Cue Biopharma Surges 51% Premarket on Positive Phase 2 CSU Data
CUE has more than doubled off its 52-week low of $4.971 on elevated volume (2.2× avg).
Summary
Cue Biopharma's stock jumped 51% premarket to $56.00 after the company reported positive Phase 2 results for CUE-221 in chronic spontaneous urticaria (CSU). The trial, conducted in China by Genesis Life Sciences, met its primary endpoint and a key secondary endpoint with high statistical significance, with a favorable safety profile. This follows yesterday's initial announcement of the topline data; today's move reflects the market's first full trading session reaction. The company is now planning rapid initiation of a Phase 2b/3 study and advancing a Phase 2 food allergy study. With a market cap around $269 million and the stock near its 52-week high, the data significantly de-risks the CUE-221 program and supports the company's pivot toward later-stage development.
At the time of this announcement, CUE was trading at $61.10 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $269.1M. The 52-week trading range was $4.97 to $45.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.