Cue Biopharma shares fall 19.59% after-hours after pricing $10 million public offering.

Cue Biopharma (Nasdaq: CUE) fell 19.59% in after-hours trading following the announcement of a $10 million public offering, which includes 35.7 million shares and warrants to purchase 17.9 million shares at a combined price of $0.28 per unit. The offering, priced below the stock’s 52-week low of $0.34 and representing a significant dilution to existing shareholders, was cited as a primary driver of the sharp decline. The company, which has a history of losses and a “going concern” warning, raised approximately $10 million in gross proceeds, with underwriters retaining a 30-day option to purchase additional shares. The move underscores Cue Biopharma’s urgent need for liquidity amid ongoing operational challenges, aligning with investor concerns over equity dilution and financial stability.