Cue Biopharma Posts $24.14 Q2 Loss Per Share
CUE has more than doubled off its 52-week low of $4.971.
Summary
Cue Biopharma reported a Q2 loss of $24.14 per share, a massive figure relative to its $31 stock price and $143M market cap. The loss was driven by one-time charges from the CUE-221 license deal, as disclosed in the 8-K filed earlier today. The company ended the quarter with only $17.4M in cash, raising going-concern risks. This follows a $50M private placement in July and a reverse split in April. Q2 revenue more than doubled to $7.88M, while net loss widened on one-time charges.
At the time of this announcement, CUE was trading at $31.03 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $143.7M. The 52-week trading range was $4.97 to $45.50. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.