Cue Biopharma Raises $50 Million in Private Placement

Cue Biopharma, Inc. entered into a securities purchase agreement with accredited investors to generate approximately $50 million in gross proceeds. Led by Cormorant Asset Management with participation from Columbia Threadneedle Investments, the private placement consists of 1,418,071 shares of common stock and pre-funded warrants. The offering is expected to close around July 13, 2026.

The company intends to use the net proceeds for general corporate purposes and clinical development. A primary focus is the upcoming Phase 2 study conducted by Ascendant Health in China, with data results expected by the end of the third quarter of 2026.

Following the announcement, the company's stock price rose to $36.51 in Thursday's closing trade. Chief Executive Officer Shao-Lee Lin stated that the company looks forward to its clinical milestones and the commitment of biotech investors to support the advancement of its portfolio targeting functional cures for immunological disorders.