Exicure, a biotechnology company, reported its financial results for the second quarter of 2024, revealing a net loss of $600,000, a significant improvement from the $5.8 million loss in the same period last year. The company's operating expenses decreased by 78% year-on-year to $1.2 million, primarily due to reduced operations and lower headcount. Exicure generated $637,000 in other income from the sale of clinical product samples, and an upfront payment of $500,000 from a patent licensing agreement for a historical drug candidate. However, the company's cash and cash equivalents stood at a mere $0.5 million as of June 30, 2024, down from $0.8 million at the end of 2023. Exicure has ceased all research and development activities and is exploring strategic alternatives, including potential partnerships and licensing its...Show More

Exicure, a biotechnology company, reported its financial results for the second quarter of 2024, revealing a net loss of $600,000, a significant improvement from the $5.8 million loss in the same period last year. The company's operating expenses decreased by 78% year-on-year to $1.2 million, primarily due to reduced operations and lower headcount. Exicure generated $637,000 in other income from the sale of clinical product samples, and an upfront payment of $500,000 from a patent licensing agreement for a historical drug candidate. However, the company's cash and cash equivalents stood at a mere $0.5 million as of June 30, 2024, down from $0.8 million at the end of 2023. Exicure has ceased all research and development activities and is exploring strategic alternatives, including potential partnerships and licensing its intellectual property. The company raised $5.4 million in gross proceeds from a private placement in February 2023 but has since used these funds for various expenses. Exicure faces substantial doubt about its ability to continue as a going concern and may seek bankruptcy protection if unable to secure additional financing. The company also reported a change of control with CBI USA and its affiliate DGP acquiring a significant share of common stock, and Exicure is working to address Nasdaq listing deficiencies, including a potential reverse stock split.