Exicure Inc

Exicure operates with a market capitalization of $20.27 million and a price-to-book ratio of 9.18, indicating a premium valuation relative to its book value. The company has no long-term debt and a debt-to-equity ratio of 0.0, suggesting a conservative capital structure. However, its liquidity position is weak, with a current ratio of 0.55 and only $366,000 in cash and equivalents, which is insufficient to cover its short-term liabilities.

The company's profitability is negative, with a net loss of $829,000 and an operating loss of $836,000 in the latest period. Return on equity is -37.56%, and return on assets is -7.74%, both significantly below the industry median for biotechnology firms. These metrics indicate that Exicure is not generating returns for shareholders or efficiently utilizing its assets.

Exicure's revenue is concentrated in a single business segment, as disclosed in its financial statements, with no geographic diversification provided in the available data. This lack of diversification increases exposure to market-specific risks and limits the company's ability to offset losses in one area with gains in another.

The company's growth trajectory is uncertain, with no revenue growth reported in the latest period. Analysts have recorded a revenue of $28.83 million, but this appears to be a one-time or non-recurring event, as the company's operating cash flow is negative at -$450,000. The absence of positive cash flow from operations raises concerns about the company's ability to sustain operations without external financing.

Exicure's risk profile is characterized by low liquidity and low dilution risk. The company has no immediate filing-based liquidity or dilution flags, and its capital structure is free of long-term debt. However, the company's negative net income and operating cash flow suggest a high reliance on external financing, which could increase dilution risk in the future.

Recent events include the disclosure of a net loss of $829,000 and a negative return on equity of -37.56%. The company has not issued any new shares in the latest period, and there are no indications of upcoming equity offerings or significant regulatory changes that could impact its operations.

Exicure's operating margin of -1.67% exceeds the biotechnology cohort median of -2.56%, indicating relatively better cost efficiency.

The company's net margin of -1.66% is above the cohort median of -2.38%, suggesting superior profitability relative to peers.

Exicure carries zero long-term debt as of 2023, eliminating interest obligations and reducing financial risk compared to leveraged peers.

Risk flags for dilution, liquidity, and credit are all rated low, indicating a stable financial profile with minimal immediate threats.

Exicure generated zero revenue in fiscal years 2021 and 2023, highlighting a complete lack of commercial product sales.

Cash conversion ratio of 0.54 places Exicure in the bottom quartile of its biotechnology cohort, reflecting weak cash management.

Revenue $0.00; Operating income −103,2% YoY.

• ▍Revenue $0.00
• ▍Operating income −103,2% YoY
• ▍Net income −336,8% YoY
• ▍Free cash flow −330,0% YoY

Revenue $0.00, −100,0% YoY; Operating income +475,6% YoY.

• ▍Revenue $0.00, −100,0% YoY
• ▍Operating income +475,6% YoY
• ▍Net income +463,1% YoY
• ▍Free cash flow +473,6% YoY

Revenue $0.00; Operating income -$7.2M.

• ▍Revenue $0.00
• ▍Operating income -$7.2M

Revenue $0.00; Operating income -$2.6M.

• ▍Revenue $0.00
• ▍Operating income -$2.6M

Revenue $0.00; Operating income -$1.2M.

• ▍Revenue $0.00
• ▍Operating income -$1.2M

Revenue $500.0k; Operating income -$836.0k.

• ▍Revenue $500.0k
• ▍Operating income -$836.0k
• ▍Net margin -165.8%

Revenue $0.00, −100,0% YoY; Operating income +67,1% YoY.

• ▍Revenue $0.00, −100,0% YoY
• ▍Operating income +67,1% YoY
• ▍Net income +49,0% YoY
• ▍Free cash flow +51,4% YoY

Revenue $0.00, −100,0% YoY; Operating income −719,0% YoY.

• ▍Revenue $0.00, −100,0% YoY
• ▍Operating income −719,0% YoY
• ▍Net income −555,1% YoY
• ▍Free cash flow −1 039,3% YoY

Revenue $28.8M, +6 068,1% YoY; Operating income +97,1% YoY.

• ▍Revenue $28.8M, +6 068,1% YoY
• ▍Operating income +97,1% YoY
• ▍Net income +96,0% YoY
• ▍Free cash flow +97,8% YoY
• ▍Net margin -9.0%

Revenue -$483.0k; Operating income -$62.5M.

• ▍Revenue -$483.0k
• ▍Operating income -$62.5M
• ▍Net margin 13271.6%