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BOSTON - Cue Biopharma, Inc. (NASDAQ:CUE) announced Monday that Usman "Oz" Azam, M.D., has been appointed President and Chief Executive Officer, effective immediately. Daniel Passeri, who previously held the position, will transition to the role of Strategic Advisor to the company. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt, though it’s currently valued at approximately $54.5 million market capitalization.
The leadership change comes as the clinical-stage biopharmaceutical company prioritizes its focus on autoimmune disease treatments, particularly advancing its first-in-class tolerogenic biologic CUE-401 into clinical trials. InvestingPro analysis indicates the company is rapidly burning through cash, with analysts projecting a sales decline this year. The stock currently trades below its Fair Value, according to InvestingPro’s proprietary valuation models.
Dr. Azam brings over 25 years of drug development experience to Cue Biopharma. He most recently served as CEO of Inspirna, Inc., a privately held clinical-stage biopharmaceutical company. His previous leadership roles include positions at Empyrean Neuroscience, Tmunity Therapeutics, and Novartis, where he helped secure the first FDA approval for a CAR-T cell therapy.
"I am very pleased to be taking on the role of CEO and working closely with the Cue Biopharma team," said Dr. Azam. "What has me most excited about joining the company is CUE-401, a molecule designed to restore immune homeostasis and tolerance, with the potential to disrupt the standard of care in autoimmune disease."
Pasha Sarraf, M.D., Ph.D., chairman of Cue Biopharma’s board, stated that the company believes CUE-401’s tolerogenic mechanism has significant potential in treating autoimmune conditions.
Cue Biopharma’s proprietary platform, Immuno-STAT, is designed to selectively engage and modulate disease-specific T cells directly within a patient’s body. CUE-401 combines a TGF-beta component with the company’s clinically validated interleukin mutein in a single injectable biologic.
The company announcement was made in a press release statement issued Monday. With analyst price targets ranging from $2 to $6 per share and an overall Financial Health score rated as "FAIR" by InvestingPro, investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively to subscribers, covering this and 1,400+ other US equities.
In other recent news, Cue Biopharma reported encouraging clinical data for its experimental cancer immunotherapy, CUE-101. The company revealed a 50% overall response rate in treatment-naïve patients with HPV-positive recurrent/metastatic head and neck squamous cell carcinoma. The data, presented from a Phase 1 trial, also indicated a 12-month overall survival rate of 88% and an estimated median overall survival of 32 months. Additionally, Lucid Capital Markets initiated coverage on Cue Biopharma with a Buy rating and set a price target of $4.00. The research firm emphasized CUE-401, a novel bispecific treatment for autoimmune disease, as a key asset. These developments reflect ongoing advancements in Cue Biopharma’s clinical pipeline.
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