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Exicure, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing indicates that Exicure is continuing its exploration of strategic alternatives, with a focus on potential partnerships and transactions to maximize stockholder value.
Exicure reported a net loss of $1.1 million for the quarter, compared to a net loss of $5.3 million in the same quarter the previous year.
Operating expenses for the quarter were $2.6 million, down from $3.3 million in the prior year, primarily due to reduced general and administrative expenses.
The company recorded $1.5 million in other income from the sale of certain assets, including historical biotechnology intellectual property.
Exicure's cash and cash equivalents were reported at $343,000 as of September 30, 2024, indicating a need for substantial additional financing in the near term.
The company faces substantial doubt about its ability to continue as a going concern without securing additional funding.
Exicure has engaged in significant cost reductions and is actively seeking additional capital to fund its operations and strategic exploration.
The company is currently not in compliance with Nasdaq's (NDAQ-0.10%) listing requirements and has requested an extension to meet the criteria.
Exicure's board and management are undergoing transitions, with new appointments expected following the closing of an investment by HiTron Systems Inc.
The filing also highlights ongoing legal proceedings, including a securities class action lawsuit and shareholder derivative actions, which are expected to be settled in the near future.
Exicure's future financial performance is uncertain and heavily dependent on the success of its strategic alternatives exploration and ability to secure additional funding.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Exicure Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.