Cue Biopharma announces proposed public stock offering

Cue Biopharma Inc. (NASDAQ: CUE) announced December 18 that it is commencing an underwritten public offering of common stock shares and accompanying warrants to purchase common stock shares.

The clinical-stage biopharmaceutical company said it may offer pre-funded warrants to purchase common stock in lieu of shares. Cue Biopharma intends to grant underwriters a 30-day option to purchase up to an additional 15% of the shares and warrants offered in the public offering.

The company stated the proposed offering is subject to market and other conditions, with no assurance regarding completion, timing, size or terms of the offering.

H.C. Wainwright & Co. is acting as sole book-running manager for the proposed offering, while Newbridge Securities Corporation serves as co-manager.

The securities are being offered pursuant to an effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on May 9, 2023, and declared effective on May 26, 2023.

Cue Biopharma develops therapeutic biologics designed to selectively engage and modulate disease-specific T cells for treating autoimmune disease. The company's platform, called Immuno-STAT, aims to harness the immune system without broad systemic immune modulation effects.

The Boston-based company's announcement included standard disclaimers that the press release does not constitute an offer to sell securities and that such sales would be unlawful prior to registration or qualification under applicable securities laws.

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