Cue Biopharma Announces Public Offering of Common Stock
September 26, 2024
Boston, MA
Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company specializing in therapeutic biologics, has announced the pricing of an underwritten public offering of common stock. The offering includes 11,564,401 shares of common stock and accompanying common stock warrants, as well as pre-funded warrants to certain investors. The combined public offering price is set at $0.50 per share for common stock and accompanying warrants, and $0.499 per pre-funded warrant and accompanying warrant. The aggregate gross proceeds of the offering are expected to be approximately $12.0 million, before deductions for underwriting discounts, commissions, and other expenses.
Each pre-funded warrant will have an exercise price of $0.001 per share, and will be immediately exercisable. The pre-funded warrants will expire once they have all been exercised in full. Common stock warrants will have an exercise price of $0.50 per share and will expire five years from the issuance date. The offering is scheduled to close on or around September 30, 2024, pending the satisfaction of customary closing conditions. All securities in the offering are being issued by Cue Biopharma.
This announcement marks a significant development for Cue Biopharma as it seeks to advance its therapeutic biologics and engage disease-specific T cells through its innovative approach. The proceeds from the offering will provide vital funding for the company’s continued research and development efforts, potentially leading to new treatments and advancements in the field of biopharmaceuticals.
How This Will Affect Me
As an individual, the public offering by Cue Biopharma may not have an immediate impact on you. However, if you are a shareholder or investor in the biopharmaceutical industry, this announcement could be of interest to you as it indicates the company’s efforts to raise capital for its research and development initiatives. It is always advisable to stay informed about developments in the biopharmaceutical sector if you have a financial stake or are interested in investing in innovative healthcare solutions.
How This Will Affect the World
The public offering by Cue Biopharma reflects the ongoing efforts within the biopharmaceutical industry to advance novel therapies and treatments for various diseases. As companies like Cue Biopharma continue to innovate and develop new biologics, there is the potential for significant advancements in healthcare that could benefit global populations. The funds raised through this offering may contribute to the development of groundbreaking therapies that have the potential to improve health outcomes and contribute to medical progress on a larger scale.
Conclusion
Overall, Cue Biopharma’s public offering of common stock is a noteworthy development in the field of biopharmaceuticals. The proceeds from the offering will support the company’s research and development efforts, leading to potential advancements in therapeutic biologics and disease-specific treatments. As the biopharmaceutical industry continues to evolve, such initiatives play a vital role in driving innovation and addressing unmet medical needs.
