EXICURE, INC. XCUR
Historically, we have been an early-stage biotechnology company focused on developing nucleic acid therapies targeting ribonucleic acid against validated targets. In September 2022, we announced a significant reduction in force, suspension of preclinical activities and halting of all research and development, and that we were exploring strategic alternatives to maximize stockholder value. In February 2024, we received an upfront payment of $500,000 from a licensing agreement for patents related to one of our historical drug candidates, and received a small, one-time payment and an entitlement to only modest royalties on future sales of the licensed technology that we do not believe will be material. In the second quarter of 2024, we recognized other income of $637,000 from the sale of our samples related to the licensed product. In the third quarter of 2024, we sold our historical biotechnology intellectual property and other assets (including the licensing agreement described above) pursuant to the purchase agreement and recognized other income of $1,500,000. We continue to engage in a broader exploration of strategic alternatives. This effort involves exploring growth through transactions with potential partners that see opportunity in joining an existing, publicly-traded organization.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $500.0K | $0 | $28.8M | -$483.0K | $16.6M | $1.3M | $118.0K | $9.7M | $1.0M |
| R&D | $3.3M | $0 | $1.4M | $19.8M | $49.0M | $32.1M | $19.3M | $14.1M | $13.1M | $13.7M |
| SG&A | $6.8M | $5.4M | $11.7M | $10.9M | $13.1M | $10.0M | $8.6M | $7.8M | $7.0M | $3.5M |
| Total operating expenses | $4.2M | $12.7M | $15.0M | $30.7M | $62.1M | $42.0M | $27.9M | $21.9M | $20.1M | $17.2M |
| Operating income | -$4.2M | -$12.2M | -$15.0M | -$1.8M | -$62.5M | -$25.4M | -$26.6M | -$21.8M | -$10.4M | -$16.2M |
| Interest expense | $1.0K | $18.0K | $0 | $595.0K | $1.7M | $573.0K | $786.0K | $672.0K | $795.0K | $724.0K |
| Pre-tax income | -$5.6M | -$9.7M | -$16.9M | -$2.4M | -$64.1M | -$24.7M | -$26.3M | -$22.4M | -$12.0M | -$16.9M |
| Income tax | $634.0K | $8.0K | $0 | $209.0K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$4.9M | -$9.7M | -$16.9M | -$2.6M | -$64.1M | -$24.7M | -$26.3M | -$22.4M | -$11.0M | -$16.9M |
| EPS, basic | -0.79 | -4.75 | -10.55 | -0.56 | -21.70 | -0.28 | — | — | — | — |
| EPS, diluted | -0.79 | -4.75 | -10.55 | -0.56 | -21.70 | -0.28 | -0.46 | -0.54 | -1.09 | -149.37 |
| Shares, diluted (wtd. avg.) | 6.3M | 2.0M | 1.6M | 4.6M | 3.0M | 87.2M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.7M | $12.5M | $2.0M | $9.8M | $43.8M | $34.5M | $48.5M | $26.3M | $25.8M | $19.6M |
| Short-term investments | — | — | — | $0 | $4.5M | $48.8M | $62.3M | $0 | — | — |
| Receivables | — | — | — | — | $0 | $11.0K | $16.0K | $0 | — | — |
| Total current assets | $4.6M | $13.7M | $2.0M | $10.1M | $43.7M | $86.3M | $112.8M | $27.7M | $27.6M | $20.0M |
| Property, plant and equipment | $306.0K | $26.0K | $54.0K | $2.5M | $3.9M | $4.1M | $2.1M | $1.1M | $1.3M | $503.0K |
| Goodwill | $4.4M | $0 | — | — | — | — | — | — | — | — |
| Other intangibles | $3.8M | $0 | — | — | — | — | — | — | — | — |
| Total assets | $14.0M | $15.1M | $11.6M | $23.3M | $64.9M | $100.4M | $115.3M | $28.8M | $29.0M | $20.6M |
| Accounts payable | $1.7M | $1.0M | $1.6M | $361.0K | $3.4M | $1.9M | $1.8M | $500.0K | $1.0M | $509.0K |
| Short-term debt | — | — | — | $0 | $6.9M | $0 | $5.0M | $0 | $0 | $1.2M |
| Total current liabilities | $3.9M | $3.1M | $2.5M | $1.6M | $34.1M | $13.7M | $31.1M | $2.0M | $3.4M | $12.2M |
| Long-term debt | — | — | — | — | $0 | $16.6M | $0 | $4.9M | $4.9M | $4.5M |
| Total liabilities | $10.1M | $8.3M | $8.5M | $8.4M | $53.6M | $38.9M | $34.5M | $7.8M | $9.0M | $18.1M |
| Retained earnings | -$204.2M | -$199.3M | -$189.6M | -$172.6M | -$170.1M | -$106.0M | -$81.3M | -$55.0M | -$33.6M | -$22.6M |
| Total equity | $3.9M | $6.8M | $3.0M | $14.9M | $11.2M | $61.5M | $80.7M | $21.0M | $20.0M | $2.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.6M | -$2.9M | -$10.4M | -$35.7M | -$34.8M | -$39.3M | $1.3M | -$19.5M | -$19.8M | -$5.0M |
| Depreciation and amortisation | $242.0K | $28.0K | $634.0K | $1.2M | $1.1M | $766.0K | $392.0K | $358.0K | $232.0K | $180.0K |
| Stock-based compensation | $2.0K | $22.0K | $1.3M | $1.4M | $2.9M | $2.2M | $1.8M | $1.8M | $1.5M | $682.0K |
| Capital expenditure | $1.0K | $0 | $0 | $10.0K | $968.0K | $3.2M | $1.1M | $94.0K | $926.0K | $394.0K |
| Investing cash flow | -$1.8M | $0 | -$1.1M | $4.7M | $43.1M | $10.1M | -$63.4M | -$94.0K | -$926.0K | -$394.0K |
| Financing cash flow | $1.6M | $13.4M | $3.7M | -$3.1M | $1.1M | $15.1M | $84.3M | $20.1M | $26.9M | $6.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001698530-26-000028.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0M | $9.7M | $118.0K | $1.3M | $16.6M | -$483.0K | $28.8M | $0 | $500.0K | $0 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$16.9M | -$11.0M | -$22.4M | -$26.3M | -$24.7M | -$64.1M | -$2.6M | -$16.9M | -$9.7M | -$4.9M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Other event Item 8.01
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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