Cue Biopharma, Inc. · NASDAQ:CUE
Cue Biopharma — Investor Presentation (June 2026)
22 slides from Cue Biopharma's investor presentation, Jun 3, 2026
Slide 1: Transforming Patients’ Lives – Focused on Functional Cures for Immunological Disorders
Transforming Patients’ Lives – Focused on Functional Cures for Immunological Disorders June 3, 2026 ©2026 ©2024 Cue Biopharma C ON FI D E NT I A L D O NO T D I ST R I B U T E 1
Slide 2: Cautionary Note Regarding Forward Looking Statements
Cautionary Note Regarding Forward Looking Statements This presentation has been prepared by Cue Biopharma, Inc. (“we,” “us,” “our,” “Cue” or the “Company”) ability to achieve profitability; potential setbacks in the company’s research and development efforts for its and is made for informational pur
Slide 3: Cue Biopharma
Cue Biopharma A Precision Immuno-engineering Company Targeting Functional Cures For Immune Disorders with High Unmet Need Augmenting and advancing a robust portfolio of new therapies with transformative potential • CUE-221: A novel anti-IgE program with a unique dual-mechanism of action in Phase 2 f
Slide 4: Expanding the Immunology Portfolio
Expanding the Immunology Portfolio Clinical-Stage anti-IgE Added to a Portfolio Anchored by a Potential First-in-Class Autoimmunity Asset DISCOVERY / PRE-CLINICAL PHASE 1 PHASE 2 PHASE 3 Allergy CUE-221: Novel dual MOA anti-IgE Autoimmune & Inflammation CUE-221 CUE-401: Potential first-in-class bifu
Slide 5: Allergy CUE-221: Novel dual MOA anti-IgE
Allergy CUE-221: Novel dual MOA anti-IgE ©2026 ©2025 ©2026Cue ©2024 Cue CueBiopharma Biopharma C ON FI D E NT I A L D O NO T D I ST R I B U T E 5
Slide 6: Differentiated Science Validated by Consistent Clinical Data
Differentiated Science Validated by Consistent Clinical Data Provides CUE-221 Potential to Outperform Existing And Emerging Anti-IgE Therapies Consistent clinical data Driving next phase of Functionally distinct reinforce benchmark- Advancing toward late- growth through dual MOA setting potential in
Slide 7: Massive Unmet Need in Food Allergy
There is a Massive Unmet Need in Our Global Beachhead Indication: Food Allergy 1 in 10 1 in 13 adults children 33 million More than half of More than 40% of Americans have food allergies adults with food children with food 51% 42% 377% allergies have allergies have experienced a experienced a severe
Slide 8: Omalizumab and an Omalizumab Biosimilar are the Only FDA-Approved Anti-IgE Therapies
Omalizumab and an Omalizumab Biosimilar are the Only FDA- Approved Anti-IgE Therapies 1,2 Significant Unmet Need Remains • Omalizumab works by neutralizing IgE1 o In IgE mediated food allergy, patients are dosed every 2 to 4 weeks and may require up to 4 injections o Patients with high baseline IgE
Slide 9: CUE-221 is a Functionally Distinct Novel Dual MOA Anti-IgE Therapy
CUE-221 is a Functionally Distinct Novel Dual MOA Anti-IgE Therapy, with Pipeline-in-a-Product Potential Potential Future Indications CSU FOOD ALLERGY ~86mm WW patients ~214mm WW patients CUE-221 Dual mechanism ATOPIC anti-IgE ASTHMA DERMATITIS ~287mm WW patients ~223mm WW patients ALLERGIC ANAPHYLA
Slide 10: CUE-221: Designed for Deeper and Durable IgE Suppression
CUE-221: Designed for Deeper and Durable IgE Suppression Higher binding affinity (picomolar range) and slower dissociation (off-rate) than omalizumab CUE-221 OMALIZUMAB IgE nM 50 IgE nM 25 IgE nM 12.5 IgE nM 50 IgE nM 25 IgE nM 12.5 IgE nM 6.25 IgE nM 3.12 IgE nM 6.25 IgE nM 3.12 160 160 140 140 120
Slide 11: IgE Drives Allergic Disease by Engaging Two Critical Receptors
IgE Drives Allergic Disease by Engaging Two Critical Receptors FcεRI and CD23 (FcεRII) regulate the allergic response Cross-linking the FcεRI receptor leads Membrane bound CD23 suppresses IgE production to allergic reaction when bound by IgE IgE binds to FcεRI receptor on the CD23 receptor regulates
Slide 12: CUE-221’s Differentiated IgE Binding Enables Distinct Functional Properties
