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Exicure, Inc. Announces Results of Internal Investigation and Implementation of Strategic Measures to Reduce Cash Burn and Prioritize Pipeline Focus

– Exicure will reduce its workforce by approximately 50%, along with the implementation of other cost-cutting measures –

– Company to wind down immuno-oncology program cavrotolimod (AST-008) and XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia –

– Company will align its R&D resources to support the development of its preclinical programs targeting SCN9A for pain as well as its partnered programs –

– Brian C. Bock appointed President and Chief Executive Officer –

CHICAGO & CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Exicure, Inc.® (NASDAQ: XCUR) announced the results of its previously disclosed independent internal investigation and a number of strategic actions aimed to reduce cash spend and prioritize the Company’s therapeutic pipeline.

The Audit Committee of the Board of Directors of the Company (the “Audit Committee”) today announced the findings of the internal investigation initiated and overseen by the Audit Committee and conducted by outside counsel in connection with alleged improprieties that Grant Corbett, Ph.D., the Company’s former Group Lead of Neuroscience, claimed to have committed with respect to the Company’s XCUR-FXN preclinical program.

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