Cue Biopharma Stock Nearly Doubles After Allergy Drug Deal, New CEO and $30 Million Raise
Cue Biopharma shares surged 91.4% to $28.21 after the company licensed the Phase 2 anti-IgE antibody Ascendant-221, announced a $30 million private placement, and named Shao-Lee Lin as CEO. The deal gives Cue global rights to Ascendant-221 outside greater China, with $15 million upfront and up to $676.5 million in milestones.