Acura Pharmaceuticals Restructures Debt With $1.8 Million Loan

Acura Pharmaceuticals, Inc. (ACUR), a specialty pharmaceutical company focused on innovating abuse deterrent drugs, today announced that on October 5, 2018 we restructured our debt obligations by (a) receiving an additional $1.8 million loan from John Schutte and (b) retiring in full our senior secured debt with Oxford Finance for a payment of $1.5 million.  Mr. Schutte’s loans to the Company total $4.0 million. Pursuant to the terms of Mr. Schutte’s debt, after the retirement of the Oxford Finance debt, the Company is required to grant him a security interest in its assets.  The balance of Mr. Schutte’s loan will extend our operations into November 2018 while the Company remains focused on licensing its lead asset LTX-03. In the absence of closing a licensing agreement upon acceptable terms or securing additional funding, Acura will be required to scale back or terminate operations and/or seek protection under applicable bankruptcy laws.

Source :

Thank you for visit my website
Acura Pharmaceuticals, Inc. (ACUR)
Your Daily Pharma Scoop: Ardelyx Reports Data, Omeros Moves Forward With OMS721, Allergan Announces Job Cuts
Bruce Berkowitz: The megamind of Miami
Meet the Rising Stars on Wall Street shaking up investing, trading and dealmaking
Pernix Therapeutics Holdings, Inc. (PTX) CEO John Sedor on Q2 2018 Results - Earnings Call Transcript
Sears is Among the Companies That Likely Won't See 2019
Acura Pharmaceuticals, Inc. (ACUR)