Announcement • Jun 30
Exicure, Inc. Announces Board and Committee Changes, Effective June 30, 2026 Exicure, Inc. announced that the Company's Board of Directors accepted the resignation of Jung Kyu Ham as a director, effective June 30, 2026. The Board appointed Jin Young Go as a Class III director to fill the vacancy created by Mr. Ham's resignation. The Board approved an increase in the size of the Board from five to six directors and appointed Eui Seok Han as a Class III director to fill the newly created directorship. Both appointments are effective June 30, 2026. Following a review of the applicable Nasdaq independence standards, the Board determined that Eui Seok Han qualifies as an independent director under the Nasdaq Listing Rules. The Board established a Compensation Committee comprised of Eui Seok Han (Chair) and Dongho Lee, effective June 30, 2026. The Company's Board of Directors approved these actions at its special meeting held on June 24, 2026. Announcement • May 16
Exicure, Inc. announced delayed 10-Q filing On 05/15/2026, Exicure, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Mar 28
Exicure, Inc. Announces Resignation of Director Sangjin Yeo from Board and Audit Committee, Effective March 27, 2026 Exicure, Inc. announced that on March 25, 2026, Sangjin Yeo submitted his resignation from the Board of Directors and the Audit Committee of the Board of Exicure, Inc., effective as of March 27, 2026. This resignation did not result from any disagreement regarding any matter related to the operations, policies or practices of the Company. Announcement • Feb 06
Exicure, Inc. Announces Publication in Annals of Hematology Highlighting Rapid Stem Cell Mobilization with Burixafor in Patients with Multiple Myeloma and Lymphoma Undergoing Transplant Exicure, Inc. announced the publication of results from a prior Phase 2 clinical study evaluating burixafor (GPC-100/TG-0054), a highly selective CXCR4 inhibitor, in the journal Annals of Hematology. The manuscript, titled "Burixafor, a CXCR4 Inhibitor with a Differentiated Kinetics Profile: Results of a Phase 2 Study for Rapid Cell Mobilization in Multiple Myeloma and Lymphoma Patients Undergoing Transplant," reports results from a 12-participant, multi-center, open-label Phase 2 study (NCT02104427) evaluating burixafor in combination with granulocyte colony-stimulating factor (G-CSF) in patients with multiple myeloma (MM), non-Hodgkin's lymphoma (NHL), and Hodgkin disease (HD) undergoing autologous stem cell transplantation (ASCT). In the study, 11 of 12 participants (92%) met the primary endpoint of collecting 5.0 x 106 CD34+ cells/kg within two leukapheresis sessions, with six participants achieving the target in a single session. Median time to neutrophil and platelet engraftment was 12 and 22 days, respectively. Burixafor was generally well tolerated, with only two treatment-related adverse events reported, both low grade. Notably, peak mobilization of CD34+ cells occurred within one hour of burixafor administration, substantially faster than currently approved CXCR4 inhibitors, which typically peak 10-14 hours after dosing. In participants with MM, lymphocyte counts increased by up to 11-fold within hours of burixafor administration., supporting potential applicability in gene therapy, CAR-T, and other gene-editing workflows that require efficient peripheral blood cell collection. Announcement • Dec 09
Exicure, Inc. Presents Positive Topline Phase 2 Data for Burixafor in Multiple Myeloma At 2025 Ash Annual Meeting Exicure, Inc. announced positive results from its completed Phase 2 trial evaluating burixafor (GPC-100) in combination with propranolol and granulocyte colony-stimulating factor (G-CSF) for the mobilization of hematopoietic progenitor cells (HPCs) in patients with multiple myeloma undergoing autologous hematopoietic cell transplantation (AHCT). The data, which showed that approximately 90% of study participants achieved the primary endpoint, were presented in an oral session at the 67th American Society of Hematology (ASH) Annual Meeting in Orlando, Florida. Burixafor is an investigational small molecule that blocks CXCL12 binding to CXCR4 receptors on HPCs, rapidly mobilizing these cells from the bone marrow into the peripheral blood. In preclinical studies, propranolol enhanced burixafor-induced mobilization by inhibiting the b2-adrenergic receptor (b2AR). In the open-label, multicenter Phase 2 trial (NCT05561751), 17 of 19 participants (89.5%) achieved the primary endpoint of collecting 2 x 106 CD34+ cells/kg within two leukapheresis sessions. Two required another session to achieve 2x106 CD34+ cells/kg. Among participants who proceeded to transplant, the median time to neutrophil engraftment was 13 days, and the median time to platelet engraftment was 17.5 days. Burixafor has a differentiated and rapid mobilization kinetics, with peak peripheral levels of CD34+ cells observed within one hour of administration. This distinguishes it from other CXCR4 inhibitors and allows for same day burixafor administration and apheresis. Oral Presentation Details: Abstract Number: 1050 Title: