Exicure, Inc. Announces Adjournment of Annual Meeting of Stockholders
May 27 2022 - 4:01PM
Business Wire
Exicure, Inc. (NASDAQ: XCUR), an early-stage biotechnology
company focused on the development of next generation nucleic acid
therapies targeting RNA to address both genetic and non-genetic
neurological disorders and hair loss disorders, today announced
that the Company’s Annual Meeting of Stockholders (the “Annual
Meeting”) held in virtual format on Friday, May 27, 2022 at 1:00
p.m. Central Time, was convened and adjourned until June 10, 2022
at 1:00 p.m. Central Time without any business being conducted. The
Company adjourned the Annual Meeting for the purpose of allowing
additional time for stockholders to vote on Proposal 3, described
below and as set forth in the Company’s proxy statement for the
Annual Meeting, filed with the Securities and Exchange Commission
on April 12, 2022 (the “Proxy Statement”). The business scheduled
for the re-convened meeting remains the same as set forth in the
Proxy Statement.
At the re-convened meeting, stockholders of the Company will
consider and vote to (i) elect the two (2) nominees for director
named in the Proxy Statement to hold office until the 2025 Annual
Meeting of Stockholders or until their successors are duly elected
and qualified (Proposal 1); (ii) ratify the selection by the Audit
Committee of the Board of Directors of KPMG LLP as the Company’s
independent registered public accounting firm for the fiscal year
ending December 31, 2022 (Proposal 2); (iii) approve an amendment
to the Company’s Amended and Restated Certificate of Incorporation
to effect a reverse stock split of the Company’s common stock at a
ratio in the range of 1-for-10 to 1-for-30, with such ratio to be
determined in the discretion of the Board of Directors (Proposal
3); and (iv) conduct any other business properly brought before the
Annual Meeting or any adjournments or postponements thereof.
If you have already voted your shares, you do not need to
vote again and we thank you for your support. If you have voted
against Proposal 3 or abstained, we urge you to reconsider your
vote, and vote in favor of Proposal 3. The Board of Directors
believes the proposed reverse stock split is in the best interests
of the Company’s stockholders as it enables the Company to
reestablish compliance with Nasdaq’s minimum bid price requirement,
however there is no guarantee that it will maintain such
compliance.
All stockholders of record as of April 7, 2022, who have not
already done so are encouraged to vote on the proposals.
Stockholders who have already voted need not take any further
action.
The re-convened meeting will be held in a virtual format only
via the Internet at www.virtualshareholdermeeting.com/XCUR2022.
About Exicure
Exicure, Inc. is an early-stage biotechnology company developing
nucleic acid therapies targeting ribonucleic acid against validated
targets to neurological disorders and hair loss. The team includes
a diverse scientific group with expertise in nucleic acid
chemistry, drug development and neuroscience. Headquartered in
Chicago, Illinois, the Company conducts its discovery and
development efforts in-house with a dedicated 30,000 square foot
facility, including rapid and automated high throughput nucleic
acid synthesis and screening. For further information, see
www.exicuretx.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements in this press release other than statements of
historical fact may be deemed forward looking including, but not
limited to: statements regarding the Company’s re-convened annual
meeting; and the ability of the proposed reverse stock split to
enable the Company to reestablish compliance with Nasdaq’s minimum
bid price requirement. Words such as “plans,” “expects,” “will,”
“anticipates,” “advance,” “believes,” “may,” “intend,” “could,”
“should,” and other words and terms of similar meaning and
expression are intended to identify forward-looking statements,
although not all forward-looking statements contain such terms.
Forward-looking statements are based on management’s current
beliefs and assumptions that are subject to risks and uncertainties
and are not guarantees of future performance. Actual results could
differ materially from those contained in any forward-looking
statement as a result of various factors, including, without
limitation: market and other conditions; the Company’s ability to
adequately finance its business and seek alternative sources of
financing the risks that the ongoing COVID-19 pandemic may disrupt
the Company’s business and/or the global healthcare system
(including its supply chain) more severely than it has to date or
more severely than anticipated; unexpected costs, charges or
expenses that reduce the Company’s capital resources; the unproven
approach of the Company’s SNA platform; the Company’s preclinical
programs do not advance into clinical or result in approved
products on a timely or cost effective basis or at all; the results
of early clinical trials are not always being predictive of future
results; the cost, timing and results of clinical trials; that many
drug candidates do not become approved drugs on a timely or cost
effective basis or at all; the ability to enroll patients in
clinical trials; possible safety and efficacy concerns; regulatory
developments; the ability of the Company to obtain or maintain its
existing or future collaborations, licenses or contractual
relationships and/or collaborate successfully with strategic
partners; regulatory developments; exposure to litigation,
including patent litigation, and/or regulatory actions; the ability
of the Company to protect its intellectual property rights; and the
impact of the completion of the Company’s previously reported
internal investigation on the Company’s business and diversion of
management time and attention on related issues, including any
related investigations or proceedings, shareholder lawsuits,
reputational harm, or the possibility that executives or other
employees may resign. Given these risks and uncertainties, you are
cautioned not to place undue reliance on such forward-looking
statements. For a discussion of other risks and uncertainties, and
other important factors, any of which could cause the Company’s
actual results to differ from those contained in the
forward-looking statements, see the section titled “Risk Factors”
in the Company’s Quarterly Report on Form 10-Q for the quarter
ended March 31, 2022 filed with the Securities and Exchange
Commission on May 16, 2022, as updated by the Company’s subsequent
filings with the Securities and Exchange Commission. All
information in this press release is as of the date of the release,
and the Company undertakes no duty to update this information or to
publicly announce the results of any revisions to any of such
statements to reflect future events or developments, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220527005341/en/
Media: Karen Sharma MacDougall 781-235-3060
ksharma@macdougall.bio
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