Exicure, a biotechnology company, has reported a significant shift in its operations and financial status in its latest quarterly report. The company, which historically focused on developing nucleic acid therapies, announced a major reduction in workforce and suspension of research and development activities in September 2022. In the current quarter, Exicure recognized other income of $1,500 from the sale of its historical biotechnology intellectual property and other assets. Despite this, the company's cash and cash equivalents stand at a mere $0.3 million as of September 30, 2024, casting substantial doubt on its ability to continue as a going concern without securing additional funding in the near term. Exicure's operating expenses for the quarter were $2.572 million, a 22% decrease from the previous year, primarily due...Show More

Exicure, a biotechnology company, has reported a significant shift in its operations and financial status in its latest quarterly report. The company, which historically focused on developing nucleic acid therapies, announced a major reduction in workforce and suspension of research and development activities in September 2022. In the current quarter, Exicure recognized other income of $1,500 from the sale of its historical biotechnology intellectual property and other assets. Despite this, the company's cash and cash equivalents stand at a mere $0.3 million as of September 30, 2024, casting substantial doubt on its ability to continue as a going concern without securing additional funding in the near term. Exicure's operating expenses for the quarter were $2.572 million, a 22% decrease from the previous year, primarily due to reduced operations. The company reported a net loss of $1.091 million, an improvement from the $5.256 million loss in the same period last year. Exicure is actively exploring strategic alternatives, including potential partnerships, to leverage its status as a publicly-traded entity. The company's future plans hinge on securing additional financing, which may include equity offerings, although there is no certainty of success given the company's current condition and market uncertainties. Exicure has also faced challenges with Nasdaq listing requirements, including stock price and corporate governance standards, and has undergone reverse stock splits to attempt compliance. The company's ability to continue operations is contingent upon raising capital and may require seeking bankruptcy protection if unsuccessful.