An open-label, multi-center Phase 2 study to assess the safety and efficacy of burixafor (G PC-100) and propranolol with G-CSF for the mobilization of hematOPoietic progenitor cell in patients with multiple myelom. Burixafor (GPC -100) is a highly selective small molecule antagonist of CXCR4, a chemokine receptor that plays a central role in retaining hematopoietic stem cells in the bone marrow niche. By blocking CXCR4, burixafor may enhance the mobilization of these cells into the peripheral blood for collection and use in autologous stem cell transplant (ASCT) procedures. Originally developed by GPCR Therapeutics, Inc., burixafor became part of Exicure's pipeline following the company's acquisition in January 2025. In addition to multiple myeloma, burixafor is also being considered in other diseases where improved stem cell mobilization could help enable more efficient and effective treatment approaches, such as sickle cell disease, rare diseases requiring autologous transplant, and cell and gene therapy settings. A chemosensitization trial in AML is also being planned, leveraging burixafor's mechanism of mobilizing malignant cells from protective bone marrow niches into the peripheral blood, where they may be more effectively targeted by chemotherapy. New Risk • Dec 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$8.5m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (145% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$34.3m market cap). New Risk • Nov 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$5.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.5m free cash flow). Shareholders have been substantially diluted in the past year (245% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$25.0m market cap). Board Change • Oct 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Dongho Lee is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Sep 24
Exicure, Inc., Annual General Meeting, Nov 06, 2025 Exicure, Inc., Annual General Meeting, Nov 06, 2025. Announcement • Sep 11
Exicure, Inc. Announces Board Changes Exicure, Inc. on September 8, 2025, the Board of Directors (the “Board”) of Exicure, Inc. (the “Company”) appointed (i) Sangjn Yeo and (ii) Aejin Hwang to the Board to serve, until a successor has been duly elected and qualified or until an earlier death, resignation or removal. Each of Mr. Yeo and Ms. Hwang will serve as a Class II director for a term expiring at the Company’s 2025 annual meeting of stockholders. The Board also appointed these two directors to the audit committee of the Board, and appointed Mr. Yeo as the Chairman of the audit committee. On September 8, 2025, (i) Ho Jung John, (ii) Chang Keun Choi, (iii) Sangwook Song, and (iv) Minwoo Kang resigned from the Board of the Company, effective immediately as of such date. The resignations of all four of these Board members did not result from any disagreement regarding any matter related to the operations, policies or practices of the Company. There are four vacancies on the Board after the elections and resignations noted above.
There are no family relationships between the two newly appointed directors and any director or executive officer of the Company.
For their services on the Board, the two newly appointed directors will receive an annual retainer of $20,000. The Company also intends to enter into the Company’s standard form of indemnification agreement with the two newly appointed directors. Board Change • Aug 15
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Dongho Lee is the most experienced director on the board, commencing their role in 2023. Independent Director Min Kang was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Aug 02
Exicure, Inc. Completes the Last Patient, Last Visit in Phase 2 Study of GPC-100 for Stem Cell Mobilization in Multiple Myeloma Patients Undergoing Autologous Transplant Exicure, Inc. announced it has completed the last patient, last visit in its ongoing Phase 2 clinical trial (NCT05561751) evaluating the safety and efficacy of GPC-100 (burixafor) in combination with propranolol and G-CSF in multiple myeloma patients undergoing autologous stem cell transplant (ASCT). Topline results from the study are expected in the fourth quarter of 2025. The randomized, open-label, multicenter study is designed to assess whether GPC-100, a small molecule CXCR4 antagonist, can improve CD34+ hematopoietic stem cell mobilization from the bone marrow into the peripheral blood, where they can be collected via leukapheresis for use in ASCT. In data presented at ASH 2024, GPC-100 appears to be well differentiated in terms of the speed with which it mobilizes stem cells compared to currently approved stem cell mobilization treatments. In addition to multiple myeloma and a planned Phase 1 study in acute myeloid leukemia (AML) patients, the company is also in discussions for potential collaborations that would utilize GPC-100's rapid and safe mobilization of stem cells in cell and gene therapy settings. Announcement • May 29
