$ACXP
Acurx Pharmaceuticals, Inc.

2024 Q2 Form 10-Q Financial Statement

#000155837024008130 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.296M $2.823M
YoY Change 34.37% 49.57%
% of Gross Profit
Research & Development $1.826M $1.555M
YoY Change 5.14% 53.12%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.122M $4.378M
YoY Change 19.64% 50.81%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.122M -$4.378M
YoY Change 19.64% 50.81%
Income Tax
% Of Pretax Income
Net Earnings -$4.122M -$4.378M
YoY Change 19.64% 50.81%
Net Earnings / Revenue
Basic Earnings Per Share -$0.26 -$0.28
Diluted Earnings Per Share -$0.26 -$0.28
COMMON SHARES
Basic Shares Outstanding 15.84M 15.76M
Diluted Shares Outstanding 15.82M 15.47M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.361M $8.921M
YoY Change -30.45% 24.27%
Cash & Equivalents $6.361M $8.921M
Short-Term Investments
Other Short-Term Assets $168.4K $187.9K
YoY Change 87.25% -9.05%
Inventory
Prepaid Expenses $168.4K $187.9K
Receivables
Other Receivables
Total Short-Term Assets $6.580M $9.109M
YoY Change -28.75% 23.34%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.00 $4.00
YoY Change -33.33% -500.0%
TOTAL ASSETS
Total Short-Term Assets $6.580M $9.109M
Total Long-Term Assets $2.00 $4.00
Total Assets $6.580M $9.109M
YoY Change -28.75% 23.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.13K $9.200K
YoY Change -21.35% -50.03%
Accrued Expenses $3.143M $3.101M
YoY Change 4.53% 50.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.153M $3.110M
YoY Change 4.42% 49.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.153M $3.110M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.153M $3.110M
YoY Change 4.42% 49.96%
SHAREHOLDERS EQUITY
Retained Earnings -$61.72M -$57.60M
YoY Change 37.19% 38.64%
Common Stock $16.00K $15.76K
YoY Change 23.0% 35.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.427M $5.999M
YoY Change
Total Liabilities & Shareholders Equity $6.580M $9.109M
YoY Change -28.75% 23.34%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$4.122M -$4.378M
YoY Change 19.64% 50.81%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$2.880M -$3.063M
YoY Change 82.68% 58.46%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 320.2K 4.510M
YoY Change -90.96%
NET CHANGE
Cash From Operating Activities -2.880M -3.063M
Cash From Investing Activities
Cash From Financing Activities 320.2K 4.510M
Net Change In Cash -2.560M 1.447M
YoY Change -230.15% -174.85%
FREE CASH FLOW
Cash From Operating Activities -$2.880M -$3.063M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001736243
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15472507
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11639395
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15472507
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11639395
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14468229
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15757102
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-40536
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
Acurx Pharmaceuticals, Inc.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
82-3733567
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
259 Liberty Ave
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Staten Island
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10305
CY2024Q1 dei City Area Code
CityAreaCode
917
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
533-1469
CY2024Q1 dei Security12b Title
Security12bTitle
Common Stock, $0.001 par value per share
CY2024Q1 dei Trading Symbol
TradingSymbol
ACXP
CY2024Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2024Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
15843102
CY2024Q1 us-gaap Cash
Cash
8920926
CY2023Q4 us-gaap Cash
Cash
7474188
CY2023Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
129159
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
187908
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
105776
CY2024Q1 us-gaap Assets
Assets
9108834
CY2023Q4 us-gaap Assets
Assets
7709123
CY2024Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3110242
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3042438
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
3110242
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3042438
CY2024Q1 us-gaap Liabilities
Liabilities
3110242
CY2023Q4 us-gaap Liabilities
Liabilities
3042438
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
15757102
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14468229
CY2024Q1 us-gaap Common Stock Value
CommonStockValue
15757
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
14468
CY2024Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
63579577
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
57871070
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-57596742
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-53218853
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
5998592
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
4666685
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
9108834
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7709123
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1555011
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1015583
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2822878
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1887374
CY2024Q1 us-gaap Operating Expenses
OperatingExpenses
4377889
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
2902957
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-4377889
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2902957
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15472507
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11639395
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
7315021
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
733472
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
165903
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2902957
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
5311439
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
4666685
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
894523
CY2024Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
305600
CY2024Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
135741
CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4299474
CY2024Q1 acxp Stock Issued During Period Value Warrant Exercises
StockIssuedDuringPeriodValueWarrantExercises
210199
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-4377889
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
5998592
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-4377889
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-2902957
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
894523
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
733472
CY2024Q1 acxp Share Based Payment To Vendors
ShareBasedPaymentToVendors
305600
CY2023Q1 acxp Share Based Payment To Vendors
ShareBasedPaymentToVendors
165903
