Cullinan stock rises on Amgen’s Blincyto data (NASDAQ:CGEM)

Cullinan Therapeutics (NASDAQ:CGEM) drew Wall Street’s attention last week as William Blair touted the stock after peer-reviewed data for Amgen’s (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 upsurge came after the medical journal Nature Medicine published data suggesting that six patients with rheumatoid arthritis who received Blincyto as a late-line option witnessed a “rapid decline” in clinical disease.

“This approach warrants further exploration on other B-cell-mediated autoimmune diseases,” the researchers wrote in an article on Friday.

The study “adds further support to CD19 T-cell engagers being able to deliver impressive efficacy with an attractive administration and safety profile,” said William Blair analyst Matt Phipps, who has an Outperform rating on the stock.

Early this week, another peer-reviewed study indicated that Blincyto, identified as blinatumomab in generic terms and approved for acute lymphoblastic leukemia (ALL), was potent against systemic sclerosis, an autoimmune condition.

“We see potential across numerous indications, supported by case reports in systemic sclerosis and rheumatoid arthritis,” Phipps said in a Friday note, pointing out the company’s plans to start a Phase 1 trial in systemic lupus erythematosus in Q3.

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).