Exicure, Inc. Receives Nasdaq Delinquency Notice on Late Filing of Its Form 10-Q Exicure, Inc. (Exicure" or the Company") announced it received a notice of non-compliance from Nasdaq Stock Market LLC (Nasdaq") on May 21, 2025 notifying the Company that, as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q by May 20, 2025 for the quarterly period ended March 31, 2025 (the Form 10-Q"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the Rule"), which requires listed companies to timely file all periodic financial reports with the U.S. Securities and Exchange Commission (the SEC"). Under Nasdaq's listing rules, Exicure has 60 calendar days to submit a plan to regain compliance. If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the Form 10-Q due date, or until November 17, 2025, to regain compliance. The Company is working diligently to complete its Form 10-Q and intends to file the Form 10-Q as soon as practicable to regain compliance with the Rule. Announcement • May 16
Exicure, Inc. announced delayed 10-Q filing On 05/15/2025, Exicure, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • May 06
Exicure Completes Patient Enrollment in Phase 2 Study of Gpc-100 for Stem Cell Mobilization in Multiple Myeloma Patients Undergoing Autologous Transplant Exicure, Inc. announced it has completed patient enrollment in its ongoing Phase 2 clinical trial (NCT05561751) evaluating the safety and efficacy of GPC-100 (burixafor) in combination with propranolol and G-CSF in multiple myeloma patients undergoing autologous stem cell transplant (ASCT). The randomized, open-label, multicenter study is designed to assess whether GPC-100, a small molecule CXCR4 antagonist, can improve CD34+ hematopoietic stem cell mobilization from the bone marrow into the peripheral blood, where they can be collected via leukapheresis for use in ASCT. Topline results from the study are expected in Fall 2025. In addition to multiple myeloma, the Company is planning a Phase 1 chemosensitization study in patients with relapsed or refractory acute myeloid leukemia (AML). A previous chemosensitization trial was conducted by Taigen in China, and discussions with Key Opinion Leaders (KOLs) are underway to determine the best combination strategy to consider. The company is also exploring GPC-100's potential applications in other diseases where improved stem cell mobilization could help enable more efficient and effective treatment approaches, such as sickle cell disease, rare diseases requiring autologous transplant, and cell and gene therapy settings. Announcement • Apr 12
Exicure, Inc. Announces Their Next Step in Planning for A New Clinical Trial in Acute Myeloid Leukemia (AML) Exicure, Inc. shared updates on its lead asset, GPC-100 (burixafor), a small molecule CXCR4 inhibitor. Exicure, Inc. is planning for a clinical trial in Acute Myeloid Leukemia (AML) with GPC-100. The company believes that GPC-100, when paired with modern AML treatment regimens, can further improve outcomes in this high unmet need clinical indication. A Phase 1 chemosensitization study involving 15 patients with relapsed or refractory AML was previously conducted by Taigen, the original developer of GPC-100. In that study, GPC-100 was combined with fludarabine and cytarabine to evaluate safety and preliminary efficacy. Preclinical data published by Dr. Pam Becker at City of Hope in collaboration with GPCR Therapeutics USA, a subsidiary of Exicure, demonstrated that dual inhibition of CXCR4 with GPC-100 and beta-2 adrenergic receptor blockade led to improved chemotherapy response (2024 American Society of Hematology Annual meeting: Poster #2758). This therapeutic approach is protected by an expanded patent portfolio granted in the United States, Japan, Australia, and Taiwan. In addition to AML, GPC-100 is currently being evaluated in an ongoing Phase 2 trial in patients with multiple myeloma (MM) undergoing autologous stem cell transplant (ASCT; NCT05561751). Clinical trial results for this study are expected in fourth quarter 2025. Current Evaluating Potential Indication Expansions - In addition to AML and MM, Exicure is evaluating a range of potential indications for GPC-100, including sickle cell disease, pediatric oncology, and cell and gene therapy settings. Announcement • Mar 08
Exicure, Inc. Announces Board Resignations On February 28, 2025, Jiyoung Hwang resigned from the Board of Directors of Exicure, Inc. (the Company) for personal reasons, effective immediately as of such date. Her resignation did not result from any disagreement regarding any matter related to the operations, policies or practices of the Company. On February 1, 2025, the Company and Paul Kang came to an understanding that they would execute an agreement by which Mr. Kang would provide transitional consulting services to the Company for the next 12 months, and such agreement was executed on February 27, 2025. In conjunction with the execution of this consulting agreement, Mr. Kang resigned from the Board for personal reasons, effective as of March 3, 2025. His resignation did not result from any disagreement regarding any matter related to the Company’s operations, policies or practices of the Company. New Risk • Nov 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (47% average weekly change). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (US$500k revenue). Minor Risk Market cap is less than US$100m (US$83.4m market cap). Announcement • Nov 28
