Exicure reports Q3 loss $5.2M; wind-down & going concern; $5.4M PIPE pending vote

EXICURE, INC.

Net loss $5.2M vs $23.5M; revenue $2.0M vs $(3.7)M due to AbbVie collaboration adjustment.
Cash $16.8M (down from $48.3M Dec 2021); expects to fund into Q2 2023; substantial doubt about going concern; may need bankruptcy if PIPE fails.
Private placement with CBI USA: 3.4M shares at $1.60, ~$5.4M gross; CBI to hold 50.4% after close; shareholder vote Dec 15, 2022.
Company winding down preclinical programs, cut 66% workforce, suspended all R&D; seeking out-license for cavrotolimod and SCN9A program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

EXICURE, INC. reported quarter ended September 30, 2022 results: revenue $2.0 million, net income $5.2 million.

Period: quarter ended September 30, 2022
Revenue: $2.0 million
Net income: $5.2 million
Result: reported results

Exact text from the filing

proceeds from the Private Placement as the Private Placement has not closed) will enable it to fund its current operations into the second quarter of 2023. Revenue : Revenue was $2.0 million for the quarter ended September 30, 2022, reflecting an increase of $5.7 million from revenue of $(3.7) million for the quarter ended September 30, 2021. The increase in

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EXICURE, INC. filing history →

Source: SEC EDGAR

accession 0001698530-22-000085

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