Cullinan Oncology Inc Stock Price, News & Analysis

Cullinan Oncology and Taiho Pharmaceutical have entered a strategic agreement for the co-development and commercialization of CLN-081/TAS6417, an innovative treatment for non-small cell lung cancer (NSCLC) with EGFR exon 20 mutations. Under the deal, Cullinan will receive an upfront payment of $275 million and may obtain an additional $130 million in milestone payments. The partnership allows Cullinan to retain a share of profits in the U.S. while Taiho commercializes the drug globally. The deal strengthens both companies’ oncology portfolios.

On May 2, 2022, Cullinan Oncology (CGEM) granted stock options for 207,000 shares to two new employees outside its 2021 Stock Option and Incentive Plan. The options, exercisable at $10.53 per share, correspond to the stock's closing price on the grant date. Each option has a ten-year term and vests over four years, with 25% vesting after one year and the remainder in equal installments monthly over three years. This initiative follows Nasdaq Listing Rule 5635(c)(4) and aims to attract talent in the competitive biopharmaceutical industry.

Cullinan Oncology (Nasdaq: CGEM) presented updated findings from its Phase 1/2a clinical trial of CLN-081 at the 2022 ASCO Annual Meeting in Chicago. This oral presentation focused on the drug’s efficacy in patients with EGFR exon 20 insertion mutation positive non-small cell lung cancer (NSCLC). CLN-081, which received Breakthrough Therapy Designation from the FDA, aims to address the limited treatment options available. The trial highlights the potential of CLN-081 as a promising therapy amidst ongoing unmet needs for patients.

Cullinan Oncology (Nasdaq: CGEM), a biopharmaceutical firm, announced its participation in virtual conferences in April 2022. Key events include the Needham Healthcare Conference on April 13, featuring CFO Jeff Trigilio, and the Canaccord Genuity Horizons in Oncology Virtual Conference on April 14, with CEO Nadim Ahmed. Investors can access live webcasts via the investor relations website. One-on-one investor meetings are also available upon request.

Cullinan Oncology (CGEM) announced the granting of stock options for 279,100 shares to four new employees as an inducement for employment. The options were awarded outside the 2021 Stock Option and Incentive Plan, in compliance with Nasdaq Listing Rule 5635(c)(4). Three employees received options for 129,100 shares at an exercise price of $10.99, and one employee received options for 150,000 shares at $12.04, both reflecting the closing prices on their respective grant dates. Each option vests over four years upon continued service.

Cullinan Oncology (Nasdaq: CGEM) provided updates on CLN-081, its lead program targeting EGFR exon 20 insertion mutations in non-small cell lung cancer (NSCLC). The latest Phase 1/2a trial data shows a confirmed overall response rate of 41% at the 100mg BID dose with a favorable safety profile, including no Grade 3 or greater treatment-related adverse events. The FDA granted CLN-081 Breakthrough Therapy Designation, enabling a small food effect study before a pivotal trial expected to begin in 2H 2022. Further data will be presented at medical conferences later this year.

Cullinan Oncology (Nasdaq: CGEM) reported significant clinical advancements and financial results for Q4 2021 and the full year. The company highlighted the Phase 1/2a trial of CLN-081, achieving a 97% response rate in NSCLC patients. CLN-081 received Breakthrough Therapy Designation from the FDA, and patient dosing for CLN-619 and CLN-049 began in December 2021. Cullinan ended 2021 with over $430 million in cash, sufficient to fund operations through 2024. However, the company recorded a net loss of $34.4 million in Q4 and $67.5 million for the full year, primarily due to increased R&D expenses.

Cullinan Oncology (Nasdaq: CGEM) will hold a regulatory update webinar on CLN-081 on March 28, 2022, at 4:30 p.m. ET. Participants can register through the events section on the company's investor website. CLN-081 is an orally available, irreversible EGFR inhibitor targeting specific mutations in non-small cell lung cancer. The company is currently evaluating various doses in a Phase 1/2a trial for patients who have undergone platinum-based chemotherapy. An archived recording of the webinar will be available on the Cullinan website for 30 days.

Cullinan Oncology, focused on developing targeted cancer therapies, announced participation in the Barclays Healthcare Conference in Miami from March 15-17, 2022. CEO Nadim Ahmed will present on March 16 at 3:20 p.m. ET. A live webcast of the presentation will be available on the investor relations website, with an archive accessible for 30 days post-event. Management will also engage in one-on-one investor meetings throughout the conference. Cullinan aims to deliver innovative treatments through internal and external collaborations.