Exicure, Inc. Announces Board Changes Exicure, Inc. announced that in connection with the closing of the Common Stock Purchase Agreement between the Exicure, Inc. (the “Company’) and HiTron Systems Inc. executed on November 12, 2024, on November 21, 2024, the Board of Directors of the Company appointed Andy Yoo and Seung Ik Baik to the Board. Mr. Yoo will serve as a Class I director for a term expiring at the Company’s 2027 annual meeting of stockholders, or until his successor has been duly elected and qualified, or until his earlier death, resignation or removal. Mr. Baik will serve as a Class III director for a term expiring at the Company’s 2026 annual meeting of stockholders, or until his successor has been duly elected and qualified, or until his earlier death, resignation or removal. There are no family relationships between Mr. Yoo or Mr. Baik and any director or executive officer of the Company. The Board also appointed Mr. Yoo as the Chief Restructuring Officer of the Company and entered into an employment agreement with Mr. Yoo effective November 21, 2024. On November 21, 2024, Hojoon Lee resigned from the Board for personal reasons, effective immediately as of such date. His resignation did not result from any disagreement regarding any matter related to the operations, policies or practices of the Company. On November 21, 2024, Eui Yull Hwang resigned from the Board for personal reasons, effective immediately as of such date. His resignation did not result from any disagreement regarding any matter related to the Company’s operations, policies or practices of the Company. Announcement • Nov 15
Exicure Request for Subsequent Extension to Nasdaq Hearings Panel Till December 17 As previously disclosed, the Nasdaq Hearings Panel granted an extension through November 14, 2024 to continue the Exicure, Inc.'s listing subject to the Company evidencing compliance with all applicable criteria for continued listing on The Nasdaq Capital Market. As of September 30, 2024, the Company did not meet the continued listing requirement related to stockholders’ equity, primarily due to the litigation accrual described below. However, the Company believes it will be in pro forma compliance with the stockholders’ equity requirement once the $1.3 million sale to HiTron closes. Therefore, the Company has requested an additional extension through December 17, 2024. We cannot provide any assurance as to whether the Panel will grant the extension or, if granted, whether we can adequately demonstrate to the Panel’s satisfaction that we have regained, and will be able to maintain, compliance with the continued listing standards in order to avoid delisting. New Risk • Oct 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.8m free cash flow). Share price has been highly volatile over the past 3 months (40% average weekly change). Revenue is less than US$1m (US$500k revenue). Market cap is less than US$10m (US$4.95m market cap). Minor Risk Shareholders have been diluted in the past year (6.0% increase in shares outstanding). Announcement • Sep 19
Nasdaq Hearings Panel Grants Exicure Extension for Continued Listing on The Nasdaq Capital Market, Compliance Required by November 14, 2024 Exicure, Inc. (the ‘Company’) announced that on September 17, 2024, the Company received notice that the Nasdaq Hearings Panel (‘Panel’) granted an extension to continue the Company’s listing subject to the Company evidencing compliance with all applicable criteria for continued listing on The Nasdaq Capital Market by November 14, 2024. The Company is diligently working to timely satisfy the terms of the Panel’s requests and to ensure the Company’s continued listing on Nasdaq. As previously announced, the Company has regained compliance with Nasdaq’s minimum bid price requirement and exchanged approximately $1,000,000 of indebtedness for equity at a conversion price of $3.00 per share. Announcement • Sep 14
Exicure Regains Compliance with the Minimum Bid Price Requirement Under Nasdaq Listing Rule 5550(a)(2) On September 13, 2024, Exicure, Inc. received notice from The Nasdaq Stock Market LLC (Nasdaq) that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) as a result of the closing bid price of the Company's common stock being $1.00 per share or greater for 10 consecutive trading sessions. The Company is now compliant with the minimum bid price listing standard for continued Nasdaq listing. Announcement • Aug 27
