Cue Biopharma, Inc. has entered into a securities purchase agreement with accredited investors for a private placement expected to generate gross proceeds of approximately $50.0 million. The financing, led by Cormorant Asset Management with participation from Columbia Threadneedle Investments, is intended to fund clinical development and for general corporate purposes.
Key Details
- Financing Terms: The private placement includes the sale of 1,418,071 shares of common stock at $33.21 per share and pre-funded warrants to purchase 87,500 shares of common stock at a price of $33.209 per warrant.
- Timeline & Proceeds: The transaction is expected to close on or about July 13, 2026, with gross proceeds of approximately $50.0 million.
- Additional Agreements: The pre-funded warrants have an exercise price of $0.001 per share. The company also entered into a registration rights agreement, agreeing to file a resale registration statement for the securities within 30 days of closing.
- Equity Grants: Concurrently, the company granted an aggregate of 1,064,492 restricted stock units (RSUs) to employees and executive officers, including 655,074 RSUs to CEO Shao-Lee Lin, under its 2026 Stock Incentive Plan.