CUE-221’s Differentiated IgE Binding Enables Distinct Functional Properties, Including Preserved Interaction with CD23-Bound IgE CUE-221 does not block IgE binding to CD23, preserving CD23’s natural regulatory function in high -IgE states CUE-221 UB-221 Omalizumab Anti-IgE: IgE complex 120 100 % Max
Slide 13: CD23 Acts as a Natural Brake on IgE Production in High IgE States
CD23 Acts as a Natural Brake on IgE Production in High IgE States CUE-221 leverages the CD23-mediated IgE downregulation pathway, suppressing IgE mRNA and protein synthesis 1 IgE mRNA IgE protein synthesis 1 µg/mL 10 µg/mL 200 *** ** *** 150 ** ** * 175 125 150 mRNA expression 100 Total IgE (%) 125
Slide 14: P1 SAD: Rapid and Prolonged Single-Dose PD Effect
P1 SAD: Rapid and Prolonged Single-Dose PD Effect Consistent with Dual IgE Neutralization and Down-regulation of Synthesis COHORT 1 (0.2 mg/kg) COHORT 2 (0.6 mg/kg) COHORT 3 (2 mg/kg) 106 1.2 50 106 1.2 50 106 1.2 50 Serum conc. (ng/mL) 15 15 15 Serum conc. (ng/mL) Serum conc. (ng/mL) 10 40 10 40 10
Slide 15: Potential for a Significant Value Inflection with Phase 2 CSU Study Results in 2H26
Potential for a Significant Value Inflection with Phase 2 CSU Study Results in 2H26 Phase 2 CSU Study Design N = 145 Phase 2 Study in China CUE-221 High dose Q4W SC with placebo and active comparator (Ascendant CUE-221 Medium dose Q4W SC Randomization CSU Study) Screening Follow up CUE-221 Low dose
Slide 16: Autoimmune & Inflammation CUE-401: Potential first-in-class bifunctional cytokine
Autoimmune & Inflammation 401: Potential first-in-class bifunctional cytokine ©2026 ©2025 ©2026Cue ©2024 Cue CueBiopharma Biopharma C ON FI D E NT I A L D O NO T D I ST R I B U T E 16
Slide 17: CUE-401: A Potential First-in-Class Bifunctional Cytokine
CUE-401: A Potential First-in-Class Bifunctional Cytokine Broad in Vivo Efficacy Across Novel bispecific fusion protein Near term value inflection with Immune-mediated Disease clear path to clinic Models • Combines affinity-attenuated IL-2 • Robust in vivo proof-of-mechanism • Manufacturing producti
Slide 18: 2025 Nobel Prize Recognized Importance in Understanding of FOXP3+ Tregs
2025 Nobel Prize Recognized Importance in Understanding of FOXP3⁺ Tregs as Central Regulators of Immune Tolerance1,2 Nature publication provides external validation of dual IL-2 and TGF-β agonism as a differentiated approach for durable immune tolerance with reduced off-target effects3 CUE-401: Bi-f
Slide 19: Dual IL-2 and TGF-β Signaling Drives Immune Reprogramming Toward Tolerance
Dual IL-2 and TGF-β Signaling Drives Immune Reprogramming Toward Tolerance In vitro studies demonstrate FOXP3 induction and proliferation with CUE-401 dual agonism Control IL-2 alone Fc-TGF-β alone CUE-401 iTreg differentiation FOXP3 37 nM CFSE Source: Sponsored Research Collaboration with Dr. Richa
Slide 20: IL-2 and TGF-β Agonism Demonstrates Activity Across Inflammatory Diseases
IL-2 and TGF-β Agonism Demonstrates Activity Across Inflammatory Diseases, Supporting a Platform for Immune Tolerance Suppresses pro-inflammatory Broad in vivo efficacy across immune-mediated disease models cytokine signaling Prevention of Attenuation of Disease GVHD: Delayed Development Suppresses
Slide 21: Phase 1 Single and Multiple Ascending Dose Study in Healthy Volunteers
Phase 1 Single and Multiple Ascending Dose Study In Healthy Volunteers with Patient Cohort Expansion Single Ascending Dose 1 Placebo controlled 4 sequential dose levels Multiple Ascending Dose 1 Placebo controlled 3 dose levels plus patient Dotted arrows indicateexpansion overlap; MADcohort dosing b
Slide 22: CUE is Advancing a Portfolio of Potentially Transformative Therapies
CUE is Advancing a Portfolio of Potentially Transformative Therapies Aimed at Enabling Functional Cures Across Immunological Disorders • CUE-221: a novel anti-IgE program with a unique dual-mechanism of action in Enhanced Phase 2 for allergic disease augmenting the portfolio that includes CUE -401 c