Exicure, Inc. – XCUR
KEHOE LAW FIRM, P.C. IS INVESTIGATING WHETHER EXICURE, INC. (“EXICURE” OR THE “COMPANY”) (NASDAQ: XCUR) VIOLATED FEDERAL SECURITIES LAWS.
On December 13, 2021, a class action lawsuit was filed against Exicure in United States District Court, Northern District of Illinois, on behalf of persons and entities that purchased, or otherwise acquired, Exicure securities between March 11, 2021 and November 15, 2021, both dates inclusive (the “Class Period”).
TO DISCUSS JOINING THE CLASS ACTION, PLEASE CLICK JOIN THE SECURITIES CLASS ACTION OR KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE.
According to the class action complaint throughout the Class Period, the Exicure Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Exicure Defendants failed to disclose to investors (1) that there had been certain improprieties in Exicure’s preclinical program for the treatment of Friedreich’s ataxia; (2) that, as a result, there was a material risk that data from the preclinical program would not support continued clinical development; and (3) as a result of the foregoing, the Exicure Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
TO VIEW A COPY OF THE CLASS ACTION COMPLAINT, PLEASE CLICK EXICURE COMPLAINT.
On November 15, 2021, Exicure filed a Form 12b-25 with the SEC which stated that the Company “. . . is unable to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (the “Q3 2021 10-Q”) with the Securities and Exchange Commission . . . within the prescribed time period without unreasonable effort or expense.”
Exicure stated that “[o]n November 9, 2021, the Audit Committee of the Board of Directors of the Company was notified of a claim made by a former Company senior researcher regarding alleged improprieties that researcher claims to have committed with respect to the Company’s XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia. The Audit Committee has retained external counsel to conduct an internal investigation of the claim. The Company is currently unable to predict the timing or outcome of the investigation. Despite working diligently in an effort to timely file its Q3 2021 10-Q, the Company requires additional time to complete certain disclosures and procedures, including disclosures relating to the internal investigation.”
On this news, the price of Exicure’s stock dropped significantly, thereby injuring investors.
During intraday trading on December 13, 2021, Exicure’s stock price was down almost 35%.
Investors who purchased, or otherwise acquired, Exicure securities during the Class Period and suffered financial losses are encouraged to contact either John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss the Exicure securities class investigation or potential legal claims.