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.
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