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Investing.com - H.C. Wainwright initiated coverage on Cullinan Oncology Inc. (NASDAQ:CGEM) with a Buy rating and a price target of $24.00 on Thursday. The stock, currently trading at $7.47, has analyst targets ranging from $21 to $34, with a strong buy consensus. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics.
The research firm cited upcoming data presentations for zipalertinib at the World Conference on Lung Cancer (WCLC) in Barcelona next month as a key catalyst. With a "FAIR" overall financial health score from InvestingPro and strong liquidity position, Cullinan and its partner Taiho Pharmaceutical (TADAWUL:2070) plan to share updated efficacy and safety data from the Phase 2b portion of the REZILIENT1 trial.
The REZILIENT1 trial evaluates zipalertinib monotherapy in patients with non-small cell lung cancer (NSCLC) harboring epidermal growth factor EGFR exon20 insertion mutations who have received prior therapy. Initial data from the REZILIENT2 cohort, which explores zipalertinib in patients with uncommon EGFR mutations, will also be presented.
Previous results from the Phase 2b portion of REZILIENT1 presented at ASCO 2025 showed that zipalertinib treatment (n=176) elicited a 35% overall response rate, a median duration of response of 8.8 months, and a median progression-free survival of 9.4 months. Subgroup analysis demonstrated a 30% response rate in patients previously treated with amivantamab and no other ex20ins-targeted therapy.
Cullinan and Taiho intend to submit for regulatory approval in the U.S. by the end of this year, with Taiho holding exclusive ex-U.S. rights to zipalertinib and Cullinan having the option to co-commercialize in the U.S. With a current ratio of 9.83 and more cash than debt on its balance sheet, Cullinan appears well-positioned as it approaches potential regulatory milestones worth $130 million. Discover more insights and 8 additional ProTips for CGEM on InvestingPro.
In other recent news, Cullinan Therapeutics and Taiho Oncology are set to present updated clinical trial data for zipalertinib in non-small cell lung cancer (NSCLC) at the International Association for the Study of Lung Cancer’s 2025 World Conference. The presentations will include findings from the Phase 2b REZILIENT1 trial, focusing on patients with specific EGFR mutations who have previously been treated with amivantamab. Additionally, Cullinan Therapeutics has expanded its focus on autoimmune diseases by acquiring an exclusive license for velinotamig, a promising T cell engager, from Genrix Bio. This agreement, excluding Greater China, is aimed at repurposing the therapy for autoimmune conditions. Meanwhile, Clear Street has reiterated its Buy rating for Cullinan Oncology, maintaining a $22.00 price target despite the FDA’s recent approval of a competing drug for NSCLC. These developments highlight Cullinan’s ongoing efforts to advance its therapeutic portfolio in both oncology and autoimmune diseases.
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