Cullinan Oncology Inc Stock Price, News & Analysis

Cullinan Oncology (CGEM) has initiated a pivotal study for zipalertinib in patients with EGFR exon 20 non-small cell lung cancer. The company has increased its ownership in MICA subsidiary from 54% to 92%. Initial clinical data updates for the CLN-049 and CLN-619 programs are expected in mid-2023. As of September 30, 2022, Cullinan has approximately $607 million in cash and investments. The third quarter net loss was $24.9 million, with R&D expenses decreasing to $19.7 million. Leadership changes include the appointment of Jacquelyn Sumer as Chief Legal Officer.

Cullinan Oncology (NASDAQ: CGEM) announced the appointment of Dr. David P. Ryan to its Board of Directors, effective immediately. Dr. Ryan has over 20 years of experience in oncology, currently serving as Clinical Director at Massachusetts General Hospital Cancer Center. He replaces Dr. Ansbert Gadicke, a founding member, who has been instrumental in the company’s transition to a public entity since 2016. Dr. Ryan's expertise in clinical research and gastrointestinal malignancies is expected to support Cullinan's diverse oncology pipeline.

Cullinan Oncology, Inc. (Nasdaq: CGEM) announced the granting of stock options for 147,000 shares to four new employees on November 1, 2022. The options, issued outside of its 2021 Stock Option and Incentive Plan, feature an exercise price of $13.26, matching the company's closing stock price on the grant date. Each option vests over four years, with the first installment vesting after one year. This grant follows Nasdaq Listing Rule 5635(c)(4), aimed at incentivizing new hires as Cullinan continues its focus on developing targeted oncology therapies.

Cullinan Oncology (Nasdaq: CGEM) has announced its participation in several upcoming investor conferences. CFO Jeff Trigilio will present at the Credit Suisse 31st Annual Healthcare Conference on November 8, 2022, at 11:35 a.m. EST. CEO Nadim Ahmed will speak at the Stifel 2022 Healthcare Conference in New York on November 16, 2022, at 4:45 p.m. EST, and will also participate in a virtual fireside chat at the Evercore ISI 5th Annual HEALTHCONx conference on December 1, 2022, at 8:25 a.m. EST. Webcasts of these events will be available on the company's investor relations website.

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.