Cue Biopharma, Inc. (CUE)
Cue Biopharma, Inc. is a clinical-stage biopharmaceutical enterprise focused on creating biological therapies. Its central objective is the precise manipulation of the human immune system to address a spectrum of severe conditions, such as various cancers, chronic infectious diseases, and autoimmune disorders. The company's leading investigational therapeutic is CUE-101, a specialized fusion protein biologic. This candidate is currently advancing through Phase 1b clinical trials, engineered to specifically identify and activate antigen-specific T cells involved in cancers originating from human papillomavirus. Beyond its flagship program, Cue Biopharma is also developing a range of other innovative platforms: CUE-102, another fusion protein biologic designed to stimulate specific T cells to combat cancer; CUE-103, an Immuno-STAT from the CUE-100 series, which is developed to target the KRAS G12V mutation relevant in diseases like colorectal, lung, and pancreatic cancers; CUE-200, which concentrates on cell surface receptors such as CD80 and/or 4-1BBL to counteract T cell exhaustion often seen in chronic infections; and the CUE-300 and CUE-400 frameworks, conceptual platforms aimed at treating diverse autoimmune conditions. Cue Biopharma maintains key strategic alliances, including collaborations with Merck Sharp & Dohme Corp. for the research and development of its unique biologics targeting autoimmune indications, with LG Chem Life Sciences for advancing Immuno-STATs in the field of oncology, and with the Albert Einstein College of Medicine. The company, founded in 2014, was initially known as Imagen Biopharma, Inc. before adopting its current name, Cue Biopharma, Inc., in October 2016. It is headquartered in Cambridge, Massachusetts.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Cue Biopharma, Inc.
NASDAQ:CUEHealthcare · Biotechnology
-2.70%$20.87
AH$20.87+0.00%vs close
Mkt Cap$151.61M
Float6.92M
O/S7.26M
Vol
$ Vol
RVOL
Inst Own22.7%
Earnings
Dilution
Financials Summary
Revenue$27.47M
Net Income-$26.6M
Total Assets$42.21M
Free Cash Flow-$21.86M
Debt & Equity
Debt 14%
Equity 86%
Total Debt$4.2M
Total Equity$26.43M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:30
Nasdaq bars a compliance period at 1:250
- 1:30Reverse splitApr 24, 202630 shares → 1
Balance Sheet Details
Assets$42.21M
Liabilities$15.78M
Accounts Receivable$7.45M
Accounts Payable$3.95M
Inventory$0
PP&E (Net)$4.32M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Revenue | $27.47M | $9.29M | $5.49M | $1.25M | $14.94M | $3.15M | $3.46M | $1.14M | $0 | $0 | $0 |
| YoY Growth | 195.7% | 69.2% | 341.0% | -91.7% | 373.7% | -8.8% | 202.7% | - | - | - | - |
| Cost of Revenue | $0 | $0 | $38.1M | $0 | -$1.78M | $33.55M | $27.49M | $28.54M | $420K | $202K | $45K |
| Gross Profit | $27.47M | $9.29M | -$32.61M | $1.25M | $16.72M | -$30.39M | -$24.03M | -$27.4M | -$420K | -$202K | -$45K |
| Gross Margin | 100.0% | 100.0% | -593.9% | 100.0% | 111.9% | -963.5% | -694.8% | -2398.2% | - | - | - |
