Overview
Cue Biopharma Q3 collaboration revenue declines
Company announces $15 mln collaboration with ImmunoScape for cell therapy development
Operating expenses decreased due to lower clinical trial costs and compensation
Outlook
Company did not provide specific financial guidance for future quarters in its press release
Result Drivers
REDUCED R&D EXPENSES - Decrease in research and development expenses due to lower clinical trial costs and employee compensation
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Collaboration Revenue
$2.15 mln
Q3 Net Income
-$7.45 mln
Q3 Basic EPS
-$0.07
Q3 Income From Operations
-$7.60 mln
Q3 Operating Expenses
$9.74 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Cue Biopharma Inc is $4.00, about 82.9% above its November 11 closing price of $0.68
Press Release: ID:nGNXD9jy3
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
