Exicure Announces Phase 2 Trial Results for Multiple Myeloma Treatment
Exicure announced results from its completed Phase 2 trial evaluating burixafor in combination with propranolol and granulocyte colony-stimulating factor for the mobilization of hematopoietic progenitor cells in patients with multiple myeloma undergoing autologous hematopoietic cell transplantation. The data, which showed that approximately 90% of study participants achieved the primary endpoint, were presented in an oral session at the 67th American Society of Hematology annual meeting in Orlando, Florida. Burixafor is an investigational small molecule that blocks CXCL12 binding to CXCR4 receptors on HPCs, rapidly mobilizing these cells from the bone marrow into the peripheral blood. In preclinical studies, propranolol enhanced burixafor-induced mobilization by inhibiting the ss2-adrenergic receptor. In the open-label, multicenter Phase 2 trial, 17 of 19 participants achieved the primary endpoint. Two required another session to achieve 2x106 CD34+ cells/kg. Among participants who proceeded to transplant, the median time to neutrophil engraftment was 13 days, and the median time to platelet engraftment was 17.5 days. Burixafor has a differentiated and rapid mobilization kinetics, with peak peripheral levels of CD34+ cells observed within one hour of administration. This distinguishes it from other CXCR4 inhibitors and allows for same day burixafor administration and apheresis. Notably, 16 of 19 participants had prior exposure to daratumumab, a therapy associated with reduced mobilization, yet 14 of those 16 participants achieved the primary endpoint, including 12 of 14 participants who had received both daratumumab and lenalidomide. Longer intervals between the last dose of daratumumab and leukapheresis were associated with higher CD34+ cell yields. Burixafor administered in combination with propranolol and G-CSF was well tolerated and demonstrated an excellent safety profile. There were no burixafor-related adverse events higher than Grade 2.
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- Delisting Notification: Exicure received a notification from Nasdaq on June 5, 2026, indicating a violation of Listing Rule 5550(b)(1) due to failing to maintain a minimum stockholders' equity of $2.5 million, thus facing delisting risk.
- Financial Disclosure: In its recent Form 10-Q filing, Exicure reported only $2.1 million in stockholders' equity, failing to meet Nasdaq's alternative listing standards, highlighting inadequate market values of listed securities and minimal net income from continuing operations.
- Management Response: The management team has implemented cost-reduction and restructuring initiatives, terminating non-essential consulting arrangements to address financial difficulties caused by executive separation-related expenses and obligations, aiming to improve the financial position.
- Compliance Plan Timeline: Nasdaq has granted Exicure up to 45 calendar days until July 20, 2026, to submit a durable plan for regaining compliance, and if accepted, the company may receive a 180-day extension to restore compliance, although there is currently no immediate impact on its common stock.
- Compliance Notification: Exicure received a notification from Nasdaq's Listing Qualifications Department on May 28, 2026, indicating non-compliance due to the delayed filing of its 10-Q report for the quarter ending March 31, 2026, primarily attributed to changes in financial reporting personnel and procedures.
- Expected Compliance Restoration: Following the notification, Exicure filed its 10-Q report with the SEC on May 29, 2026, and anticipates regaining compliance with Nasdaq rules, which could help restore investor confidence and stabilize its stock price.
- Stock Price Fluctuation: Over the past year, XCUR's stock has traded between $2.62 and $10.80, closing at $3.33, up 4.39% on the last trading day, indicating cautious optimism in the market regarding its future performance.
- Pre-Market Trading Performance: Despite the recent closing gain, XCUR is down 3.90% in pre-market trading at $3.20, suggesting that investor concerns over compliance issues may impact short-term stock performance.
- Non-Compliance Notice: Exicure received a Nasdaq non-compliance notice on May 28, 2026, due to its failure to timely file its Q1 2026 report, which could impact the company's credibility in the capital markets and investor confidence.
- Reason for Delay: The filing delay was primarily caused by changes in financial reporting personnel and related filing procedures, indicating instability in the company's internal management and processes, which may lead to reduced financial transparency in the future.
- Historical Financial Data: Historical earnings data for Exicure shows fluctuations in past reports, and the failure to submit timely filings may raise investor concerns about its financial health, potentially affecting stock performance.
- Potential Consequences: If Exicure fails to resolve compliance issues within the stipulated time, it may face further regulatory actions, which could jeopardize its listing status on Nasdaq, posing challenges for future financing and operations.
- Co-Development Agreement: Exicure has signed a co-development agreement with Korean biotech firm Adbiotech to utilize Burixafor for combination therapies targeting hematological diseases, marking a strategic expansion in the biopharmaceutical sector.
- Drug Development Background: Burixafor (GPC-100) is an investigational drug that has successfully completed a Phase 2 clinical trial for multiple myeloma and is currently being explored for various hematological indications, indicating its broad clinical potential.
- Defined Research Focus: Under the agreement, Adbiotech will conduct in vitro studies for preclinical validation, while Exicure will lead the clinical and regulatory strategy, ensuring a smooth development process for the drug.
- IND Submission Goal: The two companies are collaborating to advance research on Burixafor with the aim of submitting an investigational new drug (IND) application, further propelling the drug's path to market.
- Co-Development Agreement: Exicure has entered into a co-development agreement with Korea's Adbiotech to explore combination therapies based on Burixafor (GPC-100) across multiple therapeutic areas, marking a strategic expansion in the biotechnology sector.
- Clinical Trial Foundation: Burixafor successfully completed a Phase 2 clinical trial in multiple myeloma last year, establishing a foundation for further evaluation in hematologic indications such as acute myeloid leukemia and sickle cell disease, indicating its potential applicability in treatment.
- Research and Development Support: Under the agreement, Adbiotech will conduct in vivo studies and support preclinical validation, while Exicure will provide Burixafor and lead clinical and regulatory strategy, ensuring the smooth progression of the research.
- Future Development Plans: The parties intend to conduct in vivo validation studies and may advance selected programs into IND-enabling studies and clinical trials based on further agreements, demonstrating a strong commitment to future clinical development.
- Co-Development Agreement: Exicure has entered into a co-development agreement with Korea-based Adbiotech to explore combination therapies based on Burixafor (GPC-100) across multiple therapeutic areas, indicating a strategic expansion into various indications.
- Clinical Trial Foundation: Burixafor successfully completed a Phase 2 clinical trial in multiple myeloma last year, providing a solid foundation for further evaluation in hematologic indications such as acute myeloid leukemia and sickle cell disease, potentially supporting future clinical development.
- Research and Funding Support: Under the agreement, Adbiotech will conduct in vivo studies and support preclinical validation, while Exicure will provide Burixafor and lead clinical and regulatory strategy, with plans to secure funding for future clinical development.
- Future Development Plans: The parties intend to conduct in vivo validation studies and may advance selected programs into IND-enabling studies and clinical trials, reflecting a strong commitment to exploring Burixafor's potential in combination therapies.











