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Exicure (NASDAQ:XCUR), Inc., a pharmaceutical company based in Chicago, Illinois, with a market capitalization of $74.11 million, announced on Monday a change in its independent registered public accounting firm. According to InvestingPro data, the company maintains a FAIR overall financial health score despite recent challenges. The company’s previous accounting firm, Marcum LLP, resigned on April 10, 2025, and CBIZ (NYSE:CBZ) CPAs P.C. has been appointed as the new auditor.
The change comes after CBIZ CPAs acquired the attest business of Marcum LLP as of November 1, 2024. Exicure’s Audit Committee approved the engagement of CBIZ CPAs to audit the company’s financial statements for the year ending December 31, 2025.
According to the 8-K filing with the U.S. Securities and Exchange Commission, there were no disagreements between Exicure and Marcum on any accounting principles, practices, financial statement disclosures, or auditing scope or procedures that would have required Marcum to mention such disagreements in their reports. Additionally, the reports for the fiscal years ended December 31, 2024 and 2023 contained no adverse opinion or disclaimer of opinion, except for an explanatory paragraph regarding the company’s ability to continue as a going concern. InvestingPro analysis shows the company maintains a healthy current ratio of 4.45, with liquid assets exceeding short-term obligations, though it operates with a moderate debt-to-equity ratio of 0.88.
Exicure had identified a material weakness in its internal control over financial reporting as of June 30, 2023, which has not yet been remediated. However, this did not result in any misstatements or changes to previously reported financial results.
The company has provided Marcum with a copy of the 8-K report filed with the SEC and has received a letter from Marcum, dated April 14, 2025, confirming their agreement with the statements made in the filing.
Investors will be closely monitoring the transition to CBIZ CPAs and any future insights the new auditor may provide regarding Exicure’s financial health and internal controls. The move is part of standard corporate governance practices and does not reflect any immediate concerns regarding the company’s financial statements. For deeper insights into Exicure’s financial health and performance metrics, including 13 additional ProTips and comprehensive financial analysis, investors can access detailed reports through InvestingPro.
In other recent news, Exicure, Inc. has been granted an Australian patent for its innovative cancer treatment method, which targets CXCR4 and GPCRx. This patent supports their ongoing Phase 2 clinical trial, focusing on enhancing the mobilization of hematopoietic stem cells to improve the efficacy of CXCR4 inhibitors. CEO Andy Yoo emphasized the potential of their proprietary approach to significantly increase the potency of these inhibitors. The patent has also been granted in the United States, Japan, and Taiwan, with pending applications in other regions. In addition to these developments, Exicure has announced changes to its Board of Directors. Jiyoung Hwang and Paul Kang have both resigned for personal reasons, with Kang agreeing to provide transitional consulting services for the next year. These board changes come after Andy Yoo’s appointment as CEO and President, succeeding Paul Kang.
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