Exicure Announces 1-for-5 Reverse Stock Split to Regain Compliance with Nasdaq’s Listing Rules Exicure, Inc. (‘the Company’) announced that it will effect a 1-for-5 reverse stock split of its outstanding shares of common stock (the ‘Reverse Stock Split’). The Company expects that the Reverse Stock Split will become effective at 5:00 pm on August 27, 2024, and its common stock will begin trading on a split-adjusted basis at the open of trading on August 28, 2024 under the new CUSIP number 30205M 309. Exicure’s common stock will continue to trade on the NASDAQ Capital Market under the symbol ‘XCUR’. The Reverse Stock Split is an effort to regain compliance with Nasdaq’s listing rules. The Reverse Stock Split was approved by the Company’s stockholders at its Special Meeting of Stockholders held on August 20, 2024, to be effected by the Company’s Board of Directors within approved parameters. The Company’s Board of Directors approved the Reverse Stock Split at a ratio of 1-for-5 on August 20, 2024. Board Change • Aug 15
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. Member of Advisory Board Henry Paulson is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Aug 09
Exicure, Inc. Appoints Anna Chukaeva as Senior Vice President, Head of Corporate Development and Bioinformatics Exicure, Inc. announced that Anna Chukaeva has been appointed as Senior Vice President, Head of Corporate Development and Bioinformatics of Exicure, Inc. Anna will spearhead investments, acquisitions, and strategic partnerships. She will also push into leveraging data and AI for drug discovery and diagnostics. Anna was the co-founder, President and COO of Carta Healthcare, an AI healthcare data company which has raised over $50 million in venture financing. While leading operations for 5 years, she directly led the 40-person, multi-national engineering and product team to design and develop enterprise-scale data software products adopted by hospital systems nationwide. She received a bachelor’s degree in mathematics, a master’s in economics, and an MBA from Stanford. Announcement • Aug 02
Exicure Receives Positive Listing Determination from Nasdaq Exicure, Inc. announced that on July 31, 2024, the Company received formal notice that the Nasdaq Hearings Panel has determined to continue the Company’s listing subject to the Company evidencing compliance with all applicable criteria for continued listing on The Nasdaq Capital Market by September 16, 2024. The Company is diligently working to timely satisfy the terms of the Panel’s decision and to ensure the Company’s continued listing on Nasdaq. Announcement • Jun 26
Exicure Receives Non-Compliance Letter Regarding Nasdaq Listing Rule 5550(b)(1) On June 20, 2024, Exicure, Inc. (the ‘Company’) received a delinquency notification letter (the ‘Letter’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that the Company is not in compliance with Nasdaq Listing Rule 5550(b)(1) (the ‘Rule’), which requires listed companies to maintain a minimum of $2,500,000 in stockholders' equity for continued listing. The Company plans to address this additional deficiency in its previously disclosed pending appeal to the Nasdaq Hearings Panel, which is scheduled to be heard on July 9, 2024. The Company is working diligently to regain compliance with the Rule. Announcement • Jun 13
Exicure, Inc., Annual General Meeting, Jun 28, 2024 Exicure, Inc., Annual General Meeting, Jun 28, 2024. Announcement • May 24
Exicure, Inc. Receives Nasdaq Notice of A Delisting Determination Exicure, Inc. (“Exicure” or the “Company”) announced it received notice of a delisting determination (the “Staff Delisting Determination”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”). The Staff Delisting Determination notified the Company that since it has not yet filed its Form 10-K for the year ended December 31, 2023 (the “Form 10-K”) per Nasdaq Listing Rule 5250(c)(1) (the “Rule”) by Nasdaq’s extended deadline of May 20, 2024 pursuant to the previously granted exception, trading of the Company’s common stock would be suspended from The Nasdaq Capital Market at the opening of business on May 30, 2024, unless the Company requests an appeal of the Staff Delisting Determination by May 28, 2024. In addition, unless an appeal is timely requested, a Form 25-NSE would be filed with the Securities and Exchange Commission (the “SEC”), which would remove the Company’s securities from listing and registration on Nasdaq. In addition to the delinquency related to the Form 10-K, the Staff Delisting Determination noted the Company’s delinquency under the Rule because of its failure to file its Form 10-Q for the first quarter of 2024 (the “Q1 Form 10-Q”) and the Company’s continued delinquency under Rule 5620 because it has not held its 2023 Annual Meeting of Stockholders, each as an additional and separate basis for delisting that should be addressed in any appeal. The Company intends to file an appeal to Nasdaq’s Hearings Panel by the May 28, 2024 deadline and subsequently submit its plan to regain compliance with all applicable listing requirements. This request for an appeal, if timely submitted, would automatically stay the suspension of trading in the Company’s securities for a period of 15 days from the date of the request. The Company intends to seek an extended stay pending the hearing, although no assurance can be provided that such an extension would be granted. The Company’s management is working diligently to complete the Form 10-K and First Quarter Form 10-Q and intends to file the Form 10-K and First Quarter Form 10-Q as soon as practicable. Announcement • May 17
