Cue Biopharma Reports Fourth Quarter and Full Year 2019 Financial Results and Recent Business Highlights

Extended cash runway with $33.3 million from at-the-market equity offerings in Q4a??19

Focused and effective execution of clinical development of CUE-101 as a Phase 1 monotherapy dose escalation and expansion trial in HNSCC

Immuno-STATa?? Platform for autoimmune disease featured in Merck presentation at the Antigen-Specific Immune Tolerance Drug Development Summit

Published paper on preclinical and translational data supporting the therapeutic potential of CUE-101 in HPV16-related malignancies in peer-reviewed journal Clinical Cancer Research

CAMBRIDGE, Mass., March 17, 2020 (GLOBE NEWSWIRE) -- Cue Biopharma, Inc. (NASDAQ: CUE), a clinical-stage biopharmaceutical company engineering a novel class of injectable biologics to selectively engage and modulate targeted T cells within the body, provided a business update for the fourth quarter and full year 2019.a??We continue to execute on our stated goals and objectives in a highly focused manner. The fourth quarter of 2019, as well as the beginning of 2020, has been marked by the successful opening of all 13 participating clinical centers and the associated enhancement of patient enrollment for our ongoing CUE-101 monotherapy Phase 1 trial,a?? saidA Daniel Passeri, chief executive officer of Cue Biopharma. Mr. Passeri added, a??Furthermore, we successfully accessed the capital markets in a highly effective and prudent manner through an At-the-Market (a??ATMa??) instrument with Stifel Nicolaus & Company, Inc. (a??Stifela??) raising $49M, net of commissions paid, A in the second half of the year through strategically placed blocks of shares with targeted fundamental institutional investors. As a result of our successful execution of clearly defined corporate initiatives, we are now well positioned to focus upon the next stages of our strategic corporate development plan.a??According to Anish Suri, Ph.D., president and chief scientific officer of Cue Biopharma, a??We continue to make significant progress across the R&D organization on many fronts including expanding our oncology pipeline assets, evolving our platform and generating key datasets to support application of our platform in autoimmune diseases. To the last point, we are very pleased to have Merck, our collaborator in autoimmune disease, recently present advances in the Immuno-STAT platform for selective modulation of pathologic T cells involved in autoimmune type 1 diabetes.a??Fourth-Quarter 2019 Financial Results The Company reported collaboration revenue ofA approximately $1.0 millionA andA $0.3 millionA for the three months endedA December 31, 2019A and 2018, respectively.
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