Plus   Neg

This Day That Year: Cue Biopharma


Shares of Cue Biopharma Inc. (CUE) are down nearly 74% from their 52-week high of $17.99 recorded on March 14, 2018.

It was on this day last year, i.e. on January 2, 2018, that Cue Biopharma debuted on the NASDAQ Capital Market by setting a public offering at $7.50 per share.

Cue Biopharma is focused on developing immunotherapeutics through its Immuno-STAT Biologics platform. The Immuno-STAT biologics are designed to work by engaging and modulating the activity of disease-associated T cells in the patient's body, with the goal of offering significant therapeutic benefits with minimal or no unwanted side effects.

The lead candidate is Cue-101, which targets human papillomavirus (HPV)-associated cancers like head & neck cancer, and cervical cancer.

In the U.S., about more than 30,000 people are diagnosed with cancer caused by HPV infection every year, according to reports.

The Company expects to file an IND, seeking approval to commence phase I trial for Cue-101 in HPV-associated cancers, in the first quarter of 2019.

As recently as November 2018, Cue Biopharma entered into collaboration with LG Chem Life Sciences, the life sciences division of LG Chem Ltd. This collaboration entitles LG Chem with the rights to develop and commercialize CUE-101 in Asia as well as Immuno-STAT biologics that target T cells against two additional cancer antigens.

Also in Cue Biopharma's pipeline are 4 other Immuno-STAT biologics namely, Cue-102; Cue-103; CUE-201; and CUE-301 - with the first three under drug optimization stage, and the last one under discovery stage.

Cue-102 and Cue-103 are for immune-oncology indications.

Cue-102 is designed to target Wilms' Tumor 1 (WT1) antigen that is over-expressed in a number of cancers, including solid tumors and hematologic malignancies. The target for Cue-103 is yet to be disclosed.

CUE-201 is intended for chronic infectious disease, and CUE-301 is for autoimmune diseases.

Cue Biopharma has an agreement with Merck, valued at $374 million that was signed in November 2017, to develop Immuno-STATs for treating particular autoimmune diseases. Merck's exclusivity period on Immuno-STATs in all areas of autoimmune disease (referred to as AI-STATs) expires on December 14, 2019. After the end-date, Cue Biopharma will work exclusively with Merck to continue to develop product candidates targeting certain autoimmune disease indications specified under the agreement.

Key Numbers:

In the nine months ended September 30, 2018, net loss was $27.36 million or $1.36 per share on collaboration revenue of $812 thousand. This compared with a net loss of $12.79 million or $1.20 per share on nil collaboration revenue in the year-ago period.

The Company ended September 30, 2018, with zero debt, $39 million in cash, and 20.13 million shares outstanding.

Shares of Cue Biopharma have traded in a range of $4.16 to $17.99 over the last 1 year. The stock closed Monday's (Dec.31, 2018) trading at $4.70, up 1.29%.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT