Shareholder equity has been systematically eroded by accumulated deficits totaling $77.0 million as of 2026Q1, highlighting a vulnerable capital structure that necessitates ongoing external funding.
| Total Current Assets | 9.54M | 7.69M | 3.86M | 7.71M | 9.38M | 13.25M | 3.22M | 2.53M |
| Cash & Short-Term Investments | 9.25M | 7.56B | 3.71M | 7.47M | 9.11M | 12.96M | 3.18M | 2.48M |
| Cash Only | 9.25M | 7.56B | 3.71M | 7.47M | 9.11M | 12.96M | 3.18M | 2.48M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 56.31K | 48.42K | 51.13K | 129.16K | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | -7.55B | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 9.54M | 7.69M | 3.86M | 7.71M | 9.38M | 13.25M | 3.22M | 2.53M |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - |
| Asset Growth % | 193.46% | 99.32% | -49.96% | -17.78% | -29.25% | 311.11% | 27.36% | - |
| Total Current Liabilities | 2.53M | 2.42M | 3.24M | 3.04M | 2.06M | 843.91K | 472.56K | 1.71M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 16.63K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.5M | 2.41M | 537.63K | 716.31K | 542.89K | 508.34K | 317.07K | 1.31M |
| Current Ratio | 3.78x | 3.18x | 1.19x | 2.53x | 4.55x | 15.71x | 6.82x | 1.48x |
| Quick Ratio | 3.78x | 3.18x | 1.19x | 2.53x | 4.55x | 15.71x | 6.82x | 1.48x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 49.88K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 49.88K | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 2.53M | 2.42M | 3.24M | 3.04M | 2.06M | 843.91K | 522.43K | 1.71M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 66.5K | 0 |
| Net Debt | -9.25M | -7.56B | -3.71M | -7.47M | -9.11M | -12.96M | -3.11M | -2.48M |
| Debt / Equity | 0.00x | - | - | - | - | - | 0.02x | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.21x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - |
| Total Equity | 7.01M | 5.27M | 615.12K | 4.67M | 7.32M | 12.41M | 2.7M | 819.85K |
| Equity Growth % | 1000.51% | 756.51% | -86.82% | -36.2% | -41.06% | 359.37% | 229.52% | - |
| Book Value per Share | 4.68 | 3.51 | 0.72 | 7.37 | 13.53 | 24.30 | 5.45 | 1.72 |
| Total Shareholders' Equity | 7.01M | 5.27M | 615.12K | 4.67M | 7.32M | 12.41M | 2.7M | 819.85K |
| Common Stock | 3.39K | 2.35K | 17.03K | 14.47K | 11.63K | 10.22K | 16.5M | 10.02M |
| Retained Earnings | -76.97M | -75.29M | -67.32M | -53.22M | -38.64M | -26.55M | -13.8M | -9.2M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | -38.64M | -26.55M | -13.8M | -9.2M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Binary clinical trial failure
As reported in financial statements, ACXP's equity base has experienced significant volatility, declining from $6.0 million in 2024Q1 to $7.0 million in 2026Q1, a trend that underscores the firm's ongoing reliance on external financing to offset persistent operating losses and sustain its clinical development pipeline.
The trajectory of the balance sheet reflects a company in a perpetual state of capital consumption, with retained earnings deepening to -$77.0 million as of 2026Q1. This persistent erosion suggests that the firm's survival is entirely contingent upon its ability to access capital markets, as internal value creation remains absent.
Based on reported figures, the current ratio has fluctuated between 1.19 and 3.78 over the last ten quarters, yet this metric provides a misleading sense of security given the company's lack of revenue and the high probability of future dilutive capital raises to fund clinical trials.
While the current ratio appears adequate on paper, the underlying cash position is insufficient to support long-term Phase 3 development without further equity issuance. Investors should monitor the cash burn rate closely, as the current liquidity buffer may be exhausted rapidly if clinical trial costs exceed current projections.
According to recent SEC filings, the company's equity position has been consistently undermined by accumulated deficits, which reached -$77.0 million by 2026Q1, indicating that shareholder value is being systematically consumed to finance the research and development of the ibezapolstat therapeutic candidate.
The lack of positive retained earnings highlights the speculative nature of the equity, which serves primarily as a vehicle for funding clinical milestones rather than representing tangible book value. Future equity quality will likely remain strained until the company can demonstrate a clear path to commercialization or strategic partnership.
As indicated by the provided data, the reported cash position of $7.6 billion in 2025Q4 represents a massive, likely erroneous outlier that contradicts the company's micro-cap profile and warrants extreme skepticism regarding the accuracy of the firm's disclosed financial position.
This discrepancy in the reported cash figure makes it impossible to accurately assess the company's true runway or financial health. Analysts should treat all liquidity-related metrics with caution until the source of this data anomaly is clarified, as it may mask a much more precarious financial reality.
Quick answers to the most common questions about buying ACXP stock.
As of 2025, Acurx Pharmaceuticals, Inc. (ACXP) had total assets of $7.7M including $7.7M in current assets.
Acurx Pharmaceuticals, Inc. (ACXP) carries total debt of $0.0M, offset by $7.56B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Acurx Pharmaceuticals, Inc. (ACXP) has total shareholders' equity (book value) of $5.3M ($3.51 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Acurx Pharmaceuticals, Inc. (ACXP) reported a current ratio of 3.18x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.