Exicure (XCUR) risk factors, FY2024 10-K

Risks Related to Our Business

1. 01Our exploration of strategic alternatives may not be successful
2. 02We need to obtain substantial funding in order to continue operations and our exploration of strategic alternatives
3. 03We may not be able to redeem the investment in convertible notes receivable
4. 04Our controlling stockholders, executive officers and members of our board, have limited experience controlling or governing a public company operating in the United States status
5. 05Turnover of our board and senior management, and any inability to attract and retain qualified management and other key personnel, could impair our ability to implement our business plan
6. 06Our consolidated financial statements have been prepared assuming that we will continue as a going concern
7. 07Our common stock may be delisted from Nasdaq which could negatively impact the price of our common stock, liquidity and our ability to access the capital markets
8. 08Even though we regained compliance with Nasdaq’s listing requirements, there can be no assurance that we will remain in compliance with Nasdaq’s requirements and will not be delisted in the future
9. 09We have a history of losses. We expect to continue to incur significant losses for the foreseeable future and may never achieve or maintain profitability, which could result in a decline in the market value of our common stock
10. 10Our internal computer systems, or those of contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our therapeutic development programs
11. 11Our information technology systems could face serious disruptions that could adversely affect our business
12. 12Our business and operations could suffer in the event of system failures or unauthorized or inappropriate use of or access to our information technology systems
13. 13Our current operations are concentrated in one location and any events affecting this location may have material adverse consequences
14. 14If we fail to maintain proper and effective internal controls, our ability to produce accurate financial statements on a timely basis could be impaired
15. 15Our limited resources and recent reductions in force, as well as the turnover in our board of directors and the potential for future management changes, present significant continuity risk and could impact our ability to maintain effective internal control over financial reporting

Risks Related to Government Regulation

1. 16We are subject to European data protection laws, including the European Union’s General Data Protection Regulation 2016/679, (“GDPR”). If we fail to comply with existing or future data protection regulations, our business, financial condition, results of operations and prospects may be materially adversely affected

Risks Related to Ownership of Our Common Stock

1. 17The influence of our significant stockholders could make our Common Stock less attractive to some investors or otherwise harm the trading price of our Common Stock
2. 18The market price of our common stock has been, and is likely to continue to be, highly volatile, and you may not be able to resell your shares at or above the price you paid for them
3. 19Raising additional funds by issuing securities may cause dilution to existing stockholders and raising funds through lending and licensing arrangements may restrict our operations or require us to relinquish proprietary rights
4. 20We cannot be certain if the reduced reporting requirements applicable to us will make our common stock less attractive to investors
5. 21Anti-takeover provisions in our charter documents and under the General Corporation Law of the State of Delaware could make an acquisition of us more difficult and may prevent attempts by our stockholders to replace or remove our management
6. 22Our amended and restated certificate of incorporation also provides that any person purchasing or otherwise acquiring any interest in any shares of our common stock shall be deemed to have notice of and to have consented to this provision of our amended and restated certificate of incorporation
7. 23Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited
8. 24FINRA sales practice requirements may limit a stockholder’s ability to buy and sell our stock due to our low stock price
9. 25If securities or industry analysts do not publish research or reports about our business, or if they issue an adverse or misleading opinion regarding our stock, our stock price and trading volume could decline