Exicure plummets after flagging 'going concern' risk

Exicure

25/03/2022 21:03

** Biotech co Exicure Inc's shares  XCUR.O  drop 12% to
$0.23 after market
    ** XCUR says there is "substantial doubt" over the co's
ability to continue as a going concern by the end of the year
    ** "Going concern" refers to a company with stable
financials that is expected to continue doing business in the
foreseeable future
    ** Co reports 2021 net loss of $64.1 mln vs $24.7 mln loss
in the prior year
    ** XCUR says expenses on research and development jumped 53%
in the year, while general and administrative costs soared 31%
    ** Expenses jumped as a result of new hires, severance costs
tied to its December restructuring and higher number of clinical
activities in the year - XCUR
    ** Says it expects to generate operating losses and negative
operating cash flows in the future, and will continue to need
additional funding 
    ** YTD, shares have gained 54%, as of last close

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))