New Risk • Jun 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 61% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (48% average weekly change). Shareholders have been substantially diluted in the past year (61% increase in shares outstanding). Board Change • Jun 04
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 5 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Co-Founder and Chairman of Scientific & Clinical Advisory Board Steven Almo is the most experienced director on the board, commencing their role in 2015. Independent Chairman of the Board Pasha Sarraf was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Jun 03
Cue Biopharma, Inc. Announces Board Changes Cue Biopharma, Inc. announced the transition of its board as the Company continued its strategic growth and transformation to support late clinical stage capabilities and activities. Effective May 29, 2026, four independent directors, Jill Broadfoot, Peter Kiener, Frank Morich, and Patrick Verheyen, resigned from the board. The company simultaneously announced the appointment of Daniel Camardo and Viola Meehan to the board. Daniel Camardo has over 30 years of industry experience and currently serves as President of Immedica Pharma North America, a subsidiary of Immedica Pharma AB, a Swedish biopharma focused on commercializing rare disease and specialty medicines. Before his role at Immedica Pharma, Mr. Camardo served as CEO at Athersys, a publicly traded clinical stage cell therapy company. He earlier served in senior executive roles at companies including Astellas Pharma, Inc, Clarus Therapeutics, Inc, and Horizon Therapeutics, where he was Executive Vice President and President, U.S. before Horizon Therapeutics was acquired by Amgen in 2023. Mr. Camardo holds a bachelor’s degree in economics from the University of Rochester and a Master of Business Administration from Northwestern University. Viola M. Meehan has over 30 years of experience comprising both board membership and finance roles. She currently serves as independent director of the privately held, Chicago-based Federal Savings Bank, and has held impactful committee chair roles at various institutions. Ms. Meehan’s experience in biopharma spans both large corporate and startup organizations. She previously served as Chief Financial Officer at Vanqua Bio, a startup focused on neurodegenerative diseases. Earlier in her career, she was Vice President, R&D Finance and Operations at Abbvie, Inc. and Controller, U.S. Commercial Products at Abbott Laboratories. She was previously a staff auditor at Coopers & Lybrand, now PricewaterhouseCoopers (PwC). Ms. Meehan holds a bachelor’s degree in economics from the University of Pennsylvania’s Wharton School and a Master of Business Administration in finance from the University of Chicago.