A promising drug for immunotherapy of solid tumorsKey arguments in support of the idea
▪ Initial clinical data for CLN-619 are pending.
Investment thesis
Cullinan Therapeutics is a clinical-stage biopharmaceutical
company developing drugs for the treatment of cancer.
On 1 June, Cullinan Therapeutics will present data from a Phase I
clinical trial of its CLN-619 drug. The results of early-phase studies
will determine the potential of the experimental drug CLN-619 for
immunotherapy of solid tumors and hematological malignancies. At
the upcoming 2024 ASCO Annual Meeting, the Company will
present new data from the Phase 1 study (NCT05117476) of CLN619 in patients with solid tumors. The monoclonal antibody CLN619 binds to receptors on the tumor surface and increases theproduction of proteins recognized by immune system cells that
attack the tumor. Cullinan Therapeutics is exploring the therapeutic
potential of CLN-619 as a monotherapy for cancers and in
combination with KEYTRUDA (pembrolizumab). The study results
announced last week indicated a favorable safety profile for the
drug and we expect the presentation to confirm its therapeutic
potential and the ability to progress into further phases of the study.
In addition, a second Phase 1 study in patients with multiple
myeloma will be initiated in the coming months.
Cullinan Therapeutics has a diversified pipeline of
immunotherapy drugs with various mechanisms, including a latestage anti-tumor drug. One of the lead candidates, developed jointly with Taiho Oncology, is zipalertinib for the treatment of NSCLC. The Company continues to actively enroll patients in its
Phase 3 study designed to evaluate the efficacy of zipalertinib as a
first-line therapy for NSCLC. In addition, in the second half of the
year, Cullinan Therapeutics will present the first results from the
Phase 1 clinical trials on its CLN-049 and CLN-418 candidates for
the immunotherapy of recurrent hematologic oncohematologic
diseases and various types of solid tumors, respectively.
We set a Buy rating on CGEM stock with a 2-month price target
of $29.5. A stop loss order is recommended at $20.5.
