Welcome to our dedicated page for Exicure news (Ticker: XCUR), a resource for investors and traders seeking the latest updates and insights on Exicure stock.
Exicure, Inc., formerly known as Aurasense Therapeutics, is a pioneering biotechnology company that is redefining the landscape of immunomodulatory and gene silencing drugs. Leveraging its proprietary 3-dimensional Spherical Nucleic Acid (SNA™) architecture, Exicure is unlocking the therapeutic potential of nucleic acids across multiple organs. The company focuses on developing treatments targeting validated pathways for conditions ranging from inflammatory disorders to oncology.
Exicure's innovative SNA constructs are designed to overcome one of the most significant challenges in nucleic acid therapeutics: the efficient and safe delivery of therapeutic agents into cells and tissues. These constructs offer unparalleled transfection efficiency into various cell and tissue types, including skin, without the need for carriers or transfection agents. Additionally, SNA constructs hold promise as potent immunotherapeutic agents for addressing cancer and infectious diseases.
At the forefront of Exicure's pipeline are treatments for neurological disorders and hair loss, targeting ribonucleic acid (RNA) against validated disease targets. The company operates in a single segment focused on the discovery, research, and development of SNA-based treatments.
Recent milestones for Exicure include advancements in its lead programs, successful preclinical results, and strategic partnerships aimed at accelerating the development and commercialization of its groundbreaking therapies. These achievements underscore the company's commitment to transforming the future of medicine through cutting-edge nucleic acid technology.
The latest news and updates about Exicure, Inc. highlight the company's ongoing progress and significant developments in the biotechnology sector, providing valuable insights for investors and stakeholders.
Exicure, Inc. (NASDAQ: XCUR) has appointed Jung-Sang (Michael) Kim as the new CEO and CFO, effective April 26, 2023. He takes over from Dr. Matthias Schroff and Elias D. Papadimas, who both stepped down on the same day. The Board also welcomed Jiyoung Hwang as a new Class I director and noted the resignation of Seung Soo Shin as Class II director and chairman. Exicure is an early-stage biotechnology firm focusing on nucleic acid therapies for RNA targeting. Following a restructuring and the suspension of clinical activities, the company is exploring strategic alternatives to enhance stockholder value. For more details, a comprehensive filing will be available on Form 8-K with the U.S. Securities and Exchange Commission.
Exicure, Inc. (Nasdaq: XCUR) reported financial results for 2022, highlighting a revenue increase to $28.8 million from $(0.5) million in 2021 due to the recognition of deferred revenue from terminated collaborations. The company has $9.8 million in cash and expects to need additional financing soon. R&D expenses decreased 60% to $19.8 million, partly due to a reduction in workforce. The net loss improved to $2.6 million from $64.1 million. Despite these changes, Exicure faces substantial doubt about its ability to continue as a going concern without new financing.
Exicure Inc. (NASDAQ: XCUR) has successfully closed a private placement with CBI USA, Inc., finalizing the agreement made on September 26, 2022. This transaction, completed on February 24, 2023, involved the issuance of 3,400,000 shares at $1.60 per share, resulting in approximately $5.4 million in gross proceeds aimed at general working capital. Following the deal, CBI USA emerged as Exicure's majority shareholder, holding around 50.4% of the company’s shares, leading to a change of control. Additionally, three new board members nominated by CBI USA were appointed, while Elizabeth Garofalo resigned from the Board.
Exicure has announced the termination of its collaboration agreements with AbbVie and Ipsen. This decision affects the development programs focused on hair loss disorders and rare neurodegenerative disorders, including Angelman syndrome and Huntington's disease. Exicure now regains the ability to independently develop treatments for these conditions. CEO Matthias Schroff expressed gratitude to both companies for their support, while stating that Exicure is exploring strategic options to maximize stockholder value.
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