Welcome to our dedicated page for Cullinan Therapeutics news (Ticker: CGEM), a resource for investors and traders seeking the latest updates and insights on Cullinan Therapeutics stock.
Cullinan Therapeutics, Inc. (Nasdaq: CGEM) is a forward-thinking biopharmaceutical company dedicated to establishing new standards of care for patients through innovative cancer and autoimmune therapies. The company specializes in a modality-agnostic approach, targeting key drivers of disease and harnessing the immune system to eradicate diseased cells.
With a highly experienced team of oncology professionals and drug developers, Cullinan boasts a diversified portfolio of clinical-stage assets sourced from both internal and external collaborations. This includes therapies aimed at inhibiting disease drivers or activating the immune system to address various oncology and autoimmune indications.
Recent Achievements:
- CLN-617: A first-in-class cytokine therapy combining IL-2 and IL-12 for intratumoral injection, shown to activate a broad immune response.
- CLN-619: A first-in-class monoclonal antibody for relapsed/refractory multiple myeloma, aimed at restoring immune recognition of tumor cells.
- CLN-978: A novel CD19xCD3 bispecific T cell engager being developed for systemic lupus erythematosus.
- Zipalertinib: An EGFR inhibitor for non-small cell lung cancer, with promising efficacy and a manageable safety profile.
Financially, Cullinan is well-positioned, having announced a $280 million private placement to support ongoing research and development activities. This funding, combined with current assets, is expected to sustain the company's operations into 2028.
For more detailed insights and updates, visit Cullinan’s website or follow them on LinkedIn and Twitter.
Cullinan Oncology, Inc. (Nasdaq: CGEM) has increased its ownership in Cullinan MICA, Inc. from 54% to 92% after acquiring shares from financial investors Avalon Ventures and Bregua Corporation for $30.7 million. This strategic move emphasizes the importance of CLN-619, an antibody designed to enhance tumor cell destruction by immune cells, in Cullinan's cancer treatment pipeline. The ongoing Phase I clinical trial of CLN-619 aims to report initial data in mid-2023, highlighting its potential as a first-in-class therapy for various cancers.
Cullinan Oncology (Nasdaq: CGEM) announced on October 3, 2022, that its Board of Directors granted stock options for 242,000 shares of common stock to seven employees. This grant is part of an inducement offer for new hires, aligning with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $12.83, matching the closing stock price on the grant date. Each option has a ten-year term, vesting over four years, with a quarter vesting after one year and the remainder in equal monthly installments over the following 36 months.
Cullinan Oncology (Nasdaq: CGEM) announced its participation in upcoming investor conferences. CFO Jeff Trigilio will present at the HC Wainwright Global Investment Conference on September 13, 2022, at 2:00 p.m. EDT. CEO Nadim Ahmed will engage in a fireside chat at the Morgan Stanley Healthcare Conference on September 14, 2022, at 10:35 a.m. EDT. Live webcasts for both events will be accessible via the Company’s investor relations website, enhancing investor engagement and transparency.
Cullinan Oncology, Inc. (Nasdaq: CGEM) announced the granting of stock options for 125,700 shares to three employees on September 1, 2022. The options are part of an inducement plan under Nasdaq Listing Rule 5635(c)(4) and have an exercise price of $13.02, matching the stock's closing price. Each option has a ten-year term and vests over four years, with 25% vesting after one year and the remainder in equal installments over the next three years, contingent on continued employment. This move aims to attract talent to support Cullinan’s growth in cancer therapies.
Cullinan Oncology (Nasdaq: CGEM) announced the appointment of Jacquelyn Sumer, J.D., as Chief Legal Officer, effective immediately. Sumer brings nearly 20 years of legal experience in cancer therapy development and commercialization. Previously serving at Genocea Biosciences and Bristol Myers Squibb, her expertise is expected to support Cullinan's strategy as a late-stage oncology company. As part of her induction, she received a stock option to purchase 190,000 shares at an exercise price of $14.16, aligning with the company's closing stock price on August 15, 2022.
Cullinan Oncology (CGEM) announced a strategic collaboration with Taiho Pharmaceutical to develop CLN-081, with an upfront payment of $275 million and potential additional payments of $130 million. Updated data from the Phase 1/2a trial presented at ASCO showed a median duration of response exceeding 21 months and a progression-free survival of 12 months. The company reported cash and investments of $656 million, expected to fund operations through 2026. Additionally, it achieved a net income of $174.1 million for Q2 2022, reflecting significant progress in its oncology pipeline.
On August 1, 2022, Cullinan Oncology (Nasdaq: CGEM) announced the granting of stock option awards for 137,700 shares to four new employees as part of an inducement arrangement, complying with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $13.30, matching the closing stock price on the same day. Each option vests over four years, with the first 25% vesting after one year. This move aims to attract talent and incentivize performance within the company.
Cullinan Oncology (Nasdaq: CGEM) has announced that its CFO, Jeff Trigilio, will participate in key investor conferences this August. He will engage in a fireside chat at the BTIG Biotechnology Conference on August 8, 2022, at 1:00 p.m. EDT, followed by a presentation at the Canaccord Genuity 42nd Annual Growth Conference on August 11, 2022, at 3:30 p.m. EDT. A live webcast of the Canaccord presentation will be available on the company's investor relations website. Interested investors can schedule one-on-one meetings through event representatives.
Cullinan Oncology, Inc. (NASDAQ: CGEM) announced that its Chief Scientific Officer, Patrick Baeuerle, Ph.D., will present a keynote at the William Blair Biotech Focus Conference on July 12, 2022. The presentation, titled “Multispecific Protein Therapies: Where We’ve Been and Where We’re Going?”, is set for 1:00 p.m. EDT. Cullinan's management will also hold one-on-one meetings with attendees. The company focuses on developing targeted cancer therapies, emphasizing innovation and scientific excellence across a diversified pipeline.
Cullinan Oncology, Inc. (Nasdaq: CGEM) announced the grant of stock options to two new employees, totaling 70,000 shares, outside its 2021 Stock Option and Incentive Plan. The exercise price is set at $12.93, matching the closing price on July 1, 2022. Each option features a ten-year term and vests over four years, with 25% vesting after one year and the remainder in equal installments over the following 36 months, contingent on continued employment. This move aligns with Nasdaq Listing Rule 5635(c)(4) and aims to incentivize new talent within the company.
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