Acurx Pharmaceuticals has released promising trial results for its lead drug candidate, ibezapolstat, an antibiotic for difficult-to-treat bacterial infections. It was found to effectively target Gram-positive bacteria without causing cross resistance with other antibiotics — in other words, ibezapolstat may work where other antibiotics fail. Even though Acurx stock has almost halved since the start of the year, analysts are upbeat, seeing upside of about 500%.
Details
Acurx Pharmaceuticals has provided updates on two studies involving ibezapolstat. One of them was conducted in partnership with Leiden University Medical Center in the Netherlands and focused on ibezapolstat’s effectiveness in treating colon infections caused by Clostridioides difficile. Those most at risk include the elderly, post-surgery patients, cancer and diabetes patients, and those who have been treated with antibiotics in the past. The results of the study indicate that ibezapolstat successfully targets the bacteria without causing cross resistance with other antibiotics. Meanwhile, the second study investigated ibezapolstat’s potential against anthrax.
The company is now planning for phase 3 clinical trials for ibezapolstat to treat Clostridioides difficile infection. It is also preparing requests for regulatory guidance to hold clinical trials in EU countries, the UK, Japan, and Canada.
Ibezapolstat has previously received qualified infectious disease product and fast-track designations from the U.S. FDA. The former encourages the development of new antibacterial or antifungal drugs by providing an additional five years of market exclusivity (i.e., delaying the entry of other drugs with the same active ingredient), while the fast-track designation is designed to accelerate the development and approval of treatments for serious conditions.
Context
Antibiotic resistance is a growing global health crisis. By 2050, drug-resistant infections could cause over 39 million deaths, according to research published in the medical journal The Lancet and cited by the Washington Post. The authors of the study, having examined datasets from 204 countries, forecast a 70% rise in deaths related to antimicrobial resistance by 2050 versus 2022.
In response to this threat, a second UN General Assembly High-Level Meeting on Antimicrobial Resistance was convened recently, with global leaders endorsing a political declaration for at least 60% of participating countries to implement and fund national action plans to combat antimicrobial resistance by 2030.
Stock performance
On Tuesday, October 1, following the Acurx update, the company’s stock inched higher by a little more than 1%, closing at $1.92 per share on the Nasdaq. Despite a nearly 50% decline in the share price since the beginning of the year, the two analysts covering the company maintain buy recommendations. Their average price target stands at $11 per share, for upside of 470% from the current market price.
