On August 8, 2025 Exicure, Inc. (Nasdaq: XCUR, the "Company") reported the following financial results for the fiscal quarter ended June 30, 2025 (Press release, Exicure, AUG 8, 2025, View Source [SID1234655037]).
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Second Quarter 2025 Financial Results
Cash Position: Cash and cash equivalents were $7.9 million as of June 30, 2025, as compared to $12.5 million as of December 31, 2024.
Research and Development (R&D) Expense: Research and development expenses were $0.9 million for the quarter ended June 30, 2025, as compared to $0 for the quarter ended June 30, 2024. The increase in R&D expense of $0.9 million for the three months ended June 30, 2025 was due to incurring research and development expenses in 2025 after the acquisition of GPCR Therapeutics USA Inc. ("GPCR USA"), which is conducting research. Immediately prior to closing the acquisition of GPCR USA, the Company recorded no research or development expenses.
General and Administrative (G&A) Expense: General and administrative expenses were $1.5 million for the quarter ended June 30, 2025, as compared to $1.2 million for the quarter ended June 30, 2024. The increase in G&A expense of $0.3 million for the three months ended June 30, 2025 was mostly due to the additional expenses incurred from the acquisition of GPCR USA and increased professional services compared to the same prior year quarter.
Loss from sale or disposal of property and equipment: The Company recognized a $60,000 loss from GPCR USA’s sale of fixed assets.
Other Income and Expense: The Company recognized a loss of $159,000 related to the change in the fair value of its contingent liability.
Net Income (Loss): The Company had a net loss of $2.6 million for the quarter ended June 30, 2025, as compared to a net loss of $0.6 million for the quarter ended June 30, 2024. The increase in net loss of $2 million was primarily due to the increased operating expenses from the acquisition of GPCR USA.
Going Concern: Management believes that the Company’s existing cash and cash equivalents is not sufficient to continue to fund operations. The Company has already engaged in significant cost reductions, and our ability to further cut costs and extend the Company’s operating runway is limited. As a result, substantial additional financing is needed in the short term to pay expenses, fund the ongoing exploration of strategic alternatives and pursue any alternatives that may be identified. The Company also needs to raise capital to fund its operations. There can be no assurance that such additional financing will be available and, if available, can be obtained on acceptable terms.