Cue Biopharma Inc. (NASDAQ:CUE) announced it will receive a $7.5 million preclinical milestone payment from Boehringer Ingelheim.

The biopharmaceutical company is developing injectable biologics to selectively engage and modulate disease-specific T cells directly within the patient’s body.

It is set to receive the payment following Boehringer Ingelheim’s selection and approval of its first compound for lead optimization.

Cue Biopharma is also eligible for up to approximately $337.5 million in additional milestone payments and royalties on net sales.

Under the terms of the collaboration and license agreement with Boehringer Ingelheim, Cue Biopharma’s technology will be leveraged to further research and advance the development of the candidate molecule.

The terms of the multi-year collaboration also include the ability of the parties to expand research and development into various B-cell targeting bispecifics encompassing autoimmune diseases.

Cue Biopharma Leadership Transition

In March, Cue Biopharma appointed Lucinda Warren as the interim president and CEO. Warren has served as Cue Biopharma’s CFO and chief business officer since February 2026.

Usman Azam stepped down as president and CEO and as a director, effective March 26.

Preclinical Data Supports Lead Asset

In February, Cue Biopharma shared preclinical safety and tolerability data that further support the preclinical profile of CUE-401, the company’s lead autoimmune asset.

In two non-GLP studies, CUE-401 was well-tolerated with no adverse events observed.

CUE Stock Price Activity: Cue Biopharma shares spiked 70.33% to 50 cents on Friday, but subsequently fell to about 29 cents at last check Friday, according to Benzinga Pro data.

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