Business
Cue Biopharma Reports Second Quarter 2023 Financial Results and Recent Business Highlights
BOSTON, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company developing a novel class of injectable
About this update from Cue Biopharma, Inc.
[{"type":"text","content":"BOSTON, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company developing a novel class of injectable biologics to selectively engage and modulate disease-specific T cells directly within the patient’s body, provided a business and financial update for the second quarter 2023. Recent Business Highlights Presented positive data update from ongoing Phase 1 trials of CUE-101 for recurrent/metastatic HPV+ head and neck squamous cell carcinoma at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting held in June.Initiated enrollment of the highest dose cohort in CUE-102 Phase 1 monotherapy dose escalation trial focused on Wilms’ Tumor 1 (WT1)-positive recurrent/metastatic gastric, pancreatic, ovarian and colorectal cancers. “Our second quarter accomplishments have positioned us well as we continued to observe both increased durability and depth of ongoing clinical responses from the CUE-101 combination trial with pembrolizumab (KEYTRUDA®), which we believe aligns well with our proposed mechanism of action,” said Daniel Passeri, chief executive officer of Cue Biopharma. “Importantly, the clinical data to date and proposed mechanism of action from CUE-101, further supports the encouraging observations in our ongoing CUE-102 Phase 1 monotherapy dose escalation trial. Among key accomplishments in the quarter was the ASCO presentation of CUE-101 demonstrating that CUE-101 appears to enhance the clinical activity of PD-1 blockade, particularly in patients with low PD-L1 expression in the tumor, as evidenced by CPS scores less than 20. CUE-101’s maturing clinical profile from the ongoing trials, combined with emerging data from our CUE-102 monotherapy dose escalation trial, both of which will be reported upon at the upcoming Society for Immunotherapy of Cancer's (SITC) conference in November 2023, provides us with a range of potential corporate development opportunities and further supports the potential of our platform for translating the body’s natural signals (or Nature’s Cues) into protein therapeutics to realize the full potential of selective modulation of disease specific T cells.” Second Quarter 2023 Financial Results The Company reported collaboration revenue of approximately $1.4 million and $26,000 for the three months ended June 30, 2023 and 2022, respective...