Cullinan Oncology Inc Stock Price, News & Analysis

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.

Cullinan Oncology (NASDAQ: CGEM) announced updated results from its Phase 1/2a study of CLN-081 for non-small cell lung cancer (NSCLC) with EGFR exon 20 insertion mutations. Key findings include a median duration of response exceeding 21 months and a median progression-free survival of 12 months at the 100 mg BID dose. The overall response rate was confirmed at 41% among treated patients. The drug displayed favorable safety and tolerability in heavily pre-treated patients. Further data will be presented at the 2022 ASCO Annual Meeting.

Cullinan Oncology (Nasdaq: CGEM) announced an investor briefing on June 4, 2022, at 8:00 a.m. EDT during the ASCO Annual Meeting to discuss updated data from the Phase 1/2a study of CLN-081/TAS6417 for non-small cell lung cancer patients with EGFR Exon 20 insertion mutations. This briefing follows a presentation of the data on June 3, 2022, during an ASCO oral abstract session. CLN-081/TAS6417 is an oral, irreversible EGFR inhibitor specifically targeting EGFR exon 20 insertion mutations. A strategic collaboration has been established with Taiho Pharmaceutical for its development.

Cullinan Oncology (NASDAQ: CGEM) announced that CFO Jeff Trigilio will present at the H.C. Wainwright Global Investment Conference from May 23-25, 2022, in Miami and online. The presentation will be available on-demand starting May 24 at 7:00 a.m. ET on the company’s investor relations website.

Cullinan focuses on developing targeted therapies for cancer, leveraging unique partnerships and a diverse pipeline aimed at enhancing patient care.

Cullinan Oncology (CGEM) announced a significant co-development agreement with Taiho Pharmaceutical for CLN-081, receiving $275 million upfront and potential regulatory milestone payments of $130 million. The company reported cash and investments totaling $685 million, ensuring operational funding through 2026. Key pipeline updates include ongoing Phase I trials for CLN-049 and CLN-619, with initial data expected mid-2023, and IND submissions for CLN-617 and CLN-978 anticipated in the first half of 2023. The net loss for Q1 2022 was reduced to $12.9 million from $34.2 million in Q4 2021.

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.