Cullinan Therapeutics (CGEM) Jumps on Promising Phase 1 Data for CLN-049 in AML, Showing Strong Response Rates

Cullinan Therapeutics Inc. (NASDAQ:CGEM) is one of the stocks that will double in 2026. On December 10, Clear Street raised the firm’s price target on Cullinan Therapeutics to $33 from $22 with a Buy rating on the shares. This sentiment was posted after the company announced updated data from the Phase 1 study of CLN-049.

Clear Street asserted that the clinical data for CLN-049 appear superior to that of most CD3 bispecific antibodies, confirming its differentiated biology and therapeutic potential. Consequently, the firm introduced a new market model for acute myeloid leukemia/AML specifically for CLN-049, projecting a launch in 2028 and forecasting risk-adjusted peak sales of $500 million by 2040.

Earlier in its Q3 2025 earnings call, the company reported a loss per share of $0.77. Cullinan Therapeutics’ net loss for Q3 was $50.6 million, which marked an increase from the $40.6 million net loss recorded in Q3 2024. The company maintains a robust financial standing, with a cash position of $475.5 million as of September 30. This provides the company with a projected financial runway extending into 2029.

The increase in net loss year-over-year reflects intensified investment in clinical programs. Furthermore, the company implemented a key strategic decision to focus resources on its most promising therapies. Cullinan discontinued its CLN-619 and CLN-617 programs, effectively narrowing its pipeline to high-conviction clinical stage programs. This move is intended to extend the company’s cash runway while concentrating investment on therapies that demonstrate the highest potential for impact in oncology and autoimmune diseases, particularly those leveraging its expertise in T cell engagers.

Cullinan Therapeutics Inc. (NASDAQ:CGEM) is a clinical-stage biopharmaceutical company that develops therapies for autoimmune diseases and cancer in the US.

While we acknowledge the potential of CGEM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.