Cullinan Oncology Inc Stock Price, News & Analysis

Cullinan Therapeutics (CGEM) provided a corporate update and Q2 2024 financial results. Key highlights include:

1. On track to file IND for CLN-978 in SLE in Q3 2024
2. Pursuing rheumatoid arthritis as second autoimmune indication for CLN-978
3. Presented promising CLN-619 combination therapy data at ASCO
4. Appointed Mary Thistle to Board of Directors
5. Cash position of $664.9 million as of June 30, 2024
6. Q2 2024 R&D expenses increased to $36.3 million
7. Q2 2024 net loss of $42.0 million
8. Discontinuing development of CLN-418

The company expects its cash resources to provide runway into 2028 based on current operating plans.

Cullinan Therapeutics has announced positive initial data from its Phase 2b REZILIENT1 study of zipalertinib for non-small cell lung cancer (NSCLC) with EGFR Exon 20 insertion mutations. The study involves patients who progressed after amivantamab treatment, showing a 39% objective response rate (ORR) and a 94% disease control rate (DCR). The data, cut off as of January 12, 2024, reflects findings in 31 patients with a median of three prior treatments. Zipalertinib had a manageable safety profile, with no grade 4 or 5 treatment-related adverse events. The company remains on track to complete enrollment by the end of 2024 and retains a 50/50 profit share in the U.S. through its partnership with Taiho. An investor event will be held on June 1, 2024, to discuss this and other data.

Cullinan Therapeutics, a biopharmaceutical company focused on developing targeted therapies, has announced that its CEO, Nadim Ahmed, and CMO, Jeffrey Jones, will participate in a fireside chat at the TD Cowen 5th Annual Oncology Innovation Summit.

The event, which will take place virtually on May 28 and 29, 2024, will feature their chat on May 29 at 11:30 am ET. A webcast of the event will be accessible on the company's investor relations website.

Cullinan Therapeutics announced preliminary data from its Phase 1 trial of CLN-619, an anti-MICA/B antibody, in combination with pembrolizumab, and updated monotherapy results. Among 22 patients treated with the combination, 3 showed partial responses, including in non-small cell lung cancer (NSCLC) and gastric cancer. Monotherapy results showed a 41.4% clinical benefit rate across various tumor types. CLN-619 was well tolerated, with most adverse events being mild. Cullinan is expanding the trial to include more NSCLC patients and has plans for further studies in multiple myeloma.

Cullinan Therapeutics (Nasdaq: CGEM) reported its Q1 2024 financial results and provided corporate updates. Key highlights include a strong cash position with $434.8 million in cash and investments as of March 31, 2024, and an additional $280 million from an April private placement, extending its cash runway into 2028. The company appointed David Meek to its Board of Directors. Research and development (R&D) expenses decreased to $30.6 million, while general and administrative (G&A) expenses increased to $12.3 million for the quarter. Cullinan reported a net loss of $37.3 million for Q1 2024, down from $58.1 million in Q1 2023. Significant clinical developments include presenting data for CLN-619 at the ASCO 2024 Annual Meeting and focusing CLN-978 on autoimmune diseases, beginning with systemic lupus erythematosus (SLE). The company aims to complete enrollment for the Phase 2b REZILIENT1 study by year-end 2024 and has multiple data catalysts expected through early 2025.