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Exicure Inc. (XCUR+10.02%) has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing details Exicure's strategic shift following the suspension of its preclinical activities and the sale of its historical biotechnology intellectual property and assets. The company received $1.5 million from this sale and is now focusing on exploring strategic alternatives.
Exicure reported a net loss of $9.7 million for the year, a decrease from the $16.9 million loss reported in the previous year. The company attributes this reduction to lower general and administrative expenses and the absence of research and development expenses following the suspension of its clinical programs.
Revenue for the year was $500,000, generated from a licensing agreement for patents related to a historical drug candidate. The company does not expect significant revenue from its historical assets in the future.
The company completed several equity financings during the year, raising approximately $13.4 million. This included stock purchase agreements with HiTron Systems Inc. and SangSangIn Investment & Securities Co., Ltd.
Exicure's cash and cash equivalents were approximately $12.5 million as of December 31, 2024. The company acknowledges substantial doubt about its ability to continue as a going concern without additional financing.
In recent developments, Exicure acquired GPCR Therapeutics USA Inc. and entered into a License and Collaboration Agreement with GPCR Therapeutics Inc. to further develop and commercialize certain technologies.
Exicure's common stock remains listed on the Nasdaq Capital Market. The company has addressed previous Nasdaq listing deficiencies and is currently in compliance with listing requirements.
The company continues to explore strategic alternatives, including potential transactions with partners that could leverage its status as a publicly-traded entity. Additional financing will be required to support these activities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Exicure Inc. annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.