$CGEM reports Q4 & full-year 2022 financial results for Cullinan Oncology, highlighting its clinical-stage portfolio expansion
Mar 9th 2023, 12:12 pm
Analyst Summary: Cullinan Oncology, a biopharmaceutical company focused on modality-agnostic targeted oncology therapies, has reported on its Q4 and full-year 2022 financial results. The company reported that it has expanded its clinical-stage portfolio through licensing the US rights to CLN-418, a potential first-in-class B7H4x4-1BB bispecific immune activator, and has received FDA clearance of IND application for CLN-978. The company is also on track for its initial clinical data updates for CLN-049 and CLN-619 for mid-2023. Cullinan aims to have six clinical stage programs by year-end and a cash runway into 2026. The CEO commented on the financial results, stating that they provide flexibility needed to fund ongoing development efforts and reach potential value-creating milestones. Quotes from the CEO emphasized the company’s successful execution in 2022 and continuing momentum into 2023, including recent efforts to expand the pipeline and provide runway for development efforts. The company’s diversified pipeline, anchored in scientific excellence and an innovative research model, is built with transformative therapeutics across cancer indications, each with the potential to be the best or first in their class. The forward-looking statements in the release contained information about the assessment of strategic opportunities to accelerate development timelines. However, while updates may occur, the company disclaims any obligation to update statements beyond what’s required by law.