Exicure Announces the Closing of its Offering of Common Stock & Full Exercise of the Underwriters’ Option to Purchase Addit...
August 02 2019 - 10:21AM
Business Wire
Exicure, Inc. (Nasdaq: XCUR), a pioneer in gene regulatory and
immunotherapeutic drugs utilizing spherical nucleic acid (SNA™)
constructs, today announced the closing of its previously announced
underwritten public offering of 31,625,000 shares of its common
stock to the public at $2.00 per share, which included the exercise
in full by the underwriters of their option to purchase 4,125,000
additional shares of common stock.
In connection with the offering, Exicure’s common stock began
trading on the Nasdaq Capital Market under the symbol “XCUR” at the
opening of trading on July 31, 2019. Exicure expects to appoint to
its board of directors an individual designated by Abingworth LLP
and an individual designated by another investor in connection with
their participation in the offering.
Exicure received gross proceeds of $63.25 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 acted as sole book-running manager for the
offering. Chardan acted as lead manager for the offering. H.C.
Wainwright & Co. and Ladenburg Thalmann acted as co-managers
for the offering.
The securities described above were 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 final prospectus supplement and
accompanying prospectus describing the terms of the offering was
filed with the SEC on August 1, 2019 and is available on the SEC’s
website located at www.sec.gov. Copies of the final prospectus
supplement and the accompanying prospectus may also be obtained
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
Forward Looking Statements
This press release contains forward-looking statements
(including within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended, and Section 27A of the
United States Securities Act of 1933, as amended) concerning the
Company, the Company’s technology, potential therapies, designation
of directors and other matters as well as statements regarding the
expected use of proceeds from the offering. Forward-looking
statements generally include statements that are predictive in
nature and depend upon or refer to future events or conditions, and
include words such as “may,” “will,” “should,” “would,” “expect,”
“plan,” “believe,” “intend,” “look forward,” and other similar
expressions among others. Statements that are not historical facts
are forward-looking statements. Forward-looking statements are
based on current beliefs and assumptions that are subject to risks
and uncertainties and are not guarantees of future performance.
Actual results could differ materially from those contained in any
forward-looking statement as a result of various factors,
including, without limitation: unexpected costs, charges or
expenses that reduce cash runway; that Exicure’s pre-clinical or
clinical programs do not advance or result in approved products on
a timely or cost effective basis or at all; the cost, timing and
results of clinical trials; that many drug candidates that have
completed Phase 1 trials do not become approved drugs on a timely
or cost effective basis or at all; the ability to enroll patients
in clinical trials; possible safety and efficacy concerns;
regulatory developments; and the ability of Exicure to protect its
intellectual property rights. Risks facing the Company and its
programs are set forth in the Company’s filings with the SEC.
Except as required by applicable law, the Company undertakes no
obligation to revise or update any forward-looking statement, or to
make any other forward-looking statements, whether as a result of
new information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190802005293/en/
MacDougall Karen Sharma 781-235-3060 ksharma@macbiocom.com
Exicure (NASDAQ:XCUR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Exicure (NASDAQ:XCUR)
Historical Stock Chart
From Jul 2023 to Jul 2024