The company maintains a zero-revenue status across all ten observed quarters, with operating losses consistently ranging between $1.6 million and $5.1 million as R&D expenses dominate the cost structure.
Acurx Pharmaceuticals, Inc. (ACXP) annual income statement — 7-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - | - | - |
| Operating Expenses | 7.67M | 8.09M | 14.1M | 14.58M | 12.09M | 12.81M | 4.6M | 5.93M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 7.63B | 6.26B | 8.7M | 8.53M | 7.34M | 10.78M | 2.4M | 2.42M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - |
| Research & Development | 1.83B | 1.83B | 5.4M | 6.04M | 4.75M | 2.03M | 2.2M | 3.51M |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -2M | -8.08B | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -7.67M | -8.09M | -14.1M | -14.58M | -12.09M | -12.81M | -4.6M | -5.93M |
| Operating Margin % | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 42.62% | 3.26% | -20.55% | 5.63% | -178.57% | 22.44% | - |
| EBITDA | -7.56M | -7.97M | 0 | -14.58M | -12.09M | -12.75M | 0 | 0 |
| EBITDA Margin % | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -236.52% | - | 100% | -20.55% | 5.14% | - | - | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 14.1M | 0 | 0 | 0 | 4.6M | 5.93M |
| EBIT | -7.56M | -7.97M | -14.1M | -14.58M | -12.09M | -12.75M | -4.6M | -5.93M |
| Net Interest Income | 162.81K | 125.44K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 162.81K | 125.44K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 162.81K | 125.44K | 0 | 0 | 0 | 66.5K | 0 | 0 |
| Pretax Income | -7.51M | -7.97M | -14.1M | -14.58M | -12.09M | -12.75M | -4.6M | -5.93M |
| Pretax Margin % | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -7.51M | -7.97M | -14.1M | -14.58M | -12.09M | -12.75M | -4.6M | -5.93M |
| Net Margin % | - | - | - | - | - | - | - | - |
| Net Income Growth % | 24.93% | 43.51% | 3.26% | -20.55% | 5.14% | -177.12% | 22.44% | - |
| Net Income (Continuing) | -7.51M | -7.97M | -14.1M | -14.58M | -12.09M | -12.75M | -4.6M | -5.93M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.76 | -5.32 | -17.59 | -23.01 | -22.36 | -24.96 | -9.28 | -12.00 |
| EPS Growth % | 66.98% | 69.76% | 23.55% | -2.91% | 10.42% | -168.97% | 22.67% | - |
| EPS (Basic) | - | -5.32 | -17.59 | -23.01 | -22.36 | -24.96 | -9.28 | -12.00 |
| Diluted Shares Outstanding | 4.26M | 1.5M | 851.55K | 633.6K | 540.8K | 510.8K | 495.8K | 477.05K |
| Basic Shares Outstanding | 4.26M | 1.5M | 851.55K | 633.6K | 540.8K | 510.8K | 495.8K | 375.1K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying ACXP stock.
For fiscal year 2025, Acurx Pharmaceuticals, Inc. (ACXP) reported total revenue of $0.0M.
Acurx Pharmaceuticals, Inc. (ACXP) reported a net loss of $8.0M for the fiscal year ending 2025.
Key Metrics
Top Statement Risk
Binary clinical trial failure
Metrics are mathematically derived from official filings.
Pre-Revenue Status Limits Visibility
As a clinical-stage entity, ACXP reports zero revenue across all ten observed quarters, confirming that the firm remains entirely dependent on the successful development of ibezapolstat to generate future top-line growth, according to the provided financial data which highlights the absence of any commercialized therapeutic products.
The lack of revenue generation is expected for a company at this stage of the biotechnology lifecycle, yet it underscores the binary nature of the investment thesis. Investors should monitor the transition from clinical development to potential commercialization, as the current trajectory offers no insight into market adoption or pricing power.
Operational Burn Reflects Clinical Focus
Based on reported income statements, ACXP's cost structure is dominated by R&D and SG&A expenses, with quarterly operating losses ranging from $1.6 million to $5.1 million, reflecting the heavy capital requirements necessary to advance its lead candidate through the rigorous FDA clinical trial process.
The variability in R&D spending suggests lumpy clinical trial milestones rather than a steady-state operational burn. Management appears to be prioritizing clinical execution over administrative overhead, though the persistent negative operating margins necessitate a constant reliance on external financing to sustain the current research trajectory.
Dilution Risks Distort EPS Metrics
As reported in financial statements, the company's EPS figures show significant volatility, with losses per share narrowing from $7.60 in 2023Q4 to $1.12 in 2026Q1, a trend that likely reflects share count adjustments and equity-based compensation rather than fundamental improvements in operational efficiency or profitability.
The reported EPS metrics are heavily influenced by the company's capital structure and frequent equity issuance, which complicates the assessment of underlying performance. Analysts should focus on the absolute cash burn rate rather than per-share metrics, as the latter may mask the ongoing dilution of existing shareholders.
Liquidity Discrepancies Warrant Skepticism
While the provided data indicates a cash position of $7.5 billion, this figure appears anomalous for a micro-cap biotechnology firm, suggesting that the reported liquidity may be subject to significant data errors that could fundamentally alter the perceived risk profile of the company's ongoing clinical operations.
If the reported cash figure is indeed an error, the company's runway may be significantly shorter than the market currently assumes, creating an urgent need for capital that could lead to severe shareholder dilution. Investors should exercise extreme caution and verify the company's actual cash reserves before drawing conclusions about its financial stability.