Bitcoin

Vortex

Read

Public biopharmaceutical company Acurx Pharmaceuticals said it plans to buy up to $1 million worth of Bitcoin to hold as a “treasury reserve asset.”
Acurx Pharmaceuticals, a biopharmaceutical company developer new antibiotics for hard-to-treat bacterial infections, is set to purchase up to $1 million in Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) to hold the cryptocurrency as a “treasury reserve asset” on its balance sheet.
In a Nov. 20 <a href="https://www.acurxpharma.com/news-media/press-releases/detail/93/acurx-board-of-directors-approves-bitcoin-as-treasury?data=8y34h33denis98y32omelchenko98y9d8sh" target="_blank" rel="noopener noreferrer nofollow">press release</a>, the New York-headquartered company said the board-approved strategy will be beneficial for it as it leverages Bitcoin’s characteristics, which will provide a “functional store of value.” Acurx Pharmaceuticals president and chief executive David P. Luci said the new treasury strategy is a “finance strategy and has no impact on our overarching drug development plans.”
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “As demand for Bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset for cash not needed over the next 12 to 18 months. With the recent approval of Bitcoin ETFs and the growing support from government agencies and institutional investors, it is a great addition to our treasury strategy.”
 David P. Luci
</blockquote>
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/brevan-howards-new-fund-to-target-firms-with-crypto-on-balance-sheets-report/"> Brevan Howard’s new fund to target firms with crypto on balance sheets: report </a>
<h2 class="wp-block-heading" id="acurx-shares-jump-6-following-bitcoin-acquisition-plan">Acurx shares jump 6% following Bitcoin acquisition plan</h2>
Founded in 2017 by David P. Luci and Robert J. DeLuccia, Acurx Pharmaceuticals is a late-stage biopharmaceutical company specializing in the development of novel antibiotics targeting difficult-to-treat bacterial infections, particularly Gram-positive pathogens.
The company went public in 2021 and trades on Nasdaq under the ticker ACXP. Amid the news, Acurx shares soared 6.6% up to $1.78 on pre-market trading, according to data from Nasdaq.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-miner-vortex-brands-puts-microstrategy-shares-on-balance-sheet/"> Bitcoin miner Vortex Brands puts MicroStrategy shares on balance sheet </a>

Nasdaq-listed antibiotics developer Acurx to put $1m in Bitcoin on balance sheet

Table of Contents

crypto.news

Other articles published on Nov 21, 2024

GIGA Token Holder Loses $6.09M in Phishing Scam

Stellar XLM Gains 150% in Huge Rally with Growing Market Interest

New Sky Stablecoin USDS Launched To Increase DeFi Liquidity and TVL on Solana

Who is Ripple's CEO Brad Garlinghouse?

Announced for the First Time: Hackers Who Stole 342 Thousand Ethereum (ETH) from Upbit Were Found...

FTX Nears Completion of Chapter 11 Plan, Distribution Expected in Early 2025

Join our free newsletter for daily crypto updates!