Acurx Pharmaceuticals Inc (NASDAQ:ACXP) shares are trading sharply higher Wednesday afternoon despite a lack of company-specific news during the session. The move may reflect continued investor reaction to Monday’s press release detailing progress for its lead antibiotic candidate, ibezapolstat. Here’s what investors need to know.
- Acurx Pharmaceuticals stock is among today’s top performers. What’s behind ACXP gains?
Acurx Plans Phase 3 Development for Ibezapolstat Program
On Monday, Acurx said it is launching a new clinical trial program for ibezapolstat in patients with recurrent C. difficile infection, or rCDI, while also preparing to advance the drug into Phase 3 international studies for the broader CDI population, subject to funding.
The company said start-up activities for the new open-label rCDI study would begin later this month, with first-patient enrollment expected in the fourth quarter.
The biotech highlighted Phase 2 data showing a 96% clinical cure rate in 26 patients treated with ibezapolstat. Acurx also said all 25 patients who achieved clinical cure remained recurrence-free one month after treatment, while five of five patients followed for three months remained free of recurrence.
FDA Fast Track Status Supports Ibezapolstat Development Plans
Management said the program could position ibezapolstat as a potential first single agent capable of both treating CDI and preventing recurrent infection, which would mark a meaningful shift from the current treatment approach.
The company also noted ibezapolstat has previously received FDA Qualified Infectious Disease Product and Fast Track designations. More details are expected on Acurx’s March 13 earnings call.
ACXP RSI Spikes Into Overbought Territory Amid Rally
Acurx Pharmaceuticals’ RSI spent most of the past year in the neutral range, with several sharp spikes above 70 signaling brief overbought conditions and a few dips toward or below 30 indicating oversold periods.
On Wednesday, the RSI surged to the high 80s, suggesting ACXP has entered strongly overbought territory after a sharp momentum move.
ACXP Stock Surges 80% Wednesday Afternoon
ACXP Price Action: Acurx Pharmaceuticals shares were up 105.17% at $5.95 at the time of publication on Wednesday, according to Benzinga Pro data.
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