Cue Biopharma(US:CUE) Globenewswire·2025-05-12 20:05Core Insights - Cue Biopharma announced a strategic collaboration and license agreement with Boehringer Ingelheim for CUE-501, which includes an upfront payment of $12 million and potential milestone payments of approximately $345 million [1] - The company raised gross proceeds of around $20 million in a follow-on capital raise [1] - Cue Biopharma regained worldwide rights for its lead autoimmune program, CUE-401, which has the potential to become a new standard of care for autoimmune and inflammatory diseases [1] Financial Performance - For the first quarter of 2025, Cue Biopharma reported revenue of $0.4 million, a decrease from $1.7 million in the same period of 2024, primarily due to the termination of the agreement with Ono Pharmaceutical [5] - Research and development expenses decreased to $8.5 million in Q1 2025 from $10.2 million in Q1 2024, attributed to lower clinical trial costs and employee compensation [6] - General and administrative expenses remained stable at $4.2 million for both Q1 2025 and Q1 2024 [6] Cash Position - As of March 31, 2025, the company had $13.1 million in cash and cash equivalents [7] - In April 2025, Cue Biopharma received approximately $18 million in net proceeds from an underwritten public offering [7] Upcoming Events - A virtual event is scheduled for May 15, 2025, featuring two key opinion leaders in immunology, which will highlight new preclinical data for CUE-401 and updates on the CUE-500 program [3][4]