Cue Biopharma, Inc. (Nasdaq: CUE) priced a public offering of 35,714,286 shares of common stock (or pre‑funded warrants) and 17,857,143 accompanying warrants to purchase additional shares. The offering was priced at $0.28 per unit, with a warrant exercise price of $0.30 and a five‑year expiration period.
The underwriters, H.C. Wainwright & Co. as sole book‑running manager and Newbridge Securities Corporation as co‑manager, were granted a 30‑day option to purchase up to an additional 15% of the shares and/or warrants. The registration statement was filed on Form S‑3 (File No. 333‑271786) and declared effective on May 26, 2023.
The offering is expected to close on or about December 22, 2025, subject to customary closing conditions. The gross proceeds are projected to be approximately $10 million before underwriting discounts and commissions, providing the company with additional liquidity to support its clinical development and strategic initiatives.
The capital raise is intended to extend Cue Biopharma’s cash runway and mitigate the going‑concern risk highlighted in recent filings. By raising $10 million, the company can continue to fund its autoimmune pipeline expansion and pursue potential partnerships for its oncology programs without immediate reliance on debt or additional equity issuances.
The company’s focus on its Immuno‑STAT platform underpins both its autoimmune and oncology strategies. Recent collaborations with ImmunoScape and Boehringer Ingelheim are expected to deliver upfront payments and milestone revenues, further strengthening liquidity and reducing reliance on future capital raises.
Investor reaction to the announcement was tempered by concerns over dilution from the new shares and warrants, the discount of the offering price relative to the prior trading level, and the ongoing going‑concern risk. These factors contributed to a cautious market response, reflecting the perceived impact on shareholder value and the company’s financial position.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.