develop lead drug

Cullinan Therapeutics

12/05/2022 15:52

** Cullinan Oncology's shares  CGEM.O  surge nearly 24% to
$9.04 in morning trade
    ** Says Japanese company Otsuka Holdings Co's  4578.T 
subsidiary Taiho Pharmaceuticals to buy CGEM's unit Cullinan
Pearl and co-develop and co-commercialize CGEM's lead drug
program  urn:newsml:reuters.com:*:nGNX13whzh
    ** CGEM to get upfront payment of $275 million and up to an
additional $130 million tied to the lead drug against non-small
cell lung cancer
    ** All 3 brokerages covering CGEM rate the stock "buy" or
higher; their median PT is $36
    ** Despite session's gain, stock down 42% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))