Dilution profile // every instrument, one screen, from SEC filings

Acurx Pharmaceuticals, Inc. (ACXP)

CIK 1736243 · all EDGAR filings →

Overall dilution risk
MEDIUMworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
MEDIUM$7.8M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
MEDIUMwarrants = 21% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW-63% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
LOW~25.6 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2021-08-132026-05-11

Latest: 4.3M shares as of May 11, 2026 (10-Q). Share count fell from 23.5M to 1.6M between May 12, 2025 and Aug 11, 2025, a pattern consistent with a reverse split (roughly 1-for-15); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Series F Warrantsnot tagged$82y
Unregistered Short Term Warrantsnot tagged$2.782y
Pre Funded Warrantsnot tagged$3.029
Series Warrantsnot tagged$65
Series B Warrantsnot tagged$65
Series C Warrantsnot tagged$65.2
Series D Warrantsnot tagged$65.2
Series E Warrantsnot tagged$185y
Series G1 Warrantsnot taggednot tagged5y
Series G2 Warrantsnot taggednot tagged5y
Series G Warrantsnot tagged$8.5
Underwriter Warrantsnot tagged$155y

Tranches exactly as the company dimensioned them in its 10-Q filed May 11, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 922,879 underlying shares, as reported Mar 31, 2026 (10-Q).

Reported exercise price: $2.9999 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 5.2M = 4.3M O/S + 922,879 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

No convertible-note facts tagged in the 10-Q filed May 11, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding4.3MMay 11, 2026
+ Warrants (aggregate, as tagged) (if exercised)922,879Mar 31, 2026
Fully diluted estimate5.2M+21.5% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $7.8Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1May 4, 2026$2.6M registeredfiling →
S-1May 4, 2026$3.3M registeredfiling →
S-1Feb 2, 2026$1.8M registeredfiling →

Last 12 months: 2 executed · 5 registered.

UPDATEMay 12, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATEMay 12, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEMay 11, 2026SEC declared a registration effective — selling can beginEFFECT
EFFECTIVEMay 11, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMay 4, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
REGISTEREDMay 4, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
EXECUTEDApr 16, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDApr 16, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
UPDATEFeb 11, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEFeb 11, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDFeb 2, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
EFFECTIVEJan 6, 2026SEC declared a registration effective — selling can beginEFFECT

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

Keep going: float checker · offering calendar · short-squeeze screener · full ACXP workspace