This report focuses on three highly sensitive aspects of Cue Biopharma’s situation:
Equity structure and dilution history (last ~24 months) – public offerings, at-the-market (ATM) sales, pre-funded warrants and long-dated warrants.
Nasdaq minimum bid price rule (“$1.00 rule”) – including the deficiency letter sent on 12 May 2025, the initial 180-day window ending 10 November 2025, and Cue’s own statement in its Form 10-Q for the quarter ended March 31, 2025 that it may cure the deficiency via a reverse stock split if necessary.
Forward-looking pressure – what the next months look like, how much time the company realistically has, and in which window a reverse split becomes a likely tool if the share price does not recover.