Acurx Pharmaceuticals, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

INCOME TAXES (Tables)

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME TAXES

Schedule of components of net deferred income tax asset

		December 31, 2023			December 31, 2022
Deferred tax assets
Net operating loss carry forwards		$	5,517,038		$	3,359,183
Share-based compensation			3,255,964			2,262,381
Research and development credit carryforwards			331,671			141,671
Capitalized research and development			2,807,846			1,347,028
Other			10,945			—
Gross deferred tax assets			11,923,464			7,110,263
Less valuation allowance			(11,923,464)			(7,110,263)
Net deferred tax asset		$	—		$	—

Summary of reconciliation of income tax expense (benefit)

		December 31, 2023		December 31, 2022
Federal income tax expense at statutory rate		21.0	%	21.0	%
State income tax, net of federal benefit		10.4		14.4
Permanent differences		1.6		(0.5)
Research and development tax credit		—		0.3
Change in valuation allowance		(33.0)		(35.2)
Effective income tax rate		—	%	—	%