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Acura Pharmaceuticals (NASDAQ: ACUR) delays Form 10-Q, cites liquidity reliance on loans

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
NT 10-Q

Rhea-AI Filing Summary

Acura Pharmaceuticals notified the SEC that its Quarterly Report on Form 10-Q for the period ended March 31, 2026 will not be filed on time because of the company’s liquidity and its ability to meet day-to-day operating obligations.

The company discloses it is dependent on loans from Abuse Deterrent Pharma, LLC, has halted audit and review services for prior years, and has not filed Annual Reports for 2022 through 2025 or Quarterly Reports for fiscal years 2022 through 2025. The registrant states it cannot assure successful filing or continued receipt of loans.

Positive

  • None.

Negative

  • None.

Insights

Liquidity shortfall is the proximate cause of filing delay.

The filing identifies constrained liquidity and dependence on loans from Abuse Deterrent Pharma, LLC as the reason the Form 10-Q for the period ended March 31, 2026 cannot be completed. The company halted accounting firm review and audit work for prior years pending funding.

Future disclosures and the company’s ability to secure continued financing will determine if backlog filings resume; timing and funding sources are not disclosed in the excerpt.

Extended non‑filings raise regulatory and compliance risk for the issuer.

The registrant acknowledges missing Annual Reports for 2022–2025 and Quarterly Reports for fiscal 2022–2025, and that audit/review services were halted. That factual state creates ongoing SEC reporting noncompliance.

Regulatory outcomes or required corrective steps are not stated; subsequent filings or SEC correspondence would clarify next steps.

Form period March 31, 2026 Quarterly period end
Annual reports not filed 2022, 2023, 2024, 2025 Annual periods with missing filings
Quarterly reports not filed Fiscal years 2022, 2023, 2024, 2025 Quarterly periods with missing filings
SEC File Number 1-10113 Filing header
CUSIP 00509L 802 Identifier shown on form
Rule cited Rule 12b-25 Notice of late filing basis
Form expires September 30, 2028 Form expiration date in header
Rule 12b-25 regulatory
"The reason described in reasonable detail in Part III of this Form"
Rule 12b-25 is an SEC filing provision that lets a company notify regulators and the public that it cannot file a required periodic report (like a quarterly or annual report) on time and explains the reason for the delay. For investors, the notice is a formal heads-up that financial information will arrive late—similar to a company calling to say it will be late turning in homework—so it signals increased uncertainty and may affect trading and risk assessments until the filing is available.
Form 10-Q regulatory
"Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026"
A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.
independent registered public accounting firm financial
"We have not engaged the independent registered public accounting firm for their review and audit services"
An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.
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    OMB APPROVAL
  UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549		 OMB Number: 3235-0058
  Expires: September 30, 2028
  Estimated average burden hours per response. 2.50

  

  FORM 12b-25 SEC FILE NUMBER
  1-10113
     
    CUSIP NUMBER
  NOTIFICATION OF LATE FILING 00509L 802

  

(Check one): ¨ Form 10-K     ¨ Form 20-F      ¨ Form 11-K      [√ ] Form 10-Q      ¨ Form 10-D     ¨ Form N-CEN      ¨ Form N-CSR

 

  For Period Ended: March 31, 2026
   
  ¨ Transition Report on Form 10-K
  ¨  Transition Report on Form 20-F
  ¨  Transition Report on Form 11-K
  ¨  Transition Report on Form 10-Q
     
  For the Transition Period Ended: ____________________

  

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

   

PART I — REGISTRANT INFORMATION

 

Acura Pharmaceuticals, Inc.
Full Name of Registrant
 
N/A
Former Name if Applicable
 
616 N. North Court
Address of Principal Executive Office (Street and Number)
 
Palatine, IL 60067-8121
City, State and Zip Code

  

 

 

 

  

PART II — RULES 12b-25(b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

 

[√]   (a) The reason described in reasonable detail in Part III of this Form could not be eliminated without unreasonable effort or expense;
  (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D,or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
  (c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

  

PART III — NARRATIVE

  

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

The Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 will not be filed within the prescribed time period because of the Company’s liquidity including the Company’s ability to meet day-to-day operation obligations. We continue to work on finding funding solutions and are dependent on the receipt of loans from Abuse Deterrent Pharma, LLC, which are used to meet day-to-day operation obligations, although no assurance can be made that the receipt of such loans will continue or be sufficient to meet long-term day-to-day operation obligations. We have not filed our Annual Reports for the year ended December 31, 2022, December 31, 2023, December 31, 2024 and December 31 2025. We have not filed our Quarterly Reports for any of the quarterly periods in our fiscal year of 2022, 2023, 2024 and 2025. We have halted our public accounting firm’s review services on each of our 2022 and 2023 quarterly results and their audit services on our 2022 and 2023 annual results, pending finding funding solutions and/or the receipt of loans from Abuse Deterrent Pharma, LLC; which may meet day-to-day operation obligations on a longer term basis. We have not engaged the independent registered public accounting firm for their review and audit services on our quarterly and annual results for 2024, 2025 or 2026. We cannot provide nor can any assurance can be given that the Company will be successful in filing any of the above mentioned reports or securing any funding solutions. The Company assumes no duty to update the status of the annual audits or quarterly reviews until the Annual Reports and the Quarterly Reports are filed with the SEC.

 

PART IV — OTHER INFORMATION

 

(1) Name and telephone number of person to contact in regard to this notification

  

  Robert A. Seiser   847   705-7709
  (Name)   (Area Code)   (Telephone Number)

 

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).
  Yes  [ ]     NO  [√ ]
  The Quarterly Reports for each of the quarterly periods during 2025, 2024, 2023 and 2022, as well as the Quarterly Report for the quarterly period ending March 31, 2026, have not been filed. The Annual Report for the annual periods ended December 31, 2025, 2024, 2023 and 2022 have not been filed.
 
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
  Yes  [_]     NO  [√]
  If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

 

 

 

 

Acura Pharmaceuticals, Inc. 

(Name of Registrant as Specified in Charter)

  

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

  

Date:   May 13, 2026   By: /s/ Robert A. Seiser, Senior VP & CFO

  

 

 

Source: View Original Filing on SEC EDGAR

FAQ

Why did Acura Pharmaceuticals (ACUR) miss the Form 10-Q for March 31, 2026?

Acura states the delay is due to liquidity constraints affecting day-to-day operations. The company says it depends on loans from Abuse Deterrent Pharma, LLC and halted audit/review services pending funding.

Which prior annual and quarterly reports has ACUR not filed?

The registrant discloses it has not filed Annual Reports for 2022–2025 and Quarterly Reports for fiscal years 2022–2025, and the Form 10-Q for the period ended March 31, 2026.

Has Acura retained an independent public accounting firm for recent years?

The company halted its public accounting firm’s review and audit services for 2022 and 2023 and has not engaged an independent registered public accounting firm for 2024–2026.

Does Acura say when it will file the delayed reports?

The company states it cannot assure successful filing of the referenced reports and assumes no duty to update audit status until the Annual and Quarterly Reports are filed.