Exicure, Inc. Reports Full Year 2025 Financial Results

Financial Overview - The company reported a cash position of $3.7 million as of December 31, 2025, down from $12.5 million as of December 31, 2024, indicating potential liquidity issues for the next 12 months [2] - The net loss for the year ended December 31, 2025, was $4.9 million, a decrease from a net loss of $9.7 million in 2024, primarily due to a $6.0 million gain from lease liability reversal [7] Research and Development - Research and development expenses increased to $3.3 million for the year ended December 31, 2025, compared to $0 in 2024, reflecting activities following the acquisition of GPCR Therapeutics USA Inc. [3] General and Administrative Expenses - General and administrative expenses rose to $6.8 million in 2025 from $5.4 million in 2024, driven by costs associated with the acquisition and integration of GPCR USA [4] Other Income and Expenses - The company recognized a $6.0 million gain from the early termination of its lease in Chicago, effective January 31, 2025 [5] - Other income included a $346,000 gain in Q3 2025 from satisfying self-insured retention, but there were losses totaling $1,553,000 related to changes in fair value of contingent liabilities and $275,000 from the sale of its subsidiary, KC Creation [6] Balance Sheet Highlights - Total assets decreased to $14.0 million as of December 31, 2025, from $15.1 million in 2024, with current assets also declining significantly [13][14] - Total liabilities increased to $10.1 million in 2025 from $8.3 million in 2024, with a notable rise in accounts payable and contingent consideration [13][14] Company Background - Exicure, Inc. is an early-stage biotechnology company focused on developing nucleic acid therapies. Following a restructuring, the company is exploring strategic alternatives to maximize stockholder value and has acquired a clinical-stage biotechnology company [9]