aibioCue Biopharma holders approve reverse split range of 1-for-30 to 1-for-50
Tickers CUE
Cue Biopharma holders approved a reverse split at a ratio between 1-for-30 and 1-for-50. The board will pick the ratio and the timing without another stockholder vote, and the filing does not say why the split is wanted.
Key facts
- Company
- Cue Biopharma, Inc. (NASDAQ: CUE)
- News type
- Listings
- Primary source
- Cue Biopharma, Inc. 8-K (2026-04-13)
Cue Biopharma, Inc. (Nasdaq: CUE) said in a Form 8-K dated April 13, 2026 that stockholders approved an amendment to its certificate of incorporation allowing a reverse stock split of its issued common stock. The ratio must be at least 1-for-30 and no more than 1-for-50. The board will set the exact ratio and decide whether and when to carry out the split, without further approval from stockholders. The vote took place at the 2026 annual meeting, held on April 13, 2026.
The proposal received 51,011,729 votes for, 6,451,156 against and 3,310,793 abstentions. The 8-K does not explain the reason for the split, and it sets no timetable for it.
Board changes and other votes
Stockholders elected Pasha Sarraf, Peter A. Kiener, Frank Morich, Pamela Garzone, Patrick Verheyen and Jill Broadfoot to the board. Two nominees drew the most votes withheld: Jill Broadfoot had 13,683,821 withheld and Patrick Verheyen had 13,387,503. Garzone had the most votes for, at 32,459,096, and Sarraf received 31,989,512 for.
The 8-K also records that Usman Azam resigned as president, chief executive officer and director, effective March 26, 2026, before the meeting. All votes cast for his election were disregarded. The filing is signed by Lucinda Warren, interim president and chief executive officer, so the company is being run by an interim chief at the time of the vote.
Stockholders ratified RSM US LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, with 58,982,168 votes for, 1,289,439 against and 502,071 abstentions. In a non-binding advisory vote on executive pay, 31,388,709 votes were cast for, 4,239,819 against and 213,540 abstained. Broker non-votes on that item totaled 24,931,610.
The business behind the vote
The company's annual report, filed March 16, 2026, calls Cue a clinical-stage biopharmaceutical company developing injectable therapeutics for autoimmune and inflammatory diseases. Its Immuno-STAT platform is designed to modulate disease-relevant T cells. The lead candidate, CUE-401, is described in the report as a preclinical, bifunctional fusion protein designed to promote immune tolerance. The report also lists programs in three series: CUE-400 for autoimmune disease, which exploits TGF-β and IL-2 signaling, CUE-500 for targeted cell depletion and CUE-100 for oncology.
Two assets have been licensed out. CUE-501, for autoimmune B cell depletion, is licensed to Boehringer Ingelheim International GmbH. CUE-101 and CUE-102 are licensed to ImmunoScape Pte. Ltd. for oncology indications. The business section gives no financial terms for either license.
The annual report shows revenue of $27.5 million for 2025, up from $9.3 million in 2024. Research and development expense rose to $37.7 million from $36.3 million. The net loss narrowed to $26.6 million from $40.7 million. Cash used in operations was $21.7 million in 2025, against $36.3 million in 2024, and year-end 2024 cash and cash equivalents were $22.5 million.
What the filing leaves open
The vote gives the board wide discretion. The filing does not say whether the company will use the full range of ratios, and it does not say whether the split will be used at all. Stockholders approved the range but not the decision itself, so the next step rests with the board alone. Research and development spending rose in 2025 while the lead candidate remains preclinical, and the 8-K does not connect the split to any milestone, program or financing. The filing gives no share count before or after a split and no trading price.