Exicure, Inc. Reports Third Quarter 2025 Financial Results

Core Insights - Exicure, Inc. reported a net loss of $2.4 million for Q3 2025, an increase from a net loss of $1.1 million in Q3 2024, primarily due to increased operating expenses following the acquisition of GPCR Therapeutics USA Inc. [6][8] Financial Performance - Cash and cash equivalents decreased to $4.4 million as of September 30, 2025, down from $12.5 million as of December 31, 2024 [2]. - Research and development expenses for Q3 2025 were $0.9 million, compared to $0 for Q3 2024, reflecting the costs incurred after acquiring GPCR USA [3]. - General and administrative expenses rose to $1.5 million in Q3 2025 from $1.4 million in Q3 2024, largely due to additional costs from the GPCR USA acquisition [4]. - The company recognized a loss of $246,000 related to changes in the fair value of its contingent liability, while also recording a gain of $155,000 from satisfying its self-insured retainer [5]. Balance Sheet Highlights - Total assets as of September 30, 2025, were $15.3 million, slightly up from $15.1 million as of December 31, 2024 [12][13]. - Current liabilities decreased to $2.8 million from $3.1 million over the same period [12]. - Stockholders' equity increased to $6.9 million as of September 30, 2025, compared to $6.8 million at the end of 2024 [13]. Strategic Outlook - The company is exploring strategic alternatives to maximize stockholder value following its restructuring and the acquisition of GPCR USA, which focuses on developing therapeutics for hematologic diseases [8]. - Management expressed concerns that the current cash position is insufficient to fund ongoing operations, indicating a need for substantial additional financing in the short term [7].