Change in focus for Cue prompts little investor interest

29 July 2024

Cue Biopharma (Nasdaq: CUE) has announced layoffs affecting about a quarter of its workforce, as part of a strategic overhaul to prioritize autoimmune programs and enhance operational efficiencies.

The company has seen its stock price tick steadily downwards in 2024, with shares now changing hands for about a quarter of their late-2023 value.

The latest announcement did nothing to reverse that trend, despite the firm’s stated ambition to reduce expenses by around 25% and extend the company's cash runway into mid-2025.

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