Cue Biopharma, Inc. ( CUE ) shares are trading lower on Tuesday. The company reported 2024 fiscal-year earnings on Monday after the market closed.

What To Know: The company reported collaboration revenue of $9.3 million for 2024, compared to $5.5 million for 2023. It said the increase in revenue was due to its strategic collaboration with Ono Pharmaceutical.

It reported research and development expenses of $36.3 million, down from $40.8 million for the prior year. Cue attributed the decrease to lower clinical trial costs and employee compensation.

The company ended the year with $22.5 million in cash and cash equivalents.

Daniel Passeri, CEO of Cue Biopharma ( CUE ), said, “During 2024 and Q1 2025, we made significant progress shaping the company for success. We believe that the ongoing advancement of our prioritized autoimmune programs and the implementation of a highly focused strategic business model, support our ability to exploit the potentially disruptive opportunity of our Immuno-STAT™ platform, specifically CUE-401.”

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CUE Price Action: At the time of publication, Cue shares are trading 12.2% lower at 80 cents, according to data from Benzinga Pro.

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