RTTNews | Jun 4, 2021 10:19AM EDT

10:19 Friday, June 4, 2021 (RTTNews.com) - Shares of Cullinan Oncology Inc. (CGEM) are surging over 18% Friday morning, after the company announced that ongoing Phase 1/2a trial of CLN-081 in Non-Small Cell Lung Cancer or NSCLC patients continues to show acceptable overall safety and tolerability, with encouraging GI toxicity profile.

The stock, which has been trading in the range of $26.57 - $59.85 for the past one year, is currently trading at $34.75, up $4.99 or 16.75%, with trading volume soaring over 545K versus an average volume of 274K shares.

CLN-081 is an orally available, irreversible EGFR inhibitor, utilizing a unique pyrrolopyrimidine scaffold that was designed to selectively target cells expressing mutant EGFR variants, including exon 20, while sparing cells expressing wild type (WT) EGFR.

"We remain encouraged with CLN-081's emerging profile," said Owen Hughes, Cullinan's Chief Executive Officer. "In heavily pretreated patients, CLN-081 continues to show antitumor activity across the dose range, with a safety profile that appears to be differentiated, most specifically with respect to GI adverse events."

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