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XCUR

Exicure, Inc.

XCUR

Exicure, Inc. • NASDAQ
$4.13 ▲ 6.99% (+0.27)
Market Cap $26.32 M
52w High $34.99
52w Low $3.10
Dividend Yield 0%
P/E -1.11
Volume 212
Outstanding Shares 6.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.391M ▼ $-2.437M ▲ 0% $-0.39 ▲ $-2.366M ▼
Q2-2025 $0 $2.509M ▲ $-2.621M ▼ 0% $-0.41 ▼ $-2.321M ▲
Q1-2025 $0 $-2.949M ▼ $3.01M ▲ 0% $0.49 ▲ $-2.917M ▲
Q4-2024 $0 $7.589M ▲ $-7.181M ▼ 0% $-1.19 ▼ $-6.969M ▼
Q3-2024 $0 $2.572M $-1.091M 0% $-0.15 $-863K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $4.438M ▼ $15.267M ▼ $8.34M ▼ $6.927M ▼
Q2-2025 $7.858M ▼ $18.738M ▼ $9.875M ▲ $8.863M ▼
Q1-2025 $10.42M ▼ $20.68M ▲ $9.298M ▲ $11.382M ▲
Q4-2024 $12.508M ▲ $15.056M ▲ $8.284M ▼ $6.772M ▲
Q3-2024 $343K $10.631M $9.086M $1.545M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.437M ▲ $0 ▲ $0 ▲ $0 $-3.42M ▼ $0 ▲
Q2-2025 $-2.621M ▼ $-2.282M ▼ $-280K ▲ $0 ▼ $-2.562M ▼ $-2.602M ▼
Q1-2025 $3.01M ▲ $-1.598M ▼ $-2.09M ▼ $1.6M ▼ $-2.088M ▼ $-1.598M ▼
Q4-2024 $-7.181M ▼ $-845K ▼ $0 $12.402M ▲ $11.557M ▲ $-845K ▼
Q3-2024 $-1.091M $-449K $0 $0 $-185K $-449K

Five-Year Company Overview

Income Statement

Income Statement The company has essentially no recurring revenue and has been running at a loss for several years. Losses have become much smaller over time, mainly because operations have been sharply scaled back rather than because of new income. Earnings per share look very weak, partly amplified by multiple reverse stock splits, which concentrate past losses into fewer shares. Overall, this is still a pre-revenue, loss-making biotech that depends on external funding rather than business income.

Balance Sheet

Balance Sheet The balance sheet is very thin. The company holds only a small amount of total assets and cash, with a similar magnitude of debt and only a modest level of equity. Equity was nearly wiped out recently and has only slightly recovered, which signals a fragile financial base. The repeated reverse splits and low asset base indicate that the firm has limited cushion to absorb setbacks and is sensitive to new financing terms.

Cash Flow

Cash Flow Operating cash flow has been negative for years, reflecting ongoing cash burn, but the burn has decreased as the business downsized and stopped heavy internal R&D. There is effectively no spending on physical assets, so free cash flow largely mirrors operating cash flow. Even though recent outflows are smaller, the company still appears dependent on raising capital or doing deals to fund operations and clinical work, rather than generating cash from its own products.

Competitive Edge

Competitive Edge Historically, the company’s edge came from its proprietary Spherical Nucleic Acid platform and related intellectual property. That platform is now on the back burner, with management trying to out‑license it. The new focus is a licensed GPCR-based pipeline, led by a mid‑stage clinical candidate targeting a well-known receptor in oncology. This puts the company into a crowded biotech space where multiple players chase similar receptor targets. Its competitive position will largely depend on the quality of clinical data, the strength of the in‑licensed patents, and its ability to execute trials efficiently with limited resources.

Innovation and R&D

Innovation and R&D The company has shifted from being an in‑house platform innovator to a leaner organization focused on in‑licensed clinical assets. Internal discovery and early‑stage R&D have been mostly shut down after restructuring. Innovation now depends on the acquired GPCR pipeline, particularly the lead drug in Phase 2, and on any future partnering around the legacy SNA technology. The scientific story is still interesting—both in GPCR targeting and in the shelved SNA platform—but the engine of new ideas is now more about collaborations, licensing, and clinical execution than about large internal labs.

Summary

Exicure is in the middle of a major reset. Financially, it is a very small, pre‑revenue biotech with a thin balance sheet, ongoing though reduced cash burn, and a history of reverse stock splits reflecting past pressure on the share price. Strategically, it has pivoted away from its original nucleic acid delivery platform to a newly licensed GPCR‑focused clinical pipeline, with success now hinging on the outcomes of mid‑stage trials and future partnering deals. The upside case rests on proving the new drugs work and monetizing legacy technology; the risk side centers on limited financial resources, execution risk in the clinic, and intense competition in its chosen therapeutic areas.

NEWS

November 7, 2025 · 4:00 PM UTC

Exicure, Inc. Reports Third Quarter 2025 Financial Results

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November 3, 2025 · 9:00 AM UTC

New Burixafor Clinical Data to be Presented as an Oral Presentation at the 2025 ASH Annual Meeting

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October 22, 2025 · 4:15 PM UTC

Halper Sadeh LLC Encourages Exicure, Inc. Shareholders to Contact the Firm to Discuss Their Rights

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October 6, 2025 · 7:00 AM UTC

Exicure Highlights Recent Achievements and Near-term Strategic Priorities

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