CY2024Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-129159
CY2024Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
82132
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-58354
CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
67804
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
12297
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3062935
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1932931
CY2024Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
210199
CY2024Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
4299474
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4509673
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1446738
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1932931
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7474188
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9111751
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8920926
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7178820
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">NOTE 1 – NATURE OF OPERATIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;text-decoration-color:#000000;text-decoration-line:none;">Business</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">Acurx Pharmaceuticals, Inc., a Delaware corporation, formerly Acurx Pharmaceuticals, LLC (the “Company”) is a clinical stage biopharmaceutical company formed in July 2017, with operations commencing in February 2018. The Company is focused on developing a novel class of antibiotics that address serious or life-threatening bacterial infections.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">In March 2020, the World Health Organization declared the outbreak of COVID-19, a novel strain of coronavirus, a global pandemic. This outbreak caused major disruptions to businesses and markets worldwide as the virus continued to spread. The COVID-<span style="white-space:pre-wrap;">19 pandemic has disrupted, and the Company expects it will continue to disrupt, its operations. The extent of the effect on the Company’s operational and financial performance will depend on future developments, including the duration, spread and intensity of the pandemic, and governmental, regulatory and private sector responses, direct and indirect economic effects as a result of inflation, supply chain disruptions and labor shortages all of which are uncertain and difficult to predict. Although the Company is unable to estimate the financial effect of the pandemic, at this time, if the pandemic continues over a long period of time, it could have a material adverse effect on the Company’s business, results of operations, financial condition, and cash flows. The financial statements do not reflect any adjustments as a result of the pandemic.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">In February 2018, the Company purchased the active pharmaceutical ingredient, the intellectual property and other rights to an antibiotic product candidate known as GLS362E (renamed ACX-362E and now approved for non-proprietary name, ibezapolstat) (the “Asset”) from GLSynthesis, Inc. The Company paid $110,174 in cash, along with granting 100,000 Class B Membership Interests, profits interests as defined in the operating agreement, with an exercise price of $0.10 per share. The Company was also required to make certain milestone payments totaling $700,000 in aggregate if certain milestones are achieved, $50,000 of which has already been paid by the Company and royalty payments equal to 4% of net sales for a period of time equal to the last to expire of any applicable patents, as defined in the asset purchase agreement. The purchase of the Asset has resulted in our lead antibiotic product candidate, ibezapolstat, which targets the treatment of <i style="font-style:italic;">C. difficile</i> infections (“CDI”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">The Company’s primary activities since inception aside from organizational activities have included performing research and development activities relating to the development of its two antibiotic candidates and raising funds through equity offerings including its initial public offering (“IPO”) consummated in June 2021. The Company has not generated any revenues since inception.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;">The Company has experienced net losses and negative cash flows from operations since inception and expects these conditions to continue for the foreseeable future. The Company has needed to raise capital from sales of its securities to sustain operations. On June 29, 2021, the Company completed the IPO, issuing 2,875,000 shares of common stock at a price of $6.00 per share, with gross proceeds of approximately $17.3<span style="white-space:pre-wrap;"> million. On July 27, 2022, the Company completed a registered direct offering and a concurrent private placement, issuing </span>1,159,211 shares of common stock and 130,769 pre-funded warrants and Series A Warrants to purchase 1,289,980 shares of common stock and Series B Warrants to purchase 1,289,980 shares of common stock for gross proceeds of approximately $4.2<span style="white-space:pre-wrap;"> million. On May 18, 2023, the Company completed a registered direct offering and a concurrent private placement, issuing </span>601,851 shares of common stock, 731,482 pre-funded warrants, Series C Warrants to purchase 1,333,333 shares of common stock and Series D Warrants to purchase 1,333,333 shares of common stock for gross proceeds of approximately $4.0<span style="white-space:pre-wrap;"> million. </span>On November 15, 2023, the Company entered into a Sales Agreement and established an “At-the-Market” offering (the “ATM Program”), pursuant to which the Company may offer and sell, from time to time through A.G.P/Alliance Global Partners, as sales agent, shares of its common stock having an aggregate offering price of up to $17.0<span style="white-space:pre-wrap;"> million. Under the ATM Program, the Company sold a total of </span>1,819,914 shares of common stock for gross proceeds of approximately $7.1<span style="white-space:pre-wrap;"> million. </span>As of March 31, 2024, the Company had a cash balance of approximately $8.9<span style="white-space:pre-wrap;"> million, which based on current estimates will not be sufficient to meet its anticipated cash requirements for at least 12 months from the issuance of the condensed financial statements for the period ended March 31, 2024. Management believes that the Company will continue to incur losses for the foreseeable future and will need additional resources to sustain its operations until it can achieve profitability and positive cash flows, if ever. Management plans to seek additional equity financing and grant funding, but cannot assure that such financing and funding will be available at acceptable terms, or at all. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty. There can be no assurance that the Company’s research and development will be successfully completed or that any Company product candidate will </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">be approved by the Food and Drug Administration (“FDA”) or any other worldwide regulatory authority or become commercially viable. The Company is subject to risks common to companies in the biopharmaceutical industry including, but not limited to, dependence on collaborative arrangements, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with FDA and other governmental regulations and approval requirements.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2021Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2875000
