**Cue Biopharma, Inc. Reports Fiscal Year 2025 Financial Results and Provides Business Update**

Cue Biopharma, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the fiscal year ended December 31, 2025. The company reported collaboration revenue of $27.5 million, a significant increase compared to the $9.3 million reported in 2024. This increase is primarily attributed to revenue recognized from the Boehringer Ingelheim International GmbH (BI) collaboration and license agreement executed in April 2025 and the ImmunoScape Pte. Ltd. (IMSCP) collaboration and license agreement executed in November 2025. The company's net loss for the year was $26.6 million, a decrease from the $40.7 million net loss reported in the previous fiscal year.

Research and development expenses for 2025 totaled $37.7 million, compared to $36.3 million in 2024. This increase was primarily due to acquired in-process research and development costs related to the IMSCP investment of $3.9 million, an increase in manufacturing of $3.4 million for CUE-401, and an increase in license fees of $1.5 million payable to Einstein in connection with the BI and IMSCP agreements. These increases were partially offset by a decrease in clinical trial costs of $3.4 million for the CUE-100 series, a decrease in employee compensation of $3.4 million, a decrease in lab costs of $1.0 million, and a decrease in facilities costs of $0.2 million. General and administrative expenses increased to $16.2 million in 2025 from $14.6 million in 2024, primarily due to an increase in professional fees of $2.0 million and an increase in severance expense of $0.8 million, partially offset by a decrease in employee compensation of $1.1 million.

Key operational developments included the strategic focus on autoimmune programs, the BI collaboration for CUE-501, and the IMSCP collaboration for the CUE-100 series. The company regained worldwide development and commercialization rights for CUE-401, which had previously been licensed to Ono Pharmaceutical. As of December 31, 2025, Cue Biopharma had 29 full-time employees.

Looking ahead, Cue Biopharma anticipates filing an Investigational New Drug (IND) application for CUE-401 in the second quarter of 2026 and expects to receive human safety data starting in the second half of 2026. The company believes its existing cash and cash equivalents of $27.1 million as of December 31, 2025, will be sufficient to fund operations into the first quarter of 2027. However, the company acknowledges the need to raise substantial additional capital to fund future operations and continue as a going concern.

About Cue Biopharma, Inc.

Cue Biopharma, Inc. develops precision immunotherapies targeting T cells to treat cancer and autoimmune diseases. Its proprietary Immuno-STAT platform selectively modulates disease-relevant T cells, aiming to restore immune balance. The company’s core programs include autoimmune, autoimmune cell depletion, and oncology candidates, with a focus on personalized, targeted biologics designed to improve efficacy and safety over traditional therapies.

This description was generated via AI from an annual report. Updated 8 months ago.

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