Exicure, Inc. (XCUR) stock plummeted 3.20% in the after-hours trading session at the price of $1.21 after it announced a presentation at the Chardan Virtual 5th Annual Genetic Medicines Conference on 5th October 2021. XCUR is a clinical-stage biotechnology company based on Spherical Nucleic Acid technology (SNA). It develops therapeutics to treat neurology, immuno-oncology, inflammatory diseases, and other genetic disorders.
Chardan Virtual 5th Annual Genetic Medicines Conference
On 4th October 2021, XCUR published a virtual presentation at the Chardan Virtual 5th Annual Genetic Medicines Conference on 5th October 2021, Tuesday, from 11:00 to 11:25 AM E.T. Replays of the presentation can be accessed through the company’s official website for 30 days following the webcast.
XCUR Reported Second Quarter 2021 Financial Results
On 12th August 2021, XCUR published financial results for the quarter ended 30th June 2021 and provided corporate updates. CEO of Exicure, Dr. David Giljohann, remarked that they keep focusing on key value inflection points across their programs and platforms. Their partnership with Ipsen for Huntington’s disease and Angelman syndrome raised their momentum in neurology. The management team has also made extraordinary progress in their preclinical neurology pipeline with a planned IND filing in Friedreich’s ataxia and Batten disease using SNA technology, Dr. David added.
Second Quarter 2021 Financial Highlights
As of 30th June 2021, XCUR reported $57.3 million in cash, cash equivalents, short-term investments, and restricted cash. Total cash and cash equivalents were $68.6 million as of 31st March 2021. The company reported a net loss of $14.3 million for the quarter ended 30th June 2021. Net loss was $4.3 million for the same quarter of the previous year. The increase in net loss resulted from lower revenue associated with the company’s announced collaboration with AbbVie. As of 30th June 2021, XCUR received $20 million in upfront payment related to the partnership with Ipsen. The company believes it will be enough to fund its operations for the next 12 months.
XCUR reported research and development expenses of $10.8 million for the quarter ended 30th June 2021. R&D expenses were $7.0 million for the quarter ended 30th June 2020. The rise in R&D expense indicates a higher headcount and the related increase in R&D activities. For the quarter ended 30th June 2021, the general and administrative expenses were $3.1 million. G&A expenses were $2.2 million for the quarter ended 30th June 2020. This increase resulted from costs related to new hirings required for the company’s growth.
