Exicure FY2022 net loss $2.6M, revenue $28.8M non-cash; R&D halted; going concern warning

EXICURE, INC.

Net loss of $2.6M for FY2022 vs $64.1M loss in 2021; revenue $28.8M from non-cash recognition of deferred revenue after AbbVie and Ipsen terminations.
Cash and equivalents $9.8M at 12/31/22; subsequent private placement raised $5.4M gross ($4.6M net); cash expected into Q4 2023.
Going concern: substantial doubt about ability to continue; need additional financing within next few months.
R&D expense down 60% to $19.8M; company halted all R&D and reduced workforce in September 2022.
CBI USA became majority owner (50.4%) after private placement; board expanded to 6, with only one prior director remaining; controlled company exemption.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EXICURE, INC. reported the year ended December 31, 2022 results: revenue $28.8 million.

Period: the year ended December 31, 2022
Revenue: $28.8 million
Result: reported results

Exact text from the filing

status of the Company as it explores strategic alternatives and this estimate may prove inaccurate and the Company may expend its limited resources sooner. Revenue : Revenue was $28.8 million for the year ended December 31, 2022, reflecting an increase of $29.3 million from revenue of $(0.5) million for the year ended December 31, 2021. The increase in collaboration

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EXICURE, INC. filing history →

Source: SEC EDGAR

accession 0001698530-23-000026

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