Acurx Pharmaceuticals to Join the Russell Microcap Index®

Rhea-AI Summary

Acurx Pharmaceuticals (NASDAQ: ACXP) announced its upcoming inclusion in the Russell Microcap Index effective September 20, 2021. This inclusion is based on market-capitalization rankings and style attributes, lasting for one year. The company aims to develop a new class of antibiotics, with its lead candidate, ibezapolstat, targeting C. difficile infections. CEO David P. Luci highlighted that this recognition enhances the company's visibility among investors and reflects progress in their drug development objectives.

Positive

• Inclusion in the Russell Microcap Index enhances visibility, potentially attracting more investors.
• Represents a significant achievement in the development of a new class of antibiotics.
• Ongoing clinical development of ibezapolstat targets a critical healthcare issue.

Negative

• None.

STATEN ISLAND, N.Y., Sept. 2, 2021 /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 that the Company is set to join the Russell Microcap^® Index when the market opens on September 20, 2021, according to a preliminary list of additions posted on September 1, 2021.  

Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

"Inclusion in the Russell Microcap Index reflects the ongoing achievement of our previously stated drug development objectives for our pipeline of DNA polymerase IIIC inhibitors, and the fact that, if approved, we would bring to market the first of a new class of antibiotics in over 30 years," said David P. Luci, President and CEO of Acurx. "Inclusion in the Index benefits our Company and stockholders by elevating our visibility within the global investment community. We look forward to continuing our progress towards completing the clinical development program for ibezapolstat, our lead antibiotic candidate targeting the treatment of C. difficile Infection and delivering on several key milestone catalysts through 2021 and 2022," concluded Luci.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

About FTSE Russell

FTSE Russell is a global index leader that provides innovative benchmarking, analytics, and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.  A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles.

FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information on the Russell Microcap® Index and the Russell indexes reconstitution, please visit www.ftserussell.com.

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 www.acurxpharma.com. 

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 United States Food and Drug Administration or equivalent foreign regulatory agencies where approval is sought; whether, if ibezapolstat obtains approval, it will be successfully distributed and marketed; and other factors. In addition, the forward-looking statements included in this press release represent our views as of August 30, 2021.   We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward- looking statements at some point in the future, we specifically disclaim any obligation to do so.

Investor Contact:

Acurx Pharmaceuticals, Inc.
David P. Luci, President & CEO
Tel:  917-533-1469
Email:  davidluci@acurxpharma.com

View original content:https://www.prnewswire.com/news-releases/acurx-pharmaceuticals-to-join-the-russell-microcap-index-301368326.html

SOURCE Acurx Pharmaceuticals, Inc.

FAQ

When will Acurx Pharmaceuticals join the Russell Microcap Index?

Acurx Pharmaceuticals is set to join the Russell Microcap Index on September 20, 2021.

What is the significance of joining the Russell Microcap Index for ACXP?

Joining the Russell Microcap Index enhances Acurx's visibility within the investment community, which can attract more institutional investors.

What is Acurx Pharmaceuticals' lead antibiotic candidate?

Acurx's lead antibiotic candidate is ibezapolstat, which targets the treatment of C. difficile infections.

How does inclusion in the Russell Index affect Acurx's stockholders?

The inclusion in the Russell Index is expected to benefit Acurx's stockholders by increasing the company's visibility and potentially enhancing stock performance.

What does the Russell Microcap Index represent?

The Russell Microcap Index represents small-cap stocks and is used as a benchmark for performance by many investment managers.