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Investing.com - H.C. Wainwright has reiterated its Buy rating and $24.00 price target on Cullinan Oncology Inc. (NASDAQ:CGEM), currently trading near its 52-week low of $6.44, following updated data from the pivotal Phase 2b REZILIENT1 trial of zipalertinib. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics.
The data, presented at the World Conference on Lung Cancer (WCLC) earlier this week, focused on non-small cell lung cancer (NSCLC) patients with EGFR ex20ins mutations who had previously received amivantamab treatment.
Zipalertinib demonstrated a 31.5% objective response rate (ORR) in patients previously treated with amivantamab and no other ex20ins-targeted therapy (n=54), and a 20% ORR in patients previously treated with amivantamab and another ex20ins-targeted therapy (n=30).
These results build upon earlier data presented at ASCO 2025, which showed that zipalertinib treatment (n=176) elicited a 35% ORR, a median duration of response of 8.8 months, and a median progression-free survival of 9.4 months across the broader study population.
The ASCO data had also shown subgroup analysis with a 30% ORR in patients previously treated with amivantamab and no other ex20ins-targeted therapy (n=30), and a 14% ORR in patients previously treated with amivantamab and another ex20ins-targeted therapy (n=21).
In other recent news, Cullinan Oncology has been in the spotlight with several notable developments. H.C. Wainwright reiterated its Buy rating for Cullinan Oncology, maintaining a price target of $24. The firm emphasized the potential of CLN-978, a novel treatment for autoimmune diseases. Additionally, Cullinan Oncology, in collaboration with Taiho Pharmaceutical, plans to present updated data on zipalertinib at the upcoming World Conference on Lung Cancer in Barcelona. This data will include findings from the Phase 2b REZILIENT1 trial, focusing on patients with specific mutations previously treated with amivantamab.
Clear Street also reiterated its Buy rating for Cullinan Oncology, setting a price target of $22. This comes despite the recent FDA approval of a competing drug, sunvozertinib, for non-small cell lung cancer. Clear Street believes this new approval does not impact its investment thesis for Cullinan. These recent updates are crucial for investors keeping an eye on Cullinan Oncology’s progress.
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