Exicure Shares Plunge After Q4 Results Included A Going Concern Risk

Exicure Inc XCUR has reported year-end cash, cash equivalents, and short-term investments of $48.3 million that will fund its current operations into Q4 of 2022.

• The Company said that it expects to continue to generate operating losses and negative operating cash flows. The need for additional funding raises substantial doubt regarding its ability to continue as a going concern.
• The Company will require additional financing to address the Company's working capital and other financing needs.
• During Q4 FY21, Exicure restructured its pipeline to focus on preclinical programs targeting SCN9A in pain and partnered programs.
• Exicure also completed an $11.5 million registered direct offering in December 2021.
• In November 2021, the Company received notification of a claim regarding alleged improprieties for its XCUR-FXN preclinical program for Friedreich's ataxia.
• Priorities for 2022 include:
• Exicure anticipates results from initial in vivo animal studies for the SCN9A preclinical discovery program by year-end 2022 with a goal of therapeutic candidate selection in 2H of 2023.
• It plans to meet potential preclinical milestones for partnered programs in 2023.
• The Company is actively pursuing strategic out-license opportunities for cavrotolimod and partnering opportunities for pain and other neuroscience programs.
• Price Action: XCUR shares are down 22.6% at $0.20 during the premarket session on the last check Monday.