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Cullinan Therapeutics (NASDAQ:CGEM) caught Wall Street's attention last week when William Blair hyped the stock after peer-reviewed data for Amgen (NASDAQ:AMGN) leukemia therapy, Blincyto, which targets CD19 surface antigens on B cells similar to CGEM's lymphoma candidate CLN-978.
Cullinan (CGEM)) added ~58% last week, including ~31% on Friday. The increase came after the medical journal Nature Medicine published data suggesting that six rheumatoid arthritis patients who received Blincyto as a late option saw a “rapid decline” in clinical disease.
“This approach warrants further exploration of other B cell-mediated autoimmune diseases,” the researchers wrote. in an article on Friday.
The study “adds further support that CD19 T-cell activators may offer impressive efficacy with an attractive administration and safety profile,” said William Blair analyst Matt Phipps, who has an Outperform rating on the stock.
Earlier this week, another peer-reviewed study indicated that Blincyto, identified generically as blinatumomab and approved for acute lymphoblastic leukemia (ALL), was potent against systemic sclerosis, an autoimmune disease.
“We see potential in numerous indications, supported by case reports of systemic sclerosis and rheumatoid arthritis,” Phipps said in a Friday note, noting the company's plans to initiate a Phase 1 trial in systemic lupus erythematosus in the third quarter.
Other companies developing cell therapies or antibodies targeting CD19 include ADC Therapeutics (ADCT), Allogene Therapeutics (ALLO), AstraZeneca (AZN), Autolus Therapeutics (AUTL), Bristol-Myers Squibb (BMY), Century Therapeutics (IPSC), Gilead Sciences (GILD), Morphosys (MOR), Nkarta (NKTX) and Novartis (NVS).
