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Cue Biopharma Inc. (CUE+0.23%) has filed its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The company reported collaboration revenue of $9.3 million for the year, an increase from $5.5 million in the previous year, primarily due to revenue recognized from the Ono Collaboration and Option Agreement.
General and administrative expenses decreased to $14.6 million from $16.7 million, attributed to lower employee compensation and professional fees.
Research and development expenses were $36.3 million, down from $40.8 million, due to reduced clinical trial costs and employee compensation.
Net loss for the year was $40.7 million, compared to a net loss of $50.7 million in the prior year.
The company highlighted its strategic focus on autoimmune programs, including CUE-401 and CUE-501, and is seeking third-party collaborations to advance its oncology programs.
Cue Biopharma continues to rely on collaborations, such as its agreements with LG Chem and Ono, to support its research and development activities.
The company acknowledges the need for additional capital to fund future operations and maintain its status as a going concern.
The filing outlines various risks, including competition, regulatory challenges, and the need for successful partnerships to achieve commercialization goals.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cue Biopharma Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.