Cue Biopharma reports Q2 EPS (29c), consensus (34c)

Reports Q2 revenue $1.38M, consensus $910K. “Our second quarter accomplishments have positioned us well as we continued to observe both increased durability and depth of ongoing clinical responses from the CUE-101 combination trial with pembrolizumab (KEYTRUDA), which we believe aligns well with our proposed mechanism of action,” said CEO Daniel Passeri. “Importantly, the clinical data to date and proposed mechanism of action from CUE-101, further supports the encouraging observations in our ongoing CUE-102 Phase 1 monotherapy dose escalation trial. Among key accomplishments in the quarter was the ASCO presentation of CUE-101 demonstrating that CUE-101 appears to enhance the clinical activity of PD-1 blockade, particularly in patients with low PD-L1 expression in the tumor, as evidenced by CPS scores less than 20. CUE-101’s maturing clinical profile from the ongoing trials, combined with emerging data from our CUE-102 monotherapy dose escalation trial, both of which will be reported upon at the upcoming Society for Immunotherapy of Cancer’s (SITC) conference in November 2023, provides us with a range of potential corporate development opportunities and further supports the potential of our platform for translating the body’s natural signals into protein therapeutics to realize the full potential of selective modulation of disease specific T cells.”