Exicure, Inc. announced delayed 10-Q filing On 05/15/2024, Exicure, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 02
Exicure, Inc. announced delayed annual 10-K filing On 04/01/2024, Exicure, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Market cap is less than US$10m (US$5.62m market cap). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Board Change • Feb 14
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Member of Advisory Board Henry Paulson is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Jan 17
Exicure Receives Non-Compliance Notice From Nasdaq On January 11, 2024, Exicure, Inc. (the “ Company ”) received a delinquency notification letter (the “ Letter ”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that since it has not yet held an annual meeting of shareholders within twelve months of the end of the Company’s December 31, 2022 fiscal year end, the Company is not in compliance with Nasdaq Listing Rule 5620(a), which requires listed companies to hold an annual meeting of shareholders. The Letter states that, the Company has 45 calendar days to submit a plan addressing how it intends to regain compliance with Nasdaq’s listing rules and, if Nasdaq accepts the Company’s plan, it may grant an extension of up to 180 calendar days from the Company’s fiscal year end, or until June 28, 2024, to regain compliance. The Company intends to submit a plan and seek such an extension to regain compliance within these time frames. Announcement • Nov 29
Exicure Receives Nasdaq Delinquency Notice on Late Filing of its Form 10-Q Exicure, Inc. announced it received a notice of non-compliance from Nasdaq Stock Market LLC on November 22, 2023 notifying the Company that, as a result of the Company’s failure to timely file its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all periodic financial reports with the U.S. Securities and Exchange Commission. Under Nasdaq’s listing rules, Exicure has 60 calendar days to submit a plan to regain compliance. If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the Form 10-Q due date, or until May 20, 2024, to regain compliance. The Company is working diligently to complete its Form 10-Q and intends to file the Form 10-Q as soon as practicable to regain compliance with the Rule. Announcement • Nov 15
Exicure, Inc. announced delayed 10-Q filing On 11/14/2023, Exicure, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Sep 28
Exicure, Inc. Appoints Minhee Eom to the Board Exicure, Inc. appointed Minhee Eom to the Board, effective September 26, 2023. Ms. Eom will serve as a Class II director for a term expiring at the Company's 2025 annual meeting of stockholders, or until her successor has been duly elected and qualified, or until her earlier death, resignation or removal. Ms. Eom will serve on the Audit Committee of the Board. Announcement • Sep 14
Exicure Receives Non-Compliance Notice From Nasdaq On September 13, 2023, Exicure, Inc. (the “Company”) received a letter (the “Notice”) from the staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the previous 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”), the Company has been provided an initial period of 180 calendar days, or until March 11, 2024 (the “Compliance Date”), to regain compliance with the Bid Price Requirement. If, at any time before the Compliance Date, the bid price for the Company’s common stock closes at $1.00 or more for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it has regained compliance with the Bid Price Requirement, unless the Staff exercises its discretion to extend this 10-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H). If the Company does not regain compliance with Rule 5550(a)(2) by the Compliance Date, the Company may be eligible for additional time. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Bid Price Requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, Nasdaq may grant the Company an additional 180 calendar days to regain compliance with the Bid Price Requirement. If the Company does not regain compliance with the Bid Price Requirement by the Compliance Date and is not eligible for an additional compliance period at that time, the Staff will provide written notification to the Company that its common stock will be delisted. At that time, the Company may appeal the Staff’s delisting determination to the Nasdaq Listing Qualifications Panel (the “Panel”). However, there would be no assurance that, if the Company receives a delisting notice and appeals the delisting determination by the Staff to the Panel, such appeal would be successful. The Company intends to monitor the closing bid price of its common stock and will consider options available to it (including effecting a reverse stock split, if necessary) to achieve compliance with the Bid Price Requirement. Board Change • Aug 15
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 3 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Member of Advisory Board Henry Paulson is the most experienced director on the board, commencing their role in 2019. Independent Director Chang-il Ahn was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Aug 06
