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Cue Biopharma, Inc.

CUE NASDAQ Categories PDF
Healthcare · Biotechnology · United States · Updated May 11, 1:55pm
$31.25
Price
$82.1M
Market Cap
41
Employees
2.39
Beta
Lucinda Warren
CEO
Business Description

Cue Biopharma, Inc., a clinical-stage biopharmaceutical company, develops biologic drugs for the selective modulation of the human immune system to treat a range of cancers, chronic infectious diseases, and autoimmune disorders. Its lead drug candidate is CUE-101, a fusion protein biologic that is in Phase 1b clinical trial designed to target and activate antigen-specific T cells for human papilloma virus-driven cancers. The company offers CUE-102, a fusion protein biologic to target and activate antigen-specific T cells to fight cancers; CUE-103 a CUE-100 series Immuno-STAT targeting the KRAS G12V mutation, including colorectal carcinoma, lung cancer, and pancreatic cancer; CUE-200 that focuses on cell surface receptors, including CD80 and/or 4-1BBL to address T cell exhaustion associated with chronic infections; and CUE-300 and CUE-400 framework to target various autoimmune diseases. Cue Biopharma, Inc. has collaboration agreements with Merck Sharp & Dohme Corp. for the research and development of its proprietary biologics that target various autoimmune disease indications; LG Chem Life Sciences for the development of Immuno-STATs focused on the field of oncology; and Albert Einstein College of Medicine. The company was formerly known as Imagen Biopharma, Inc. and changed its name to Cue Biopharma, Inc. in October 2016. Cue Biopharma, Inc. was incorporated in 2014 and is headquartered in Cambridge, Massachusetts.

