BOSTON, April 22, 2026 (GLOBE NEWSWIRE) -- Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company developing a novel class of therapeutic biologics to selectively engage and modulate disease-specific T cells for the treatment of autoimmune and inflammatory diseases, today announced that it will implement a 1-for-30 reverse stock split of the issued shares of the company's common stock, effective at 5:00 p.m. Eastern Time on April 23, 2026.
The reverse stock split was approved by the company's stockholders at the company's 2026 Annual Meeting of Stockholders held on April 13, 2026 (the "Annual Meeting"), with the final ratio subsequently determined by the company's Board of Directors. One of the primary goals of the reverse stock split is to increase the per-share market price of the company's common stock to enable the company to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
The company's common stock is expected to begin trading on a split-adjusted basis when the markets open on April 24, 2026 under the company's existing ticker "CUE" with the new CUSIP number 22978P205.
At the effective time of the reverse stock split, every 30 shares of the company's issued and outstanding common stock will be automatically reclassified and combined into one share of common stock. This will reduce the number of outstanding shares of Cue Biopharma's common stock from approximately 97.7 million shares to approximately 3.3 million shares. The reverse stock split will not change the number of authorized shares of the company's common stock or the par value of the common stock. All outstanding stock options and warrants to purchase common stock will be adjusted to proportionately reduce the number of shares of common stock issuable upon exercise of such stock options and warrants and to proportionately increase the exercise price of such stock options and warrants, pursuant to the terms of each security and as described in the company's proxy statement for the Annual Meeting as filed with the Securities and Exchange Commission on March 16, 2026 (as supplemented, the "Proxy Statement"). In addition, the total number of shares of common stock available for future grants under the Company's equity incentive plans will be adjusted and proportionately decreased, in accordance with the respective terms of such plans and as described in the Proxy Statement.
No fractional shares will be issued if, as a result of the reverse stock split, a stockholder would otherwise become entitled to a fractional share because the number of shares of common stock they hold before the reverse stock split is not evenly divisible by the reverse stock split ratio. Instead, each such stockholder will be entitled to receive a cash payment in lieu of a fractional share.
Computershare Trust Company, N.A. is acting as the exchange agent and transfer agent for the reverse stock split. Stockholders holding their shares electronically are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, brokerage firm or other nominee will have their positions adjusted to reflect the reverse stock split and will receive payment for any fractional shares in accordance with the processes at their respective bank, brokerage firm or nominee. Additional information regarding the reverse stock split can be found in the Proxy Statement.
About Cue Biopharma
Cue Biopharma, a clinical-stage biopharmaceutical company, is developing a novel class of injectable biologics to selectively engage and modulate disease-specific T cells directly within the patient's body. The company's proprietary platform, Immuno-STAT (Selective Targeting and Alteration of T cells) and biologics are designed to harness the curative potential of the body's intrinsic immune system without the adverse effects of broad systemic immune modulation. CUE-401, the company's lead autoimmune asset, is designed to act mechanistically both as a regulator of proinflammatory mechanisms, and as a master switch for regulatory T cell (Treg) differentiation to induce tolerance. It is a highly innovative, tolerogenic bifunctional molecule combining a TGF-beta breathing-mask moiety with Cue Biopharma's clinically validated interleukin 2 (IL-2) mutein in a single injectable biologic.
Headquartered in Boston, Massachusetts, we are led by an experienced management team with deep expertise in immunology and protein engineering as well as the design and clinical development of protein biologics.
For more information please visit www.cuebiopharma.com and follow us on X and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, those regarding: the reverse stock split and the timing thereof; the impact of the reverse stock split on stockholders and other securityholders; the potential for the company to increase its share price and regain compliance with the Nasdaq continued listing rules; the company's belief regarding the potential benefits and applications of its drug candidates and programs, including the company's plans to further advance its differentiating Immuno-STATplatform and lead autoimmune asset, CUE-401; and the company's business strategies, plans and prospects. Forward-looking statements, which are based on certain assumptions and describe the company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely," "promise" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the company's ability to maintain its collaboration with ImmunoScape; the company's limited operating history, limited cash and a history of losses; the company's ability to obtain adequate financing to fund its business operations in the near term and successfully remediate its current "going concern" determination that it does not have sufficient capital on hand to continue operations beyond the next twelve months; the company's ability to achieve profitability; potential setbacks in the company's research and development efforts including negative or inconclusive results from its preclinical studies or clinical trials or the company's ability to replicate in later clinical trials positive results found in preclinical studies and early-stage clinical trials of its product candidates; serious and unexpected drug-related side effects or other safety issues experienced by participants in clinical trials; its ability to secure required U.S. Food and Drug Administration (FDA) or other governmental approvals for its product candidates and the breadth of any approved indication; adverse effects caused by public health pandemics, including possible effects on the company's operations and clinical trials; delays and changes in regulatory requirements, policy and guidelines including potential delays in submitting required regulatory applications to the FDA; the company's reliance on licensors, collaborators, contract research organizations, suppliers and other business partners; the company's ability to obtain adequate financing to fund its business operations in the future and ability to continue as a going concern; the company's ability to maintain and enforce necessary patent and other intellectual property protection; competitive factors; general economic and market conditions and the other risks and uncertainties described in the Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations sections of the company's most recently filed Annual Report on Form 10-K and any subsequently filed Quarterly Report(s) on Form 10-Q. Any forward-looking statement made by the company in this press release is based only on information currently available to the company and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Investor Contact
Marie Campinell
Senior Director, Corporate Communications
Cue Biopharma, Inc.
mcampinell@cuebio.com
Media Contact
Jonathan Pappas
LifeSci Communications
jpappas@lifescicomms.com
