0001104659-26-027052
SEC filingAcurx Pharmaceuticals, Inc. reported a net loss of $8.0 million for the fiscal year ended December 31, 2025, an improvement from a net loss of $14.1 million in the prior year. The company incurred total operating expenses of $8.1 million, consisting of $1.8 million in research and development and $6.3 million in general and administrative expenses, resulting in an operating loss of $8.1 million. The company generated $125,000 in interest income. Cash and cash equivalents were $7.6 million as of December 31, 2025, with total assets of $7.7 million and total shareholders' equity of $5.3 million. The company used $6.8 million in net cash from operating activities but raised $10.6 million from financing activities, primarily through equity offerings and warrant exercises, resulting in a net increase in cash of $3.8 million. The company remains a clinical-stage biopharmaceutical company with no product revenue, focusing on developing its lead antibiotic candidate, ibezapolstat, for Clostridioides difficile infection.
Acurx Pharmaceuticals reported a net loss of $8.0 million for the fiscal year ended December 31, 2025, representing a 44% improvement from the $14.1 million net loss in the prior year. This reduction was driven by decreased operating expenses, which totaled $8.1 million compared to $14.1 million in FY 2024. Research and development expenses decreased by 66% to $1.8 million, primarily due to reduced consulting fees and manufacturing costs as Phase 2b clinical trial activities concluded. General and administrative expenses decreased by 28% to $6.3 million, mainly due to lower share-based compensation and professional fees. The company generated $125,000 in interest income. Basic and diluted net loss per common share was $5.00, consistent with the prior year, with weighted average common shares outstanding of 1.5 million for both basic and diluted calculations.
The company has not generated any revenue from product sales since inception and does not expect to generate revenue in the near future. As a clinical-stage biopharmaceutical company, Acurx's operations are focused entirely on research and development activities for its antibiotic candidates. The company's financial resources are dedicated to advancing its lead product candidate, ibezapolstat, through clinical development. No segment revenue or geographic revenue mix is disclosed as the company has no commercial operations.
With no revenue, the company operates at a loss. The operating loss was $8.1 million for FY 2025, representing a 43% improvement from the $14.1 million operating loss in the prior year. The reduction in operating expenses was primarily due to decreased research and development activities following the completion of Phase 2b clinical trials for ibezapolstat. General and administrative expenses also decreased due to lower share-based compensation costs and professional fees. The company's cost structure remains heavily weighted toward general and administrative expenses, which accounted for 77% of total operating expenses in FY 2025.
Net cash used in operating activities was $6.8 million for FY 2025, primarily attributable to the net loss of $8.0 million, offset by non-cash share-based compensation of $1.2 million and share-based payments to vendors of $322,000. Net cash provided by financing activities was $10.6 million, consisting of proceeds from registered direct offerings, warrant exercises, and equity line of credit transactions. The company ended the year with $7.6 million in cash, total assets of $7.7 million, and total shareholders' equity of $5.3 million. Total liabilities were $2.4 million, consisting entirely of current liabilities. The accumulated deficit increased to $75.3 million.
The company's future capital requirements will depend on the timing and progress of clinical trials for ibezapolstat and other product candidates. Management believes existing cash resources will not be sufficient to fund operations for at least 12 months from the issuance of the financial statements. The company plans to seek additional funding through equity or debt financings, strategic partnerships, or licensing arrangements. Key risk factors include the need for substantial additional funding, reliance on the success of ibezapolstat, regulatory approval uncertainties, and competition from larger pharmaceutical companies. The company received positive regulatory feedback from the FDA and EMA regarding its Phase 3 clinical trial plans for ibezapolstat and plans to advance the program internationally.