Cue Biopharma raises $50M in private placement

Cue Biopharma, Inc. (Nasdaq: CUE) announced a securities purchase agreement with accredited investors for a private placement expected to raise approximately $50.0 million in gross proceeds.

The offering includes 1,418,071 shares of common stock at $33.21 per share. Certain investors will receive pre-funded warrants to purchase up to 87,500 shares of common stock at $33.209 per warrant, with an exercise price of $0.001 per share. The warrants are immediately exercisable and remain exercisable until exercised in full.

The private placement was led by Cormorant Asset Management, with participation from Columbia Threadneedle Investments. The transaction is expected to close on or about July 13, 2026, subject to customary closing conditions.

Cue Biopharma said it intends to use net proceeds to fund clinical development and for general corporate purposes.

Shao-Lee Lin, M.D., Ph.D., chief executive officer and president, said the company looks forward to "upcoming clinical milestones, including data from Ascendant Health's ongoing Phase 2 CSU study in China, which is expected by the end of the third quarter of 2026."

The company has agreed to file a registration statement with the Securities and Exchange Commission to register the resale of the shares issued in the placement. The securities have not been registered under the Securities Act of 1933.

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