CY2021Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
6.00
CY2021Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17300000
CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1159211
CY2022Q3 acxp Warrant Exercise Pre Funded Shares
WarrantExercisePreFundedShares
130769
CY2022Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4200000
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
601851
CY2023Q2 acxp Warrant Exercise Pre Funded Shares
WarrantExercisePreFundedShares
731482
CY2023Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000.0
CY2024Q1 us-gaap Cash
Cash
8900000
CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1159211
CY2022Q3 acxp Warrant Exercise Pre Funded Shares
WarrantExercisePreFundedShares
130769
CY2022Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4200000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;text-decoration-color:#000000;text-decoration-line:none;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</span></p>
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2024Q1 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
0
CY2024Q1 us-gaap Cash
Cash
8900000
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1555011
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1015583
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;text-decoration-color:#000000;text-decoration-line:none;">Major Vendor</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">The Company had a major vendor that accounted for approximately 24% and 2%<span style="white-space:pre-wrap;"> of the research and development expenditures for the three months ended March 31, 2024 and 2023, respectively. The Company continues to maintain this vendor relationship and anticipates incurring significant expenses with this vendor over the next 12 months.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">The Company had an additional major vendor that accounted for approximately 13% and 60% of the research and development expenditures for the three months ended March 31, 2024 and 2023, respectively. The same vendor also accounted for approximately 54% and 53% of the total accounts payable and accrued expenses as of March 31, 2024 and December 31, 2023, respectively.</p>
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
21423
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
716307
CY2024Q1 acxp Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
2763110
CY2023Q4 acxp Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
2263934
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
316507
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
58388
CY2024Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
9202
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
3809
CY2024Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3110242
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3042438
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15757102
CY2021Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2875000
CY2021Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
6.00
CY2021Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
14800000
CY2021Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2400000
CY2022Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
3700000
CY2022Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
287874
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
63018
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.60
CY2022Q3 acxp Percentage Of Weighted Average Public Offering Price Of Aggregate Number Of Shares Of Common Stock Sold
PercentageOfWeightedAveragePublicOfferingPriceOfAggregateNumberOfSharesOfCommonStockSold
1.10
CY2022Q3 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
171409
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
601851
CY2023Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
3.00
CY2023Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
731482
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.9999
CY2023Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000.0
CY2023Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
3500000
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
6195456
CY2024Q1 acxp Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
-59211
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
6136245
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y9M18D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.03
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.98
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0428
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0385
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.64
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.81
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2985000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.64
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M21D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
251550
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
835000
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.15
CY2024Q1 acxp Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateWeightedAverageRemainingContractualTerm
P9Y11M1D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3820000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.10
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y25D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2492056
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.92
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
3768883
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
3.96
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001558370-24-008130-index-headers.html Edgar Link pending
0001558370-24-008130-index.html Edgar Link pending
0001558370-24-008130.txt Edgar Link pending
0001558370-24-008130-xbrl.zip Edgar Link pending
acxp-20240331.xsd Edgar Link pending
acxp-20240331x10q.htm Edgar Link pending
acxp-20240331xex31d1.htm Edgar Link pending
acxp-20240331xex31d2.htm Edgar Link pending
acxp-20240331xex32d1.htm Edgar Link pending
acxp-20240331xex32d2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
acxp-20240331_def.xml Edgar Link unprocessable
acxp-20240331_lab.xml Edgar Link unprocessable
acxp-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
acxp-20240331x10q_htm.xml Edgar Link completed
acxp-20240331_cal.xml Edgar Link unprocessable