Cue Biopharma (CUE) Operating Expenses (2017 - 2025)

Cue Biopharma's (CUE) quarterly Operating Expenses came in at $20.0 million in Q4 2025, up 78.11% year-on-year from $11.2 million in Q4 2024, and up 104.89% quarter-over-quarter from $9.7 million in Q3 2025.

Cue Biopharma (CUE) Operating Expenses (2017 - 2025) Analysis & Trends

Cue Biopharma has disclosed Operating Expenses across 9 years of filings, most recently posting $20.0 million for Q4 2025.

  • Operating Expenses for Q4 2025 came in at $20.0 million, up 78.11% year-over-year; the trailing twelve-month figure through Dec 2025 was $54.0 million (up 6.36% YoY), and the FY2025 annual result was $54.0 million, up 6.36% from the prior year.
  • Operating Expenses came in at $20.0 million for Q4 2025 at Cue Biopharma, up from $9.7 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $20.0 million in Q4 2025 to a low of $9.7 million in Q3 2025.
  • The 5-year median for Operating Expenses is $13.5 million (2023), against an average of $13.8 million.
  • Across the five-year window, Operating Expenses retreated 28.39% in 2024 and jumped 78.11% in 2025, its largest moves.
  • Cue Biopharma's Operating Expenses stood at $16.1 million in 2021, then retreated by 7.0% to $15.0 million in 2022, then increased by 4.24% to $15.7 million in 2023, then declined by 28.39% to $11.2 million in 2024, then surged by 78.11% to $20.0 million in 2025.
  • The last three Operating Expenses figures came in at $20.0 million (Q4 2025), $9.7 million (Q3 2025), and $11.6 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Alterity Therapeutics 925,601.88 Bn 925,601.85 Bn - 4.33 Mn
2 Belite Bio 58,560.00 Bn 58,560.00 Bn - 32.68 Mn
3 Quantum Biopharma 17,284.41 Bn 17,284.40 Bn - 2.97 Mn
4 Legend Biotech 2,809.00 Bn 2,808.71 Bn 242.10 Mn -138.30 Mn
5 Evaxion A 1,334.43 Bn 1,334.42 Bn - -3.82 Mn
6 Akari Therapeutics 1,312.27 Bn 1,312.26 Bn - 15.76 Mn
7 Psyence Biomedical 212.16 Bn 212.16 Bn - 574,669.00
8 Vertex Pharmaceuticals 114.83 Bn 107.58 Bn 2.59 Bn 1.85 Bn
9 Abivax 91.96 Bn 91.96 Bn - -67.40 Mn
10 Cue Biopharma 581.16 Mn 553.47 Mn - 19.96 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 19.96 Mn
Sep 30, 2025 9.74 Mn
Jun 30, 2025 11.59 Mn
Mar 31, 2025 12.72 Mn
Dec 31, 2024 11.21 Mn
Sep 30, 2024 12.15 Mn
Jun 30, 2024 13.04 Mn
Mar 31, 2024 14.39 Mn
Dec 31, 2023 15.65 Mn
Sep 30, 2023 13.52 Mn
Jun 30, 2023 14.90 Mn
Mar 31, 2023 13.57 Mn
Dec 31, 2022 15.02 Mn
Sep 30, 2022 11.10 Mn
Jun 30, 2022 13.12 Mn
Mar 31, 2022 15.24 Mn
Dec 31, 2021 16.15 Mn
Sep 30, 2021 15.41 Mn
Jun 30, 2021 13.04 Mn
Mar 31, 2021 14.07 Mn