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Exicure

DB:2H0
Snowflake Description

Excellent balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2H0
DB
$159M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Exicure, Inc., a clinical-stage biotechnology company, develops gene regulatory and immuno-oncology therapeutics based on spherical nucleic acid (SNA) technology. The last earnings update was 30 days ago. More info.


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  • Exicure has significant price volatility in the past 3 months.
2H0 Share Price and Events
7 Day Returns
23.4%
DB:2H0
5.2%
DE Biotechs
4.3%
DE Market
1 Year Returns
-
DB:2H0
-7.4%
DE Biotechs
-14.2%
DE Market
2H0 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Exicure (2H0) 23.4% -5.6% -32.9% - - -
DE Biotechs 5.2% -3.3% -20.3% -7.4% 19.5% -9.4%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • No trading data on 2H0.
  • No trading data on 2H0.
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Exicure undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Exicure to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Exicure.

DB:2H0 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:2H0
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.048 (1 + (1- 21%) (3.33%))
1.051
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.051 * 5.44%)
5.33%

Discounted Cash Flow Calculation for DB:2H0 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Exicure is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:2H0 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.33%)
2020 1.68 Est @ 56.38% 1.59
2021 2.34 Est @ 39.35% 2.11
2022 2.98 Est @ 27.43% 2.55
2023 3.55 Est @ 19.08% 2.88
2024 4.02 Est @ 13.24% 3.10
2025 4.38 Est @ 9.15% 3.21
2026 4.66 Est @ 6.29% 3.24
2027 4.86 Est @ 4.29% 3.21
2028 5.00 Est @ 2.88% 3.13
2029 5.09 Est @ 1.9% 3.03
Present value of next 10 years cash flows $28.00
DB:2H0 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $5.09 × (1 + -0.39%) ÷ (5.33% – -0.39%)
$88.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $88.77 ÷ (1 + 5.33%)10
$52.83
DB:2H0 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $28.00 + $52.83
$80.83
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $80.83 / 87.15
$0.93
DB:2H0 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:2H0 represents 0.83606x of NasdaqCM:XCUR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.83606x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 0.93 x 0.83606
€0.78
Value per share (EUR) From above. €0.78
Current discount Discount to share price of €1.53
= -1 x (€1.53 - €0.78) / €0.78
-97.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Exicure is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Exicure's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Exicure's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:2H0 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-0.46
NasdaqCM:XCUR Share Price ** NasdaqCM (2020-04-08) in USD $1.83
Europe Biotechs Industry PE Ratio Median Figure of 24 Publicly-Listed Biotechs Companies 43.07x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Exicure.

DB:2H0 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:XCUR Share Price ÷ EPS (both in USD)

= 1.83 ÷ -0.46

-4.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Exicure is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Exicure is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Exicure's expected growth come at a high price?
Raw Data
DB:2H0 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -4.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-19.4%per year
Europe Biotechs Industry PEG Ratio Median Figure of 19 Publicly-Listed Biotechs Companies 1.71x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Exicure, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Exicure's assets?
Raw Data
DB:2H0 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $0.94
NasdaqCM:XCUR Share Price * NasdaqCM (2020-04-08) in USD $1.83
Germany Biotechs Industry PB Ratio Median Figure of 14 Publicly-Listed Biotechs Companies 3.37x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:2H0 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:XCUR Share Price ÷ Book Value per Share (both in USD)

= 1.83 ÷ 0.94

1.95x

* Primary Listing of Exicure.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Exicure is good value based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Exicure's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Exicure has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Exicure expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-19.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Exicure expected to grow at an attractive rate?
  • Unable to compare Exicure's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Exicure's earnings growth to the Germany market average as it is expected to be loss making during the next 1-3 years.
  • Exicure's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:2H0 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:2H0 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -19.4%
DB:2H0 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.6%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 38.2%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:2H0 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:2H0 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 2 -70 1
2023-12-31 2 -58 1
2022-12-31 2 -47 1
2021-12-31 9 -24 -31 3
2020-12-31 7 -30 -26 4
2020-04-09
DB:2H0 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1 1 -26
2019-09-30 1 -20 -21
2019-06-30 1 -19 -21
2019-03-31 0 -19 -22
2018-12-31 0 -19 -22
2018-09-30 2 -19 -21
2018-06-30 5 -19 -18
2018-03-31 7 -17 -14
2017-12-31 10 -20 -11
2017-09-30 8 -9 -13
2017-06-30 6 -8 -15
2017-03-31 3 -8 -16

