Summary by Moomoo AI
On May 16, 2024, Exicure, Inc., a biotechnology company historically focused on nucleic acid therapies, reported its financial results for the third quarter ended September 30, 2023. The company disclosed a significant decrease in cash and cash equivalents, from $8.6 million at the end of 2022 to $0.9 million as of September 30, 2023, and further down to $0.2 million by April 30, 2024. Exicure highlighted the need for immediate additional funding to continue operations. Research and development expenses for the quarter were reported at $0, reflecting the cessation of all research and development activities following a restructuring announced in September 2022. General and administrative expenses remained relatively stable at $2.4 million. The net loss for the quarter was $5.3 million, a slight increase from the $5.2 million loss in the same period the previous year. The company's management expressed concerns about the ability to continue funding operations without substantial additional financing, which is needed imminently to pay expenses and explore strategic alternatives.