Exicure Inc (XCUR), a small-cap biotechnology company, experienced a dramatic surge in its stock price after the close of trading on Wednesday. The surge followed the company’s announcement that it had received an extension from the Nasdaq Hearings Panel, granting it until November 14th to comply with all listing requirements. This news sparked a frenzy in after-hours trading, with Exicure shares more than doubling in value and reaching new 52-week highs.
The company’s recent climb is attributed to its status as a low-float, micro-cap stock. This means that there are only a limited number of shares available for public trading (just 1.118 million shares according to Benzinga Pro), making it particularly susceptible to volatility. With a market cap under $4 million, any shift in investor sentiment or news can drastically impact the stock price.
Exicure’s recent efforts to regain compliance with Nasdaq’s minimum bid price requirement and its debt-for-equity exchange at a conversion price of $3 per share played a crucial role in securing the extension. The company’s announcement that it is diligently working to satisfy the remaining terms of the Nasdaq Panel’s requests further fueled investor optimism.
While the extension grants Exicure valuable time to meet listing requirements, its low-float and micro-cap status will continue to make it a volatile investment. Investors should exercise caution and conduct thorough research before making any investment decisions related to this stock.
