Cue Biopharma, Inc. CUE
We are a clinical-stage biopharmaceutical company developing a novel class of injectable therapeutics engineered to selectively engage and modulate disease-specific T cells for the treatment of autoimmune and inflammatory diseases. Unlike conventional approaches that broadly activate the immune system, our Immuno-STAT® platform is designed to selectively modulate disease-relevant T cells, enhancing efficacy while minimizing off-target effects. We believe our Immuno-STAT platform holds the promise of producing drug product candidates with the potential of establishing new standards of care in the treatment of autoimmune and inflammatory diseases. Our programs include, but are not limited to, drug product candidates designed to:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.5M | $9.3M | $5.5M | $1.2M | $14.9M | $3.2M | $3.5M | $1.1M | — | — |
| R&D | $37.7M | $36.3M | $40.8M | $38.6M | $41.3M | $33.5M | $27.5M | $28.5M | $18.9M | — |
| SG&A | $16.2M | $14.6M | $16.7M | $16.2M | $17.3M | $14.7M | $12.7M | $11.3M | $4.3M | — |
| Total operating expenses | $54.0M | $50.8M | $57.6M | $54.5M | $58.7M | $48.2M | $40.2M | $39.8M | $23.2M | — |
| Operating income | -$26.6M | -$41.5M | -$52.1M | -$53.2M | -$43.7M | -$45.0M | -$36.8M | -$38.7M | -$23.2M | — |
| Interest expense | $100.0K | $100.0K | $100.0K | $109.0K | $0 | — | — | — | — | — |
| Pre-tax income | -$26.1M | -$40.7M | — | -$53.0M | -$43.7M | -$44.6M | -$36.3M | -$38.2M | -$23.2M | — |
| Income tax | $500.0K | $0 | — | $0 | $495.0K | $206.2K | $412.5K | $400.0K | — | — |
| Net income | -$26.6M | -$40.7M | -$50.7M | -$53.0M | -$44.2M | -$44.8M | -$36.7M | -$39.0M | -$23.2M | — |
| EPS, basic | -0.28 | -0.72 | -1.11 | -1.49 | -1.41 | — | — | — | — | — |
| EPS, diluted | -0.28 | -0.72 | -1.11 | -1.49 | -1.41 | -1.56 | -1.66 | -1.94 | -2.16 | — |
| Shares, diluted (wtd. avg.) | 94.7M | 56.3M | 45.8M | 35.6M | 31.3M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $27.1M | $22.5M | $48.5M | $51.6M | $64.4M | $74.9M | $44.3M | $20.8M | — | — |
| Short-term investments | — | — | $0 | $24.7M | $0 | $10.0M | $15.1M | $18.4M | $0 | — |
| Receivables | $5.5M | $945.0K | $1.7M | $57.0K | $3.1M | $1.4M | $754.9K | — | — | — |
| Total current assets | $37.0M | $25.1M | $51.5M | $77.2M | $68.5M | $87.5M | $61.0M | $40.6M | $65.1M | — |
| Property, plant and equipment | $241.0K | $471.0K | $795.0K | $1.5M | $2.1M | $2.1M | $1.8M | $2.8M | $1.7M | — |
| Total assets | $42.2M | $32.2M | $61.5M | $91.3M | $83.4M | $99.5M | $71.6M | $45.4M | $67.0M | — |
| Accounts payable | $3.9M | $2.8M | $3.5M | $2.7M | $2.6M | $2.1M | $882.7K | $2.0M | $1.7M | — |
| Short-term debt | — | $37.0K | $4.0M | $2.0M | — | — | — | — | — | — |
| Total current liabilities | $13.5M | $13.7M | $17.1M | $11.5M | $12.8M | $16.3M | $11.7M | $6.2M | $5.3M | — |
| Long-term debt | — | $0 | $4.2M | $8.0M | $0 | — | — | — | — | — |
| Total liabilities | $15.8M | $14.7M | $24.4M | $25.6M | $17.9M | $20.6M | $17.0M | $11.4M | $5.3M | — |
| Retained earnings | -$368.5M | -$341.9M | -$301.2M | -$250.5M | -$197.4M | -$153.3M | -$108.5M | -$71.8M | -$32.8M | — |
| Total equity | $26.4M | $17.5M | $37.1M | $65.7M | $65.5M | $78.9M | $54.6M | $34.0M | $61.6M | $15.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$21.7M | -$36.3M | -$40.0M | -$41.8M | -$38.8M | -$32.5M | -$30.8M | -$26.4M | -$12.1M | — |
| Depreciation and amortisation | $336.0K | $385.0K | $545.0K | $831.0K | $909.1K | $780.5K | $799.1K | $760.0K | $419.6K | — |
| Stock-based compensation | $4.7M | $6.8M | $8.2M | $9.5M | $11.5M | $10.5M | $6.5M | $7.2M | $2.8M | — |
| Capital expenditure | $177.0K | $66.0K | $0 | $171.0K | $913.0K | $595.3K | $46.4K | $1.9M | $1.0M | — |
| Investing cash flow | $75.0K | $32.0K | $25.0M | -$24.6M | $9.1M | $4.5M | $3.4M | -$20.4M | -$1.2M | — |
| Financing cash flow | $26.3M | $10.2M | $11.9M | $53.7M | $19.2M | $58.6M | $50.8M | $4.2M | $62.0M | — |
| Buybacks | — | — | $0 | $200.0K | $750.1K | $271.1K | $91.0K | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-108287.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $1.1M | $3.5M | $3.2M | $14.9M | $1.2M | $5.5M | $9.3M | $27.5M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | — | -$23.2M | -$39.0M | -$36.7M | -$44.8M | -$44.2M | -$53.0M | -$50.7M | -$40.7M | -$26.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Officer or director change Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Item 5.02
- Other event Item 8.01
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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