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Exicure raises $63.3M via capital offering to fund drug pipeline

Exicure Inc. raised gross proceeds of about $63.3 million from a public offering of its common stock.

The Skokie, Ill.-based pharmaceutical company sold 31,625,000 common shares, including 4,125,000 shares sold as part of the underwriters' option to purchase additional shares.

Exicure, which specializes in gene regulatory and immunotherapeutic drugs, plans to utilize the net proceeds from the offering to advance cancer therapy AST-008 through a phase 1b/2 clinical trial and to develop a potential drug based on spherical nucleic acids for a neurology condition. The rest of the proceeds will be used for general corporate purposes.

Guggenheim Securities was the sole book-running manager. H.C. Wainwright & Co. and Ladenburg Thalmann were the co-managers, and Chardan was the lead manager for the offering.