Exicure, Inc. Reports Full Year 2025 Financial Results

On March 25, 2026 Exicure, Inc. (Nasdaq: XCUR, the "Company") reported the following financial results for the year ended December 31, 2025.

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2025 Financial Results

Cash Position: Cash and cash equivalents were $3.7 million as of December 31, 2025, compared to $12.5 million as of December 31, 2024. Our current liquidity may not be sufficient to fund operations for the next 12 months. Additional financing will be required to support ongoing operations, continue the exploration of strategic alternatives, and pursue any alternatives that we identify.

Research and Development (R&D) Expense: Research and development expenses were $3.3 million for the year ended December 31, 2025, as compared to $0 for the year ended December 31, 2024. The increase of $3.3 million reflects R&D activities incurred following the acquisition of GPCR Therapeutics USA Inc. ("GPCR USA"), which conducts research operations. 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 $6.8 million for the year ended December 31, 2025, as compared to $5.4 million for the year ended December 31, 2024. The increase in G&A expense of $1.4 million was primarily driven by additional expenses associated with the acquisition and integration of GPCR USA.

Loss from sale or disposal of property and equipment: The Company recognized a $90,000 loss from GPCR USA’s sale of fixed assets.

Gain on early lease termination: As a result of the early termination of the Company’s lease for its office in Chicago, effective January 31, 2025, the Company recognized a $6.0 million gain from the reversal of the remaining liability related to this lease.

Other Income and Expense: The Company recognized a $346,000 gain in the third quarter of 2025 upon satisfying its self‑insured retention with its insurer. The Company recorded a loss of $1,553,000 related to the change in fair value of its contingent liability. The Company recognized a loss of $275,000 associated with the sale of its subsidiary, KC Creation, along with additional currency translation losses related to this foreign subsidiary.

Net Loss: The Company had a net loss of $4.9 million for the year ended December 31, 2025, compared to a net loss of $9.7 million for the year ended December 31, 2024. The decrease in net loss of $4.8 million was primarily due to the $6.0 million gain resulting from the lease liability reversal, partially offset by increased operating expenses following 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 its 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.

(Press release, Exicure, MAR 25, 2026, View Source [SID1234663901])

IMUNON Reports Updated Phase 2 Data Showing Continued Improvement in Median Overall Survival with IMNN-001 in Women with Newly Diagnosed Advanced Ovarian Cancer

On March 25, 2026 IMUNON, Inc. (Nasdaq: IMNN), a clinical-stage company in Phase 3 development with its DNA-mediated immunotherapy, reported final clinical data from the completed Phase 2 OVATION 2 clinical trial evaluating IMNN-001 in combination with standard of care (SoC) neoadjuvant and adjuvant chemotherapy (N/ACT). The large randomized 112-patient study evaluated IMNN-001 in women with newly diagnosed advanced ovarian cancer. IMNN-001, the company’s lead drug candidate, utilizes its proprietary non-viral DNA delivery platform, TheraPlas, the only nucleic acid nanoparticle technology showing promise in treating cancer. This novel immunotherapy is designed to recruit the entirety of the immune system by enabling locoregional secretion of the powerful cancer-fighting cytokine interleukin 12 (IL-12), altering the tumor microenvironment.

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Based on prior data assessments, IMUNON previously reported a median 11.1-month increase in OS (40.5 vs. 29.4 months) in the IMNN-001 treatment arm compared to SoC chemotherapy alone. Following the most recent data assessment, the company is now reporting a median 14.7-month increase in OS (45.1 vs. 30.4 months) in women in the IMNN-001 treatment arm compared to SoC alone, demonstrating continuous improvement in OS (3.6 delta). In addition, the new IMNN-001 data showed that women treated with IMNN-001 and SoC chemotherapy plus poly ADP-ribose polymerase (PARP) inhibitors as part of maintenance therapy achieved a median increase in OS of 24.2 months (65.6 vs. 41.4 months) compared to SoC chemotherapy alone.

