Therapy Areas: Inflammatory Diseases
Exicure Closes Common Stock Offering
5 August 2019 - - US-based gene regulatory and immunotherapeutic drugs specialist Exicure, Inc. (NASDAQ: XCUR) has closed an underwritten public offering of 31.625m shares of its common stock to the public at USD 2.00 per share, which included the exercise in full by the underwriters of their option to purchase 4.125m additional shares of common stock, the company said.

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.

The company received gross proceeds of USD 63.25m 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 plans 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 and Co. and Ladenburg Thalmann acted as co-managers for the offering.

Exicure is a clinical-stage biotechnology company developing therapeutics for immuno-oncology, inflammatory diseases and genetic disorders based on its proprietary Spherical Nucleic Acid, or SNA technology.

The company's lead programme is in a Phase 1b/2 trial in patients with advanced solid tumors. Exicure is based outside of Chicago, IL and in Cambridge, MA. 
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