--- title: "Cue Biopharma Stock Surges Over 65% Overnight: Why Is It Moving?" type: "News" locale: "en" url: "https://longbridge.com/en/news/284868524.md" description: "Cue Biopharma Inc. (CUE) shares surged 67.57% to $24.70 after announcing a $30 million private investment, a Phase 2 anti-IgE antibody license, and the appointment of Dr. Shao-Lee Lin as CEO. The PIPE financing will support the development of Ascendant-221, an anti-IgE monoclonal antibody, and general corporate needs. CUE has a market cap of $47.98 million and has seen a 34.92% decline over the past year, but is currently trading near its 52-week high." datetime: "2026-05-01T05:40:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284868524.md) - [en](https://longbridge.com/en/news/284868524.md) - [zh-HK](https://longbridge.com/zh-HK/news/284868524.md) --- # Cue Biopharma Stock Surges Over 65% Overnight: Why Is It Moving? **Cue Biopharma Inc. ( CUE )** shares surged 67.57% overnight to $24.70 on Thursday after the company simultaneously announced a $30 million private investment in public equity financing, an exclusive Phase 2 anti-IgE antibody license and a CEO appointment. ## $30 Million Raise Funds Pipeline Expansion The PIPE, expected to close around May 4, involves pre-funded warrants for up to 2.72 million shares at an effective price of $11. Net proceeds will be used to support the acquisition and development of **Ascendant-221**, a humanized anti-IgE monoclonal antibody designed to neutralize free IgE and reduce the production of new IgE, targeting major pathways involved in allergic disease. The funds will also be allocated toward general corporate purposes and working capital needs. ## Phase 2 Anti-IgE Asset Separately, CUE licensed Ascendant-221 from the biotechnology company **Ascendant Health Sciences** for a $15 million upfront fee, plus up to $676.5 million in potential development, regulatory and commercial milestone payments. The company also appointed **Shao-Lee Lin**, M.D., Ph.D., as CEO, succeeding interim chief **Lucinda Warren**. Lin previously founded biotechnology company **ACELYRIN** and took it public within three years at a valuation exceeding $2 billion, while contributing to approved medicines including TEPEZZA, SKYRIZI and RINVOQ. ## Trading Metrics, Technical Analysis Cue Biopharma ( CUE ) has a market capitalization of $47.98 million, with a 52-week high of $15.43 and a 52-week low of $0.17. The small-cap stock has declined 34.92% over the past 12 months. Cue Biopharma ( CUE ) is trading at about 95.48% of its 52-week range, indicating it remains closer to the upper end. **Price Action:** CUE closed the regular session up 13.38% at $14.74, according to Benzinga Pro. **Benzinga's Edge Stock Rankings** indicate that CUE is experiencing long-term consolidation along with medium and short-term upward movement.
_Photo courtesy: Shutterstock_ _**Disclaimer:** This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors._ **Read Also: Beyond Meat Stock Is Trending Overnight: Here's What You Should Know** ### Related Stocks - [CUE.US](https://longbridge.com/en/quote/CUE.US.md) - [SLRN.US](https://longbridge.com/en/quote/SLRN.US.md) - [BYND.US](https://longbridge.com/en/quote/BYND.US.md) ## Related News & Research - [Cue Biopharma Reports First Quarter 2026 Financial Results and Recent Strategic Developments | CUE Stock News](https://longbridge.com/en/news/286460513.md) - [Cue Biopharma Q1 net loss narrows on lower R&D costs](https://longbridge.com/en/news/286463248.md) - [Cue Biopharma Announces $30 Million Private Placement | CUE Stock News](https://longbridge.com/en/news/284830191.md) - [Cue Biopharma Licenses Anti-IgE Asset From Ascendant; $15M Upfront, Up to $676.5M in Milestones](https://longbridge.com/en/news/284906657.md) - [Cue Biopharma Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) | CUE Stock News](https://longbridge.com/en/news/285634071.md)