"It is very encouraging to see results from the OVATION 2 trial indicating that treatment with IMNN-001 was associated with an overall survival benefit of more than a year in patients treated with IMNN-001 plus chemotherapy and more than two years in women also receiving PARP inhibitors as part of maintenance therapy. These new findings are especially exciting given that there have been no meaningful advances in standard of care in ovarian cancer in the last 30 years," said Premal H. Thaker, M.D., Chief of Gynecologic Oncology, David & Lynn Mutch Distinguished Professor of Obstetrics & Gynecology, Director of Gynecologic Oncology Clinical Research at Washington University School of Medicine, OVATION 2 Study Chair and Study Chair of Phase 3 OVATION 3 trial. "Importantly, with these new efficacy results, IMNN-001 continues to maintain a highly favorable safety and tolerability profile, further reinforcing the potential of this IL-12 immunotherapy to represent a landmark advance in treatment for women who are in desperate need of new and improved treatment options."

"With each new assessment of the findings from the OVATION 2 study, IMNN-001 has continued to show that it can improve overall survival in women with newly diagnosed advanced ovarian cancer while maintaining an advantageous safety profile," said Stacy Lindborg, Ph.D., president and chief executive officer of IMUNON. "The strong response from our current trial investigators and the broader medical community supports our belief in the significant potential of IMNN-001 to make a meaningful difference in women’s lives. We remain focused on executing our Phase 3 trial and advancing this promising therapy to the final stage of regulatory review as quickly as possible."

The pivotal Phase 3 OVATION 3 trial is a robustly designed clinical study with the primary endpoint of OS. The trial design includes two planned interim analyses of the primary endpoint, designed to allow for an accelerated timeline for potential submission of a Biologics License Application (BLA) for full approval of IMNN-001 to the U.S. Food and Drug Administration (FDA) if the primary endpoint reaches statistical significance. OVATION 3 is currently enrolling patients at seven clinical sites with up to 43 additional sites being considered for activation. IMUNON anticipates enrolling approximately 80 patients (~20%) of the total target of 500 participants within the next year.

About the Phase 2 OVATION 2 Study

OVATION 2 evaluated the dosing, safety, efficacy and biological activity of intraperitoneal administration of IMNN-001 in combination with neoadjuvant and adjuvant chemotherapy (N/ACT) of paclitaxel and carboplatin in patients newly diagnosed with advanced epithelial ovarian, fallopian tube or primary peritoneal cancer. Treatment in the neoadjuvant period is designed to shrink the tumors as much as possible for optimal surgical removal after three cycles of chemotherapy. Following N/ACT, patients undergo interval debulking surgery, followed by three additional cycles of adjuvant chemotherapy to treat any residual tumor. This open-label study enrolled 112 patients who were randomized 1:1 and evaluated for safety and efficacy to compare N/ACT plus IMNN-001 versus standard-of-care N/ACT. In accordance with the study protocol, patients randomized to the IMNN-001 treatment arm could receive up to 17 weekly doses of 100 mg/m2 in addition to N/ACT. As a Phase 2 study, OVATION 2 was not powered for statistical significance. Additional endpoints included objective response rate, chemotherapy response score and surgical response.

About IMNN-001 Immunotherapy

Designed using IMUNON’s proprietary TheraPlas platform technology, IMNN-001 is an IL-12 DNA plasmid vector encased in a nanoparticle delivery system that enables cell transfection followed by persistent, local secretion of the IL-12 protein. IL-12 is one of the most active cytokines for the induction of potent anticancer immunity acting through the induction of T-lymphocyte and natural killer cell proliferation. IMUNON previously reported positive safety and encouraging Phase 1 results with IMNN-001 administered as monotherapy or as combination therapy in patients with advanced peritoneally metastasized primary or recurrent ovarian cancer and completed a Phase 1b dose-escalation trial (the OVATION 1 Study) of IMNN-001 in combination with carboplatin and paclitaxel neoadjuvantly in patients with newly diagnosed ovarian cancer. IMUNON previously reported positive results from the recently completed Phase 2 OVATION 2 Study, which assessed IMNN-001 (100 mg/m2 administered intraperitoneally weekly) plus neoadjuvant and adjuvant chemotherapy (N/ACT) of paclitaxel and carboplatin compared to standard-of-care N/ACT alone in 112 patients with newly diagnosed advanced ovarian cancer.

