Acurx Pharmaceuticals Approves Reverse Stock Split to Regain Nasdaq Compliance

Acurx Pharmaceuticals has approved a 1-for-20 reverse stock split to regain Nasdaq compliance. Trading will begin on August 5 with a new CUSIP number. The move aims to boost the share price, which currently trades at $0.326. The split will reduce outstanding shares from 30.76 million to 1.54 million, with shareholders receiving cash for fractional shares.

Acurx Pharmaceuticals (ACXP) has approved a 1-for-20 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. The reverse stock split, which will take effect on August 4, 2025, aims to boost the share price and is expected to significantly reduce the number of outstanding shares. Trading will begin on August 5 under a new CUSIP number, while maintaining the current ticker symbol 'ACXP'.

The reverse stock split will convert every 20 current shares into 1 share, reducing the number of outstanding shares from approximately 30.76 million to about 1.54 million. Shareholders will not receive fractional shares; instead, they will receive a cash payment based on the August 1 adjusted closing price. The move is intended to meet Nasdaq's minimum bid price requirement and ensure continued listing on the Nasdaq Capital Market.

The reverse stock split was approved by stockholders at the July 17 annual meeting and ratified by the board. It will legally take effect at 4:01 p.m. Eastern Time on August 4, 2025. The company's common stock will open for trading on August 5 under a new CUSIP number, 00510M 203. Proportional adjustments will also be made to the exercise and conversion prices of the company's outstanding stock options and warrants, and to the number of shares issued and issuable under the company's stock incentive plans.

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 research and development pipeline includes antibiotic candidates targeting Gram-positive bacteria, such as Clostridioides difficile and methicillin-resistant Staphylococcus aureus (MRSA). The company's lead product candidate, ibezapolstat, is Phase 3 ready, with plans to begin international clinical trials next year.

The reverse stock split is a strategic move to improve the company's financial health and ensure compliance with Nasdaq's listing requirements. It is important for investors to consider the potential impact of the reverse stock split on the company's share price and trading volume. The company has not provided any specific financial projections related to the reverse stock split, but investors should closely monitor the company's financial performance and regulatory progress.

References:
[1] https://www.nasdaq.com/articles/acurx-approves-1-20-reverse-stock-split-regain-nasdaq-compliance
[2] https://www.morningstar.com/news/pr-newswire/20250731ny41814/acurx-pharmaceuticals-inc-announces-reverse-stock-split
[3] https://www.tipranks.com/news/company-announcements/acurx-pharmaceuticals-announces-reverse-stock-split