Gene therapy is a competitive field, and one U.S. outfit put its best foot forward Thursday.
Exicure, Inc. (NASDAQ:XCUR), a pioneer in gene regulatory and immunotherapeutic drugs utilizing spherical nucleic acid (SNA™) technology, today reported financial results for the third quarter ended September 30, 2019 and provided an update on corporate progress.
By the end of the quarter, the Chicago-based company, with officers in Cambridge, Mass., had cash and cash equivalents were $70.4 million as of September 30, 2019 compared to $26.3 million as of December 31, 2018.
General and administrative expenses were $2.2 million for the quarter, compared to $1.9 million for the quarter ended September 30, 2018. As a result, Net loss was $5.8 million for the quarter ended September 30, 2019, compared to net loss of $5.3 million for the quarter ended September 30, 2018.
Among the brightest of most recent developments, the company had, as of November 1, dosed 13 patients in the first four cohorts of the Phase 1b stage of the clinical trial, with no treatment-related adverse events or dose-limiting toxicity observed
XCUR expects to disclose preliminary results from the Phase 1b in December.
Volume may have been a tad on the slow side late in the session on Thursday, less than 15,000 shares, but the price change was something to scream about, as XCUR jumped 16 cents, or 6.6%, to $2.58.