About Epithelial Ovarian Cancer

Epithelial ovarian cancer is the sixth deadliest malignancy among women in the U.S. There are approximately 20,000 new cases of ovarian cancer every year and approximately 70% are diagnosed in advanced stage III/IV. Epithelial ovarian cancer is characterized by dissemination of tumors in the peritoneal cavity with a high risk of recurrence (75%, stage III/IV) after surgery and chemotherapy. Since the five-year survival rates of patients with stage III/IV disease at diagnosis are poor (41% and 20%, respectively), there remains a need for a therapy that not only reduces the recurrence rate but also improves overall survival. The peritoneal cavity of advanced ovarian cancer patients contains the primary tumor environment and is an attractive target for a regional approach to immune modulation.

(Press release, IMUNON, MAR 25, 2026, View Source [SID1234663902])

Tempus Announces Strategic Collaboration with Daiichi Sankyo to Advance AI-Driven Biomarker Discovery and Clinical Differentiation Across an ADC Clinical Program

On March 25, 2026 Tempus AI, Inc., a leader in artificial intelligence and precision medicine, reported a strategic collaboration with Daiichi Sankyo (TSE: 4568) aimed at accelerating the clinical development and differentiation of an antibody drug conjugate (ADC) program in oncology.

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Through this collaboration, Daiichi Sankyo will leverage Tempus’ proprietary foundation models and AI expertise, including PRISM2, a state-of-the-art, multimodal foundation model that combines pathology images and clinical data to generate rich diagnostic and predictive insights. By combining clinical trial and preclinical research data from Daiichi Sankyo with Tempus’ comprehensive real-world data, the collaboration aims to unlock new opportunities for biomarker discovery and patient stratification.

Tempus and Daiichi Sankyo will develop proof-of-concept AI models to optimize patient selection and increase probability of success for a novel ADC. By deploying these models across Tempus’ expansive oncology database, the collaboration will generate detailed response maps, enabling precise patient stratification and supporting rigorous benchmarking of potential control arms for future clinical trials.

"Our collaboration with Daiichi Sankyo signals a new chapter in how multimodal AI and real-world data can be applied to advance the development of ADCs," said Ryan Fukushima, CEO of Data and Apps at Tempus. "Our multimodal foundation models seek to radically accelerate and improve our ability to uncover unmet patient needs and identify patients most likely to benefit from novel therapies. Applying AI in clinical development isn’t just about efficiency anymore, leading companies like Daiichi Sankyo are using these models to enhance the design of more targeted, impactful clinical trials."

(Press release, Tempus, MAR 25, 2026, https://www.businesswire.com/news/home/20260325439177/en/Tempus-Announces-Strategic-Collaboration-with-Daiichi-Sankyo-to-Advance-AI-Driven-Biomarker-Discovery-and-Clinical-Differentiation-Across-an-ADC-Clinical-Program [SID1234663918])

KYORIN Enter into Distribution and Promotion Agreement with Johnson & Johnson for SIRTURO

On March 25, 2026 KYORIN Pharmaceutical Co., Ltd. reported that it has entered into an exclusive distribution and promotion agreement with Johnson & Johnson (the legal entity for the prescription pharmaceuticals business in Japan, operating as Janssen Pharmaceutical K.K., headquartered in Chiyoda-ku, Tokyo; President: Christopher Rieger; hereafter "J&J") on March 25, 2026, for SIRTURO (Bedaquiline; hereafter "the Product").

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The Product is currently marketed by J&J as a part of combination therapy in patients with multidrug-resistant pulmonary tuberculosis (MDR-TB). Furthermore, J&J is currently conducting Phase 2/3 clinical trials in patients with treatment-refractory Mycobacterium avium complex-lung disease (MAC-LD) to expand its approved indications.

