<SEC-DOCUMENT>0001013594-25-001501.txt : 20251210
<SEC-HEADER>0001013594-25-001501.hdr.sgml : 20251210
<ACCEPTANCE-DATETIME>20251210205119
ACCESSION NUMBER:		0001013594-25-001501
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251208
FILED AS OF DATE:		20251210
DATE AS OF CHANGE:		20251210

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SANGSANGIN INVESTMENT & SECURITIES CO., LTD.
		CENTRAL INDEX KEY:			0002049712
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			M5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39011
		FILM NUMBER:		251563297

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		22F, PARC.1, 108, YEOUI-DAERO
		STREET 2:		YEONGDEUNGPO-GU
		CITY:			SEOUL
		PROVINCE COUNTRY:   	M5
		BUSINESS PHONE:		82-2-1566-0900

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		22F, PARC.1, 108, YEOUI-DAERO
		STREET 2:		YEONGDEUNGPO-GU
		CITY:			SEOUL
		PROVINCE COUNTRY:   	M5

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EXICURE, INC.
		CENTRAL INDEX KEY:			0001698530
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				815333008
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2430 N. HALSTED ST.
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60614
		BUSINESS PHONE:		847-673-1707

	MAIL ADDRESS:	
		STREET 1:		2430 N. HALSTED ST.
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Max-1 Acquisition Corp
		DATE OF NAME CHANGE:	20170221
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-12-08</periodOfReport>

    <issuer>
        <issuerCik>0001698530</issuerCik>
        <issuerName>EXICURE, INC.</issuerName>
        <issuerTradingSymbol>XCUR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002049712</rptOwnerCik>
            <rptOwnerName>SANGSANGIN INVESTMENT &amp; SECURITIES CO., LTD.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>22F, PARC.1, 108, YEOUI-DAERO</rptOwnerStreet1>
            <rptOwnerStreet2>YEONGDEUNGPO-GU</rptOwnerStreet2>
            <rptOwnerCity>SEOUL</rptOwnerCity>
            <rptOwnerState>M5</rptOwnerState>
            <rptOwnerZipCode>07335</rptOwnerZipCode>
            <rptOwnerStateDescription>KOREA, REPUBLIC OF</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </securityTitle>
            <transactionDate>
                <value>2025-12-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>433332</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.71</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Sangsangin Co., Ltd., a corporation formed under the laws of the Republic of Korea, as the majority shareholder of the Reporting Person, may be deemed to beneficially own the shares reported by the Reporting Person hereunder. Mr. Jun Won Yoo, as the chief executive officer of Sangsangin Co., Ltd., may be deemed to beneficially own the shares beneficially owned by Sangsangin Co., Ltd.</footnote>
        <footnote id="F2">The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Person is, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities of the Issuer it does not directly own.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Sangsangin Investment &amp; Securities Co., Ltd. By: /s/ Won Ju Title: Chief Executive Officer</signatureName>
        <signatureDate>2025-12-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
