ACURA PHARMACEUTICALS, INC: debt financing — Acura extends NDA acceptance date for LTX-03 and note maturity to June 30, 2024

Amendment #2 has an effective date of March 15, 2024 and changes the maturity date of the Note from March 31, 2024 to June 30, 2024, at which time all principal and interest is due.

On March 25, 2024, Acura Pharmaceuticals, Inc. (“we” “Acura” or the “Company”), received the executed agreement to further amend the June 28, 2019 License, Development and Commercialization Agreement (“Agreement”) with Abuse Deterrent Pharma, LLC (“AD Pharma”), for the development of LTX-03 (hydrocodone bitartrate with acetaminophen) immediate-release tablets utilizing Acura’s patented LIMITx technology which addresses the consequences of excess oral administration of opioid tablets, the most prevalent route of opioid overdose and abuse. The amendment to the Agreement extends the FDA’s acceptance date of a New Drug Application (“NDA”) for LTX-03 to June 30, 2024 (“NDA Acceptance Date”) (“Amended Agreement”).

On March 25, 2024, Acura Pharmaceuticals, Inc. (“we” “Acura” or the “Company”), received the executed agreement to further amend the November 10, 2022 Amended, Consolidated and Restated Secured Promissory Note (the “Note”) with Abuse Deterrent Pharma, LLC (“AD Pharma”). Amendment #2 has an effective date of March 15, 2024 and changes the maturity date of the Note from March 31, 2024 to June 30, 2024, at which time all principal and interest is due. As of March 15, 2024, the Note’s principal balance was $5,419,279, bears interest at 5.25%, and had an accrued interest balance of approximately $265,000.