Early stage biotech firm Exicure Inc (NASDAQ:XCUR) was in the news yesterday but the news did not come as a boost for its stock, as it ended the day with a decline of as much as 6%.
Trading Data
On Monday, XCUR stock fell 6.20% to $.1151 with more than 12.90 million shares traded, compared to its average volume of 12.21 million shares. The stock moved within a range of $0.1105 – 0.1295 after opening trading at $0.1176.
Exicure, Inc. Reports First Quarter 2022 Financial Results and Corporate Progress
At this point, it may be a good idea for investors to consider taking a closer look at the announcement and then make their minds up about the stock. The company announced its financial results for the fiscal quarter that had ended on March 31, 2022 and it may be a good move to take a look at some of the key highlights.
At the end of the quarter, the company had a cash, cash equivalents and short term investments totalling $27.6 million. That reflected a significant drop from the cash position of $48.3 million at the end of the previous quarter on December 31, 2021.
However, the revenues for the period came in at $2.6 million and that reflected a year on year rise of as much as $1.6 million. The research and development expenditure for the quarter was $7.1 million and that was lower than the expenses of $10.3 million under the same overhead in the prior year period.
Key Quote
“Exicure is off to a promising start in 2022 as we have made progress with our preclinical SCN9A program for the treatment of pain with several potential therapeutic candidates identified and we are conducting initial in vivo animal studies to support candidate selection in 2023,” commented Matthias Schroff, Ph.D., Chief Executive Officer of Exicure.
Technical Data
XCUR stock is trading below the 20-Day and 50-Day Moving averages of $0.14 and $0.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.62.