| Research and Development | $37.74M | $36.3M | $40.8M | $38.58M | $41.35M | $33.55M | $27.49M | $28.54M | $18.9M | $5.69M | $1.5M |
| Selling, General, and Administrative | $16.24M | $14.59M | $16.68M | $16.17M | $17.31M | $14.65M | $12.74M | $11.3M | $4.33M | $1.97M | $425K |
| Other | $0 | -$93K | -$37.94M | -$277K | $1.78M | -$33.55M | -$27.49M | $165K | $0 | $0 | $0 |
| Total Operating Expenses | $53.99M | $50.79M | $19.54M | $54.47M | $60.43M | $14.65M | $12.74M | $39.84M | $23.23M | $7.66M | $1.93M |
| Operating Income (EBIT) | -$26.52M | -$41.5M | -$52.15M | -$53.23M | -$43.71M | -$45.04M | -$36.77M | -$38.7M | -$23.23M | -$7.66M | -$1.93M |
| Operating Margin | -96.6% | -446.9% | -949.9% | -4275.1% | -292.6% | -1428.0% | -1063.2% | -3386.7% | - | - | - |
| Interest Expense | $357K | $796K | $1.25M | $714K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $807K | $1.62M | $2.66M | $928K | $46K | $464K | $419K | $376K | $35 | $52 | $0 |
| Other Income (Expense) | $419K | $826K | $1.42M | $215K | $46K | $464K | $483K | $541K | $35 | $52 | $0 |
| Income Before Tax (EBT) | -$26.1M | -$40.67M | -$50.73M | -$53.01M | -$43.67M | -$44.58M | -$36.29M | -$38.16M | -$23.23M | -$7.66M | -$1.93M |
| Income Tax Expense | $500K | $0 | $0 | $0 | $495K | $206K | $413K | $825K | $0 | $0 | $0 |
| Net Income | -$26.6M | -$40.67M | -$50.73M | -$53.01M | -$44.16M | -$44.78M | -$36.7M | -$38.98M | -$23.23M | -$7.66M | -$1.93M |
| Net Income Margin | -96.9% | -438.0% | -924.1% | -4257.8% | -295.6% | -1419.8% | -1061.2% | -3411.5% | - | - | - |
| Supplementary Data | |||||||||||
| EPS | -8.40 | -21.60 | -33.30 | -44.70 | -42.30 | -46.80 | -49.80 | -58.20 | -33.90 | -11.10 | -7.80 |
| Diluted EPS | -8.40 | -21.60 | -33.30 | -44.70 | -42.30 | -46.80 | -49.80 | -58.20 | -33.90 | -11.10 | -7.80 |
| Weighted Average OS | 3.16M | 1.88M | 1.53M | 1.19M | 1.04M | 956,287 | 734,726 | 671,135 | 688,020 | 688,020 | 245,090 |
| EBITDA | -$24.79M | -$37.53M | -$46.05M | -$50.49M | -$45.44M | -$43.99M | -$35.96M | -$37.94M | -$22.81M | -$7.46M | -$1.88M |
| EBITDA Margin | -90.2% | -404.1% | -838.8% | -4055.5% | -304.1% | -1394.4% | -1039.8% | -3320.2% | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $27.14M | $22.46M | $48.51M | $51.61M | $64.37M | $74.87M | $44.29M | $20.8M | $63.53M | $14.93M | $6.41M |
| Short-Term Investments | $0 | $0 | $0 | $24.68M | $0 | $10M | $15.12M | $18.41M | $50K | $50K | $50K |
| Cash and Short-Term Investments | $27.14M | $22.46M | $48.51M | $76.29M | $64.37M | $84.87M | $59.41M | $39.21M | $63.58M | $14.98M | $6.46M |
| Accounts Receivable | $7.45M | $945K | $1.7M | $57K | $3.14M | $1.42M | $755K | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $226K | $0 | $0 |
| Other Current Assets | $2.4M | $805K | $1.24M | $841K | $80K | $0 | $0 | $104K | $453K | $0 | $0 |
| Total Current Assets | $36.98M | $25.14M | $51.45M | $77.19M | $68.47M | $87.53M | $61.02M | $40.61M | $65.07M | $15.14M | $6.51M |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $4.32M | $4.84M | $7.12M | $10.7M | $11.92M | $8.88M | $7.18M | $2.78M | $1.69M | $1.02M | $709K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $12K | $0 | $175K | $0 | $0 |
