Cue Biopharma shares surge 10.58% premarket as CUE-101 trial reaches key HPV-linked cancer milestone.

Cue Biopharma surged 10.58% in premarket trading following the announcement that its CUE-101 trial for HPV-linked head and neck cancer reached a key milestone. The update highlights progress in the drug’s development, signaling potential therapeutic advancements and investor confidence in the company’s pipeline. Recent news, including a strategic collaboration with Ono Pharmaceutical in February and a positive data update at the 2023 ASCO meeting, also contributed to the optimism. However, the immediate catalyst appears to be the trial completion, which underscores the stock’s focus on oncology innovation and aligns with its ongoing efforts to advance CUE-101 through clinical stages.