Exicure, Inc. (XCUR), a clinical-stage biotechnology company, has surged 8.86% in aftermarket trading session. As a result, XCUR stock is trading at $0.22 at the time of the writing. On Friday, XCUR closed the day at $0.20 after increasing by 3.32% during the regular trading session. The increase in stock has come amid the investigations against the company regarding the violation of federal securities law.
Investigations Against XCUR
The investigations against XCUR are based on the complaint that the company had made false and misleading statements to the market. The company’s preclinical program for the treatment of Friedreichs ataxia suffered from numerous improprieties. As a result of that, a significant risk was created that the clinical program would not support the continued development of the treatment. Based on these complaints, the company’s public statements were deemed to be false and materially misleading.
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Q3 2021 Operational Results
On 19th November, XCUR released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated total revenue of $3.6 million against $2.4 million for the same quarter of 2020. The total operating expenses for the three months stood at $19.4 million against $11.5 million for the same three-month period of 2020. The net loss suffered by the company during the period was $23.5 million (or $0.27 per basic and diluted share) against $8.8 million (or $0.10 per basic and diluted share) for the same period of 2020.
While commenting on the results, XCUR CEO Dr David Giljohann said that the company continued to invest in driving value from the SNA platform technology during the quarter. The company is high;y confident in its platform technology which delivers DNA and RNA into the cells more effectively and efficiently.
Future Outlook for XCUR
The last three months have seen XCUR stock decline by more than 80% on the allegations of securities fraud. However, on the business front, the company has achieved tremendous success during the period which has been got overshadowed by the allegations Analysts believe that the stock would be back on track of success in the near future.