Exicure to Settle GPCR Therapeutics Clinical Milestone Payment Through Equity Issuance
Rhea-AI Summary
Exicure (Nasdaq:XCUR) plans to issue 172,058 shares of common stock to GPCR Therapeutics during August 2026 to settle a $1.0 million clinical milestone obligation under their License and Collaboration Agreement. The payment obligation arose from completion of the Phase 2 clinical trial of Burixafor (GPC-100) and formal submission of the Clinical Study Report to the U.S. Food and Drug Administration on January 16, 2026.
The shares are expected to be issued at a deemed value of $5.81 per share, based on applicable Nasdaq trading data, for an aggregate deemed value of approximately $1.0 million. Exicure submitted a Listing of Additional Shares Notification to Nasdaq on July 31, 2026 and delivered issuance instructions to its transfer agent. The issuance is expected to be completed in August 2026, subject to customary Nasdaq and transfer agent review. Exicure’s CEO said the equity settlement is intended to preserve cash and maintain financial flexibility.
Positive
- $1.0 million milestone settled via equity, preserving cash resources
- Planned issuance of 172,058 shares fixes equity consideration and valuation
- Phase 2 trial of Burixafor (GPC-100) completed with CSR submitted on Jan 16, 2026
Negative
- Issuance of 172,058 new shares adds to share count and dilutes existing holders
- Equity-settled $1.0 million milestone reflects additional non-operating cost obligation
News Explained
If completed, the $1.0 million milestone will be paid in shares, increasing the share count and diluting existing ownership rather than reducing cash.
Exicure expects the August issuance of 172,058 shares to settle the $1.0 million milestone obligation, so the payment remains pending while the disclosed structure would add shares rather than use that consideration as cash.
Issuing additional shares increases the total share count and reduces an existing holder’s percentage ownership, absent offsetting changes; the relevant effect here is dilution if the issuance is completed.
As of
Sources and calculations
- Exicure equity settlement announcement (2026-08-03)
- Dilution definition (2026-07-17)
- Exicure first-quarter fundamentals (2026Q1)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $2,604,000 / ($1,142,000 / 90) = [object Object]
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 30 | Board changes | Neutral | -5.5% | Board expanded and committee memberships changed following a director resignation. |
| Jun 10 | Nasdaq notice | Negative | +2.2% | Nasdaq cited noncompliance with the minimum stockholders’ equity requirement. |
| Jun 01 | Delinquency notice | Negative | -6.6% | Nasdaq issued a delinquency notice after the delayed quarterly filing. |
| Apr 22 | Co-development agreement | Positive | +0.1% | Adbiotech agreed to explore combination therapies using Burixafor. |
| Mar 25 | Full-year results | Negative | +0.0% | Cash declined and management cited insufficient liquidity for the next twelve months. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent reactions diverged for governance, compliance, and financial disclosures, while the co-development announcement produced an essentially flat response.
Key Terms
clinical study report regulatory
phase 2 clinical trial medical
transfer agent financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
WILMINGTON, Del., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Exicure, Inc. (Nasdaq: XCUR) (“Exicure” or the “Company”) today announced that it expects to issue 172,058 shares of its common stock to GPCR Therapeutics, Inc. (“GPCR Therapeutics”) during August 2026 in settlement of a
The milestone payment was triggered by the completion of the Phase 2 clinical trial of Burixafor (GPC-100), including the formal submission of the Clinical Study Report to the U.S. Food and Drug Administration on January 16, 2026.
The shares are expected to be issued at a deemed value of
On July 31, 2026, the Company submitted a Listing of Additional Shares Notification to The Nasdaq Stock Market in connection with the equity issuance. The Company also completed and delivered the applicable treasury issuance instructions to its transfer agent, Equiniti Trust Company, LLC.
The Company expects the issuance to be completed during August 2026, subject to the completion of customary Nasdaq and transfer agent review and processing procedures. Exicure intends to provide an additional update following completion of the issuance.
“Settling this milestone payment through the issuance of common stock will allow Exicure to preserve cash and maintain financial flexibility as we continue to pursue our operational and strategic priorities,” said Jung Soo Kim, Chief Executive Officer of Exicure.
About Exicure, Inc.
Exicure, Inc. (Nasdaq: XCUR) has historically been an early-stage biotechnology company focused on developing nucleic acid therapies targeting ribonucleic acid against validated targets. Following its restructuring and suspension of clinical and development activities, the Company is exploring strategic alternatives to maximize stockholder value. In January 2025, it acquired a clinical-stage biotechnology company developing therapeutics for hematologic diseases. The Company’s lead program is being evaluated for its ability to improve stem cell mobilization in multiple myeloma, sickle cell disease, and in support of cell and gene therapy.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable federal securities laws, including statements regarding the anticipated issuance of shares to GPCR Therapeutics, the expected timing and completion of the issuance, the settlement of the Company’s milestone payment obligation, and the Company’s strategic direction. Forward-looking statements are based on management’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. The Company undertakes no obligation to update any forward-looking statements except as required by applicable law.
Media Contact
Exicure, Inc.
pr@exicuretx.com
