CHICAGO - Exicure , Inc. (NASDAQ:XCUR), a biotechnology firm, has been issued a notice of non-compliance from Nasdaq Stock Market LLC due to its failure to file the required Annual Report on Form 10-K for the year ended December 31, 2023, on time.
This delay violates Nasdaq's Listing Rule 5250(c)(1), which mandates listed companies to submit all periodic financial reports promptly to the U.S. Securities and Exchange Commission (SEC).
The notice, received on April 17, 2024, requires Exicure to submit an updated plan to regain compliance regarding its filing requirements. This update follows a previous delinquency concerning the company's Form 10-Q for the quarter ended September 30, 2023. Nasdaq had previously granted Exicure an extension until May 20, 2024, to file the overdue third-quarter Form 10-Q. The same deadline now applies to submit all delinquent filings, including the annual Form 10-K.
Exicure has stated it is working diligently to complete and file the Form 10-K as soon as possible to regain compliance with Nasdaq's rules.
Historically, Exicure has developed nucleic acid therapies targeting ribonucleic acid against validated targets. Following a restructuring and suspension of its clinical and development activities, the company is currently exploring strategic alternatives to maximize shareholder value. This includes evaluating options for its biotechnology assets and other opportunities.
The press release from Exicure contained forward-looking statements regarding its plans and objectives, including the pursuit of strategic alternatives. However, it is important to note that such statements are based on current management beliefs and assumptions and are subject to risks and uncertainties. These could cause actual results to differ materially from those projected in the forward-looking statements.
The information provided in this article is based on a press release statement from Exicure, Inc.
InvestingPro Insights
In light of Exicure's recent notice of non-compliance from Nasdaq, investors may seek additional context to assess the company's financial health and market position. According to InvestingPro data, Exicure's market capitalization stands at a modest $4.59 million, reflecting the market's current valuation of the company.
Despite the challenges, Exicure has reported a notable revenue growth, with the last twelve months as of Q2 2023 showing an increase of 584.21%, bringing their revenue to $23.79 million. This surge is an important metric, indicating a significant upward trajectory in the company's sales performance.
Still, the company's P/E ratio has also seen an adjustment, with the latest figure for the last twelve months as of Q2 2023 at 1.52, which suggests a low valuation level relative to earnings. This could be interpreted as a potential undervaluation of Exicure's stock, or it might reflect market skepticism about the company's future earnings potential. Moreover, Exicure's stock has experienced a substantial price decline, with a one-year total return of -43.34% as of the given date.
InvestingPro Tips highlight several key points for Exicure. The company is operating with a significant debt burden and is quickly burning through cash, which could be concerning for investors considering the company's financial sustainability.
Analysts anticipate a sales decline in the current year, and the consensus is that the company will not be profitable within this timeframe. These insights may provide valuable information for investors considering the company's future prospects.
For those interested in a deeper analysis, InvestingPro offers additional insights on Exicure. There are 11 more InvestingPro Tips available, which could further inform investment decisions. To explore these tips, visit https://www.investing.com/pro/XCUR and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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