Acurx Pharmaceuticals Inc.'s (ACXP) Board of Directors has approved the purchase of up to $1 million in Bitcoin to hold as a treasury reserve asset.
The decision, made on November 20, 2024, reflects the company's strategy to invest in Bitcoin due to its growing demand and acceptance as a primary asset class.
The company believes Bitcoin's inflation-resistant characteristics and limited supply make it a strong store of value for funds not needed in the next 12 to 18 months.
This move is part of its broader financial strategy and will not affect its ongoing drug development plans.
The company's lead product candidate is Ibezapolstat, a phase III-ready compound, under development for the treatment of patients with C. difficile Infection.
ACXP closed Thursday's trading at $1.30, down 6.47 %. In premarket trading today, the stock is up by 9.23 % at $1.42.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.