$50M Private Placement Priced at $33.21, Led by Cormorant
CUE has more than doubled off its 52-week low of $4.971 on light trading volume (0.2× avg).
Summary
Cue Biopharma announced a $50 million private placement of 1.42 million shares at $33.21 per share, plus pre-funded warrants for 87,500 shares at $33.209. The pricing is at a modest discount to the last close of $36.77, reflecting strong demand from new institutional investors Cormorant Asset Management and Columbia Threadneedle. This follows a series of capital raises, including a $28 million placement in May and a $300 million shelf registration, as the company funds clinical development. Proceeds will support the lead anti-IgE asset and upcoming Phase 2 data from the Ascendant Health study in China expected by end of Q3 2026. The deal is expected to close July 13, pending customary conditions.
At the time of this announcement, CUE was trading at $36.77 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $153.4M. The 52-week trading range was $4.97 to $41.42. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.