Event-Driven Stocks

EXICURE, INC.

XCURNasdaq

Healthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕

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Signs● 4 warning● 2 severedetails ↓

Financials

SEC XBRL · annual
 FY25FY24FY23FY22FY21FY20
Revenue$0$500,000$0$28.8M−$483,000$9.2M
Operating income−$4.2M−$12.2M−$15.0M−$1.8M−$62.5M−$25.4M
Net income−$4.9M−$9.7M−$16.9M−$2.6M−$64.1M−$24.7M
Total assets$14.0M$15.1M$11.6M$23.3M$64.9M$100.4M
Total liabilities$10.1M$8.3M$8.5M$8.4M$53.6M$38.9M
Equity$3.9M$6.8M$3.0M$14.9M$11.2M$61.5M
EPS (diluted)$-0.79$-4.75$-10.55$-0.56$-21.70$-0.28
Shares out.6.3M8.7M8.4M122.8M88.0M87.2M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2025
Operating margin
—
Net margin
—
Return on equity
−126.0%
Return on assets
−35.2%
Return on capital (ROCE)
−41.7%
Liabilities / assets
72.0%
Debt / equity
2.58×
Book value / share
$0.62
Revenue growth (YoY)
−100.0%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2025
Altman Z″ (distress)
-48.69distress
Accruals / assets
25.7%high accruals
Piotroski F-Score
2/8weak

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
23
/ 100
Profitability 0Growth 0Catalyst 67Earnings quality 0Financial strength 50

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 2 severe● 4 warning● 0 good
  • Altman Z″ in the distress zone
  • Filed a late-filing notice (Form NT) — missed an SEC deadline
  • Revenue declined year-over-year
  • High leverage (liabilities > 70% of assets)
  • Negative operating cash flow
  • High accruals — earnings-quality risk

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

Risk flags

late SEC filings

A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
May 15, 202632,2902.4-38.4%
Apr 30, 202652,3802.5-9.9%
Apr 15, 202658,1704.9+0.9%
Mar 31, 202657,6561.9-1.9%
Mar 13, 202658,7903.9-18.2%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (2)