Exicure Inc (NASDAQ:XCUR) Stock Hits Another Low: Fell 60% Last Week
The previous week as a forgettable one for shareholders in Exicure Inc (NASDAQ:XCUR). The stock was in the middle of a meltdown and ended the week with a drop of as much as 30% this past Friday.
Market Stats
On Friday, XCUR stock plunged 30% at $0.46 with more than 3.33 million shares, compared to its average volume of 394k shares. The stock has moved within a range of $0.4550 – 0.6140 after opening trading at $0.6140.
Major News
That took the losses recorded by the stock for the whole week to as much as 60%. In this context, it might be a good idea for investor to take a look at some of the key developments from last week. Last Monday, the company had announced that it submitted Form 12b-25 filing to the United States Securities and Exchange Commission. The filing was in relation to the company’s third quarter fiscal results on Form 10-Q for the period that had ended on September 30, 2021.
In the filing, the company noted that it was unable to submit its financial results on Form 10-Q for the third quarter to the agency. Exicure noted that if it was to submit the filing on time then it would require a lot of effort and unreasonable expenses. At this point, the company is conducting an internal investigation with regards to the claims made by a senior researcher about improprieties that he had committed during his time at Exicure. That seems to be the reason behind the current delays.
Traders Corner
XCUR stock is trading below the 20-Day and 50-Day Moving averages of $0.97 and $1.16 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.62 The stock is down 61% in the past month.
