Exicure, Inc. - XCUR STOCK NEWS

Exicure, Inc. (NASDAQ: XCUR) recently held its Annual Meeting of Stockholders on May 27, 2022, which was adjourned without conducting business, rescheduled for June 10, 2022. Key proposals for the reconvened meeting include the election of two directors, ratification of KPMG LLP as independent auditors for the fiscal year ending December 31, 2022, and approval of a proposed reverse stock split at a ratio of 1-for-10 to 1-for-30. The Board believes the reverse stock split is essential for compliance with Nasdaq’s bid price requirement.

Exicure, Inc. (NASDAQ: XCUR) announced that CEO Matthias Schroff will present virtually at the H.C. Wainwright Global Life Sciences Conference from May 23-26, 2022. The presentation will be available on-demand starting May 24, 2022, at 7:00 AM EST and archived for 90 days. The company focuses on developing next-generation nucleic acid therapies aimed at addressing neurological disorders and hair loss. Exicure also plans to conduct one-on-one investor meetings during the conference.

Exicure, Inc. (NASDAQ: XCUR) recently secured a $5.0 million private placement led by CBI USA, aimed at advancing its nucleic acid therapies for neurological and hair loss disorders. The company reported a revenue increase to $2.6 million for Q1 2022, up from $1.0 million in Q1 2021, due to recognition of non-cash revenue from its collaboration with Ipsen. Despite the progress, Exicure faces a net loss of $8.3 million and significant cash flow concerns, raising doubts about its ability to continue operations without additional financing.

Exicure, Inc. (NASDAQ:XCUR) announced a private placement of 26,021,111 shares at $0.1937 per share, totaling approximately $5 million. This financing aims to advance Exicure's preclinical candidates, particularly the SCN9A product for non-opioid pain relief. CBI USA, a subsidiary of CBI Co., Ltd., leads the placement, with closing expected around May 19, 2022. CBI will nominate a board member post-closing. The funds will support the advancement of nucleic acid therapies and general corporate needs.

Exicure, Inc. (NASDAQ: XCUR) announced a poster presentation at TIDES USA 2022 from May 9-12, 2022. The presentation focuses on the development of spherical nucleic acids targeting SCN9A for treating neuropathic pain, with Poster Board Assignment Number 54. The poster will be available for both in-person and virtual viewing, accessible for two weeks post-conference. Exicure is pioneering nucleic acid therapies for neurological disorders and hair loss, working from its Chicago facility.

Coya Therapeutics, a clinical-stage biotechnology company, has appointed David S. Snyder as Chief Financial Officer and Chief Operating Officer. Snyder, with over 25 years of experience, will contribute significantly to the company’s financial management and assist in potential public offerings. Previous roles include CFO of Exicure and Cellular Dynamics. Coya focuses on innovative therapies for neurodegenerative and autoimmune diseases using regulatory T cells and exosome therapeutics. The company aims to address significant unmet medical needs with its advanced clinical pipeline.

Exicure, Inc. (NASDAQ: XCUR) reported a significant net loss of $64.1 million for 2021, up from $24.7 million in 2020, driven by decreased non-cash revenue and higher R&D expenses totaling $49.0 million. Revenue decreased to $(0.5) million from $16.6 million in 2020, largely due to changes in the AbbVie collaboration. As of December 31, 2021, cash reserves amounted to $48.3 million. The company anticipates reporting results from initial SCN9A in vivo studies by year-end 2022 and is focused on strategic partnerships and out-licensing opportunities in 2022.

Exicure, Inc. (NASDAQ: XCUR) has announced significant management changes. Brian C. Bock will resign as President and CEO, transitioning to a Special Advisor role effective immediately. Dr. Matthias Schroff, previously Chief Scientific Officer, will take over as President and CEO on February 4, 2022. Additionally, several Board members, including Timothy P. Walbert and Andrew Sassine, are resigning. Dr. Betsy Garofalo is appointed as Chair of the Board. These changes aim to streamline leadership and enhance operational efficiency in advancing Exicure's gene therapy programs.

Exicure, Inc. (NASDAQ:XCUR) has announced a definitive agreement with institutional investors for a registered direct offering of 34,576,068 shares of common stock at $0.3326 each, plus warrants to purchase another 17,288,034 shares at an exercise price of $0.2701. The expected gross proceeds are about $11.5 million, intended for working capital and corporate purposes. The offering is set to close around December 16, 2021, subject to customary conditions. H.C. Wainwright serves as the exclusive placement agent.