Cue Biopharma Sets $12 Million Public Offering to Fund Growth
Cue Biopharma Announces $12 Million Public Offering
BOSTON — Cue Biopharma, Inc. (NASDAQ: CUE), a clinical-stage biopharmaceutical firm, has announced the pricing of its underwritten public offering aimed at raising funds to propel its innovative research. The company plans to offer 11,564,401 shares of its common stock along with warrants for 2,891,100 additional shares. Furthermore, for specific investors, pre-funded warrants for purchasing up to 12,435,599 shares will also be included in the offering.
Details of the Offering
The combined public offering price for each share of common stock and corresponding common stock warrant is set at $0.50. In contrast, the price for each pre-funded warrant, along with its accompanying common stock warrant, is disclosed at $0.499. The estimated gross proceeds from this offering are approximately $12.0 million, excluding underwriting discounts and commissions, as well as other related expenses.
Warrants and Exercise Prices
Each pre-funded warrant carries an exercise price of $0.001 per share. These warrants are immediately exercisable and can be exercised until all are utilized. Common stock warrants feature an exercise price of $0.50 per share and are also immediately exercisable, with a five-year expiration period from their issuance date.
Management of the Offering
Oppenheimer & Co. Inc. serves as the sole book-running manager, while Newbridge Securities Corporation is designated as the co-manager for the offering. A shelf registration statement concerning these securities was filed with the Securities and Exchange Commission and became effective earlier this year.
Registration Details
Investors can access the prospectus supplement detailing the terms of the offering on the SEC’s website. This offering is conducted only through the official prospectus documents associated with the registration statement.
About Cue Biopharma
Cue Biopharma focuses on developing a unique class of injectable biologics designed to interact with and modulate disease-specific T cells effectively. Utilizing its proprietary platform known as Immuno-STAT™ (Selective Targeting and Alteration of T cells), the company aims to enhance the intrinsic capabilities of the immune system, minimizing adverse effects typically associated with broader immune modulation.
Management Expertise
With its headquarters in Boston, Cue Biopharma is helmed by a capable management team and an independent Board of Directors possessing extensive knowledge in immunology and immuno-oncology. This depth of experience is critical as the company continues to design and develop its biologics through clinical trials.
Investor Relations and Contact Information
For inquiries regarding investment opportunities, investors may reach out to Marie Campinell, Senior Director of Corporate Communications at Cue Biopharma. She can be contacted via email.
Media Queries
For media-related inquiries, Jonathan Pappas at LifeSci Communications is available for questions and can be contacted directly via email.
Frequently Asked Questions
What is the purpose of the public offering by Cue Biopharma?
The public offering is intended to raise funds to support Cue Biopharma's innovative research and development of new biologics that modulate disease-specific T cells.
How many shares are offered in this public offering?
Cue Biopharma is offering a total of 11,564,401 shares along with additional warrants for investors.
What is the price for the common stock and warrants?
The combined offering price for each share of common stock and the associated warrant is set at $0.50.
Who is managing the public offering?
Oppenheimer & Co. Inc. is acting as the sole book-running manager, with Newbridge Securities Corporation as the co-manager for the offering.
What makes Cue Biopharma's platform unique?
The Immuno-STAT™ platform allows for the selective targeting and modulation of T cells within the patient's body, harnessing the immune system’s natural capabilities while minimizing side effects compared to traditional methods.
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