Exicure Notifies Nasdaq Regarding Continued to be Not in Compliance with Rule 5605(c)(2)(A) On August 4, 2023, Exicure, Inc. notified the Listing Qualifications Department of The Nasdaq Stock Market LLC that, as a result of the resignation of Cheolho Jo from the Company’s Board and Audit Committee, the Company continued to be not in compliance with Rule 5605(c)(2)(A). The Company is searching for qualified candidates to add as independent directors to the Company’s Board and Audit Committee in order to meet the requirements of Rule 5605(c)(2)(A). As previously disclosed, on May 10, 2023, the Company received notice from The Nasdaq Stock Market LLC (‘Nasdaq’) that, as a result of the departure of one member of the Audit Committee (the ‘Audit Committee’) of the Company’s board of directors (the ‘Board’), the Company was no longer in compliance with Nasdaq Listing Rule 5605(c)(2)(A), which requires the audit committee of a listed company’s board of directors to be composed of at least three independent directors (‘Rule 5605(c)(2)(A)’). Announcement • May 22
Exicure Receives Nasdaq Delinquency Notice on Late Filing of its Form 10-Q On May 19, 2023, Exicure, Inc. announced that it received a notice of non-compliance from Nasdaq Stock Market LLC (‘Nasdaq’) on May 17, 2023 notifying the company that, as a result of the company’s failure to timely file its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 (the ‘Form 10-Q’), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the ‘Rule’), which requires listed companies to timely file all periodic financial reports with the U.S. Securities and Exchange Commission (the ‘SEC’). Under Nasdaq’s listing rules, the company has 60 calendar days to submit a plan to regain compliance. If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the Form 10-Q due date, or until November 13, 2023, to regain compliance. The Company is working diligently to complete its Form 10-Q and intends to file the Form 10-Q as soon as practicable to regain compliance with the Rule. Announcement • May 18
CBI USA Inc Sends a Letter to Exicure Inc On May 17, 2023, CBI USA Inc announced that it has sent a letter to Exicure Inc, stating that it believes that without a recomposed board with strong accountability there is a significant chance that the Company will have to file bankruptcy and the value destruction for the shareholders may become irreparable, and proposing that each of Cheolho Jo, Chang-il Ahn and Jung-Sang Kim resign due to their continuing failure to act in the interests the Company and the stockholders and be replaced by its proposed bard nominees. In addition, CBI USA stated that if the Company continue to arbitrarily refuse the request it has made for shareholder representation, it will promptly pursue all available legal options, and expressly reserve the right to seek all remedies available to us under the law and at equity and under the SPA, and immediately take whatever actions it feels is necessary to protect the value of the Company. Announcement • May 16
Exicure, Inc. announced delayed 10-Q filing On 05/15/2023, Exicure, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Apr 13
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Member of Advisory Board Henry Paulson is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Feb 12
Exicure, Inc. Announces Resignation of Jeffrey L. Cleland from the Board of Directors, Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee On February 7, 2023, Jeffrey L. Cleland, Ph.D. tendered his resignation from the Board of Directors (the “Board”) of Exicure, Inc. (the “Company”) as well as from the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board, effective as of the earlier of: (1) the closing date of the Private Placement, or (2) February 10, 2023. Effective February 10, 2023, Dr. Cleland resigned from the Board, the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board. Announcement • Jan 23
Exicure Receives Notice from Nasdaq Regarding No Longer in Compliance with Nasdaq's Independent Director and Audit Committee Requirements On January 19, 2023, Exicure, Inc. received notice from The Nasdaq Stock Market LLC (‘Nasdaq’) that the Company is no longer in compliance with Nasdaq’s independent director and audit committee requirements as set forth in Nasdaq Listing Rule 5605, which requires the board of directors to be comprised of a majority of independent directors and the audit committee of the board of directors to be comprised of three independent directors (the ‘Listing Requirement’). Pursuant to Nasdaq Listing Rules 5605(b)(1)(A) and 5605(c)(4), the Company is entitled to a cure period to regain compliance with the Listing Requirement, which cure period will expire at the earlier of the Company’s 2023 annual meeting of stockholders (the ‘2023 Annual Meeting’) or December 30, 2023. If the Company holds its 2023 Annual Meeting before June 28, 2023, then the Company must evidence compliance with the Listing Requirement no later than June 28, 2023. The Company is actively searching for a qualified candidate to add as an independent director and intends to appoint such independent director to the Company’s Board of Directors (the ‘Board’) and Audit Committee prior to the end of the cure period. Announcement • Jan 22
