Cue Biopharma, Inc. (NASDAQ:CUE), a clinical-stage biopharmaceutical company developing a novel class of therapeutic biologics to selectively engage and modulate disease-specific T cells for the treatment of autoimmune and inflammatory diseases, announced today that it has entered into a securities purchase agreement with certain accredited investors for a private placement (the "PIPE financing") for gross proceeds of approximately $30 million to Cue Biopharma, before placement agent fees and offering expenses. The PIPE financing is expected to close on or about May 4, 2026, subject to the satisfaction of customary closing conditions.

Newbridge Securities Corporation is acting as placement agent for the PIPE financing.

In the PIPE financing, Cue Biopharma agreed to sell pre-funded warrants ("Pre-Funded Warrants") to purchase an aggregate of up to 2,727,272 shares of common stock and accompanying common stock warrants ("Warrants") to purchase an aggregate of up to 1,363,636 shares of common stock (or, in certain circumstances, Pre-Funded Warrants) at an effective price of $11.00 per Pre-Funded Warrant and accompanying Warrant. The exercise price of the Pre-Funded Warrants is $0.001 per share. The exercise price of the Warrants is $11.00 per share.

The Pre-Funded Warrants are exercisable at any time following receipt of approval by the Company's stockholders at an upcoming special meeting of the Company's stockholders ("Stockholder Approval") and will not expire. The Warrants are exercisable following receipt of Stockholder Approval and will expire on the fifth anniversary of the closing of the PIPE financing.

Net proceeds from the PIPE financing are expected to be used to advance the Company's clinical pipeline, including acquiring and developing Ascendant-221, working capital and other general corporate purposes.