Cue Biopharma (CUE) has entered into a definitive securities purchase agreement to raise approximately $50.0M in gross proceeds through a private placement with a group of accredited institutional investors.
The financing includes the issuance of 1.42M shares of common stock at $33.21 per share.
Additionally, in lieu of common stock, certain investors will receive pre-funded warrants to purchase up to 87.5K shares at $33.209 per warrant.
The warrants carry an exercise price of $0.001 per share, are immediately exercisable, and do not expire.
The transaction is expected to close on or about July 13, 2026, pending customary closing conditions.
The oversubscribed private placement was led by Cormorant Asset Management, with additional participation from prominent new investment funds including Columbia Threadneedle Investments.
Cue Biopharma intends to deploy the net proceeds to advance its clinical development pipeline of functional cures for immunological disorders and for general corporate purposes.
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