Added to YB: 2026-05-13
Pitch date: 2026-05-11
CUE [bearish]
Cue Biopharma, Inc.
Author Info
Fugazi Research exposes inflated valuations built on illusion — not substance. We dissect the narratives, trace the incentives, and reveal who’s really cashing in. In a market full of noise, we show what’s real behind the fugazi. Sign up for the newsletter.
Company Info
Cue Biopharma, Inc., a clinical-stage biopharmaceutical company, develops a novel class of injectable therapeutics to selectively engage and modulate targeted, disease relevant T cells in the United States.
Market Cap
$113.9M
Pitch Price
N/A
Price Target
1.00 (-97%)
Dividend
N/A
EV/EBITDA
-3.97
P/E
-4.15
EV/Sales
3.27
Sector
Biotechnology
Category
turnaround
$CUE: Reverse Splits, PIPE Dilution, and the Illusion of Recovery
CUE (short): Clinical-stage w/ zero products, $0 commercial rev, $368M losses, 97% margin. FY25 rev spike ($27M) from one-time ImmunoScape license; Q1 2026 est $2.5M (-88.6% QoQ). 30:1 reverse split compressed 97.7M to 3.26M shares, then $30M PIPE added 4.09M share-equiv (>100% dilution). New CEO Shao-Lee Lin got $6.3M comp vs $5M contracted rev; led ACELYRIN IPO that fell 61.6% post-failure, sued for misleading statements. $27.1M cash, $35-40M burn = 12-16mo runway. Fugazi sees 95% downside to sub-$1.
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