Cue Biopharma reports Q4 net income of $1.6M on $21.9M collab revenue from ImmunoScape; cash $27.1M

Cue Biopharma, Inc.

Net income $1.585M ($0.01 EPS) in Q4 2025 vs net loss $9.496M in Q4 2024; full-year net loss $26.6M vs $40.7M.
Collaboration revenue $21.9M in Q4 vs $1.6M; primarily from $9.5M upfront from ImmunoScape deal, with $5M due Nov 2026.
R&D expenses $16.5M (up from $7.2M) on CUE-401 mfg and ImmunoScape-related costs; G&A $3.5M (down from $4.0M).
Appointed Lucinda Warren CFO; raised $10.2M net in public offering; cash $27.1M at Dec 31, 2025.
Advanced CUE-401 autoimmune drug toward IND; reported preclinical safety data; plans Virtual R&D Day.

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