Acurx Pharmaceuticals, Inc. Announces Reverse Stock Split

Rhea-AI Summary

Acurx Pharmaceuticals (NASDAQ: ACXP) has announced a 1-for-20 reverse stock split effective August 4, 2025, at 4:01 p.m. ET. The company's stock will begin trading on a split-adjusted basis on August 5, 2025, under the same ticker "ACXP" but with a new CUSIP number (00510M 203).

The reverse split will reduce outstanding shares from approximately 30.7 million to 1.5 million. The move aims to increase the per-share trading price to regain compliance with Nasdaq's minimum bid price requirement. Stockholders will receive cash payments for fractional shares based on the closing price on August 1, 2025.

Proportional adjustments will be made to stock options, warrants, and shares under incentive plans. Most shareholders won't need to take action, as positions will be automatically adjusted through their brokers.

Positive

• Potential to regain Nasdaq listing compliance through higher share price
• No action required from most shareholders for the transition

Negative

• Significant share consolidation indicates potential listing compliance issues
• Total authorized shares remain unchanged, maintaining potential for future dilution

Insights

Financial Restructuring Specialist

Acurx's 1-for-20 reverse split aims to boost share price for Nasdaq compliance, reducing 30.7M shares to 1.5M while maintaining listing status.

Acurx Pharmaceuticals (ACXP) has announced a 1-for-20 reverse stock split that will take effect on August 4, 2025, with split-adjusted trading beginning August 5. This is a defensive financial maneuver clearly designed to address Nasdaq compliance issues rather than reflecting operational improvements.

The primary motivation behind this action is to increase the company's per-share trading price to meet Nasdaq Capital Market's minimum bid price requirement, suggesting ACXP's stock has been trading below the critical $1 threshold. This move is purely technical and doesn't change the company's underlying market capitalization or fundamental value.

The mechanics involve converting every 20 existing shares into 1 new share, reducing outstanding shares from approximately 30.76 million to 1.54 million. Stockholders won't need to take action for book-entry holdings, though physical certificate holders will receive instructions from the transfer agent. Fractional shares will be paid out in cash based on the pre-split closing price on August 1.

While reverse splits themselves aren't inherently negative, they typically signal financial distress and rarely address underlying business challenges. For ACXP, a late-stage biopharmaceutical company developing antibiotics for difficult-to-treat infections, maintaining Nasdaq listing provides essential market visibility and liquidity access while they progress their clinical pipeline.

Acurx's common stock is expected to begin trading on a post-split adjusted basis on August 5, 2025

STATEN ISLAND, N.Y., July 31, 2025 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("Acurx" or the "Company"), a late-stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, today announced that the board of directors of the Company approved a 1-for-20 reverse stock split (the "Reverse Split") of the Company's common stock. The Reverse Split was approved by the stockholders at the Company's annual meeting of the stockholders held on July 17, 2025. The Reverse Split will legally take effect at 4:01 p.m. Eastern Time, on August 4, 2025. The Company's common stock will open for trading under a new CUSIP number 00510M 203 on The Nasdaq Capital Market on August 5, 2025, on a split-adjusted basis under the current ticker symbol "ACXP." The Reverse Split is intended to increase the per share trading price of the Company's common stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.

The 1-for-20 Reverse Split will automatically convert every twenty (20) current shares of the Company's common stock into one (1) share of common stock. No fractional shares will be issued in connection with the Reverse Split. Stockholders who would otherwise hold a fractional share of the Company's common stock following the Reverse Split will receive a cash payment in lieu thereof equal to the fractional share to which the stockholder would otherwise be entitled multiplied by the closing sales price of a share of the Company's common stock on The Nasdaq Capital Market, as adjusted for the Reverse Split, on the trading day immediately prior to the effective date of the Reverse Split, August 1, 2025.

The Reverse Split will reduce the number of shares of outstanding common stock from approximately 30,764,540 shares, the number of shares outstanding as of July 24, 2025, to approximately 1,538,227 shares. The total authorized number of shares will not be reduced. 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.

Stockholders holding their shares electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker, or other nominee will have their positions automatically adjusted to reflect the Reverse Split, subject to brokers' particular processes, and will not be required to take any action in connection with the Reverse Split. For those stockholders holding physical stock certificates, the Company's transfer agent, VStock Transfer, LLC, will send instructions for exchanging those certificates for shares held electronically in book-entry form or for new certificates, in either case representing the post-split number of shares, and any payments in cash in lieu of fractional shares, if applicable.

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), drug- resistant Streptococcus pneumoniae (DRSP) and B. anthracis (anthrax; a Bioterrorism Category A Threat-Level pathogen). Acurx's lead product candidate, ibezapolstat, for the treatment of C. difficile Infection is Phase 3 ready with plans in progress to begin international clinical trials next year subject to obtaining appropriate financing. The Company's preclinical pipeline includes development of an oral product candidate for treatment of ABSSSI (Acute Bacterial Skin and Skin Structure Infections), upon which a development program for treatment of inhaled anthrax is being planned in parallel.

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, the timing and effectiveness of the Reverse Split, the Company's ability to regain compliance with the Nasdaq minimum bid price and other listing requirement 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 U.S. 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 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, 2024, 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.

FAQ

What is the ratio of Acurx Pharmaceuticals (ACXP) reverse stock split?

Acurx announced a 1-for-20 reverse stock split, meaning every 20 current shares will be converted into 1 share of common stock.

When will ACXP's reverse stock split take effect?

The reverse split will legally take effect on August 4, 2025, at 4:01 p.m. ET, with split-adjusted trading beginning on August 5, 2025.

How many shares will ACXP have outstanding after the reverse split?

After the reverse split, ACXP's outstanding shares will reduce from approximately 30.7 million to 1.5 million shares.

Why is Acurx Pharmaceuticals doing a reverse stock split?

The reverse split is intended to increase the per share trading price to help ACXP regain compliance with Nasdaq's minimum bid price requirement for continued listing.

What happens to fractional shares in ACXP's reverse split?

Shareholders will receive cash payments for fractional shares based on the closing price on August 1, 2025.