| Long-Term Investments | $154K | $0 | $151K | $0 | $150K | $0 | $0 | $150K | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $760K | $2.21M | $2.81M | $3.39M | $2.86M | $3.12M | $3.38M | $1.82M | $23K | $117K | $99K |
| Total Long-Term Assets | $5.23M | $7.05M | $10.08M | $14.1M | $14.93M | $12.01M | $10.58M | $4.75M | $1.89M | $1.14M | $808K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $42.21M | $32.19M | $61.53M | $91.28M | $83.4M | $99.53M | $71.61M | $45.36M | $66.95M | $16.28M | $7.31M |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $3.95M | $2.82M | $3.5M | $2.73M | $2.59M | $2.07M | $883K | $2.04M | $1.33M | $524K | $140K |
| Short-Term Debt | $0 | $4.33M | $3.96M | $1.96M | $1.97M | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $5.33M | $85K | $2.11M | $0 | $645K | $6.68M | $0 | $2.01M | $624K | $0 | $0 |
| Other Current Liabilities | $783K | $1.81M | $1.92M | $2.27M | $38K | $1.96M | $4.1M | $1.58M | $2.54M | $109K | $45K |
| Total Current Liabilities | $13.49M | $13.69M | $17.08M | $11.55M | $12.79M | $16.32M | $11.66M | $6.22M | $5.35M | $1.07M | $342K |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $0 | $0 | $4.2M | $8.04M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $1.94M | $0 | $5.17M | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $4.02M | $0 | $0 | $36K | $34K |
| Total Long-Term Liabilities | $2.29M | $1M | $7.36M | $14.05M | $5.12M | $4.31M | $5.37M | $5.17M | $0 | $36K | $34K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $15.78M | $14.69M | $24.45M | $25.6M | $17.91M | $20.62M | $17.02M | $11.39M | $5.35M | $1.1M | $376K |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $97K | $62K | $47K | $43K | $32K | $30K | $27K | $21K | $20K | $11K | $7K |
| Retained Earnings | -$368.47M | -$341.86M | -$301.19M | -$250.46M | -$197.45M | -$153.29M | -$108.5M | -$71.8M | -$32.82M | -$9.59M | -$1.93M |
| Comprehensive Income & Other | $0 | $0 | $0 | -$96K | $0 | $7K | -$10K | -$11K | -$661K | -$247K | -$45K |
| Other Stockholders' Equity | $394.8M | $359.3M | $338.23M | $316.1M | $262.91M | $232.17M | $163.06M | $105.75M | $94.41M | $24.75M | $8.86M |
| Total Equity | $26.43M | $17.5M | $37.09M | $65.68M | $65.49M | $78.91M | $54.58M | $33.97M | $61.61M | $15.17M | $6.94M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $42.21M | $32.19M | $61.53M | $91.28M | $83.4M | $99.53M | $71.61M | $45.36M | $66.95M | $16.28M | $7.31M |
| Supplementary Data | |||||||||||
| Total Debt | $4.2M | $8.88M | $14.7M | $19.32M | $12.02M | $7.15M | $5.8M | $0 | $2.5M | $0 | $0 |
| Net Debt | -$22.94M | -$13.58M | -$33.82M | -$32.3M | -$52.35M | -$67.72M | -$38.49M | -$20.8M | -$61.03M | -$14.93M | -$6.41M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Operating Activities | |||||||||||
| Net Income | -$26.6M | -$40.67M | -$50.73M | -$53.01M | -$44.16M | -$44.78M | -$36.7M | -$38.98M | -$23.23M | -$7.66M | -$1.93M |
| Depreciation & Amortization | $958K | $2.35M | $3.44M | $1.81M | -$1.78M | $1.06M | $811K | $760K | $420K | $202K | $45K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | -$18K | $80K | $11K | $0 | $0 |
