNA polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. 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 www.acurxpharma.com.
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: risks inherent with investing in Bitcoin, including Bitcoin's volatility; the risks of implementing a new treasury strategy; 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, 2023, 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 & Chief Executive Officer
Tel: 917-533-1469
Email: davidluci@acurxpharma.com
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SOURCE Acurx Pharmaceuticals, Inc.
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