Business History
Price Overview
Last updated: May 11, 2026 1:55pm (just now)
$31.25
-3.75 (-10.71%)
Day Range
$29.92 – $33.15
52-Week Range
$4.98 – $41.42
50-Day MA
$13.74
200-Day MA
$16.82
Volume
176,763.35
Analyst Price Targets
Low $2.00
Consensus $4.33
High $7.00
(4 analysts)
Share Structure
Outstanding 2,627,928.00
Float 2,607,636.00
Free Float 99.2%
High free float — 99.2% of shares trade freely, ~0.8% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Small absolute float (2.6M shares) — even with a decent free float %, volume can be thin. Check average daily volume before sizing a position.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-3.72
Stock Price: $31.25
EPS (Diluted): -8.40
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
1.09
Stock Price: $31.25
Total Equity: $26.43M
Shares: 3,157,726
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
-2.57
Market Cap: $82.12M
Total Debt: $0.00
Cash: $27.14M
EBITDA: -$23.04M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$6.0M
Market Cap: $82.12M
Total Debt: $0.00
Cash: $27.14M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
87.3%
Gross Profit: $23.99M
Revenue: $27.47M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-96.7%
Operating Income: -$26.55M
Revenue: $27.47M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-96.9%
Net Income: -$26.60M
Revenue: $27.47M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
-165.2%
Net Income: -$26.60M
Total Equity: $26.43M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-86.6%
Operating Income: -$26.55M
Tax Rate: -1.9%
Equity: $26.43M
Total Debt: $0.00
Cash: $27.14M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
2.74
Current Assets: $36.98M
Current Liabilities: $13.49M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $26.43M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$8.70
Revenue: $27.47M
Shares: 3,157,726
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$8.37
Total Equity: $26.43M
Shares: 3,157,726
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$-6.92
Operating CF: -$21.69M
CapEx: -$177,000
Shares: 3,157,726
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $31.25
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$26.60M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CUE against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $14.9M $1.2M $5.5M $9.3M $27.5M
Cost of Revenue -$1.8M $0 $38.1M $0 $3.5M
Gross Profit $16.7M $1.2M -$32.6M $9.3M $24.0M
Operating Expenses $60.4M $54.5M $19.5M $50.8M $50.5M
Operating Income -$43.7M -$53.2M -$52.1M -$41.5M -$26.6M
Net Income -$44.2M -$53.0M -$50.7M -$40.7M -$26.6M
EBITDA -$45.4M -$50.5M -$46.1M -$37.5M -$23.0M
EPS $-42.30 $-44.70 $-33.30 $-21.60 $-8.40
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $64.4M $51.6M $48.5M $22.5M $27.1M
Total Current Assets $68.5M $77.2M $51.5M $25.1M $37.0M
Total Assets $83.4M $91.3M $61.5M $32.2M $42.2M
Current Liabilities $12.8M $11.5M $17.1M $13.7M $13.5M
Long-Term Debt $0 $8.0M $4.2M $0 $0
Total Liabilities $17.9M $25.6M $24.4M $14.7M $15.8M
Total Equity $65.5M $65.7M $37.1M $17.5M $26.4M
Retained Earnings -$197.4M -$250.5M -$301.2M -$341.9M -$368.5M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$38.8M -$41.8M -$40.0M -$36.3M -$21.7M
Capital Expenditure $-913,039 $-171,000 $0 $-66,000 $-177,000
Free Cash Flow -$39.8M -$42.0M -$40.0M -$36.4M -$21.9M
Acquisitions (net) $0 $0 $0 $0 $40,000
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $0 $0 $0 $0
Net Change in Cash -$10.5M -$12.8M -$3.1M -$26.1M $4.7M
Analyst Estimates (Annual)
Metric 2026 2027 2028 2029
Revenue $1.0M
$1.0M – $1.0M
 $1.0M
$1.0M – $1.0M
 $1.0M
$1.0M – $1.0M
 $1.0M
$1.0M – $1.0M
EBITDA $-967,778
$-967,778 – $-967,778
 $-967,778
$-967,778 – $-967,778
 $-967,778
$-967,778 – $-967,778
 $-967,778
$-967,778 – $-967,778
Net Income -$54.9M
-$54.9M – -$54.9M
 -$56.8M
-$56.8M – -$56.8M
 -$48.3M
-$48.3M – -$48.3M
 -$49.3M
-$49.3M – -$49.3M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth -91.7% +341.0% +69.2% +195.7%
Gross Profit Growth -92.6% -2,719.0% +128.5% +158.3%
Operating Income Growth -21.8% +2.0% +20.4% +36.0%
Net Income Growth -20.0% +4.3% +19.8% +34.6%
EBITDA Growth -11.1% +8.8% +18.5% +38.6%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-04-30 Lin Shao-Lee 0.00 $0.00 $0
2026-05-03 Lin Shao-Lee A-Award 655,074.00 $30.42 $19.9M
2026-05-03 Lin Shao-Lee A-Award 327,537.00 $0.00 $0
2026-04-09 Sandercock Colin A-Award 200,000.00 $0.29 $58,000
2026-04-09 Warren Lucinda A-Award 250,000.00 $0.29 $72,500
2026-04-09 Baker Daniel G. A-Award 100,000.00 $0.29 $29,000
2026-01-02 Kiener Peter A A-Award 24,400.00 $0.34 $8,296
2026-01-02 Broadfoot Jill Marie A-Award 24,400.00 $0.34 $8,296
2026-01-02 Garzone Pamela A-Award 24,400.00 $0.34 $8,296
2026-01-02 Morich Frank A-Award 24,400.00 $0.34 $8,296
2026-01-02 Verheyen Patrick A-Award 24,400.00 $0.34 $8,296
2026-01-02 Sarraf Pasha A-Award 24,400.00 $0.34 $8,296
2025-12-30 Sarraf Pasha P-Purchase 77,417.00 $0.30 $23,349
2025-12-30 Sarraf Pasha P-Purchase 78,116.00 $0.31 $24,325
2025-12-30 Sarraf Pasha P-Purchase 86,947.00 $0.32 $27,597
2025-12-30 Sarraf Pasha P-Purchase 77,148.00 $0.30 $23,168
2025-12-30 Sarraf Pasha P-Purchase 4,229.00 $0.31 $1,308
2025-12-03 Sandercock Colin A-Award 70,000.00 $0.70 $49,000
2025-09-26 Sandercock Colin A-Award 30,000.00 $0.70 $21,000
2025-09-29 Warren Lucinda A-Award 125,000.00 $0.72 $90,000
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27