| Stock-Based Compensation | $4.74M | $6.85M | $8.18M | $9.5M | $11.52M | $10.48M | $6.52M | $7.17M | $2.78M | $890K | $0 |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | -$6.5M | $753K | -$1.64M | $3.08M | -$1.73M | -$663K | -$755K | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | -$510K | $0 | $0 | $0 | $0 |
| Accounts Payable | $1.13M | -$678K | $770K | $83K | $520K | $741K | -$1.15M | $376K | $562K | $0 | $178K |
| Other Working Capital | $2.08M | -$5M | -$63K | -$2.81M | -$3.18M | $5.36M | $929K | $3.83M | $2.35M | $532K | -$31K |
| Total Working Capital Change | -$3.29M | -$4.92M | -$934K | $356K | -$4.39M | $5.43M | -$1.49M | $4.21M | $2.91M | $532K | $147K |
| Other Non-Cash Items | $2.51M | $74K | $90K | -$454K | -$26K | -$4.68M | $77K | $345K | $4.93M | $66K | $80K |
| Net Cash from Operating | -$21.69M | -$36.33M | -$39.96M | -$41.81M | -$38.84M | -$32.49M | -$30.8M | -$26.41M | -$12.19M | -$5.97M | -$1.66M |
| Investing Activities | |||||||||||
| Capital Expenditures | -$177K | -$66K | $0 | -$171K | -$913K | -$595K | -$46K | -$1.85M | -$1.2M | -$516K | -$754K |
| Acquisitions | $40K | $0 | $0 | $0 | $0 | $0 | $128K | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$16.5M | $0 | $0 | -$29.45M | $0 | -$9.95M | -$15.13M | -$39.5M | $0 | $0 | $0 |
| Sales of Investments | $16.5M | $0 | $25M | $5M | $10M | $15M | $18.5M | $21M | $0 | $0 | $0 |
| Other Investing Activities | $212K | $98K | $2K | $6K | $22K | $0 | $0 | -$18.5M | -$35 | -$33 | -$50K |
| Net Cash from Investing | $75K | $32K | $25M | -$24.61M | $9.11M | $4.46M | $3.45M | -$20.35M | -$1.2M | -$516K | -$804K |
| Financing Activities | |||||||||||
| Debt Repaid | $4.5M | $4M | $2M | -$10M | - | - | - | - | - | - | - |
| Common Stock Issuance | $30.79M | $14.22M | $13.39M | $39.3M | $17.38M | $56.68M | $49M | $4.17M | $66.16M | $16.41M | $10M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | -$91K | $0 | -$4.16M | -$1.41M | -$1.14M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $18K | $473K | $4.36M | $1.85M | $1.93M | $1.79M | $13K | $9K | $0 | $1K |
| Net Cash from Financing | $26.29M | $10.24M | $11.86M | $53.66M | $19.23M | $58.61M | $50.79M | $4.18M | $62M | $15.01M | $8.87M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $4.68M | -$26.05M | -$3.1M | -$12.76M | -$10.5M | $30.58M | $23.44M | -$42.58M | $48.61M | $8.52M | $6.41M |
| Supplementary Data | |||||||||||
| Operating Cash Flow | -$21.69M | -$36.33M | -$39.96M | -$41.81M | -$38.84M | -$32.49M | -$30.8M | -$26.41M | -$12.19M | -$5.97M | -$1.66M |
| Capital Expenditure | -$177K | -$66K | $0 | -$171K | -$913K | -$595K | -$46K | -$1.85M | -$1.2M | -$516K | -$754K |
| Free Cash Flow | -$21.86M | -$36.4M | -$39.96M | -$41.98M | -$39.75M | -$33.09M | -$30.84M | -$28.27M | -$13.4M | -$6.48M | -$2.41M |
| Cash at Beginning | $22.61M | $48.66M | $51.76M | $64.52M | $75.02M | $44.44M | $21M | $63.58M | $14.93M | $6.41M | $0 |
| Cash at End | $27.29M | $22.61M | $48.66M | $51.76M | $64.52M | $75.02M | $44.44M | $21M | $63.53M | $14.93M | $6.41M |