CHICAGO - Exicure , Inc. (NASDAQ:XCUR), a biotechnology firm, has been granted an extension by the Nasdaq Hearings Panel to meet the continued listing requirements of The Nasdaq Capital Market. The company must demonstrate compliance with all applicable criteria by September 16, 2024, to maintain its listing.
The announcement made on Wednesday follows the company's recent operational changes, including a halt in clinical and development activities and a strategic review to enhance stockholder value. Exicure's focus has been on developing nucleic acid therapies that target ribonucleic acid (RNA) for various diseases.
The Panel's decision provides Exicure with an opportunity to address the listing deficiencies that had put its Nasdaq status at risk. The company has expressed its commitment to fulfilling the Panel's conditions within the specified timeframe.
The future of Exicure's listing will depend on its ability to rectify the current deficiencies and potentially address any new ones that may arise. Despite the company's efforts, there is no certainty that it will meet the compliance requirements by the deadline or maintain its listing thereafter.
Exicure has stated it will not provide updates or revisions to these forward-looking statements unless legally required. The company's recent restructuring and search for strategic alternatives aim to leverage its biotechnology assets and maximize shareholder returns.
In other recent news, biotechnology firm Exicure, Inc. faces suspension and delisting from The Nasdaq Stock Market LLC due to filing delays. The company has failed to submit its annual report for the year ended December 31, 2023, and its first-quarter report for 2024 by the extended deadline of May 20, 2024. In addition, Exicure has not held its 2023 Annual Meeting of Stockholders, further exacerbating the delisting issue.
The suspension of trading on The Nasdaq Capital Market is scheduled to begin on May 30, 2024, unless Exicure appeals by May 28, 2024. While the company can seek an extended stay during the hearings process, there is no assurance that this extension will be granted. Amid these developments, Exicure's management is diligently working to complete and file the overdue Form 10-K and the Q1 Form 10-Q.
While traditionally focusing on the development of nucleic acid therapies, Exicure is now exploring strategic alternatives to boost stockholder value, especially given the suspension of its clinical and development activities. These are the latest developments involving the company.
InvestingPro Insights
As Exicure, Inc. (NASDAQ:XCUR) navigates through its operational changes and aims to meet Nasdaq's listing requirements, investors may find the following InvestingPro Data and Tips relevant to assess the company's current financial health and market performance:
InvestingPro Data shows a challenging financial landscape for Exicure, with a market capitalization of just $4.24 million and a negative P/E ratio of -0.3, reflecting the company's lack of profitability in the last twelve months as of Q1 2024. Additionally, the company has experienced a significant revenue decline of -98.1% during the same period, indicating the hurdles it faces in generating sales.
The company's stock has also demonstrated high volatility, with a price total return of -54.14% over the past year, underscoring the risks associated with investing in the firm. The volatility is further highlighted by a 39.04% return over the last month, despite a broader downward trend.
InvestingPro Tips highlight that management's aggressive share buybacks and a high shareholder yield may be points of interest for investors. However, with short-term obligations exceeding liquid assets and analysts not anticipating profitability this year, the company's financial stability is under scrutiny.
For those looking for more in-depth analysis, there are 12 additional InvestingPro Tips available for Exicure, Inc. at https://www.investing.com/pro/XCUR. These tips could provide valuable insights into the company's stock performance and potential investment strategies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.