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Exicure is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Exicure's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:2H0 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Exicure Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2H0 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 -0.47 -0.47 -0.47 1.00
2023-12-31 -0.40 -0.40 -0.40 1.00
2022-12-31 -0.36 -0.36 -0.36 1.00
2021-12-31 -0.32 -0.25 -0.40 3.00
2020-12-31 -0.31 -0.13 -0.39 4.00
2020-04-09
DB:2H0 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -0.46
2019-09-30 -0.43
2019-06-30 -0.47
2019-03-31 -0.52
2018-12-31 -0.54
2018-09-30 -0.53
2018-06-30 -0.60
2018-03-31 -0.70
2017-12-31 -1.09
2017-09-30 -78.25
2017-06-30 -148.44
2017-03-31 -150.99

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Exicure will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Exicure's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Exicure has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Exicure performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Exicure's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Exicure does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Exicure's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Exicure's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Exicure's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Exicure Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2H0 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1.30 -26.30 8.57
2019-09-30 0.99 -21.08 8.29
2019-06-30 0.52 -20.59 7.98
2019-03-31 0.11 -22.19 7.98
2018-12-31 0.12 -22.41 7.82
2018-09-30 2.21 -21.10 8.19
2018-06-30 4.65 -17.71 7.54
2018-03-31 7.32 -13.87 7.67
2017-12-31 9.72 -11.01 7.05
2017-09-30 8.31 -13.21 5.61
2017-06-30 5.82 -14.80 5.19
2017-03-31 3.30 -15.71 4.02
2016-12-31 1.04 -16.94 3.54
2015-12-31 2.39 -5.66 5.41

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Exicure has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Exicure has efficiently used its assets last year compared to the Europe Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Exicure improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Exicure's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Exicure has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Exicure's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Exicure's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Exicure is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Exicure's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Exicure's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 22.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Exicure Company Filings, last reported 3 months ago.

DB:2H0 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 80.75 4.97 110.79
2019-09-30 64.95 4.91 70.39
2019-06-30 11.39 4.86 17.18
2019-03-31 16.16 4.81 22.20
2018-12-31 20.95 4.93 26.27
2018-09-30 25.20 4.93 32.45
2018-06-30 9.90 4.90 16.38
2018-03-31 16.31 4.88 21.12
2017-12-31 19.98 4.86 25.76
2017-09-30 11.68 5.22 22.94
2017-06-30 -3.19 5.77 8.83
2017-03-31 2.65 5.67 19.62
2016-12-31 2.65 5.67 19.62
2015-12-31 18.23 0.00 18.73
  • Exicure's level of debt (6.1%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Exicure's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Exicure has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Exicure has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 11.6% per year.
X
Financial health checks
We assess Exicure's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Exicure has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Exicure's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Exicure dividends.
If you bought €2,000 of Exicure shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Exicure's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Exicure's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:2H0 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:2H0 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-04-09

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Exicure has not reported any payouts.
  • Unable to verify if Exicure's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Exicure's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Exicure has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Exicure's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Exicure afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Exicure has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Exicure's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Giljohann
COMPENSATION $524,260
AGE 38
TENURE AS CEO 6.4 years
CEO Bio

Dr. David A. Giljohann, Ph.D. has been the Chief Executive Officer of at Exicure Inc. (also known as AuraSense Therapeutics, LLC) since November 2013 and has been its Director since March 2014. He also serves as the President of Exicure Inc. From July 2012 to October 2013, Dr. Giljohann served as Chief Operating Officer of Exicure OpCo. Dr. Giljohann served as Principal Scientist at Exicure Inc. Dr. Giljohann has been collaborating extensively with physicians in the clinical setting to translate these technologies into impactful materials to improve human health. Dr. Giljohann has been recognized for his work with a Materials Research Society Gold Award, Baxter Innovation Award, Rappaport Award for Research Excellence, NSEC Outstanding Research Award and as a finalist in the National Inventors Hall of Fame Collegiate Inventors Competition. He was also named to the Analytical Scientist’s “Top 40 Under 40 Power List” in 2014. He has contributed to over 25 manuscripts and multiple patents and applications. Dr. Giljohann completed his Ph.D. in the laboratory of Dr. Chad A. Mirkin, where he developed oligonucleotide-modified nanoparticles, including NanoFlare and Spherical Nucleic Acid (SNA ) constructs. Dr. Giljohann obtained his Ph.D. in 2009 from Northwestern University.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year, both up more than 20%.
  • David's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Exicure management team in years:

