Exicure, Inc., a biotechnology company, has entered into two separate common stock purchase agreements with HiTron Systems Inc. The initial agreement, dated November 6, 2024, and executed on November 12, 2024, involves the sale of 433,000 shares at $3.00 per share, resulting in gross proceeds of approximately $1.3 million. The closing of this transaction is expected within ten days of the execution date. Additionally, HiTron will have the right to nominate two members to Exicure's Board of Directors. A subsequent agreement on November 13, 2024, will see Exicure issue an additional 2.9 million shares to HiTron for $8.7 million, subject to stockholder approval and other customary conditions. The proceeds are intended for working capital and general corporate purposes. In connection with these agreements, Exicure has also entered into registration rights...Show More

Exicure, Inc., a biotechnology company, has entered into two separate common stock purchase agreements with HiTron Systems Inc. The initial agreement, dated November 6, 2024, and executed on November 12, 2024, involves the sale of 433,000 shares at $3.00 per share, resulting in gross proceeds of approximately $1.3 million. The closing of this transaction is expected within ten days of the execution date. Additionally, HiTron will have the right to nominate two members to Exicure's Board of Directors. A subsequent agreement on November 13, 2024, will see Exicure issue an additional 2.9 million shares to HiTron for $8.7 million, subject to stockholder approval and other customary conditions. The proceeds are intended for working capital and general corporate purposes. In connection with these agreements, Exicure has also entered into registration rights agreements with HiTron, committing to file registration statements for the resale of the shares. Exicure has reported its financial results for the third quarter ended September 30, 2024, with a net loss of $1.1 million, a decrease from the $5.3 million net loss in the same period the previous year. The company's cash position is at $0.3 million, and it has requested an additional extension through December 17, 2024, from the Nasdaq Hearings Panel to maintain its listing, pending the closure of the $1.3 million sale to HiTron.