--- title: "Exicure files NT 10-Q late-filing notice, needs more time on March 31" url: "https://aibio.space/news/exicure-files-nt-10-q-late-filing-notice-needs-more-time-march-31-2025/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-05-15" section: "Distress" tickers: "NASDAQ:XCUR" source: "https://www.sec.gov/Archives/edgar/data/1698530/000169853025000040/xcur-nt10xqx51525.htm" summary: "Exicure told the SEC on May 15, 2025 that it cannot file its quarterly report for the period ended March 31, 2025 on time, because it has not finished the" --- By the aibio.space news desk. Sources - [EXICURE, INC. Form NT 10-Q filed May 15, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1698530/000169853025000040/xcur-nt10xqx51525.htm) - [EXICURE, INC. Form 10-K filed March 18, 2025: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1698530/000169853025000019/xcur-20241231.htm) [XCUR](https://aibio.space/companies/exicure/) 2025-05-15 # Exicure files NT 10-Q late-filing notice, needs more time on March 31, 2025 quarterly report Tickers [XCUR](https://aibio.space/companies/exicure/) Exicure told the SEC on May 15, 2025 that it cannot file its quarterly report for the period ended March 31, 2025 on time, because it has not finished the accounting for its acquisition of GPCR Therapeutics USA, Inc. The company expects to file within the five-day extension that Rule 12b-25 allows, and it says the acquisition will make the quarter's results hard to compare with last year. ## Key facts - **Company**: Exicure, Inc. (NASDAQ: XCUR) - **News type**: Distress - **Primary source**: [EXICURE, INC. Form NT 10-Q filed May 15, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1698530/000169853025000040/xcur-nt10xqx51525.htm) *A supreme court building with lit columns. CC0, via rawpixel. The picture shows the field, not the companies named.* Exicure, Inc. (Nasdaq: [XCUR](https://aibio.space/companies/exicure/)) told the Securities and Exchange Commission on May 15, 2025 that it cannot file its Form 10-Q for the quarter ended March 31, 2025 by the prescribed due date, also May 15. In a [Form 12b-25 notification of late filing](https://www.sec.gov/Archives/edgar/data/1698530/000169853025000040/xcur-nt10xqx51525.htm), known as an NT 10-Q, the company said it needs more time to finalize the financial statements that the report must include. It anticipates filing within the five-day grace period provided by Exchange Act Rule 12b-25. ## Why the report is late The notice says Exicure must complete technical accounting matters on the purchase price allocation for its acquisition of GPCR Therapeutics USA, Inc. The acquisition closed on January 19, 2025, and the company reported the closing on a Form 8-K filed January 22, 2025. The notice does not say which items remain open, or how long the work will take. ## The extension Exicure checked box (a) on the form, which says the reason could not be eliminated without unreasonable effort or expense. The notice does not name a specific new filing date. ## Other answers on the form The notice answers yes when asked whether all other periodic reports required over the preceding 12 months have been filed. It also answers yes when asked whether a significant change in results of operations from the same period a year earlier is expected in the report. The explanation for that change is the acquisition. The notice says the financial statements for the quarter include the operations of GPCR Therapeutics USA, Inc. from January 19, 2025, the closing date, and so are not directly comparable with the prior-year quarter. The notice gives no revenue, loss or other figures for the change. ## Who signed Andy Yoo, chief executive officer, signed the notice on May 15, 2025. The form names Joshua Miller as the person to contact about the notification. ## The company behind the filing Exicure describes itself as historically an early-stage biotechnology company that developed nucleic acid therapies against validated targets. In its annual report it says that in September 2022 it announced a significant reduction in force, suspended preclinical activities and halted all research and development while it explored strategic alternatives. In February 2024 it received an upfront payment of $500,000 from a licence of patents tied to one of its historical drug candidates. The annual report adds that the company does not expect its historical assets to generate significant value for stockholders. The annual report also records a change of control. Effective November 12, 2024, Exicure agreed to sell HiTron Systems Inc. 433,333 shares of common stock for an aggregate $1.3 million, at $3.00 a share. On November 13, 2024 it agreed to sell HiTron 2,900,000 more shares for an aggregate $8.7 million, again at $3.00 a share, and that sale closed on December 24, 2024. The company says that as of March 12, 2025, HiTron beneficially owned 53% of the outstanding common stock, based on information available to the company. The annual report says Exicure obtained significant financing late in 2024 to continue operations and to pursue strategic alternatives. The same filing lists risks that matter for a company filing late: substantial doubt about its ability to continue as a going concern, no current source of revenue, and the need to keep its Nasdaq Capital Market listing, including minimum stockholders' equity and stock price. ## What the notice does not say The notice gives no cash balance, no net loss and no revenue for the quarter. It does not say when the purchase price allocation work began, whether the auditors have raised issues, or whether there is any other reason for the delay. The quarter ended March 31, 2025, and the company's own estimate is that it will file within five calendar days after the due date. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story XCUR Exicure, Inc. NASDAQ ยท United States Open the starter desk ## More in Distress Distress ### [Mineralys takes ownership of lorundrostat patents but keeps Tanabe milestone debts](https://aibio.space/news/mineralys-takes-ownership-lorundrostat-patents-but-keeps-tanabe/) Oct 29, 2026 Distress ### [Bristol Myers Squibb drops Prothena's PRX019, ending up to $617.5 million in milestones](https://aibio.space/news/bristol-myers-squibb-drops-prothenas-prx019-ending-up-617-5-million/) Oct 29, 2026 Distress ### [LENZ Therapeutics reorganizes to cut 2027 operating expenses by more than 50%](https://aibio.space/news/lenz-therapeutics-reorganizes-cut-2027-operating-expenses-more-50/) Oct 28, 2026 --- Source page: https://aibio.space/news/exicure-files-nt-10-q-late-filing-notice-needs-more-time-march-31-2025/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Exicure files NT 10-Q late-filing notice, needs more time on March 31", 2025-05-15, https://aibio.space/news/exicure-files-nt-10-q-late-filing-notice-needs-more-time-march-31-2025/