Exicure hits all-time-low after warning of going concern risk, Q3 result

Exicure

19/11/2021 14:52

** Exicure's shares  XCUR.O  fall 15% to $0.56, an
all-time-low, after drug developer flags going concern risk and
reports wider-than-expected Q3 loss
    ** Co posts quarterly loss of 27 cents per share versus
expected loss of 10 cents, per Refinitiv data
    ** Co saw a major increase in expenses in Q3 due to higher
legal costs as well as new hire costs, it said
    ** On Tues, co said it was unable to file its Sept. quarter
10-Q report due to an internal probe regarding claims of alleged
improprieties  urn:newsml:reuters.com:*:nL4N2S72SF
    ** "It is uncertain whether existing cash...is sufficient to
fund operations over the next twelve months. As a result, there
is substantial doubt about the Company's ability to continue as
a going concern," co says 
    ** XCUR adds that due to COVID-19 enrollment delays, it now
expects to post top-line overall response rate results in H2
2022 vs prior H1 2022
    ** Shares are headed for their worst weekly session ever;
stock down ~68% YTD

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))