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Cue Biopharma Q1 2025 Earnings Report
Cue Biopharma reported a decrease in collaboration revenue and an increase in net loss for Q1 2025, while also detailing new strategic collaborations and a public offering.
Key Takeaways
Cue Biopharma, Inc. experienced a decrease in collaboration revenue and an increase in net loss for the first quarter of 2025 compared to the same period last year. The company reported a net loss of $12.257 million and collaboration revenue of $0.421 million. Despite the losses, the company secured significant funding through a public offering and a new collaboration agreement with Boehringer Ingelheim International GmbH, which are expected to fund operations into Q2 2026.
Collaboration revenue decreased by $1.3 million to $0.421 million in Q1 2025, primarily due to the termination of the Ono Collaboration and Option Agreement.
Net loss for Q1 2025 was $12.257 million, a slight decrease from $12.347 million in Q1 2024.
Research and development expenses decreased by $1.7 million to $8.547 million, mainly due to lower clinical trial costs and employee compensation.
The company secured approximately $18.0 million in net proceeds from a public offering and an upfront payment of $12.0 million from a new collaboration agreement with Boehringer Ingelheim International GmbH in April 2025, extending its cash runway into Q2 2026.
Cue Biopharma
Cue Biopharma
Cue Biopharma Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
Cue Biopharma anticipates increased expenses due to ongoing research and development, new clinical trials, and operating as a public company. The company expects to finance future cash needs through equity offerings, collaborations, and strategic alliances, but acknowledges substantial doubt about its ability to continue as a going concern without additional funding.
Positive Outlook
- Continued preclinical development of CUE-401 and CUE-500 series (excluding CUE-501, which has been licensed to BI).
- Assessment of maturing clinical data for CUE-100 series (CUE-101 and CUE-102).
- Leveraging programs, including autoimmune programs, to advance drug product candidates into preclinical and clinical development.
- Seeking regulatory approvals for successful clinical trials.
- Establishing sales, marketing, medical affairs, and distribution infrastructure for commercialization.
Challenges Ahead
- Need to raise additional capital to fund future operations and remain a going concern.
- Volatility in capital markets and general economic conditions may hinder fundraising efforts.
- Potential requirement to delay, reduce, or eliminate product development or commercialization efforts if unable to raise sufficient funds.
- Risk of dilution to current stockholders if additional capital is raised through equity offerings.
- Potential for new investors to demand rights, preferences, or privileges senior to existing common stockholders.