Stock Alert: Cue Biopharma Gains 5%

(RTTNews) - Shares of Cue Biopharma, Inc. (CUE) are climbing more than 5% Monday morning after the clinical-stage bio pharmaceutical company announced its deal with Merck to evaluate its drug candidate, CUE-101 in combination with Merck's anti-PD-1 therapy, Keytruda for the treatment of advanced head and neck cancer.

As per the deal, Cue Biopharma will conduct a Phase 1 study dubbed KEYNOTE-A78, evaluating CUE-101 in combination with Keytruda in first-line HPV+ advanced head and neck cancer.

Parallely, KEYNOTE-A78, the ongoing Phase 1 study of CUE-101 as monotherapy in post first-line treatment will be conducted.

Preliminary data from early patient cohorts in the ongoing Phase 1 study of CUE-101 as monotherapy in post first-line recurrent/metastatic HNSCC patients demonstrated tolerability and drug exposure.

CUE is currently trading at $19.75. It has traded the range of $6.54- $22.82 in the last 52 weeks.