Cue Biopharma, a preclinical biotech developing T cell immuno-oncology therapies, announced on Tuesday that it had closed its initial public offering in late December. The company raised $66 million. Its stock also began trading on the Nasdaq on Tuesday under the symbol CUE, and was up roughly 50% in early trading.
In mid-December, Cue Biopharma filed a final prospectus for its min-max "best efforts" IPO that set the initial price at $7.50, toward the high end of the range of $6.00 to $8.00. Today's press release disclosed a final offering size of 8.8 million shares ($66 million), near the high end of the upwardly-revised range of 5.3 million shares ($40 million) to 9.3 million shares ($70 million).
MDB Capital Group acted as sole bookrunner on the deal, and Feltl and Company served as co-manager. As a min-max best efforts IPO, it is excluded from our IPO stats.
