Exicure, a biotechnology company, reported a challenging financial performance in its latest quarterly report. The company's revenue for the three months ended September 30, 2023, was $0, a 100% decrease from the $2.016 million reported in the same period in 2022. Operating expenses decreased by 54% to $3.317 million, down from $7.221 million, primarily due to the suspension of research and development activities. Consequently, the operating loss improved by 36%, from a loss of $5.205 million to $3.317 million. The net loss for the quarter was $5.256 million, slightly higher than the $5.160 million loss in the previous year. As of September 30, 2023, Exicure's cash and cash equivalents stood at $0.9 million, down from $8.6 million at the end of 2022. The company's cash position further declined to approximately $0.2 million as of April 30, 2024. Exicure has...Show More

Exicure, a biotechnology company, reported a challenging financial performance in its latest quarterly report. The company's revenue for the three months ended September 30, 2023, was $0, a 100% decrease from the $2.016 million reported in the same period in 2022. Operating expenses decreased by 54% to $3.317 million, down from $7.221 million, primarily due to the suspension of research and development activities. Consequently, the operating loss improved by 36%, from a loss of $5.205 million to $3.317 million. The net loss for the quarter was $5.256 million, slightly higher than the $5.160 million loss in the previous year. As of September 30, 2023, Exicure's cash and cash equivalents stood at $0.9 million, down from $8.6 million at the end of 2022. The company's cash position further declined to approximately $0.2 million as of April 30, 2024. Exicure has ceased its research and development activities and is exploring strategic alternatives, including potential transactions in industries unrelated to its historical operations. The company raised $5.4 million in gross proceeds from a private placement in February 2023 but has largely utilized these funds for severance payments and other expenses. Exicure faces substantial doubt about its ability to continue as a going concern and may seek bankruptcy protection or cease operations if unable to secure additional financing. The company has also received deficiency notices from Nasdaq regarding listing requirements and may face delisting if compliance is not regained.