BTIG Reiterates Buy Rating on Cullinan Oncology Inc. (CGEM)

BTIG analyst Julian Harrison reiterated a Buy rating and $30.00 price target on Cullinan Oncology Inc. (NASDAQ: CGEM).

The analyst comments "Mgmt. has received regulatory approval to initiate the global Phase 1 trial for SLE in Australia. In the US, we expect the IND to open in ~30 days, assuming no further inquiries from the FDA, which would allow site activation in the US to take place as early as mid-October. The Phase 1 trial (CLN-978-SLE-001) plans to enroll SLE patients with ≥1 of the SLE autoantibodies (anti-nucleosome, anti- dsDNA, or anti-Smith) and a SLEDAI-2K score ≥8 with no CNS disease. The study consists of two parts: a dose escalation phase (Part A) and a dose expansion portion (Part B). Part A involves a step-wise escalation to determine the target dose for future trials and will incorporate step-up dosing to minimize safety risks such as cytokine release syndrome and neurotoxicity. The trial will allow SoC pre-medication and patients will be monitored for 48h in an in-patient setting. At least 2 dosing schedules will move into Part B where a larger number of SLE patients will be evaluated. The primary endpoint for the trial is safety. Other clinical outcome endpoints like PK, B cell kinetics, immunogenicity, and preliminary efficacy measures will be included as secondary endpoints."

For an analyst ratings summary and ratings history on Cullinan Oncology Inc. click here. For more ratings news on Cullinan Oncology Inc. click here.

Shares of Cullinan Oncology Inc. closed at $17.24 yesterday.

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