Home / Going-concern warnings / EXICURE, INC.
Filed 2026-03-25 路 Form 10-K 路 Accession 0001698530-26-000028 nano
Price before filing: $4.47 (2026-03-24 close, split/dividend-adjusted)
Market cap at flag: $29.4M (2026-03-25) 路 Latest: $7.1M (2026-10-16)
| Window | XCUR | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -22.4% | +9.3% | -31.7% | 2026-04-24 |
| 90 days | -38.9% | +12.6% | -51.5% | 2026-06-23 |
| 180 days | -71.8% | +19.0% | -90.8% | 2026-09-21 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $7.8M (3 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-01-07 | Exicure HiTron Inc. 10% owner | Sale | 741,272 | $4.50 | $3.3M | no | Form 4 |
| 2026-01-16 | Exicure HiTron Inc. 10% owner | Sale | 734,747 | $4.50 | $3.3M | no | Form 4 |
| 2026-01-21 | Exicure HiTron Inc. 10% owner | Sale | 258,367 | $4.50 | $1.2M | no | Form 4 |
| 2026-03-25: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-25 to 2026-04-24. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As a result, there is substantial doubt about our ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-K (period 2025-12-31)
Why this score: also within 90 days: Late quarterly report (NT 10-Q)
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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