InvestmentJul 9, 2026, 09:42 PM
Cue Biopharma Raises $50M in Private Placement
AI Summary
Cue Biopharma, Inc. announced a private placement agreement with a group of accredited investors, raising approximately $50.0 million in gross proceeds. The placement involved the sale of common stock and pre-funded warrants, led by Cormorant Asset Management. The company intends to use the net proceeds to further fund clinical development and for other general corporate purposes, with upcoming clinical milestones including Phase 2 CSU study data expected by the end of Q3 2026.
Key Highlights
- Secured approximately $50.0 million in gross proceeds from a private placement.
- Issued 1,418,071 shares of common stock at $33.21 per share.
- Issued pre-funded warrants for up to 87,500 shares at $33.209 per warrant.
- Private placement led by Cormorant Asset Management.
- Proceeds to fund clinical development and general corporate purposes.
- Expects Phase 2 CSU study data by end of Q3 2026.
Price Impact
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