Exicure, Inc. Announces Resignation of Jiyoung Hwang from the Board of Directors On January 16, 2023, Jiyoung Hwang tendered her resignation from the Board of Exicure, Inc., effective immediately as of such date. Ms. Hwang’s resignation did not result from any disagreement regarding any matter related to the Company’s operations, policies or practices. Reported Earnings • Aug 17
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: US$1.66 loss per share (up from US$4.86 loss in 2Q 2021). Revenue: US$2.47m (up US$2.39m from 2Q 2021). Net loss: US$7.47m (loss narrowed 48% from 2Q 2021). Revenue missed analyst estimates by 43%. Earnings per share (EPS) also missed analyst estimates by 38%. Reported Earnings • May 18
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: US$0.069 loss per share (up from US$0.14 loss in 1Q 2021). Net loss: US$8.35m (loss narrowed 33% from 1Q 2021). Revenue missed analyst estimates by 40%. Earnings per share (EPS) were mostly in line with analyst estimates. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 2 experienced directors. No highly experienced directors. Independent Director Jeff Cleland is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Price Target Changed • Aug 31
Price target decreased to US$6.75 Down from US$9.60, the current price target is an average from 5 analysts. New target price is 382% above last closing price of US$1.40. Stock is down 29% over the past year. Major Estimate Revision • Aug 20
Consensus revenue estimates increase to US$12.9m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from US$5.92m to US$12.9m. Forecast losses expected to reduce from -US$0.57 to -US$0.53 per share. Biotechs industry in the US expected to see average net income decline 26% next year. Consensus price target of US$9.00 unchanged from last update. Share price fell 3.4% to US$1.15 over the past week. Reported Earnings • Aug 18
Second quarter 2021 earnings released: US$0.16 loss per share (vs US$0.049 loss in 2Q 2020) Second quarter 2021 results: Net loss: US$14.3m (loss widened 231% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 13
Consensus revenue estimates increase to US$22.1m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from US$5.92m to US$22.1m. Forecast losses expected to reduce from -US$0.57 to -US$0.51 per share. Biotechs industry in the US expected to see average net income decline 19% next year. Consensus price target down from US$9.60 to US$9.00. Share price fell 9.2% to US$1.19 over the past week. Price Target Changed • Aug 13
Price target decreased to US$9.00 Down from US$10.00, the current price target is an average from 5 analysts. New target price is 638% above last closing price of US$1.22. Stock is down 45% over the past year. Major Estimate Revision • May 19
Consensus revenue estimates fall to US$5.77m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from US$8.91m to US$5.77m. Forecast losses increased from -US$0.51 to -US$0.58 per share. Biotechs industry in the US expected to see average net income decline 8.7% next year. Consensus price target down from US$10.00 to US$9.60. Share price fell 12% to US$1.54 over the past week. Price Target Changed • May 18
Price target decreased to US$9.60 Down from US$10.50, the current price target is an average from 5 analysts. New target price is 558% above last closing price of US$1.46. Stock is down 46% over the past year. Reported Earnings • May 13
First quarter 2021 earnings released: US$0.14 loss per share (vs US$0.013 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: US$997.0k (down 89% from 1Q 2020). Net loss: US$12.5m (down US$13.6m from profit in 1Q 2020). Executive Departure • May 01
Co-Founder & Director Chad Mirkin has left the company On the 30th of April, Chad Mirkin's tenure as Co-Founder & Director ended after 9.9 years in the role. As of December 2020, Chad personally held 98.59k shares (US$174k worth at the time). A total of 4 executives have left over the last 12 months. Major Estimate Revision • Mar 18
Consensus revenue estimates increase to US$8.91m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from US$6.96m to US$8.91m. Forecast losses expected to reduce from -US$0.55 to -US$0.51 per share. Biotechs industry in the US expected to see average net income growth of 4.2% next year. Consensus price target of US$10.00 unchanged from last update. Share price rose 31% to US$2.54 over the past week. Reported Earnings • Mar 13
Full year 2020 earnings released: US$0.28 loss per share (vs US$0.46 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$16.6m (up US$15.3m from FY 2019). Net loss: US$24.7m (loss narrowed 6.2% from FY 2019). Products in clinical trials Phase I: 1 Phase II: 2 Analyst Estimate Surprise Post Earnings • Mar 13
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 9.8%. Over the next year, revenue is expected to shrink by 69% compared to a 1,466% growth forecast for the Biotechs industry in the US.