Cullinan Therapeutics price target raised to $26 from $24 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Cullinan Therapeutics (CGEM) to $26 from $24 and keeps a Buy rating on the shares Cullinan and partner Taiho Oncology announced they have initiated the rolling submission of a New Drug Application to the FDA seeking accelerated approval of zipalertinib for patients with locally advanced or metastatic non-small cell lung cancer with EGFR exon 20 insertion mutations who have previously received platinum-based systemic chemotherapy. The firm, which expects the rolling NDA submission to be completed by Q1 of 2026, is raising its view of the probability of approval for zipalertinib in EGFR ex20ins mutation-positive NSCLC to 90% from 70%.