(RTTNews) - Exicure Inc. (XCUR), an early-stage biotechnology company, on Wednesday reported the receipt of a notification letter from the Listing Qualifications department of The Nasdaq Stock Market LLC on June 5, 2026, stating that the company was in violation of Listing Rule 5550(b)(1), indicating a failure to maintain a minimum stockholders' equity of $2.5 million.
Exicure recently filed its first quarterly results via a Form 10-Q, indicating the availability of $2.1 million in stockholders' equity. The company also did not meet the alternative listing standards of Nasdaq, with inadequate market values of listed securities and minimal net income recorded from continuing operations.
The company stated that its present financial position was caused by executive separation-related expenses and obligations under certain long-term consulting arrangements. The current management team has reportedly addressed this by implementing cost-reduction and restructuring initiatives and terminating non-essential consulting arrangements.
According to Nasdaq, Exicure has up to 45 calendar days till July 20, 2026, to provide a durable plan to regain compliance with the listing rules. If accepted, Nasdaq may grant the company a 180 calendar-day extension from the date of notice to regain compliance.
The company reassured investors that there would be no immediate impact on its shares of common stock listed on The Nasdaq Capital Market.
XCUR closed Wednesday at $2.76, down 3.16%.
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