Why Exicure (XCUR) Shares Are Plunging Today - Exicure (NASDAQ:XCUR)

In its Q3 earnings release, Exicure Inc's XCUR management warned of substantial doubt regarding the company's ability to continue as a going concern within one year.
The company will require substantial additional financing to address its working capital and other financing needs to pursue its business strategy.
Cash, cash equivalents, short-term investments, and restricted cash were $16.8 million, sufficient to fund current operations into Q2 of 2023.
There is a significant likelihood that, without the consummation of the Private Placement, the company will need to seek bankruptcy protection in the near term.
In September, Exicure cut its workforce by approximately 66% and ceased all R&D activities, including suspending all partnered programs.
Exicure is looking for divesture opportunities for a clinical-stage asset in immuno-oncology and preclinical candidates, including the SCN9A product candidates for neuropathic pain.
Q3 revenue reached $2.0 million, reflecting an increase of $5.7 million from revenue of $(3.7) million a year ago, primarily due to an increase in revenue related to the company's collaboration with AbbVie Inc ABBV and Ipsen Biopharm Limited of $0.6 million.
Price Action: XCUR shares are down 16.7% at $1.05 during after-hours trading on Monday.

Exicure Flags Bankruptcy Concerns, Shares Fall