Exicure secures Australian patent for cancer treatment

CHICAGO - Exicure, Inc. (NASDAQ:XCUR), a biotechnology firm with a current market capitalization of $40.18 million, announced today the issuance of an Australian patent for a novel cancer treatment method. The Australian Patent Office granted Patent No. 2018388302, which covers Exicure’s approach to targeting CXCR4 and GPCRx, crucial elements in cancer therapy. According to InvestingPro data, the company operates with high volatility, reflected in its beta of 3.85, making it particularly sensitive to market movements.

The patent supports Exicure’s Phase 2 clinical trial, currently evaluating the efficacy of combining GPC-100 and propranolol in treating multiple myeloma patients. This combination aims to improve the mobilization of hematopoietic stem cells by simultaneously targeting CXCR4 and ADRB2, potentially enhancing the effectiveness of CXCR4 inhibitors like GPC-100. The company’s development efforts come amid challenging financial metrics, with InvestingPro data showing a gross profit margin of -153.8% and a current ratio of 0.71, indicating potential liquidity concerns.

Andy Yoo, CEO of Exicure, commented on the patent issuance, stating that the company’s proprietary approach of co-targeting CXCR4 and ADRB2 could significantly increase the potency of CXCR4 inhibitors, opening new avenues for more effective therapies. He also emphasized the strong intellectual property protection afforded by their patent portfolio.

The patent family has already been granted in the United States, Japan, and Taiwan, with further applications pending in other key jurisdictions.

Exicure has historically concentrated on developing nucleic acid therapies targeting RNA against validated targets. Following a recent restructuring and suspension of clinical and development activities, the company is exploring strategic alternatives to maximize shareholder value, including its historical biotechnology assets. InvestingPro analysis reveals the company’s overall financial health score as "FAIR," with additional insights available to subscribers, including 12 more ProTips and comprehensive financial metrics that could help investors better understand the company’s strategic position.

This announcement includes forward-looking statements under the United States Private Securities Litigation Reform Act of 1995. Exicure cautions that these statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected.

The information in this article is based on a press release statement from Exicure, Inc.

In other recent news, Exicure, Inc. has successfully met the Nasdaq Stock Market’s minimum stockholders’ equity requirement, ensuring its continued listing on the Nasdaq Capital Market. This achievement follows a period where the company faced a stockholders’ deficit of $2.2 million, prompting a strategic plan to regain compliance. As part of this effort, Exicure executed transactions, including the sale of shares to HiTron Systems Inc. and SangSangIn Investment & Securities Co., Ltd., raising its equity to approximately $4.3 million. Exicure also confirmed the receipt of $8.7 million from HiTron Systems Inc. through a Common Stock Purchase Agreement, further strengthening its financial position.

In addition to financial maneuvers, Exicure announced changes to its Board of Directors, with Jiyoung Hwang and Paul Kang resigning for personal reasons. The company appointed Chang Keun Choi and Minwoo Kang to its Audit Committee, with Minwoo Kang serving as Chair, enhancing its governance framework. These board changes align with the appointment of Andy Yoo as CEO and President, following Paul Kang’s transition from the CEO role. Exicure’s recent developments underscore its commitment to maintaining compliance with Nasdaq’s listing criteria and enhancing its corporate governance.

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