Cullinan Therapeutics, Inc. - CGEM STOCK NEWS

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.

Cullinan Oncology has finalized its agreement with Taiho Pharmaceutical, receiving an upfront payment of $275 million and the potential for $130 million in milestone payments related to CLN-081/TAS6417, an EGFR inhibitor for NSCLC. Taiho will hold global rights outside the U.S. and both companies will co-develop the drug in the U.S., sharing profits equally. The compound has received Breakthrough Therapy Designation from the FDA and is currently in a Phase 1/2a clinical trial.

Cullinan Oncology (Nasdaq: CGEM) announced the granting of stock options for 174,000 shares to four new employees as an inducement for their hiring. These options, which have an exercise price of $11.34 per share—equal to the closing price on June 1, 2022—are tied to the Nasdaq Listing Rule 5635(c)(4). Each option has a ten-year term and will vest over four years, with 25% vesting on the first anniversary. This move is aimed at attracting talent and enhancing the company's position in the biopharmaceutical sector focused on cancer therapies.