Shares of Cue Biopharma (CUE) fell 8% in extended trading hours on Friday after the company announced that its top leader Usman Azam has stepped down as president and CEO, effective March 26.
Azam also resigned from his role as a director of the company. Azam was appointed into the role in late-September, replacing former CEO Daniel Passeri, and served merely six months in the role.
New CEO
Lucinda Warden has been appointed interim president and CEO, the company said. Warden served as Cue Biopharma’s chief financial and business officer since Feb. 2026, and previously as Cue Biopharma’s chief business officer from Sept. 2024 until Feb. 2026.
Prior to working with Cue, Warden was employed with Johnson & Johnson and Janssen Biologics.
Cue Pipeline
Boston, Massachusetts-headquartered Cue Biopharma is now looking to progress CUE-401 into clinical trials by the second half of this year. The investigational drug is the company’s lead asset for the treatment of autoimmune and inflammatory diseases. In preclinical studies, CUE-401 was well tolerated with no adverse events observed.
In November, Cue also entered into a collaboration and license agreement with ImmunoScape, Pte. Ltd, a biotechnology company, to advance a novel in vivo approach to cell therapy for the treatment of solid tumors.
Under the agreement, ImmunoScape will develop a novel Seed-and-Boost immunotherapy that combines Cue Biopharma’s clinically-validated Immuno-STAT T-cell engagers, with ImmunoScape’s proprietary T cell receptors.
How Did Retail Traders React?
On Stocktwits, retail sentiment around CUE stock stayed within the ‘bearish’ territory over the past 24 hours, while message volume rose from ‘low’ to ‘normal’ levels.
CUE stock has fallen 76% over the past 12 months.
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