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 = 49% 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-62% 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)

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

2021-08-132026-08-13

Latest: 5.3M shares as of Aug 13, 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

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Series F Warrantsnot tagged$82y
Underwriter Warrantsnot tagged$155y
Series E Warrantsnot tagged$185y
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 G1 Warrantsnot taggednot tagged5y
Series G2 Warrantsnot taggednot tagged5y
Series G Warrantsnot tagged$8.5

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 13, 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: 2.6M underlying shares, as reported Jun 30, 2026 (10-Q).

Reported exercise price: $2.78 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 7.8M = 5.3M O/S + 2.6M 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 Aug 13, 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 outstanding5.3MAug 13, 2026
+ Warrants (aggregate, as tagged) (if exercised)2.6MJun 30, 2026
Fully diluted estimate7.8M+48.9% 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.

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