Exicure faces Nasdaq non-compliance notice

REDWOOD CITY, Calif. - Exicure, Inc. (NASDAQ:XCUR), a clinical-stage biotechnology company, has received a notice of non-compliance from the Nasdaq Stock Market on May 21, 2025. The notice was issued because Exicure did not file its quarterly report on Form 10-Q for the period ending March 31, 2025, by the May 20 deadline, violating Nasdaq Listing Rule 5250(c)(1). The company’s stock, which has shown significant volatility with a beta of 3.87 according to InvestingPro data, has declined 9% in the past week and nearly 69% over the last six months.

The rule mandates that listed companies must file periodic financial reports with the U.S. Securities and Exchange Commission (SEC) in a timely manner. Exicure now has 60 days to present a plan to regain compliance. If Nasdaq accepts the plan, Exicure may be given up to 180 days from the original due date, or until November 17, 2025, to file the overdue report and comply with the listing requirements. InvestingPro data shows the company maintains a strong current ratio of 4.45, with liquid assets exceeding short-term obligations, which may provide some flexibility during this compliance period.

Exicure has stated its commitment to filing the delayed Form 10-Q as soon as possible to resolve the compliance issue. The company is known for its development of therapies aimed at hematologic diseases, with its leading program, GPC-100, currently under evaluation for improving stem cell mobilization in multiple myeloma, sickle cell disease, and as a support for cell and gene therapy. It is also being studied as a potential agent in treating acute myeloid leukemia (AML).

The recent non-compliance notice does not immediately affect Exicure’s listing on the Nasdaq, and the company will remain listed during the compliance period. However, the situation underscores the importance of timely financial disclosures for publicly traded companies.

Investors are advised to monitor the company’s filings and announcements for further updates on its compliance status and any developments regarding its clinical programs. This news is based on a press release statement from Exicure, Inc.

In other recent news, Exicure, Inc. has announced several significant developments. The company entered into a convertible bond agreement with its South Korean subsidiary, KC Creation Co., Ltd., involving a subscription amount of approximately $3.125 million USD. The bonds are set to mature in 2028, and Exicure has the option to convert them into shares of KC Creation. Additionally, Exicure has appointed CBIZ CPAs P.C. as its new independent registered public accounting firm after Marcum LLP resigned. The change followed CBIZ CPAs’ acquisition of Marcum’s attest business, with no disagreements noted between Exicure and Marcum on accounting matters.

In another development, Exicure has secured an Australian patent for a novel cancer treatment method targeting CXCR4 and GPCRx, supporting its ongoing Phase 2 clinical trial for multiple myeloma. The patent enhances Exicure’s intellectual property portfolio, which already includes grants in the United States, Japan, and Taiwan. Furthermore, the company reported changes to its Board of Directors, with Jiyoung Hwang and Paul Kang stepping down for personal reasons. Kang will continue to provide consulting services to Exicure for the next year. These recent announcements reflect Exicure’s ongoing strategic efforts to strengthen its position and expand its portfolio.

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