Acurx Pharmaceuticals to Invest $1 Million in Bitcoin as Treasury Reserve Asset

Acurx Pharmaceuticals, a Nasdaq-listed biopharmaceutical company specializing in the development of antibiotics for difficult-to-treat bacterial infections, has announced plans to invest up to $1 million in Bitcoin. The company will hold the cryptocurrency as a treasury reserve asset on its balance sheet, marking a significant move in its financial strategy.

In a press release dated November 20, the New York-based firm revealed that the decision was approved by its board of directors. Acurx President and CEO David P. Luci emphasized that this move will allow the company to leverage Bitcoin’s characteristics, positioning the cryptocurrency as a “functional store of value.” He further clarified that the decision to add Bitcoin to its treasury is a strategic financial decision that does not affect the company's primary focus on advancing its drug development pipeline.

Luci explained, "As Bitcoin's demand grows and its acceptance continues to rise as a major asset class, we believe it will serve as a strong reserve asset for cash that is not immediately needed. With the recent approval of Bitcoin ETFs and increasing backing from institutional investors and government bodies, Bitcoin has become a compelling addition to our treasury strategy."

The investment comes as Bitcoin's legitimacy and mainstream adoption continue to gain momentum, bolstered by regulatory developments such as the approval of Bitcoin ETFs and rising institutional support. Acurx’s move reflects broader trends among public companies diversifying their balance sheets with digital assets.

Following the announcement, Acurx’s stock surged, with shares jumping 6.6% to $1.78 in pre-market trading, according to Nasdaq data. The company's decision to acquire Bitcoin is expected to help it manage excess cash in a way that could yield returns over the next 12 to 18 months, while also safeguarding against potential inflationary risks.

Founded in 2017 by David P. Luci and Robert J. DeLuccia, Acurx Pharmaceuticals, is focused on developing novel antibiotics targeting resistant Gram-positive bacterial infections. The company went public in 2021 and trades on Nasdaq under the ticker ACXP.

By adding Bitcoin to its treasury, Acurx joins a growing list of corporations using cryptocurrency as a strategic financial tool, highlighting the evolving role of digital assets in corporate finance.