Exicure Announces Proposed Public Offering of Common Stock
December 18 2019 - 4:01PM
Business Wire
Exicure, Inc. (Nasdaq: XCUR), a pioneer in gene regulatory and
immunotherapeutic drugs utilizing spherical nucleic acid (SNA™)
constructs, announced today that it intends to offer and sell
shares of its common stock in an underwritten public offering. In
addition, Exicure intends to grant the underwriters a 30-day option
to purchase up to an additional fifteen percent (15%) of the shares
of its common stock offered in the public offering. All of the
shares are being offered by Exicure. The offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Exicure intends to use the net proceeds from the offering to
advance AST-008 through a Phase 1b/2 clinical trial; to initiate a
second arm in its Phase 1b/2 clinical trial in cutaneous squamous
cell carcinoma; to develop an SNA-based therapeutic candidate for
the treatment of Friedreich’s ataxia, initiate IND-enabling studies
and advance it into Phase 1 clinical trials; to develop a second
SNA therapeutic candidate for a neurology condition and initiate
IND-enabling studies; and for general corporate purposes.
Guggenheim Securities is acting as sole book-running manager 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 will be filed with the SEC and will be available on the
SEC’s website located at www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained, when available, by contacting:
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. Any offer, if at all, will be made only by
means of the prospectus supplement and accompanying prospectus
forming a part of the effective registration statement.
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.
Exicure 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, cash
requirements and other matters as well as statements regarding the
Company’s intention to conduct an offering and sale of securities,
the size of the offering, the completion of the proposed offering
and the expected use of proceeds from the proposed 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; 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
(including without limitation its cash runway guidance) or to make
any other forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191218005732/en/
MacDougall Karen Sharma 781-235-3060 ksharma@macbiocom.com
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