Acurx Pharmaceuticals Inc. Common Stock [NASDAQ: ACXP] plunged by -$1.65 during the normal trading session on Monday and reaching a high of $7.40 during the day while it closed the day at $6.24. The company report on June 25, 2021 that Acurx Pharmaceuticals, Inc. announces pricing of $15 Million underwritten Initial public offering of common stock.
Acurx Pharmaceuticals, Inc. (Nasdaq: ACXP) (the “Company”), a clinical stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, announced the pricing of an underwritten initial public offering of 2,500,000 newly-issued shares of its common stock at a price of $6.00 per share. The gross proceeds to the Company from the offering are expected to be approximately $15 million before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company has also granted to the underwriters of the offering a 45-day option to purchase up to an additional 375,000 shares of common stock to cover over-allotments in connection with the offering. The shares are expected to begin trading on June 25, 2021 on the Nasdaq Capital Market under the ticker symbol “ACXP.” The offering is expected to close on June 29, 2021, subject to customary closing conditions.
Alexander Capital L.P. is acting as lead book-running manager for the offering. Network 1 Financial Securities, Inc. is acting as co-manager.
The market cap for ACXP stock reached $59.54 million, with 9.54 million shares outstanding. Compared to the average trading volume of 14.62M shares, ACXP reached a trading volume of 2982263 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Acurx Pharmaceuticals Inc. Common Stock [ACXP]:
The Average True Range (ATR) for Acurx Pharmaceuticals Inc. Common Stock is set at 2.51