Exicure, Inc. (XCUR)

Nasdaq: XCUR · Pharmaceutical Preparations · Chicago, IL · filing with the SEC since 2017

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Grade2.6

◀ Past 1.6● Present 2.1▶ Future 3.6

4 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Exicure, Inc.

Nine metrics read from its own filings, by tense

Headline grade

2.6/10

◀ Past1.625% of the headline

● Present2.135% of the headline

▶ Future3.640% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 5 read as filed from the record and 4 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

1.6/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

0.1/10

Has it survived what it has been through?

31 warning events since 2017; the latest 2026-09-16.

weight 22% of this tense · 2nd percentile among 497 sector filers · read for itself

From the record

Exicure, Inc.'s filings since 2017 show 31 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, 19 times, the latest 2026-09-16); a warning not to rely on past financial statements (8-K item 4.02, the latest 2023-12-01); an auditor change (8-K item 4.01, 4 times, the latest 2025-04-14); a late-report notice (Form NT 10-K or NT 10-Q, 7 times, the latest 2026-05-15) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

1.8/10

What has it actually done, year after year?

10 filed years; profitable in 0 of 10.

weight 45% of this tense · 18th percentile among 323 sector filers · read for its customers

From the record

Exicure, Inc.'s 10 filed years say what it did: it rose in 3 of 7 years; the deepest fall was 103% from fiscal 2020 to fiscal 2021; net income was positive in 0 of 10 of those years (its annual reports).

What it rests on

the share of years revenue rosebottom 26% of its family
the share of filed years with a profitbottom 27% of its family
the deepest fall from a revenue peak102.9%bottom 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

2.2/10

How has it treated the people who own it?

SI estimate 2.2/10, confidence 35 of 100 (one part).

weight 33% of this tense · 22nd percentile among 464 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 22% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 464 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Exicure, Inc.'s shareholder treatment is put at 2.2 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 22% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.1/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

2.1/10

Is it financially healthy right now?

ROE -126%: lost 126¢ per shareholder dollar. Leverage 72%: owes 72¢ per asset dollar.

weight 45% of this tense · 21st percentile among 473 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Exicure, Inc. lost about 126 cents for every dollar of shareholders' money. Leverage: it owed about 72 cents per dollar of assets, and net share issuance: its share count grew 208.2% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 20% of its family
return on equitybottom 26% of its family
the share count against the year beforebottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

SI estimate

5.2/10

How strong is its position in its industry?

SI estimate 5.2/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 315 sector filers · read for its customers

SI estimate Inferred, not read as filed

Why it is an estimate: No filed revenue on file, so the desk assumes the typical reading of its industry family, the median of 315 members with one.
What the record cannot read: No filed revenue on file.
How it was reasoned: family median, 315 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Exicure, Inc.'s industry position is put at 5.2 of 10 with a confidence of 20 of 100, because no filed revenue on file, so the desk assumes the typical reading of its industry family, the median of 315 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

Leadership

as filed

0.1/10

What are the people in charge doing?

bottom 1% of 315 in its family for leadership.

weight 33% of this tense · 1st percentile among 315 sector filers · read for its shareholders

From the record

Exicure, Inc.'s leadership, from its insiders' filings and its current reports: no one files under a chief executive's title, so that part is not read; the 3 officers and directors filing in the last fifteen months have been on the record a median of 1.1 years (bottom 3%); 12 officer or director changes were reported on Form 8-K since 2023-11-13, against the 3 people in charge now (bottom 1%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

officer and director changes on Form 8-K, against the people in charge12 in three years among 3 peoplebottom 1% of its family
the median years the people in charge have filed1.1 yearsbottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

3.6/1040% of the headline grade · 1 of 3 filed, 2 estimated

Room to expand

SI estimate

4.9/10

How much room does it have to grow?

SI estimate 4.9/10, confidence 35 of 100 (one part).

weight 33% of this tense · 49th percentile among 479 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, cash less debt against assets, which ranks in the bottom 49% of 479 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
What the record cannot read: The record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
How it was reasoned: one part: cash less debt against assets, the one part on file, ranked among 479 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Exicure, Inc.'s room to expand is put at 4.9 of 10 with a confidence of 35 of 100, because read from one part only, cash less debt against assets, which ranks in the bottom 49% of 479 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue. A filing that carries the missing parts replaces this estimate with the filed reading.

Growth drivers

as filed

1.1/10

What could actually drive growth from here?

bottom 11% of 306 in its family for growth drivers.

weight 45% of this tense · 11th percentile among 306 sector filers · read for its customers

From the record

Exicure, Inc.'s growth drivers, from the filed years to fiscal 2025: research spending grew -45% a year (bottom 5%); capital spending grew -53.6% a year (bottom 17%) (its annual reports). Exicure, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth of research spending-45.0%bottom 5% of its family
three-year growth of capital spending-53.6%bottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate

6.8/10

Did its newest year beat what its own record pointed to?

SI estimate 6.8/10, confidence 35 of 100 (one part).

weight 22% of this tense · 68th percentile among 284 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, net income against the prior three years' average, which ranks in the top 32% of 284 in its family; the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
What the record cannot read: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned: one part: net income against the prior three years' average, the one part on file, ranked among 284 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Exicure, Inc.'s expectations vs reality is put at 6.8 of 10 with a confidence of 35 of 100, because read from one part only, net income against the prior three years' average, which ranks in the top 32% of 284 in its family; the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change. A filing that carries the missing parts replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton XCUR · research, not advice