On January 6, 2025, James Donohue, a Director at Acurx Pharmaceuticals Inc (ACXP, Financial), purchased 9,852 shares of the company. Following this transaction, the insider now owns a total of 22,352 shares. This purchase is documented in the SEC Filing.
Acurx Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing new antibiotics for difficult-to-treat bacterial infections. The company's primary focus is on developing a new class of antibiotics that target the DNA polymerase IIIC enzyme, which is essential for bacterial replication.
The recent purchase by James Donohue is part of a broader trend of insider buying at Acurx Pharmaceuticals Inc. Over the past year, there have been six insider buys and zero insider sells, indicating a positive sentiment among the company's insiders.
On the day of the insider's recent purchase, shares of Acurx Pharmaceuticals Inc were trading at $1.02 each, resulting in a market cap of $12.687 million. This transaction reflects the insider's confidence in the company's future prospects.
For investors, insider buying can be a significant indicator of a company's potential. The absence of insider selling over the past year further underscores the positive outlook held by those closely associated with the company.
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