Cullinan Oncology shares get 'buy' rating as BTIG starts coverage

Hanall Biopharma

21/11/2022 14:20

** Brokerage BTIG starts coverage of cancer focused
biopharma company Cullinan Oncology Inc  CGEM.O  with "buy"
rating 
    ** BTIG sets $20 PT on company's shares and sees
billion-dollar market opportunities for Cullinan's three
clinical assets
    ** Brokerage believes CGEM's lead candidate CLN-081
currently in early-to-mid-stage has shown superior safety and
efficacy in treating patients with non-small cell lung cancer
(NSCLC) vs current market-approved and in-clinic therapies
    ** NSCLC is a disease in which malignant cells form in the
tissues of the lung
    ** U.S. FDA granted breakthrough therapy designation to
CLN-081 in January
    ** CGEM's war chest of $607 mln supports aggressive early
and mid-stage clinical developmental runway into 2026 -
brokerage
    ** BTIG sees more collaboration opportunities for co; CGEM
in May entered into a buy-out deal with Japan's Otsuka Holdings
Co's  4578.T  unit Taiho Pharmaceuticals to co-develop and
co-commercialize CLN-081
    ** As of last close, Cullinan shares down 19.6% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com))