Cue Biopharma, Inc. (NASDAQ: CUE)

Sector: Healthcare Industry: Biotechnology CIK: 0001645460
Market Cap 25.41 Mn
P/B 1.92
P/E -0.67
P/S 3.58
ROIC (Qtr) -168.81
Div Yield % 0.00
Rev 1y % (Qtr) -35.58
Total Debt (Qtr) 6.17 Mn
Debt/Equity (Qtr) 0.47
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About

Cue Biopharma, Inc., a clinical-stage biopharmaceutical company, is at the forefront of engineering a novel class of injectable therapeutics that selectively engage and modulate targeted, disease-relevant T cells directly within the patient's body. The company's unique Immuno-STAT platform emulates the natural process of T cell activation and modulation, allowing for the selective activation and expansion of tumor-specific T cells while avoiding the activation of non-target T cells. Cue Biopharma's primary products are its Immuno-STAT drug product...

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Investment thesis

Bull case

  • Healthy cash reserves of 12.52M provide 3.59x coverage of short-term debt 3.49M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 31.64M provides 5.13x coverage of total debt 6.17M, indicating robust asset backing and low credit risk.
  • Robust tangible asset base of 31.64M provides 3.07x coverage of working capital 10.29M, indicating strong operational backing.
  • Cash reserves of 12.52M provide robust 0.81x coverage of current liabilities 15.52M, indicating strong short-term solvency.
  • Cash reserves of 12.52M provide solid 65.90x coverage of other non-current liabilities 190000, indicating strong liquidity.

Bear case

  • Investment activities of (6.95M) provide weak support for R&D spending of 28.39M, which is -0.24x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (29.64M) shows concerning coverage of stock compensation expenses of 5.70M, with a -5.20 ratio indicating potential earnings quality issues.
  • Free cash flow of (29.80M) provides weak coverage of capital expenditures of 158000, with a -188.59 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (37.28M) show weak coverage of depreciation charges of 2.04M, with a -18.31 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of (29.64M) barely covers operating expenses of 55000 with a -538.89 ratio, suggesting thin operational efficiency margins and limited flexibility.

Deferred Revenue Arrangement Type Breakdown of Revenue (2024)

Peer comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,204.25 Bn -1,306.67 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 486.51 Bn 7,097.20 97.84 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 122.05 Bn 30.87 10.17 1.85 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 83.00 Bn 18.42 5.79 2.71 Bn
5 ARGX Argenx Se 50.78 Bn 33.71 26,480.10 -
6 ALNY Alnylam Pharmaceuticals, Inc. 43.66 Bn 139.17 11.76 2.97 Bn
7 BNTC Benitec Biopharma Inc. 43.61 Bn -941.82 0.00 0.00 Bn
8 INSM INSMED Inc 28.88 Bn -24.40 64.61 0.74 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.11 11.06
EV to Cash from Ops. EV/CFO -0.12 26.32
EV to Debt EV to Debt 0.56 762.61
EV to EBIT EV/EBIT -0.09 -13.49
EV to EBITDA EV/EBITDA -0.10 8.61
EV to Free Cash Flow [EV/FCF] EV/FCF -0.12 25.66
EV to Market Cap EV to Market Cap 0.14 203.37
EV to Revenue EV/Rev 0.49 156.31
Price to Book Value [P/B] P/B 1.92 20.59
Price to Earnings [P/E] P/E -0.67 -0.88
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -12.64
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.17
Dividend per Basic Share Div per Share (Qtr) 0.00 0.01
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -0.14
Interest Coverage Int. cover (Qtr) -92.97 956.66
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -578.79 7.87
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -64.49 753.48
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 14.22 -57.63
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 14.51 8.83
EBIT Growth (1y) % EBIT 1y % (Qtr) 14.22 -67.21
EBT Growth (1y) % EBT 1y % (Qtr) 15.53 -23.74
EPS Growth (1y) % EPS 1y % (Qtr) 52.75 -7.02
FCF Growth (1y) % FCF 1y % (Qtr) 22.05 -40.48
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -25.51 264.51
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.22 0.14
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 0.81 3.92
Current Ratio Curr Ratio (Qtr) 1.66 7.33
Debt to Equity Ratio Debt/Equity (Qtr) 0.47 0.48
Interest Cover Ratio Int Coverage (Qtr) -92.97 956.66
Times Interest Earned Times Interest Earned (Qtr) -92.97 956.66
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -496.40 -17,888.70
EBIT Margin % EBIT Margin % (Qtr) -525.10 -18,246.34
EBT Margin % EBT Margin % (Qtr) -530.75 -19,108.08
Gross Margin % Gross Margin % (Qtr) 100.00 -10.30
Net Profit Margin % Net Margin % (Qtr) -530.70 -19,056.96