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Exicure concludes public offering at USD2.00 per share
5 August 2019 -

Immunotherapeutic drugs company Exicure Inc (Nasdaq:XCUR) revealed on Friday the completion of its underwritten public offering of 31,625,000 shares of its common stock at USD2.00 per share.

This public offering included the exercise in full by the underwriters of their option to purchase 4,125,000 additional shares of common stock from the company.

Prior to deducting the underwriting discounts and commissions and estimated offering expenses, the company received gross proceeds of USD63.25m from the sale of common stock in the offering,

Net proceeds from the offering may be used by the company to advance AST-008 through a Phase 1b/2 clinical trial; to develop an SNA therapeutic candidate for a neurology condition, to advance it into Phase 1 clinical trials as well as for general corporate purposes.

In conjunction with the offering, Guggenheim Securities acted as sole book-running manager. Chardan acted as lead manager. HC Wainwright & Co and Ladenburg Thalmann acted as co-managers. The company's common stock began trading on the Nasdaq Capital Market under the symbol XCUR at the opening of trading on 31 July 2019. It expects to appoint to its board an individual designated by Abingworth LLP as well as an individual designated by another investor.

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