secwatch.observer — SEC 8-K summary
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Issuer:     EXICURE, INC. (XCUR)
CIK:        0001698530
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001698530-23-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698530/000169853023000026/0001698530-23-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698530/000169853023000026/xcur-20230327.htm
  HTML page:      https://secwatch.observer/filing/0001698530-23-000026

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