UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

____________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~November~~January 1016, ~~2025~~2026

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Exicure, Inc.

(Exact Name of Registrant as Specified in its Charter)

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Delaware	001-39011	81-5333008
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)


400 Seaport Court, Suite 102
Redwood City, CA						94063
(Address of Principal Executive Offices)						(Zip Code)

Registrant’s telephone number, including area code: (847) 673-1700

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

XCUR

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 8.01 Other Events

~~Early~~Completion ~~Redemption~~ of ~~Convertible~~Milestone ~~Bonds~~1

On ~~November~~January 1016, ~~2025~~2026, Exicure, Inc. (the “Company”) ~~redeemed~~achieved inthe ~~full~~first contractual milestone under its License and Collaboration Agreement (the ~~4.5~~“Agreement”) ~~billion~~with ~~KRW,~~GPCR ~~approximately~~Therapeutics $3Inc.~~125~~ The ~~million~~milestone ~~USD,~~relates ~~aggregate~~to ~~principal~~the ~~amount~~completion of the Company’s Phase 2~~.90%~~ ~~Convertible~~clinical ~~Bonds~~trial ~~due~~of ~~2028~~its ~~(the~~novel ~~“Bonds”~~stem cell mobilizer (NCT05561751), ~~previously~~which ~~issued~~was byachieved ~~its~~through ~~wholly~~the ~~owned~~formal ~~subsidiary,~~submission KCof ~~Creation~~the CoClinical Study Report to the U.S. Food and Drug Administration on January 16, ~~Ltd~~2026. Under ~~(“KC~~the ~~Creation”),~~terms ~~and~~of ~~held~~the byAgreement, the Company is required to make a milestone payment of $1,000,000 to GPCR Therapeutics Inc. within 30 days of achieving this milestone. The Company intends to make this payment in accordance with the terms of the Agreement.

The ~~Bonds~~Company ~~were~~believes ~~originally~~that ~~issued~~achieving onthis ~~April~~milestone ~~30,~~reflects ~~2025~~continued asprogress ~~part~~in the development and advancement of anthe ~~internal~~small ~~capital~~molecule ~~structure~~CXCR4 ~~strategy~~inhibitor, ~~and~~Burixafor ~~are~~(GPC‑100). In ~~convertible~~addition, ~~into~~under ~~shares~~the terms of KCthe ~~Creation~~Agreement, ~~common~~completion ~~stock~~of ~~under~~this ~~certain~~milestone ~~conditions. The~~triggers ~~early~~the ~~redemption~~future ~~was~~sublicensing ~~executed~~income‑sharing ~~and~~ratio, ~~funded~~reflecting ~~through~~the ~~internal~~Company’s ~~cash~~increased ~~transfers. No~~participation ~~third-party~~in ~~holders~~and ~~were~~commitment ~~involved~~to inthe long‑term success of the ~~transaction~~program.

This redemption is part of the Company’s ongoing efforts to simplify its intercompany financing arrangements and

secure liquidity for the continued operations of the Company and development of its biotechnology business. The transaction will be eliminated in consolidation and is not expected to have a material impact on the Company’s consolidated financial statements.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.						Description
104						Cover Page Interactive Data File (Embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 17, 2025	EXICURE, INC.
Date: January 22, 2026	EXICURE, INC.
	(registrant)
	By:	/s/ Andy Yoo
		Andy Yoo
		Chief Executive Officer

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