Exicure, Inc.

Exicure, Inc. reported a net loss of $4.9 million for FY 2025, a 49% improvement from $9.7 million in FY 2024, driven by reduced operating expenses to $4.2 million from $12.7 million, including a $6.0 million gain on early lease termination offsetting R&D of $3.3 million and G&A of $6.8 million. Revenue was $0, down 100% from $0.5 million in 2024 from a patent license. Operating loss narrowed to $4.2 million from $12.2 million. Other income net was a $1.3 million expense versus $2.5 million income prior year, impacted by $1.6 million change in contingent liability fair value. Balance sheet shows total assets of $14.0 million, cash at $3.7 million, liabilities $10.1 million, equity $3.9 million. Cash used in operations was $8.6 million, investing $1.8 million (GPCR acquisition), financing provided $1.6 million, net cash decrease $8.8 million. Going concern doubt persists due to limited liquidity; company explores strategic alternatives including acquisitions like GPCR USA, with milestone payments pending.

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