Source: Exicure, Inc. 7/31/19
Exicure, Inc. (OTCQB: XCUR), a pioneer in gene regulatory and
immunotherapeutic drugs utilizing spherical nucleic acid (SNA™)
constructs, today announced that its common stock will begin trading on
the Nasdaq Capital Market under the symbol “XCUR” at the opening of
trading on July 31, 2019, following its previously announced approval to
list its common stock on the Nasdaq Capital Market.
Exicure also announced today the pricing of the previously announced
underwritten public offering of 27,500,000 shares of its common stock at
a price to the public of $2.00 per share. Exicure has also granted the
underwriters a 30-day option to purchase up to an additional 4,125,000
shares of common stock to cover overallotments, if any. The offering is
expected to close on or about August 2, 2019 subject to customary
closing conditions.
Exicure expects to receive gross proceeds of $55 million from the sale
of common stock in the offering, prior to deducting the underwriting
discounts and commissions and estimated offering expenses payable by it.
Exicure intends to use the net proceeds from the offering to advance
AST-008 through a Phase 1b/2 clinical trial; to develop an SNA
therapeutic candidate for a neurology condition and advance it into
Phase 1 clinical trials; and for general corporate purposes.
Guggenheim Securities is acting as sole book-running manager for the
offering. Chardan is acting as lead manager for the offering. H.C.
Wainwright & Co. and Ladenburg Thalmann are acting as co-managers
for the offering.
The securities described above are being offered by Exicure pursuant to a
shelf registration statement on Form S-3 (No. 333-230175) that was
declared effective by the Securities and Exchange Commission (SEC) on
July 24, 2019. A preliminary prospectus supplement and accompanying
prospectus relating to the offering were filed with the SEC and are
available on the SEC’s website located at www.sec.gov.
A final prospectus supplement and accompanying prospectus describing
the terms of the offering will be filed with the SEC and will be
available on the SEC’s website. Copies of the final prospectus
supplement and the accompanying prospectus relating to this offering may
also be obtained, when available, from: Guggenheim Securities, LLC
Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY
10017 or by telephone at (212) 518-5548, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that state or jurisdiction.
About Exicure, Inc.
Exicure, Inc. is a clinical-stage biotechnology company developing
therapeutics for immuno-oncology, inflammatory diseases and genetic
disorders based on our proprietary Spherical Nucleic Acid, or SNA
technology. Exicure believes that its proprietary SNA architecture has
distinct chemical and biological properties that may provide advantages
over other nucleic acid therapeutics and may have therapeutic potential
to target diseases not typically addressed with other nucleic acid
therapeutics. Exicure's lead program is in a Phase 1b/2 trial in
patients with advanced solid tumors. Exicure is based outside of
Chicago, IL and in Cambridge, MA. www.exicuretx.com
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