Thu, Jun 6, 8:18 PM (137 days ago)
Exicure, Inc. filed Amendment No. 2 to its Q1 2023 10-Q, primarily to include updated certifications from its principal executive and financial officers. The Amendment No. 1, filed on May 16, 2024, restated financials due to an error in expense classification, resulting in $0.6 million being reclassified from R&D to G&A expenses. Despite this reclassification, net loss remained unchanged. For Q1 2023, Exicure reported no revenue, down from $2.6 million in Q1 2022, due to terminated collaboration agreements. Operating expenses dropped by 56% to $4.5 million, driven by an 80% reduction in R&D expenses following the suspension of preclinical activities. The net loss was $4.4 million, a 47% improvement from Q1 2022. Exicure faces substantial doubt about its ability to continue as a going concern, requiring significant near-term financing. The company is exploring strategic alternatives, including potential transactions unrelated to its historical operations. Future operations are uncertain, with risks including potential delisting from Nasdaq and the need for additional capital.