5.8
Average Tenure
53
Average Age
  • The average tenure for the Exicure management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Chad Mirkin

TITLE
Co-Founder & Chairman
COMPENSATION
$248K
AGE
55

David Giljohann

TITLE
CEO & Director
COMPENSATION
$524K
AGE
38
TENURE
6.4 yrs

David Snyder

TITLE
Chief Financial Officer
COMPENSATION
$804K
AGE
59
TENURE
5.8 yrs

Matthias Schroff

TITLE
Chief Operating Officer
AGE
51
TENURE
2 yrs
Board of Directors Tenure

Average tenure and age of the Exicure board of directors in years:

6.1
Average Tenure
54.5
Average Age
  • The tenure for the Exicure board of directors is about average.
Board of Directors

David Giljohann

TITLE
CEO & Director
COMPENSATION
$524K
AGE
38
TENURE
6.1 yrs

Helen Kim

TITLE
Independent Director
COMPENSATION
$138K
AGE
57
TENURE
5.8 yrs

Chad Mirkin

TITLE
Co-Founder & Chairman
COMPENSATION
$248K
AGE
55

David Walt

TITLE
Independent Director
COMPENSATION
$133K
AGE
66
TENURE
7.3 yrs

Jay Venkatesan

TITLE
Independent Director
COMPENSATION
$138K
AGE
47
TENURE
6.1 yrs

Steven Rosen

TITLE
Member of Advisory Board

Freddy Y. Boey

TITLE
Member of Advisory Board

Michael Hodges

TITLE
Member of Advisory Board

Amy Paller

TITLE
Member of Advisory Board

Jeff Cleland

TITLE
Director
AGE
54
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Exicure individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
16. Mar 20 Buy Chad Mirkin Individual 12. Mar 20 12. Mar 20 15,000 €1.31 €19,655
16. Mar 20 Buy David Walt Individual 13. Mar 20 13. Mar 20 291,066 €1.09 €318,597
16. Mar 20 Buy David Snyder Individual 12. Mar 20 12. Mar 20 18,248 €1.27 €23,127
23. Dec 19 Buy Balaji Muralidhar Individual 19. Dec 19 19. Dec 19 727,000 €2.47 €1,797,526
12. Aug 19 Buy Tybourne Capital Management (HK) Ltd. Company 31. Jul 19 31. Jul 19 6,250,000 €1.80 €11,231,250
06. Aug 19 Buy BSR Enterprises, LLC Company 02. Aug 19 02. Aug 19 25,000 €1.80 €45,015
06. Aug 19 Buy Jay Venkatesan Individual 02. Aug 19 02. Aug 19 250,000 €1.80 €450,150
06. Aug 19 Buy David Walt Individual 02. Aug 19 02. Aug 19 1,000,000 €1.80 €1,800,600
X
Management checks
We assess Exicure's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Exicure has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Exicure, Inc., a clinical-stage biotechnology company, develops gene regulatory and immuno-oncology therapeutics based on spherical nucleic acid (SNA) technology. Its three clinical programs include AST-008, which is in a Phase I clinical trial, an SNA consisting of toll-like receptor 9 that is designed for immuno-oncology applications; XCUR17, which is in a Phase I clinical trial, an SNA that targets the messenger RNA (mRNA) encoding interleukin 17 receptor alpha, a protein that helps in the initiation and maintenance of psoriasis; and AST-005, which is in a Phase I clinical trial, an SNA that targets TNF for the treatment of mild to moderate psoriasis. The company has a collaboration agreement with Purdue Pharma L.P. Purdue Pharma for the development of AST-005; and license and development agreement DERMELIX, LLC, d/b/a Dermelix Biotherapeutics to research, develop, and commercialize Exicure’s technology for the treatment of Netherton Syndrome and for five additional rare skin indications; and research collaboration with Rosalind Franklin University of Medicine and Science to develop therapeutics for genetic diseases. Exicure, Inc. was founded in 2011 and is headquartered in Skokie, Illinois.

Details
Name: Exicure, Inc.
2H0
Exchange: DB
Founded: 2011
$146,662,698
87,150,447
Website: http://www.exicuretx.com
Address: Exicure, Inc.
8045 Lamon Avenue,
Suite 410,
Skokie,
Illinois, 60077,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM XCUR Common Stock Nasdaq Capital Market US USD 11. May 2018
DB 2H0 Common Stock Deutsche Boerse AG DE EUR 11. May 2018
Number of employees
Current staff
Staff numbers
29
Exicure employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 02:52
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/08
Last earnings filing: 2020/03/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.