Business Context and Reporting Period
This Form 8-K Current Report was filed by Exicure, Inc. on April 14, 2025. The filing primarily addresses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures for the current period. The document focuses exclusively on the transition of audit services.
Material Changes
- Accountant Resignation: Marcum LLP resigned as the Company's independent registered public accounting firm effective April 10, 2025.
- New Engagement: CBIZ CPAs P.C. was engaged to serve as the independent registered public accounting firm for the fiscal year ending December 31, 2025, effective immediately upon Marcum's resignation.
- Reason for Change: The change resulted from CBIZ CPAs acquiring the attest business of Marcum LLP, effective November 1, 2024.
- Audit History: Marcum's reports for fiscal years 2023 and 2024 did not contain adverse opinions but included an explanatory paragraph regarding the Company's ability to continue as a going concern.
- Internal Controls: A material weakness in internal control over financial reporting, identified as of June 30, 2023, remains unremediated. No disagreements or reportable events occurred between the Company and Marcum regarding accounting principles or audit scope.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, revenue outlook, or management commentary regarding future business performance. The primary risk disclosed is the continuing material weakness in internal controls over financial reporting and the historical going concern qualification noted in prior audit reports.
Investor Verification Checklist
- Verify the status of the unremediated material weakness in internal controls over financial reporting.
- Review the Company's most recent 10-Q or 10-K to assess the current liquidity position and the ongoing "going concern" status.
- Confirm the transition timeline and any potential delays in the audit process due to the change in accounting firms.
- Check for any subsequent filings that may address the going concern qualification or provide updated financial results.