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Cue Biopharma lines up $30M to fund pipeline and Ascendant-221
Cue Biopharma (NASDAQ: CUE) announced a private placement to raise approximately $30 million in gross proceeds through pre-funded warrants and accompanying warrants. The proceeds are intended to advance the company’s clinical pipeline, including the acquisition and development of Ascendant-221, and for general corporate purposes. This news led to a positive market reaction, with CUE’s stock gaining 14.25%.