Exicure Inc. (NASDAQ: XCUR) announced a settlement agreement for consolidated stockholder derivative litigation, according to a company statement. The biotechnology company will pay $675,000 in attorney fees and expenses through its insurers to resolve claims related to alleged failures in internal controls and data reporting.

The derivative lawsuit alleged that company directors breached fiduciary duties by failing to maintain adequate internal controls for collecting, analyzing and reporting study data. The claims also alleged false and misleading statements about the company's drug candidate XCUR-FXN. Defendants denied all allegations of wrongdoing.

Under the settlement terms dated March 18, 2026, Exicure agreed to implement corporate governance reforms that will remain in place for four years. The company acknowledged that the litigation prompted its decision to adopt these governance changes.

The U.S. District Court for the Northern District of Illinois will hold a settlement hearing on June 2, 2026, at 10:30 a.m. to determine if the agreement is fair and reasonable. Current stockholders who wish to object must file their objections by May 12, 2026.

The settlement also provides for service awards of up to $2,000 for each plaintiff, to be paid from the attorney fee amount. Since this is not a class action, stockholders will not receive individual compensation from the settlement.

Exicure is a clinical-stage biotechnology company that acquired another biotechnology firm in January 2025 focused on developing therapeutics for blood disorders. The company is exploring strategic alternatives following a restructuring that suspended previous clinical activities.