ACURA PHARMACEUTICALS, INC

Form Type: 8-K

Filing Date: 2024-12-16

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000110465924128546

Comments: On December 12, 2024, Acura Pharmaceuticals, Inc. disclosed the receipt of a $50,000 loan from Abuse Deterrent Pharma, LLC (AD Pharma), following previous loans. Combined with older loans, the total principal balance amounts to $6,944,279, with accrued interest of approximately $500,000. The document outlines significant financial challenges facing the company, including risks of bankruptcy if additional financing is not obtained by the end of December 2024, which may lead to layoffs, scaled back operations, or a complete termination of operations. The report also highlights that AD Pharma owns about 65% of Acura's common stock and mentions forward-looking statements regarding the company's financial stability, potential FDA approvals, and operational risks.

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