C
Cue Biopharma, Inc.
CUECIK 0001645460NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
$27.47M
Net Income
$-26.60M
Total Assets
$42.21M
Equity
$26.43M
Shares Out
97.66M
Op. Cash Flow
$-21.69M
Business
Cue Biopharma, Inc. is a clinical-stage biopharmaceutical company developing precision immunotherapies that selectively modulate disease-relevant T cells to treat cancer and autoimmune diseases. It develops injectable therapeutics from its proprietary Immuno-STAT platform, including the CUE-100 oncology series, CUE-400 series designed to enhance and induce regulatory T cells for autoimmune disorders, and the CUE-500 series for targeted cell depletion. Its operations are organized around these program series covering platform engineering, preclinical work and clinical development. It conducts clinical trials internationally and uses collaborations and licensing arrangements to advance and commercialize its candidates.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Collaboration revenue | 27 | 9 | 5 | 1 | 15 | |
| General and administrative | 16 | 15 | 17 | 16 | 17 | |
| Research and development | 38 | 36 | 41 | 39 | 41 | |
| Loss (gain) on fixed asset disposal | 31,000 | −93,000 | 157,000 | — | — | |
| Total operating expenses | 54 | 51 | 58 | 54 | 59 | |
| Loss from operations | −27 | −42 | −52 | −53 | −44 | |
| Interest income | 807,000 | 2 | 3 | 928,000 | 45,898 | |
| Interest expense | −357,000 | −796,000 | −1 | −713,000 | 0 | |
| Total other income, net | 450,000 | 826,000 | 1 | 215,000 | 45,898 | |
| Loss before provision for income taxes | −26 | −41 | — | — | — | |
| Provision for income taxes | −500,000 | 0 | — | 0 | −495,000 | |
| Net loss | −27 | −41 | −51 | −53 | −44 | |
| Net loss per common share - basic | −0.28 | −0.72 | −1.11 | −1.49 | −1.41 | |
| Net loss per common share - diluted | −0.28 | −0.72 | −1.11 | −1.49 | −1.41 | |
| Weighted average common shares outstanding, basic | 95 | 56 | 46 | 36 | 31 | |
| Weighted average common shares outstanding, diluted | 95 | 56 | 46 | 36 | 31 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 27 | 22 | 49 | 52 | 64 | |
| Accounts receivable | 6 | 945,000 | 2 | 57,000 | 3 | |
| Deposits, current portion | 1 | 929,000 | 287,000 | — | — | |
| Prepaid expenses and other current assets | 1 | 805,000 | 955,000 | 841,000 | 954,792 | |
| Foreign withholding tax receivable | 2 | 0 | — | — | — | |
| Total current assets | 37 | 25 | 51 | 77 | 68 | |
| Property and equipment, net | 241,000 | 471,000 | 795,000 | 1 | 2 | |
| Operating lease, right-of-use asset | 4 | 4 | 6 | 9 | 10 | |
| Deposits, net of current portion | 666,000 | 2 | 3 | 3 | 3 | |
| Restricted cash | 154,000 | 152,000 | 151,000 | 150,000 | 150,000 | |
| Other long term assets | 94,000 | 105,000 | 117,000 | 128,000 | 140,000 | |
| Total assets | 42 | 32 | 62 | 91 | 83 | |
| Accounts payable | 4 | 3 | 4 | 3 | 3 | |
| Accrued expenses | 2 | 3 | 4 | 4 | 5 | |
| Research and development contract liability, current portion | 5 | 85,000 | 2 | 0 | 645,344 | |
| Operating lease liabilities, net of current portion | 2 | 4 | 3 | 3 | 5 | |
| Current portion of long-term debt, net | 0 | 4 | 4 | 2 | 0 | |
| Other current payable | 689,000 | 0 | — | — | — | |
| Total current liabilities | 13 | 14 | 17 | 12 | 13 | |
| Operating lease liabilities, current portion | 2 | 1 | 3 | 6 | 5 | |
| Total liabilities | 16 | 15 | 24 | 26 | 18 | |
| Commitments and contingencies (Note 14) | — | — | — | — | — | |
| Preferred stock, $0.001 par value; 10,000,000 shares authorized and 0 shares issued and outstanding at December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.001 par value; 300,000,000 and 200,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 96,621,218 and 61,819,101 shares issued and outstanding at December 31, 2025 and 2024, respectively | 97,000 | 62,000 | 47,000 | 43,000 | 32,202 | |
| Additional paid in capital | 395 | 359 | 338 | 316 | 263 | |
| Accumulated deficit | −368 | −342 | −301 | −250 | −197 | |
| Total stockholders equity | 26 | 17 | 37 | 66 | 65 | |
| Total liabilities and stockholders equity | 42 | 32 | 62 | 91 | 83 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −27 | −41 | −51 | −53 | −44 | |
| Depreciation and amortization | 958,000 | 397,000 | 556,000 | 922,000 | 1 | |
| Stock-based compensation | 5 | 7 | 8 | 9 | 12 | |
| Decrease in the carrying amount of right-of-use assets | 3 | 2 | 3 | 884,000 | — | |
| Amortization of premium/discount on purchased securities | −212,000 | 0 | −234,000 | −321,000 | −4,581 | |
| Amortization of debt issuance costs | 37,000 | 37,000 | 37,000 | 31,000 | 0 | |
| Accretion of final payment of term loan | 130,000 | 130,000 | 130,000 | 109,000 | 0 | |
| Accounts receivable | −5 | 753,000 | −2 | 3 | −2 | |
| Prepaid expenses and other current assets | −1 | 150,000 | −401,000 | 34,000 | −50,434 | |
| Deposits | 1 | 93,000 | 426,000 | −395,000 | −148,515 | |
| Foreign withholding tax receivable | −2 | 0 | — | — | — | |
| Other payable | 689,000 | 0 | — | — | — | |
| Accounts payable | 1 | −678,000 | 770,000 | 83,000 | 520,398 | |
| Accrued expenses | −1 | −1 | 588,000 | −1 | 2 | |
| Research and development contract liability, current portion | 5 | −2 | 2 | −645,000 | −8 | |
| Operating lease liability | −3 | −2 | −3 | −735,000 | 3 | |
| Net cash used in operating activities | −22 | −36 | −40 | −42 | −39 | |
| Purchases of property and equipment | −177,000 | −66,000 | 0 | −171,000 | −913,039 | |
| Cash received from the sale of property and equipment | 40,000 | 98,000 | 2,000 | 6,000 | 21,550 | |
| Purchases of marketable securities | −16 | 0 | — | — | — | |
| Redemption of marketable securities | 17 | 0 | 25 | 5 | 10 | |
| Net cash provided by investing activities | 75,000 | 32,000 | 25 | −25 | 9 | |
| Proceeds from ATM offering, net of sales agent commission and fees | 3 | 3 | 13 | 17 | 17 | |
| Proceeds from issuance of common stock, warrants and pre-funded warrants, net of transaction costs | 28 | 11 | 0 | 23 | 0 | |
| Repayment of term loans | −5 | −4 | −2 | 0 | — | |
| Issuance of common stock upon exercise of warrants and pre-funded warrants, net | 0 | 18,000 | 0 | 5 | 0 | |
| Net cash provided by financing activities | 26 | 10 | 12 | 54 | 19 | |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 5 | −26 | −3 | −13 | −10 | |
| Cash paid for interest | 214,000 | 669,000 | 1 | 570,000 | 0 | |
| Lease liabilities arising from obtaining right-of-use assets | 2 | 1 | — | — | — |
Filings
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