On May 12, 2025 Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company developing a novel class of therapeutic biologics to selectively engage and modulate disease-specific T cells for the treatment of autoimmune disease and cancer, reported first quarter 2025 financial results (Press release, Cue Biopharma, MAY 12, 2025, View Source [SID1234652874]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
"We made notable and encouraging progress during the first quarter of 2025 and believe we are well positioned to further our corporate objectives," said Daniel Passeri, chief executive officer of Cue Biopharma. "We believe the strategic collaboration with Boehringer Ingelheim for CUE-501 combined with our capital raise, places us in a position of strength to advance CUE-401 toward the clinic while exploring additional portfolio optimization and partnering opportunities."
Upcoming Event
Novel Biologics Portfolio Virtual Event planned for May 15, 2025 at 11 AM ET: Cue Biopharma’s virtual event will feature two key opinion leaders (KOLs): Richard DiPaolo, PhD (Saint Louis University) and Andrew Cope, MD, PhD (Centre for Rheumatic Diseases, King’s College London). The event will highlight new preclinical data for CUE-401, as well as provide an overview of the CUE-500 program and include key updates on the CUE-100 series clinical oncology programs.
The live and archived virtual event will also be available in the News + Publications section of the Company’s website. The webcast will be archived for 30 days.First Quarter 2025 Financial Results
The Company reported revenue of $0.4 million and $1.7 million for the three months ended March 31, 2025 and 2024, respectively, related to the agreement with Ono Pharmaceutical, which was terminated in March 2025.
Research and development expenses were $8.5 million and $10.2 million for the three months ended March 31, 2025 and 2024, respectively. The decrease was primarily due to decreases in clinical trial costs, and employee compensation, which includes stock-based compensation.
General and administrative expenses were $4.2 million for both the three months ended March 31, 2025 and 2024.
As of March 31, 2025, the Company had $13.1 million in cash and cash equivalents. Subsequently, the Company received approximately $18 million in net proceeds in April 2025 from an underwritten public offering, and the Company received an upfront fee of $12 million pursuant to the Collaboration and License Agreement with Boehringer Ingelheim announced on April 14, 2025.
Cue Biopharma, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited, In thousands, except share and per share amounts)
Three Months Ended
March 31,
2025
2024
Collaboration revenue
$
421
$
1,717
Operating expenses:
General and administrative
4,173
4,186
Research and development
8,547
10,199
Total operating expenses
12,720
14,385
Loss from operations
(12,299
)
(12,668
)
Other income (expense):
Interest income
170
562
Interest expense
(128
)
(241
)
Total other income, net
42
321
Net loss
$
(12,257
)
$
(12,347
)
Comprehensive loss
$
(12,257
)
$
(12,347
)
Net loss per common share – basic and diluted
$
(0.17
)
$
(0.25
)
Weighted average common shares outstanding – basic and diluted
74,254,700
49,466,711