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Acura Pharma delays Q2 report amid cash strain

ACURA PHARMACEUTICALS, INC (ACUR) reports that its Quarterly Report on Form 10-Q for the period ended June 30, 2026 will not be filed on time due to liquidity constraints affecting its ability to meet day-to-day operating obligations.

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

Rhea-AI Filing Summary

ACURA PHARMACEUTICALS, INC (ACUR) reports that its Quarterly Report on Form 10-Q for the period ended June 30, 2026 will not be filed on time due to liquidity constraints affecting its ability to meet day-to-day operating obligations. The company states it is working on funding solutions and is currently dependent on loans from Abuse Deterrent Pharma, LLC to fund operations, while acknowledging there is no assurance such loans will continue or be sufficient.

Acura discloses that it has not filed its Annual Reports on Form 10-K for the years ended December 31, 2022, 2023, 2024 and 2025, nor any Quarterly Reports on Form 10-Q for the fiscal years 2022 through 2025 and for the quarter ended March 31, 2026. It has halted its public accounting firm’s review of 2022 and 2023 quarterly results and audits of 2022 and 2023 annual results, and has not engaged an independent registered public accounting firm for 2024, 2025 or 2026. The company states that it cannot provide assurance it will be successful in filing these reports or securing funding solutions.

Positive

  • None.

Negative

  • Extensive SEC filing delinquencies: Acura has not filed Annual Reports for the years ended December 31, 2022–2025 and has not filed Quarterly Reports for any quarters in 2022–2025 or for the quarters ended March 31, 2026 and June 30, 2026, indicating prolonged reporting noncompliance.
  • Severe liquidity strain and funding uncertainty: The company cites liquidity and its ability to meet day-to-day operation obligations as the reason for the late 10-Q and states it is dependent on loans from Abuse Deterrent Pharma, LLC, with no assurance such loans will continue or be sufficient.
  • Suspended audits and lack of auditor engagement: Acura has halted its public accounting firm’s review of 2022–2023 quarterly results and audits of 2022–2023 annual results, and has not engaged an independent registered public accounting firm for 2024–2026, raising significant uncertainty around the reliability and timing of future financial statements.
  • No assurance on future filings: The company explicitly states it cannot provide assurance that it will be successful in filing any of the outstanding Annual or Quarterly Reports or in securing funding solutions, highlighting elevated going-concern and compliance risks.

Filing Explained

The filing invokes the Rule 12b-25 five-calendar-day extension for the June 30, 2026 Form 10-Q; the report remains unfiled, so the notice changes the deadline rather than completing the quarterly filing.

Quarterly period covered by delayed Form 10-Q Quarterly period ended June 30, 2026 Subject report for which the NT 10-Q is filed
Unfiled Annual Report periods Years ended December 31, 2022, 2023, 2024, 2025 Annual Reports on Form 10-K not filed
Unfiled Quarterly Report periods All quarters in 2022–2025, plus March 31, 2026 and June 30, 2026 Quarterly Reports on Form 10-Q not filed
Rule 12b-25 extension period for 10-Q Fifth calendar day following prescribed due date Maximum extension window for timely filing under the rule
Contact telephone number 847-705-7709 Telephone number for contact person Robert A. Seiser
Rule 12b-25 regulatory
"If the subject report could not be filed without unreasonable effort or expense"
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.
liquidity financial
"because of the Company’s liquidity including the Company’s ability"
Liquidity is how easily and quickly an asset or investment can be converted into cash without losing value. It matters to investors because higher liquidity means they can access their money quickly if needed, while lower liquidity can make it harder to sell assets promptly or at a fair price, potentially creating financial challenges. Think of it like trying to sell a common item versus a rare collectible—it's much easier to sell the common item fast.
independent registered public accounting firm financial
"We have not engaged the independent registered public accounting firm"
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.
day-to-day operation obligations financial
"used to meet day-to-day operation obligations, although no assurance"
Quarterly Report on Form 10-Q regulatory
"The Registrant’s Quarterly Report on Form 10-Q for the quarterly period"
A quarterly report on Form 10-Q is a standardized financial filing public companies must submit to U.S. regulators every three months, summarizing recent financial results, cash flows, balance sheet changes, operations and material risks or legal developments. Investors treat it like a company report card that shows up-to-date facts rather than marketing copy, helping them track performance, spot trends, reassess risk and make buy or sell decisions.

FAQ

Why is ACUR delaying its Form 10-Q for the quarter ended June 30, 2026?
Acura Pharmaceuticals cites liquidity issues, including its ability to meet day-to-day operation obligations, as the reason it cannot file the Form 10-Q for the quarter ended June 30, 2026 within the prescribed time period.

Which SEC reports has ACUR failed to file as disclosed in this NT 10-Q?
Acura has not filed Annual Reports on Form 10-K for the years ended December 31, 2022, 2023, 2024 and 2025 and has not filed Quarterly Reports on Form 10-Q for any quarters in 2022, 2023, 2024, 2025, plus the quarters ended March 31, 2026 and June 30, 2026.

What funding sources is ACUR relying on according to the filing?
Acura states it is dependent on the receipt of loans from Abuse Deterrent Pharma, LLC to meet day-to-day operation obligations, but no assurance is given that such loans will continue or be sufficient for longer-term needs.

What is the status of ACUR’s audits and reviews by its public accounting firm?
The company has halted its public accounting firm’s review services for 2022 and 2023 quarterly results and audit services for 2022 and 2023 annual results, and has not engaged an independent registered public accounting firm for 2024, 2025 or 2026.

Does ACUR expect significant changes in results of operations in the delayed 10-Q?
In the NT 10-Q, Acura answers “No” to whether it anticipates any significant change in results of operations from the corresponding period of the last fiscal year in the earnings statements to be included in the subject report.

Can ACUR assure investors it will file its outstanding SEC reports?
No. Acura states it cannot provide assurance that it will be successful in filing any of the outstanding Annual or Quarterly Reports or in securing funding solutions, and assumes no duty to update the status until those reports are filed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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:   June 30, 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 June 30, 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, 2025 as well as for the quarterly period ended March 31, 2026. 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 periods ending March 31, 2026 and June 30, 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:   August 26, 2026   By: /s/ Robert A. Seiser, Senior VP & CFO

 

 

 

Source: View Original Filing on SEC EDGAR