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Exicure, Inc. Reports Second Quarter 2020 Financial Results and Corporate Progress
CHICAGO & CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Exicure, Inc. (NASDAQ: XCUR), the pioneer in gene regulatory and immunotherapeutic drugs utilizing spherical
About this update from Exicure, Inc.
[{"type":"text","content":" CHICAGO & CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nExicure, Inc. (NASDAQ: XCUR), the pioneer in gene regulatory and immunotherapeutic drugs utilizing spherical nucleic acid (SNA™) technology, today reported financial results for the quarter and six months ended June 30, 2020 and provided an update on corporate progress.\n\n\n“The second quarter was marked by important new expansion,” said Dr. David Giljohann Exicure’s Chief Executive Officer. “We grew our organization with the addition of neurology expert, Dr. Douglas Feltner, as Chief Medical Officer, expanded our clinical team and opened additional clinical sites in support of our Phase 2 clinical trial in cancer patients using our drug candidate, cavrotolimod. In July, we moved into our new 30,000 sq. ft. laboratory and corporate headquarters where our R&D team continues to advance our growing neurology therapeutic area,” concluded Dr. Giljohann.\n\n\nXCUR-FXN, Exicure’s Friedreich’s ataxia therapeutic candidate\n\n\n\nDespite the ongoing COVID-19 pandemic, our laboratories have continued operations with limited impact on our research and development activities.\n\n\nWe remain on track to initiate IND-enabling studies for Friedreich’s ataxia in the fourth quarter of this year.\n\n\n\nCavrotolimod (AST-008) Phase 1b/2 clinical trial is open and actively enrolling patients \n\n\n\nIn the second quarter of 2020, we began enrolling patients in the Phase 2 dose expansion phase of the clinical trial of intra-tumoral cavrotolimod in combination with approved checkpoint inhibitors pembrolizumab or cemiplimab, to treat patients with advanced or metastatic Merkel cell carcinoma or cutaneous squamous cell carcinoma.\n\n\nCurrently, 14 clinical trial sites are open, and we expect to open up to 11 additional sites for a potential total of 25 sites.\n\n\nWe are continuing to monitor the impact that COVID-19 may have on the trial’s patient enrollment and safety, site initiation, and study integrity. We have put in place and continue to maintain a variety of measures to mitigate the effects of COVID-19 and our top priority is to maintain patient safety and trial continuity.\n\n\n\nSecond Quarter Financial Results, Financial Guidance and Recent Developments\n\n\nCash Position: Cash, cash equivalents, and short-term investments were $85.8 million as of June 30, 2020 as compared to $98.8 million a...