Business Context and Reporting Period
Company: EXICURE, INC. (Nasdaq: XCUR)
Filing Type: Form 8-K (Current Report)
Report Date: May 28, 2025
Event Date: May 21, 2025
Context: The Company reported receiving a delinquency notification from The Nasdaq Stock Market LLC regarding a failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report addresses a regulatory compliance issue rather than reporting financial performance data.
Material Changes
- Listing Status: The Company is currently not in compliance with Nasdaq Listing Rule 5250(c)(1) due to the delayed filing of the Form 10-Q.
- Regulatory Action: Nasdaq issued a delinquency notification letter on May 21, 2025.
Guidance, Outlook, and Risks
Management Commentary: Management stated it is working diligently to complete the Form 10-Q and intends to file it as soon as practicable to regain compliance.
Compliance Timeline:
- The Company has 60 calendar days to submit a plan to Nasdaq to address the non-compliance.
- If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the original due date.
- The potential deadline to regain compliance is November 17, 2025.
Risks: Failure to regain compliance within the specified timeframe could result in the delisting of the Company's common stock from The Nasdaq Stock Market.
Investor Verification Checklist
- Verify the status of the Form 10-Q for the quarter ended March 31, 2025, and confirm if it has been filed with the SEC.
- Monitor whether the Company submits a compliance plan to Nasdaq within the 60-day window.
- Check for any subsequent announcements regarding the acceptance of the compliance plan or the granting of an extension by Nasdaq.
- Review the Company's press release dated May 28, 2025 (Exhibit 99.1) for additional details on the delay.