Cue Biopharma Q4 revenue surges on ImmunoScape deal
Overview
U.S. biopharma firm's Q4 collaboration revenue surged on ImmunoScape deal
Company posted Q4 net income, reversing a loss from the prior year
R&D expenses rose due to CUE-401 development and ImmunoScape collaboration costs
Outlook
Company did not provide specific financial guidance or outlook for the current or future periods
Result Drivers
IMMUNOSCAPE COLLABORATION - Q4 revenue increase was primarily due to upfront payments from ImmunoScape collaboration and license agreement
CUE-401 DEVELOPMENT COSTS - R&D expenses rose due to increased drug substance manufacturing and lab costs for CUE-401, and one-time acquired in-process R&D costs tied to ImmunoScape collaboration
LOWER COMPENSATION EXPENSE - Decrease in employee compensation, including stock-based compensation, due to reduction in headcount partially offset expense increases
Company press release: ID:nGNX4HQ8ZW
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Collaboration Revenue |
| $21.94 mln |
|
Q4 Net Income |
| $1.59 mln |
|
Q4 Basic EPS |
| $0.01 |
|
Q4 Income From Operations |
| $1.98 mln |
|
Q4 Operating Expenses |
| $19.96 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Cue Biopharma Inc is $4.00, about 1,309.9% above its March 13 closing price of $0.28
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