Under this agreement, KYORIN will commence sole promotional activities for the Product from June 2026. Furthermore, upon obtaining approval for the additional indication of MAC-LD, KYORIN will receive product supply from J&J and exclusively distribute and promote the Product.

The Product is a diarylquinoline antimycobacterial drug marketed globally by J&J. It specifically inhibits ATP synthase, which is essential for the energy production of Mycobacterium tuberculosis, and exhibits antibacterial activity against both actively replicating and dormant cells. In Japan, it has been available since 2018 for the treatment of MDR-TB, with strains of Mycobacterium tuberculosis susceptible to the Product as the indicated bacterial species. As an oral medication, the standard dosage for adults is 400 mg once daily for the first two weeks, followed by 200 mg three times per week (with at least 48 hours between doses) from the third week onwards, to be taken with food. Furthermore, it is required that the Product always be used in combination with other antimycobacterial drugs.

In its medium-term business plan, "Vision 110 – Stage1 -", KYORIN aims for the "expansion of development pipeline through in-licensing", focusing on products that are expected to contribute early to business results. Under the "Franchise Customer (FC) Strategy", which concentrates resources on the specialized areas of respiratory, otolaryngology, and urology. KYORIN strives to contribute to the treatment of patients suffering from infectious diseases by adding this drug to product lineup.

The impact on business performance for the fiscal year ending March 31, 2026 is expected to be negligible.
There are no capital, personnel, or business relationships between KYORIN and J&J, and neither party is considered a related party to the other.

(Press release, Kyorin, MAR 25, 2026, View Source [SID1234663903])

TRIANA Biomedicines’ TRI-611 Granted U.S. FDA Fast Track Designation for Treatment of ALK Positive Non-small Cell Lung Cancer

On March 25, 2026 TRIANA Biomedicines, Inc. (TRIANA), a leading biopharmaceutical company focused on advancing a target-first and proximity-first molecular glue discovery platform to address difficult to drug disease targets, reported that the U.S. Food and Drug Administration (FDA) granted Fast Track designation for TRI-611, an investigational molecular glue degrader therapy for the treatment of anaplastic lymphoma kinase–positive (ALK+) non-small cell lung cancer (NSCLC).

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Fast Track designation is a U.S. Food and Drug Administration (FDA) program intended to accelerate the development and review of new drugs that have the potential to treat serious conditions and address urgent unmet medical needs.

"This Fast Track designation underscores the potential of TRI-611 to address the significant unmet need for patients with ALK+ NSCLC who have been previously treated with two or more ALK tyrosine kinase inhibitors," said Dr. Patrick Trojer, President and CEO of TRIANA. "TRI-611 was designed as an innovative therapeutic approach to target ALK fusion proteins. We look forward to working closely with the FDA to potentially bring TRI-611 forward to the lung cancer patient community."

Earlier in March 2026, TRIANA announced that the first patient had been treated with TRI-611 in a Phase 1/2 clinical study. The Phase 1/2 trial is a global, first-in-human, open-label study designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary anti-tumor activity of TRI-611 in patients with ALK+ NSCLC. The Phase 1 portion will consist of a dose escalation design, enrolling ALK+ NSCLC patients, who have been previously treated with standard of care ALK tyrosine kinase therapies. The Phase 2 portion will further evaluate and characterize the efficacy and safety of TRI-611 across different patient cohorts. For more information, visit ClinicalTrials.gov (NCT07491497).

About TRI-611

TRI-611 is a novel oral, small-molecule, investigational therapy designed to target and degrade ALK fusion proteins in patients with ALK+ NSCLC. TRI-611 is a potent, brain-penetrant molecular glue degrader that brings ALK fusion proteins and the E3 ligase enzyme cereblon together through a unique binding mechanism that works independently of the ALK kinase active site and harnesses the body’s innate protein-degradation machinery to selectively eliminate the ALK fusion protein. TRI-611 is designed to overcome the limitations observed with currently available ALK inhibitors.

(Press release, Triana Biomedicines, MAR 25, 2026, View Source [SID1234663919])