Exicure reports Q1 net loss of $4.4M; cash runway to Q4 2023; needs near-term financing

EXICURE, INC.

2023-Q2 EPS reported -$1.38

Net loss $4.4M vs $8.3M YoY; R&D spend dropped to $2.0M from $7.1M after halting all R&D.
Cash $11.2M at March 31, 2023; expects to fund operations into Q4 2023; seeks capital in Q3 2023.
Closed September 2022 PIPE with $5.44M gross; CBI USA now owns ~50.4% of outstanding shares.
Purchased $2M in convertible bonds of Cyworld Z (two $1M subscriptions) maturing May 2026 at 4.5% yield.
Going concern: substantial doubt; limited ability to cut costs; financing needed within months.

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 quarter ended March 31, 2023 results: net income $4.4 million.

Period: the quarter ended March 31, 2023
Net income: $4.4 million
Result: reported results

Exact text from the filing

Net Loss: The Company had a net loss of $4.4 million for the quarter ended March 31, 2023, as compared to a net loss of $8.3 million for the quarter ended March 31, 2022.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

EXICURE, INC. filing history →

Source: SEC EDGAR

accession 0001698530-23-000078

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