Exicure, Inc. (XCUR) Failed to Disclose Improprieties Associated with its Preclinical Program for the Treatment of Friedreich’s Ataxia
A class action was filed on behalf of all persons and entities that purchased or otherwise acquired Exicure, Inc. (NASDAQ: XCUR) securities between March 11, 2021 and November 15, 2021, for violations of the Securities Exchange Act of 1934. Exicure is a clinical stage biotechnology company that develops therapeutics for neurology, immune-oncology, inflammatory diseases, and other genetic disorders based on its proprietary spherical nucleic acid technology.
According to the complaint, defendants failed to disclose that there had been certain improprieties in Exicure’s preclinical program for the treatment of Friedreich’s ataxia and that there was a material risk that data from the preclinical program would not support continued clinical development.
On November 15, 2021, Exicure filed a Form 12b-25 with the SEC stating that it could not timely file its quarterly report ended September 30, 2021. It explained it was investigating “a claim made by a former Company senior researcher regarding alleged improprieties that researcher claims to have committed with respect to the Company’s XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia.” On this news, the Company’s stock price fell 28%, to close at $1.07 per share on November 16, 2021. The stock trades even lower today.
If you acquired shares of Exicure, Inc. (XCUR) securities between March 11, 2021 and November 15, 2021, you have until February 11, 2022, to ask the court to appoint you lead plaintiff for the class. Submit a form for more information.
Representation is on a contingency fee basis. Shareholders pay no fees or costs.