🔴 Cue Biopharma is trading 6.1% down today after pricing $50M private placement at a discount

Cue Biopharma is trading 6.1% down at $34.55 after pricing a $50 million private placement at a discount to its recent market value.

• The offering is priced at approximately $33.21 per share, representing roughly one-third of the company's total market capitalization and raising significant dilution concerns.
• Led by Cormorant Asset Management, the deal is expected to close around July 13.
• Shares are facing additional downward pressure alongside a broader decline in the biotechnology sector.