Cullinan Oncology Inc Stock Price, News & Analysis

Cullinan Oncology (Nasdaq: CGEM) announced that the FDA has cleared its IND application for CLN-617, a fusion protein combining IL-2 and IL-12 for targeted tumor treatment. This innovative therapy aims to enhance efficacy and reduce toxicity by retaining the drug within the tumor microenvironment post-injection. Cullinan will conduct a Phase 1 clinical trial focusing on advanced solid tumors and exploring the combination of CLN-617 with pembrolizumab. This advancement represents Cullinan's commitment to developing diverse cancer therapies, with CLN-617 being their sixth clinical-stage asset.

Cullinan Oncology (Nasdaq: CGEM) announced the presentation of preclinical data for its assets, CLN-619 and CLN-617, at the 2023 AACR Annual Meeting from April 14-17 in Orlando, Florida. CLN-619 is a humanized IgG1 antibody undergoing a Phase 1 trial for advanced solid tumors, with initial data expected mid-2023. CLN-617 is a first-in-class cytokine therapy combining IL-2 and IL-12, for which an Investigational New Drug application has been submitted to the FDA. Presentations will focus on their therapeutic potential and preclinical research outcomes.

Cullinan Oncology, Inc. (Nasdaq: CGEM) reported strong advancements and financial results for 2022, highlighting a net income of $109.2 million compared to a net loss of $67.5 million in 2021. The company expanded its pipeline by licensing U.S. rights to CLN-418, received FDA clearance for CLN-978, and submitted the IND for CLN-617, potentially positioning six clinical-stage programs by year-end 2023. Research and development expenses increased to $91.9 million in 2022, driven by ongoing clinical trials. The cash position stands at $550.1 million, providing runway into 2026 for ongoing development efforts.

Cullinan Oncology (Nasdaq: CGEM), based in Cambridge, announced that President and CEO, Nadim Ahmed, will present at Cowen’s 43rd Annual Health Care Conference on March 6, 2023, at 11:10 AM EST. The presentation will focus on the company's innovative approaches to oncology therapies. A live webcast will be available on the company’s investor relations website.

Investors interested in one-on-one meetings with Cullinan Oncology’s management can contact their Cowen representative. The company is dedicated to transforming cancer care through its diversified pipeline and scientific excellence.

Cullinan Oncology (CGEM) has secured an exclusive license from Harbour BioMed for the U.S. development of CLN-418/HBM7008, a bispecific immune activator currently in Phase 1 clinical trials. The deal includes a $25 million upfront payment to Harbour BioMed, with potential milestone payments totaling up to $563 million, plus tiered royalties on U.S. sales. CLN-418 targets B7H4 and 4-1BB, aiming to enhance cancer treatment efficacy, especially in solid tumors with low expression of PD-L1. Cullinan expects to expand its clinical pipeline to six assets by the end of 2023, positioning itself at the forefront of the bispecific antibody space.

On February 2, 2023, Cullinan Oncology (Nasdaq: CGEM) announced that President and CEO Nadim Ahmed will participate in two major conferences this February. He will engage in a fireside chat at Guggenheim’s 5th Annual Oncology Conference on February 8, 2023, at 1:00 p.m. EST, and at the SVB Securities Global Biopharma Conference on February 15, 2023, at 10:40 a.m. EST. Live webcasts of these sessions will be available on the Company's investor relations website. Investors can also arrange one-on-one meetings with management during these events.

Cullinan Oncology aims to innovate cancer therapies across various modalities and partners with academic and industry leaders to enhance cancer treatment.

Cullinan Oncology, Inc. (Nasdaq: CGEM) announced the granting of stock options to three new employees, totaling 56,000 shares. The options, part of a Nasdaq inducement plan, have an exercise price of $11.58, matching the stock's closing price on February 1, 2023. Each option features a ten-year term with a vesting schedule: 25% vesting after the first year, followed by equal monthly installments over the next three years, contingent on continued employment. This move aims to attract talent and incentivize long-term commitment among staff as Cullinan focuses on innovative cancer therapies.

Cullinan Oncology, Inc. (Nasdaq: CGEM) announced that the FDA has cleared its IND application for CLN-978, a bispecific antibody targeting CD19/CD3. This construct is designed for the treatment of relapsed/refractory B-cell non-Hodgkin lymphoma (B-NHL). The Phase 1 trial will assess the safety and efficacy of CLN-978, which features a novel design for improved potency and subcutaneous delivery. This marks Cullinan's fourth clinical-stage asset and underscores its dedication to enhancing cancer treatment standards. Furthermore, the IND submission for CLN-617 is anticipated in the first half of 2023.

Cullinan Oncology, a biopharmaceutical focused on cancer therapies, announced the grant of stock options for 86,000 shares to three new employees outside its 2021 Incentive Plan. The options were awarded on December 1, 2022, at an exercise price of $12.26, matching the stock's closing price on that day. Each option will vest over four years, beginning with 25% on the first anniversary. These actions comply with Nasdaq Listing Rule 5635(c)(4), designed to facilitate talent acquisition in line with their growth strategy.