Core Insights - Cue Biopharma, Inc. is making significant progress in its clinical trials, particularly with CUE-101, which shows potential to set a new standard of care for HPV+ head and neck squamous cell carcinoma (HNSCC) patients [2] - The company reported a collaboration revenue increase to $3.0 million for Q2 2025, up from $2.7 million in Q2 2024, attributed to the timing of revenue from a collaboration with Boehringer Ingelheim [4] - Research and development expenses decreased to $7.9 million in Q2 2025 from $9.5 million in Q2 2024, mainly due to lower clinical trial costs and employee compensation [5] Business Highlights - Cue Biopharma received FDA feedback on its Pre-IND Briefing Document, reinforcing plans to advance the IND submission for CUE-401 targeting autoimmune diseases [7] - The company announced a strategic collaboration with Boehringer Ingelheim for CUE-501, which includes an upfront payment of $12 million and potential milestone payments of approximately $345 million [7] - A public offering raised around $20 million, enhancing the company's financial position [7] Clinical Trial Updates - The ongoing Phase 1 trial of CUE-101 in combination with pembrolizumab (KEYTRUDA) reported a 50% overall response rate and a 12-month overall survival rate of 88% [8] - Median overall survival for patients in the trial was reported at 32 months, indicating promising efficacy for CUE-101 [8] Financial Performance - For the three months ended June 30, 2025, the company reported a net loss of $8.5 million, an improvement from a net loss of $10.2 million in the same period of 2024 [9] - Total operating expenses decreased to $11.6 million in Q2 2025 from $13.0 million in Q2 2024, reflecting cost management efforts [9] - Cash and cash equivalents increased to $27.5 million as of June 30, 2025, compared to $22.5 million at the end of June 2024 [11]