Financial Performance - As of June 30, 2023, total assets decreased to $17.555 million from $23.328 million as of December 31, 2022, reflecting a decline of approximately 24.8%[28] - Cash and cash equivalents dropped significantly to $2.335 million from $8.577 million, a decrease of about 72.7%[28] - Total stockholders' equity fell to $9.705 million from $14.922 million, representing a decline of approximately 35.0%[28] - The company reported an accumulated deficit of $182.820 million as of June 30, 2023, compared to $172.649 million at the end of 2022, indicating ongoing financial losses[28] - Total revenue for Q2 2023 was $0, a decrease from $2,471,000 in Q2 2022, and total revenue for the first half of 2023 was also $0 compared to $5,036,000 in the same period of 2022[31] - The net loss for Q2 2023 was $5,764,000, an improvement of 22.8% compared to a net loss of $7,470,000 in Q2 2022, and the net loss for the first half of 2023 was $10,171,000, down 35.1% from $15,818,000 in the same period of 2022[34] - Basic and diluted loss per common share for Q2 2023 was $0.68, compared to $1.66 in Q2 2022, and for the first half of 2023, it was $1.38, down from $3.71 in the same period of 2022[31] Operating Expenses - Operating expenses for Q2 2023 were $5,642,000, down 43.5% from $9,954,000 in Q2 2022, and total operating expenses for the first half of 2023 were $10,181,000, a decrease of 50.3% from $20,256,000 in the same period of 2022[31] - General and administrative expense for the three months ended June 30, 2023, was $4.7 million, an increase of $1.5 million, or 47%, from $3.2 million in the same period of 2022, mainly due to higher separation pay and related costs[157] - General and administrative expenses increased to $7.3 million for the six months ended June 30, 2023, a rise of 14% from $6.4 million in the same period of 2022, mainly due to higher executive separation pay and consulting fees[163] - The company incurred a total equity-based compensation expense of $969,000 for the three months ended June 30, 2023, compared to $507,000 for the same period in 2022, reflecting an increase of 91%[107] Cash Flow and Financing - Cash used in operating activities for the first half of 2023 was $8,129,000, a decrease of 62.8% from $21,834,000 in the same period of 2022[43] - The company plans to raise capital in Q3 2023 to fund operations through 2024, but there is no assurance that such financing will be available on acceptable terms[56] - The company raised gross proceeds of approximately $5.4 million from a private placement on February 24, 2023, with net proceeds of about $4.6 million after transaction expenses[142] - Net cash provided in financing activities was $3.7 million for the six months ended June 30, 2023, attributed to a private placement that closed in February 2023[174] Strategic Alternatives and Risks - The company is exploring strategic alternatives to maximize stockholder value, facing substantial uncertainties regarding potential partnerships and funding[13] - There is a significant risk of delisting from Nasdaq due to non-compliance with continued listing requirements, which could adversely affect stock price and liquidity[23] - The company anticipates ongoing significant losses for the foreseeable future, raising concerns about its ability to achieve profitability[23] - The company has substantial doubt about its ability to continue as a going concern without raising additional financing within the next several months[139] Shareholder Information - The company has 8,648,307 shares of common stock issued and outstanding as of June 30, 2023, compared to 4,965,901 shares as of December 31, 2022[78] - Following the PIPE, CBI USA became the beneficial owner of approximately 50.4% of the Company's outstanding shares and designated three members to the board of directors[83] - The Company completed a private placement (PIPE) on February 24, 2023, issuing 3,400,000 shares at a price of $1.60 per share, raising gross proceeds of $5,440, with net proceeds of $4,597 after expenses[82][83] Legal and Compliance Issues - The company intends to move to dismiss a second amended complaint in a securities class action lawsuit filed against it[125] - The company has received multiple deficiency notices from Nasdaq regarding compliance with listing requirements, including a minimum bid price rule and corporate governance standards[144] - The company is currently evaluating a notice from Northwestern University alleging a breach of the license agreements due to a lack of required development[131] Research and Development - Research and development expense for the three months ended June 30, 2023, was $0.9 million, reflecting a decrease of $5.8 million, or 86%, from $6.7 million in the same period of 2022, primarily due to the suspension of clinical and preclinical activities[153] - Clinical development program expenses decreased by $2.8 million for the six months ended June 30, 2023, primarily due to lower manufacturing and toxicology study costs related to the suspended XCUR-FXN program[163]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39011 ____________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39011 ______________________________________ EXICURE, INC. (Exact name of regis ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39011 ________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39011 ______________________________________ EXICURE, INC. (Exact name of registrant as specified in its ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39011 ____________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39011 ______________________________________ EXICURE, INC. (Exact name of regis ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39011 ________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39011 _____________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39011 ____________________________________ ...