Cue Biopharma Stock Nearly Doubles After Allergy Drug Deal, New CEO and $30 Million Raise
Cue Biopharma surged Friday morning, the stock boosted by news of a fresh allergy drug license. The Boston biotech also unveiled a $30 million private placement and named Shao-Lee Lin as its new chief executive. Shares jumped 91.4% to $28.21 as of 11:03 a.m. EDT, according to market data, following a Thursday close at $14.74. The stock had kicked off the session at $33.75, but later lost some ground.